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HomeMy WebLinkAbout0168 f ' - ' 1 j r` - . y - _ - ~ ST-41,731 (3~ Position S USDA-FmHA - ~r~„u,roa,,.patricia L. Nee The Iorm of this instrument was draiteo by the Ot1iFM'td1'at~sTRACTa jITt.E CQAP: ` - Fotm FmHA 427.1 FL the General Counsel of tM Unitetl States Department o1 ~t01t~/IlaCL Agriculture, Washin ton, D.C., and tM material in-tM blank a. ; (Rev. 10-29-79) g : fpauf in the form was inserted Dy or untler tht tlirettion o1 ~ AR4TRA(:T JC TT'1'i.F [Y)RP(1RATTAN OF FTDRTDA F (Name) P. 0. Box 3696. Ft. Pierce. .Florida 33450 ~ONt 4q~145 (Addreff) - . . 's EXEiy-pT . y;~ -~:j TAXES ~ REAL ESTATE MORTGAGE FOR FLORIDA ` Ta ' r•.?s ~ 11~L - • Gi~:2 PLITtiAS THIS MORTGAGE is made and entered into by q~i ~Ta ~ LWCIE ~ Rt~ ~ ROBERT G. NEILL and 1lOREl?1E S. iiTEILL, his wife residing ~ St. Lucie County, Florida, whose post office address - is 814 Hartman Road, Ft. Pierce ,Florida 33450 , - che mortgagor(s), herein called "Borrower," and the United States of America, acting through the Farmers Home Admire- ' istration, United States Department of Agriculture, the mortgagee, whose principal office is located in Washington, D.C.; ! herein called the "Government," and: WHEREAS Borrower is justly indebted to the Governrent as evidenced by one or more certain promissory note(s) or assumption agreement(s), herein called "note," which has been eaecnted by Borrower, i3 payable to the order of the Government, authorizes acceleration of the entire indebtedness at the option of the Government upon any default by Bor- rower, and is described as follows: ~ - ' Annual Rtlte Due Date of Final Date of Instrument Principal Amount of Interest Insttlllment - . r July 16, 1980 -$50,000.00 5 X January 1, 1985 I (If the interest rate is leu than J6 for farm ownership or operating loan(s) secured by this instrument, then the me may be-changed as provided in the note.) t And the note evidences a loan to Borrower, and the Government, at any time, may the note and insure the payment thereof pursuant to the Consolidated Farm and Runl Development Act, or Title Y of Housing Act of 1949, or any other statutes administered by the Farmer Home Administration. - - And it is the purpose and intent of this instrument that, among other thing, at all times when the note is held by the Government, or in the event the Government should ass~'gn this instrument without insurance of the note, this instrument shall secure payment of the note; but when the note is held by an insured holder, this instrument shall not secure payment of - the note or -attach to the debt evidenced thereby, but as to the note and such debt shall constitute an indemnity mortgage to secure the Government against loss under its insurance contract by reason of any default by Borrower; And this instrument also secures future advances made within twenty (20) ye.rs from date hereof to anyone herein called Borrower-when evidenced by a noce or notes covering loans made or insured under Subtitle A of the Consolidated ' Farm and Rural Development Act or Title V of the Housing Act of 1949 or any other statutes administered by the Fu- mers Home Administration provided the total principal indebtedness of the original and future loans :hall not exceed ' r 't 50,000:00 ,subject to the same terms and condition reguding the assignment of said notes hereinabave provided and all references in thii instrument to the "note" shall be deemed to include future notes. And this instrument also secures the reca tun of any interest credit or subsidy which may be granted to the Bor- ' rower by the Government pursuant to 42 U.S.C. ~1490a. NOW, THEREFORE, in consideration of the loan(s) and (a) at all times when the note is held by the Government, or r in the event the Government should assign this instrument without insurance of the payment of the note, to secure prompt payment of the note and any renewahi and extensions thereof and any agreements contained therein, including any provision ~ for the payment of an insurance or other chuge, (b) at all times when the note is held by an insured holder, to secure per- formance of Borrower's agreement herein to indemnify and save humless the Government against loo under its insurance contract by mason of any- default by Borrower, and (c) in any event and at all times to secure the prompt payment of all ' advanus and expenditures made by the Government, with interest, as hereinafter described, and the performance of every covenant and agreement of Borrower contained herein or in any supplementary agreement, Borrower does hereby grant, bug~in, sell, convey, mortgage, assign and forever warrant unto the Govemment the following property situated in the Scan of Florida, Counry(ies) of - St. Lucie _ O~~C~ 1 ` FmHA427-1 FL fRev. 10-29.79)