HomeMy WebLinkAbout29113T-41,915
Positivit s - ~ (3
USDA-Fm11A
The form OI this instrument was drd lled by the Olhce Ot ~` ~~~
Form Fn1HA 427-1 FL the General Counsel of the united States Department of 1
(Rev. 10-29-79) Agriculture, Wasl,~ngton, D.C., an0 the material in the blank
spaces in the loan was inserted by or under the direction of
residing
Patricia L. Neu, Abstract b Title Corporation
(Name)
205 So. 2nd Street, Ft. Pierce, FL 33450
(Address) uJ/1 f°-
..._ _,., i E,IQ,.tPT IN PAYLf'iT Qf TAIfES
REAL ESTATE MORTGAGE FnR FLORIDA ~ ~•: c_•:: •c• i`+*acatE ~::;s~r::.t Pao?EBTY,
. _ :.'Ti; TJ iii.'3T~i 71-1:4, A;,7S 4F 1171.
THIS MORTGAGE is made and entered into by f.Ji.;A PLITR~.t
Clrnl( G::.UR C~ifw^T, iT. UI~IE Oa. R/~Q'Y
CHARLES CASTRONOVO
St. Lucie
County, Florida, whose post office address
is .2172 S.E. Sunflower Streeter Port St_ Lucie ,Florida ~~452 ,
the mortgagor(s), herein called "Borrower," and the United States of America, acting through the Farmers Home Admin-
istration, United States Deputment 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 note(s)
or usumption agreement(s), herein called "note," which has been executed by Borrower, is pay able 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:
Date of --lstrument
December 12, 1980
Principal Amount
$32,500.00
Amtual Rate
of I n serest
11.5
Due Date ojfirtal
I nstallntent
December 12, 2013
(If the interest rate is less than o for farm ownership or operating loan(s) secured by this instrument,
then the rate may be changed u 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 Fum 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 aU times when the note is held by the
Government, or in the event the Government should assign this instrument without insurance 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 insurance contract by reuon of any default by Borrower;
And this instrument also secures future advances made within twenty (20) years from date hereof to anyone herein
called Bonuwer when evidenced by a note or notes covering loans made or insured under Subtitle A of the Consolidated
Farm and Rural Development Act or Title V of the Housing Act of 1949 or any other statutes administered by the Far-
mers Home Administration provided the total principal indebtedness of the original and future loans shall not exceed
s 32 ~ 500.00 ,subject to the same terms and condition regarding the usignment of said notes hereinabove
provided and all references in this instrument to the "note" shall be deemed to include future notes.
And this instrument also secures the reca lure of any interest credit or subsidy which may be granted to the Bor-
rower by the Government pursuant to 42 U.S.C. ~1490a.
NOW, THEREFORE, in consideration of the loan(s) and (a) at all times when the note i.: held by the Government, or
in the event the Government should assign this instrument without insurance of the payment of the note, to secure l+rompt
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, (b) 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 humless the Government against loss under its insurance
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, u hereinafter described, and the performance of every
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 Governme the following property situated in the
St. Lucie 1r~34~ pAG~~.W~
S f FI 'd C f ~~.~
rate o on a, ounty(tes) o •
FmHA 427-1 FL `Rey t~ 29.79
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