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HomeMy WebLinkAbout0971 _ _ ~ ' _ _ r ~ 500x741 ~ 'T y _ ~ j 1. M i - , r v ~ - ~?>Vti NTl,k - PH ~tSt~ at'bU~ e: ~;~....1 . FORM /6 5th Se tember This Mortgage is made this day of p , 19 by and between d ' Jean E.Derriek,his(..~or"),and VakntiaeCprapanies,lac. (and/Or $s81gn8) ("1+Iortgagee"), a Lottieiatu Corporation, having as Office in the City of Norehrid~re. County of Lo• AtVL~• State of California. W1TN$43S§t~~.20 WHEREAS, Mortgagor is indebted to Mortgagee in the sum of ` as evidenced by that certain promissory note of even date herewith, executed by Mortgagor and delivered W Mortgagee, a copy of which is attached hereto (the "Note"): - NOW, THER6FORS to secure the performance by Mortgagor of all rnrenants and conditions in We Note and In this Mortgagee and in all other ittstcumeata securing the Nole, and in order to charge the properties, interests and rights hereinafter described with such payment and performance and b secure rettewa4 and a:tensions Wereo[, and [or and in consideration of the suay~q~ TLttuattd $0/100 Dollars (110.00). Mortgagor does hereby mortgage, sell.-pledge and awgn to Mortgagee all of the land is the County of ~ L c 1 State of Fbrida, which is more particularly deaaibed as follows: Lot 16, Block 232, PORT ST. LUCIE SECTION 28, according to the Plat thereof, as recorded in Plat Book 14, Pages 7, 7A through 7C, .of the Public Records of St. Lucie County, Florida. rl~cnrEO = yo, oD M P4walr or TutES PR.:F" t) a DUE ON CIAS! 'C gITAN6!tlE PERSOIU?l PROPERTI(, 3a. FuaSJAIIT TO t11APTER 71.131, ~cTS of >~n ~ SUSAN ~ ~ ~ ~t2 ~ 12955 BISCAYjV , BLVD, CLEl:II CIRCgi C0~ st 1/CaE tom, nA.S~• MIAMI, fL, 33181 wr>Uwl 702 S.H. Duval Ave. Pt.St.Luci@.,FL 33452 Principal Amount S 2 O , 0 0 0.0 0 Interest Amount = 2 3 + 2 4 3.2 0 ToW Amount i ~ ~ ~ ~ ~ ~ - To bare and to hold the same, together with alt improvements and appurtenances thereto, and also all the estate, right, title, interest, home- stead, right of dower, separate estate, property, possession and claim whatsoever of Mortgagor to the same in every part and parcel thereof unto Mortgagee in [ee simple ("bortgaged Property"). SUBJECT TO the following "Permitted Liens": NONE PROVIDED ALWAYS, that it Mortgagor shall pay to Mortgagee /he Nole at the times and in the manner stipulated therein, and in all other instruments securing the Note, including renewals, a=tensions or modifications thereof, and in .this Mortgage and in all other instruments securing the Note. to be kept, performed or observed by Mortgagor, then this Mortgage shall cease and be void,-but shall otherwise remain in full force and ef[ect. Mortgagor covenants and agrees with Mortgagee as follows: 1. Compliance with Note and Aortgage; Warranty of Title. Mortgagor shall comply with all provisions of the Note, this Mortgage and of every other instrument securing the Note, and will promptly pay to Mortgagee the principal with interest thereon and all other sums required to be paid by Mortgagor under the Note and purwant to the provisions of this Mortgage and of every other instrument securing the Note. Mort- Kagor is indefeasibly seized of the 1lfortgaged Propert jr in fee simple and Mortgagor has lawful authority to convey, mortgage and encumber the same as provided by this Mortgage, and does hereby so warrant. 2. Payment o[ Tazes and Liens. Mortgagor shall pay all the taxes, obligations and encumbrances of every nature now on the Mortgaged Properly or that hereafter may be imposed upon this Mortgage or the Mortgaged Property or upon the indebtedness secured hereby, ezcept that Permitted Liens may be discharged in accordance with their terms. All such payments to be made when due and payable according to law before they become deliyuenl and before any interest attaches or any penalty is incurred. Insofar as any indebtedness is of record (except ~ indebtedness giving rise to Permitted Liens) the same shall be promptly satisfied and evidence of such satisfaction sball be given to Mortgagee. ~ 3. Insurance. Mortgagor shall keep the !Mortgaged Property and the improvements now existing or hereafter erected on the Mortgaged Property inwred as may be required from time w time by kortgagee against loss by fire, other hazards and contingencies in such amounts and for wch periods as may be required 6y Mortgagee. Mortgagor shall pay_promptly, when due, any premiums on such insur`tue. All inatrance shall be carried with companies approved by Mortgagee and the policy and reneKals thereof shall be held by Mortgagee and have attached E thereto loss payable clauses in favor and in form acceptable to