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TNIS INSTRUMENT PREPARED 8Y:
Citizens Federal Savings and Loan Association
of St. Lucie County
1600 S. Federal Highway, Ft. Pierce, FL 33450
C. R. McDonald, Jr., General Counsel loan A~ 22048142
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AGREEMENT NOT TO ENCUMBER OR TRANSFER PROPERTY
As an inducement to Citizens-federal Savings and Loan Association
of St. Lucie County to grant-credit to the undersigned under a promis-
sory note for the sum of S 6 000.00
dated and in consideration thereo the undersigned
(hereinafter called "Borrowers"),. jointly and severally agree that until
said note and any extension or renewal thereof shall have been paid in
full; (a) borrowers will pay all taxes, assessments, dues and charges
of every kind, imposed or levied, or which may be imposed or levied upon
their real and personal property prior to the time when any of such taxes,
assessments, dues or charges shall become delinquent and (b) borrowers
will not, without the consent in writing of Citizens Federal Savings and
Loan Association of St. Lucie County first had obtained and, (1) create
or permit any •lien or other encumbrances (other than presently existing
liens and liens securing the payment of loans and advances made to them
by Citizens Federal Savings and Loan Association of St. Lucie County) to
exist on this property, (2) transfer, sell, hypothecate, assign or in
any manner whatever dispose of the said property, or any interest therein,
specifically, the following described real property, situated in the
County of St. Lucie State of Florida:
Lot 10, Block 62, PORT ST. LUCIE, SECTION 25, according to the plat
thereof on file as recorded in Plat Book 13, Pages 32a through 32i,
of the Public Records of St. Lucie County, Florida.
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It is further agreed and understood that if default be made in the
performance of any of the terms hereof, or of any instrument executed by
Borrowers in connection herewith, or in the payment of the indebtedness
~ or obligation of Borrowers now or hereafter owing td Citizens Federal .
Savings and loan Association of St. Lucie County, Citizens Federal Savings
and Loan Association of St. Lucie County may, at its election, in
addition to all other remedies and rights which it may .have by law, declare
the entire remaining unpaid principal and interest of the obligation or
indebtedness then remaining unpaid to Citizens Federal Savings and Loan
Association of St. Lucie County due and payable forthwith.
tt is further agreed and understood that Citizens Federal Savings
and Loan Association of St. Lucie County may, in its discretion, and is
hereby authorized and permitted by Borrowers to cause this instrument to
be recorded at such time and in such places as Citizens Federal Savings
and Loan Association of St. Lucie County may, in its discretion, elect.
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