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HomeMy WebLinkAbout0128 ST-41,731 ' Position S USDA-FmiiA r~„~,,,,In~„~~n,,.PttliCia L. Neu Tne form o/ this instrument waS draped by the O/h~t~~ Form FmHA 427-1 FL the General Counsel of the united States Department of AE:SfKACT ~ 717LE t:OriP. F Fu. Agriculture, Washington, D.C., and the material in the blank ~fa~ ~fI'M~.• (Rev. 10-29-79) . spaces in the /orm was inserted Dy or under the direction of ~~A^A ARSTRACT b '~TTi.F CQRPnRATTON OF ELQBIDA p~,neVQ~W` (Name) 1, 'i P. 0.-Box 3696, Ft. Pierce, Florida 33450 Jt7.'aF ga~145 ~ - ~ ~~-„r~ ~:IFS tAdd.essl ~ .~E..Tllt REAL ESTATE MORTGAGE FOR FLORIDA- T' - " ~r lil/l, CUtJ~ q`a;,(gT §ril:IT, Si. WGE C4 AAr_'• N THIS MORTGAGE is made and entered into by ROBERT G. NEILL and DORENE S. NEILL. his wife residing St. Lucie County, Florida, whose post office address is 814 Hartman Road, Ft. Pierce ,Florida 33450 , the mortgagor(s), herein called "Borrower," and the United States of America, acting through the Farmers Home Admin- 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 Government as evidenced by one or more certain promissory Hotels) or aswmption agreement(s), herein called "note," which has been executed by Borrower, is 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: f Anrural Rate Due Date of Final Date ofbutrument Principal Amount of Interest Installment November 16, 1979 $75,000.00 9'-~ November 16, 1984 July 16, 1980 •$50,000.00 5 X July 16,1985 s , TkIS MORTGAGE IS RE-RECORDED TO CORRECT VARIOUS ITEMS. ~ (If the interest rate is less than ,°6 for farm ownership or operating loan(s) secured by this instrument, then the rate may be changed as provided in the note.) And the note evidences a loan to Borrower, and the Government, at any time, may usign the note and insure the payment thereof pursuant to the Consolidated Farm and Rural Development Act, or Title V of the Housing Act of 1949, or any- other statutes administered by the Farmers Home Administration. And it is the purpose and intent of this instrument that, among other things, at all times when the note is held by the Government, or in the event the Government should assign this instrument without inwrance 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 u to the note and such debt shall constitute an indemnity mortgage to secure the Government against loss under its inwrance contract by reason of any default by Borrower: And this instrument also secures future advances made within twenty (20) years from date hereof to anyone herein called Borrower when evidenced by a note or notes covering loans made or inwred under Subtitle A of the Consolidated Fum 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 shall not exceed . ~ 125 000.00 a f ' ,subject to the sane terms and condition regarding the assignment of said notes hereinabove g provided and all references in this instrument to the "note" shall be deemed to include future notes. s And this instrument also secures the reca cure of any interest aedit or subsidy which may be granted to the Bor- rower by the Government purwant to 42 U.S.C. ~1490a. NOW, THEREFORE, in consideration of the loan(s) and (aj at all times when the note is held by the Government, or in the event the Government should usign this instrument without inwrance of the payment of the note, to secure prompt payment of the note and any renewals and extensions thereof and any agreements contained therein, including any provision - for the payment of an insurance or other chuge, (bj 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 harmless the Government against loss under its inswance contract by reuon of any default by Borrower, and (c) in any event and at all times to secure the prompt payment of all advances and expenditures made by the Government, with interest, as hereinafter described, and the performance of every r covenant and agreement of Borrower contained herein or in any supplementary agreement, Borrower does hereby grant, bugain, sell, convey, mortgage, assign and forever warrant unto the Government the following property situated in the ~ St. Lucie 1?ii r n.r•r State of Florida, County(ies) of _~~1CaQ~ ~ hQ , i -~G~J(~ 6(,~~ P~E ~ FmHA 427-1 FL !Rev. 10-29-79` r. - - " - = - - a ` - ~ ~f ,