HomeMy WebLinkAbout0754THlS IS A BALLOON MORTGAGE AND THE FIN:~~ ? ~ ~°,;:~
YORTOAOE OEEO
°"°'°"" OR THE BJ-IA~VCE DUE UPON MATURITY IS ~.$akt.~,o__.._, RAMCO FORM RE6
T06ETHER WITH ACCRUED INTEREST, IFS ANY, AND ABC e
ADVANCEM M DE BY THE ~B~l~GEE UNDER ~~1
t~MS OFT G G `~
Executed the 1st day of December A. D. t9 80 6y
HENRY STONE and AMY STONE, his wife,
bereina/ler called the mortgagor, to
DONALD E. MICHAEL and NORMA J. MICHAEL, his wife,
bereinalter called the mortyagee:
INbere,rr used herein the terms "mortxaRor'• and "mortfTasee' include all the parties to this iastrtuoeat and the -ein,
kcal represenuti,~es and a:veru of iadiriduah, and the wccesrsn and a+sian of anrporation; and the tets "smote"
tnrlssdes all the antes herein drscribed if toore than one.)
~~tnessed~, that /or good and'valerable rnnsideratiorts. and also in consideration of the aggre-
gate sum named in Ibe promissory note of even date herewith, hereinafter described, the mortgagor here-
by grants, bargains, sells, aliens, remises, conveys and confirms unto the mortgagee all the certain land
of which the mortgagor is now seizes/ and in possession situate in St. Lucie County.
Florida, viz:
Lot 44, Block 2910 of PORT ST, LUCIE SECTION 41, a Subdivision
according to the Plat thereof, recorded in Plat Book 15, Page 35 of
the Public Records of St. Lucie County, Florida.
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THIS IS A PURCHASE MONEY SECOND MORTGAGE AND MAY NOT
BE ASSUMED WITHOUT THE PRIOR WRITTEN CONSENT OF THE
MORTGAGEES. _ -
The parties do hereby acknowledge that this is awrap-around purchase
money second mortgage, second in lien to that certain mortgage in favor
of GDV Financial Corporation dated December 21, 1978 and filed for
record on January 15, 1979 in O. R. Book 301, Page 1640 of the Public
Records of St. Lucie County, Florida. Payment of this mortgage may
be in part made by the Mortgagors by the assumption of the aforesaid
mortgage in favor of GDV Financial Corporation as the balance of
principal indebtedness shall then exist. :Jntil such time as the Mortgagors
herein shall assume the first mortgage of this premises, Mortgagees
shall be responsible and liable for the full payment thereof, and warrant
and agree to keep the same free from any and all default.
In addition to all payments of interest and principal as herein required,
Mortgagors herein agree to pay to the Mortgagees herein an amount
equal to the monthly escrow payments to be made to GDV Financial
Corporation as required in the first mortgage, v~hich may from time
to time change but which are at the time of the execution hereof been
determined to be the sum of $63. 58 per month. Upon the execution
hereof, the Mortgagees do hereby assign, transfer, sell, set over
and deliver to the Mortgagors the balance of said escrow account
standing in their name in the sum of $678. 36.
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Due On Class "C" rnwngtble t'er_=c ,,,• r'roperty,
Purwent To ChapNr 71, 134. Acts Jr t 871.
~o~t Patw~s ~~
g~344 Pay 754