Mortgagee. In the event of loss, llfortgagor shall give immediate noticR by mail to I \lortgagee and Jortgagee may make proof of loss if nut made promptly by Morgagor. Each inwnncerompany concerned is hereby authorized end directed to make payments for wch bss directly to Mortgagee instead of either to Mortgagor or Aortgagor and Mortgagee jointly: Irtwr- ance proceeds or any part thereof may be applied by 1lfortgagee at its option, after deducting therefrom all its expenses including attorney's fees, either to the reduction of the indebtedness hereby secured or to the restoration or repair of the property damaged. Mortgagee is hereby authorized, at its option, to settle and compromise any claims, awards, damages, rights of action and proceeds, and any other payment or relief under any irtwnnce policy. In the event of forecbwre of this Mortgage or other transfer of title to the Mortgaged Property in extirtgttishtnent of the indebtedness secured hereby, all right, title and interest of Mortgagor in and to any inwrance policies then in [orce shall pass to the purchaser or grantee. Mortgagee may at its option require Mprtgagor to deposit with Mortgagee on the first day of each month, in addition to making payments of principal and interest, until the Note is fully paid, an amount equal to one-twelfth (I /l2) of the yearly premiums for all inwrance. Such deposits shall not be, nor be deemed to be, trust funds, but may be commingled with the general funds of Mortgagee, and rto interest shall be payable in respect thereof: Upon demand by Mortgagee, Mortgagor shall deliver to Mortgagee wch additional monies as err necessary to make up any deficiencies in the amounts necessary to ena6lt Mortgagee to pay wch premiums when due_ In the event of default under any of the terms, covenants and conditions in the Nute, this 1ltortgage or any other instrument securing the Note to be performed o~ observed by Mortgagor, Mortgagee may apply to the reduction of the sums secured hereby, in wch manner as Mortgagee shall determine, any amount under this paragraph remaining to Mortgagor's credit and any return premium received from cancellation o[ any insurance policy by ~k?rtkagee upon forecbwre of this Mortgage. 4. Condemnation. If the Mortgageed Properly or any part thereof shall be damaged or taken through condemnation (which term when used herein shall include any damage or taking by any governmental authority or any other authority authorized by the laws of the State of Florida or the United Slates of America to so damage or take, and any transfer by private sale in lieu thereof), either temporarily or permanently, the entire indebtedness and other wms secured hereby shall, at the option of Mortgagee, become immediately due and payable. Mortgagee droll be entitled to all compensation awards, damages, claims, rights of action and proceeds of, or on account of any damage or taking through con- j ~demnation and is hereby authorized, at its option, to commence, appear in and prosecute, in its own or Mortgagor's name, any action or proceeding relating to any condemnatiod, and to settle or compromise any claim in connection therewith. All such compensation awards, damages, claimi, rights of action and proceeds, and any oEher~payments or relief, and the right thereto, are hereby assgned by Mortgagor to ~ Mortgagee and Mortgagee aRer deducting therefrom all•ita ezpeDses including attorney's fees may release any monies so received by it without affecting the lien of this Mortgage or may apply the same, in wch manner as Mortgagee shall determine, to the reductions of the wm secured hereby and to any prepayment charge provided in the Note, this Mortgage or any other instrument securing the Note. Any balance of wch monies then remaining shall be paid to [Mortgagor. Mortgagor agrees to execute wch further assignments or any compensations, awards, d~~- ages, claims, rights of action and proceeds as Mortgagee may requite. 5. Care of Mortgaged Property. Mortgagor shall not remove ar demolish any building or other property forming a part of the Mortgaged Property without the written rnnsent of Mortgagee. Mortgagor shall not permit, commit, or wffer any waste, impairment or deterioration of the Mortgaged Property or any part thereof, and shall keep the same and improvements thereon in good condition and repair. Mortgagor shall notify Mortgagee in writing within fire (5) days of any damage, or impairment of the Mortgaged Property. Mortgagee may. at Mortgagee's discretion, have the Mortgaged Property inspected at any tithe and Mortgagor shall pay all costs incurred by Mortgagee in ezecuting wch in- spection. ~ ~ ~ 6 ~ ~ ~ n - .