HomeMy WebLinkAbout0304 DIRECT HOME IMPROVEMENT MORTGAGE ~ ~3a7~ g ~ ~ i
wtTH FUTURE ADVANCE ~Q1~~14
THIS MORTGAGE, made this 4th day of September A.O., 19 BQ.- ,between
Thomas J. Payne and Bernice Payne, his wife IMortgagorl and
_ Sya. Bank of St. Lucie County, Ft. Pierce. FL IMortgagee?:
INameot Sun 8ankl'
WITNESSETH, that Mortgagor, for and in consideration of the premises and in order to secure the payment of the principal and
interest on the note las hereinafter delinedl, Mortgagor hereby grants, assigns transfers and mortgages to Mortgagee, its wccessors and
assigns torever, the following described real property in Sty, Lucie County, Fbrda, to wiu
Lot 196 of SHERATON PLAZA, UNIT THREE, REPEAT, -
according to the Plat thereof as recorded in
Plat Book 16, page 12 of the Public Records of
St. Lucie County, Florida.
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1R06ER POITRAS ~ , ~ 7
CLERiI CIACuIT cCUAL~ Received s In Parnsnt Ot Tllnt~ ,
- RECO~ n rERmEC__._ ( Due On Clest "C" IntatlpiblsP~sreonelpro~q,
_ pursuant To Chaplet 71.194, ACte O~ 1871 i
- 4y8614 Rocs PolTaas }
CIpA Circuit Court, SL LucN. Co., fb.
(hereinafter referred to as the Mortgaged Propertyl; and the Mortgagor does hereby fully warrant the title-to the Mortgaged Property
and wnl defend the same against the lawful claims of all persons whomsoever.
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PROVIDED ALWAYS, that if Thntnaa J_ Pape and Bernice Payne ~ his wi fe ,the Maker(s) of that ;
- Ilnsert Namelsll t
certain promissory note dated the date hereof (the Note), their heirs, legal representatives or aligns shall pay to Mortgagee
. the principal wm of S ~ e 345 _ 58 as evidenced by the Note, with interest and upon the terms as provided therein, the final
maturity date of the Note and of this Mortgage being ~~ptember 4 , 19 ,which Note provides that
all installments of prwCipal and interest are .payable at the office of Mortgagee, or at wch other place as the holder may designate in
writing, and that each maker and endorser agree to pay all costs of collection, including a reasonable attorney's fee, upon default in the
payment of the Note, and that if default be made in the payment of any installment thereunder and that if wch default is not made
- good m accordance with the terms of the Nate, that the entire principal wm and accrued, earned interest shall become due and payable
without notice at the option of the holder thereof; and shall perform and comply with each and every stipulation, agreement and rnv-
errant of the Note and of this Mortgage, then this Mortgage and the estate hereby crested shall be void, otherwise the same shall remain
in full force. Maker covenants to pay the interest and principal promptly when due. Mortgagor covenants to pay the taxes and assess-
ments on sad property; to carry inwrance against fue on the building on sad land for not less than S n~a ,approved
by the Mortgagee, wrth standard mortgage bss clause payable to Mortgagee, the policy to be held by the Mortgagee and to keep the
i building on sad land in proper repair.
This Mortgage shall secure not only existing indebtedness, but also wch future advances, whether wch advances are obligatory or
to be made at the option of Mortgagee, or otherwise, as are made within twenty (201 Years from the date hereof, to the same extent as
rt wch future advances were made on the date of the execution of this Mortgage, but wch secured indebtedness shall not exceed at any
~ ~ tune the maximum principal amount of $ n/a plus interest, and any disbursements made for the payment
of taxes, levies, or inwrante, on the Mortgaged Property, with interest on wch disbursements. Any wch future advances, whether
p~ oblgatory or to be made at the option of the Mortgagee, or otherwise, may be made either prior to or after the due date of the Note or
ai any other notes secured by this Mortgage. This Mortgage iS given for the specific purpose of securing any and all indebtedness by the
Ca ~ Maker to Mort
_ gages (but in r?o event shall the secured indebtedness exceed at any time the maximum principal amount set forth in this
' paragraph) in whatever manner this indebtedness may be evidenced or represented, until this Mortgage is satisfied of record. All cove-
- pt Hants and agreements contained in this Mortgage shall be applicable to all further advances made by Mortgagee to Maker under this
~ future advance clause.
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Should any of the above covenants be broken then the Note and all moneys secured hereby shall, without demand, d the t
8f Mortgagee, so elect, at once bernme due and payable and this mortgage may be foreclosed, and all costs and expenses of collection and ~
~ reasonable attorneys' fees, inctudmg costs, expenses and reasonable attorneys' fees on appeal, ii collected by legal proceedings or
through an attorney at le~w, sfWll be paid by the Maker, and the same are hereby secured.
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H; IN WITNESS WHEREOF, the Mortgagor has executed this Mortgage as of the date first above set forth.
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I $gried, seated aril delivered
in our presen
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~ (Mortgagor 1
STATE OF FLORIDA
$ COUNTY OF ST• LUCIE 1 - T
HEREBo
Y~ ~ 1hn daY. before me, an officer duly authonred in the Slate aforesaid and in the County aforesad
to take ackn ~ ysJppearedThcnnaG J~ and Bernice Payee to me known to be the persondescnbed
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m and who egg trto~ ~tift~iment aril thP~/ acknowledged before me that they executed the same.
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WITNES~ri?y (?atd and Ott . /t~l•in the County and State aforesaid this 4th day of September ,
A.C., 19 -$e~~'" I~+:~
r Vin. ~ N aryPul~~ACON4~41C STATE Of FCORIOA AT 111
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