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Home My WebLink About2439Th~s mo~lgage was prepared by; ~~~ J~-'~~11~1 MORTCAGE I hu ~1urtKagc n made ~hi+9th da~ u1 `7~~YY . 19 81 . Ay eod bctwccn E1MJ tL1~S W1fC - 1"4lorigagur"~. anu Aft1~Y'1 1`Mur~gagte"1. haung an o(fice a~ lO c at ul tQl.~ilu ('uunty ol ~ 513~'88 ~ o ~' 1 ~~~ M. Yongue and Lillian Yongue c.~n ~u~.Ltd,~ New Je~y ._ p ~pxs~~ 0 B1SCc1yR~ BZVC~. a , titatt o( Flonda W 1 T N E S S E T H: WHEREAS, Mongaaor is indebted to Mongasee in ~he sum of ~nt1~ ~ TYK~]Sa1'KI Ol'1@ t1LII'1C~r~ @lqtlt}t/ ri1T1P. 4~~.~a~- u evidenced by that ccrta;n prom~ssory oae of e~•en date herewitA, executed by Moneaaor and dclivetcd ~o Mort~tt, a copp of wA~ch is atuched hereto (~he "Note); NOW. THEREFORE to secure ~he pe~famance by Mor~aaga o(:II covenants and conditions in tAe Nae and in this Monpae aod in all other instru- menu securina ~he Note, and in ader to charge ~he properua, intaests and riRhts hereinaftet describcd with such payment and pertormance and to stture renewals and extensiorts thereof, u-d for and in considcntion of tl~etsum,Qf Ten and noi100 Dollu: (510.00), Morlaator does hereby mort~e, sell, pkdte and assign to Mon6aaee all ot the land in ~he Coun~y ot 5• Z+UCl@ S~ate ot Florida, which is morc particularty described u follows: ' ....Lat 18 & W. 1/2 of Lat 17,- (~id~SE'S S~DMSION, according to as recorded in Plat Book 4, Page St. Lucie Coimty, Florida... ~~'~ i ~~s.0!) IN -AYII.RYT OF TA~ CUE OY Clt ~: 'C' 19lT1.''G.E! E PLCz: :r.l P: 7:'E~cn~ PU:.~L'Alli TO . il ;?T~ s 71-t':;, RC7S 6f 1l71. K;,G:+2 P,:II~A3 , CL~6K G.:~U~T C~UdT. ST. WCdE C0. FLA.Q ~N. : the Plat tfiereof 78, Poblic Recards of • ' { ' ~ ' _ t ~~. C- l~ 1 ~ : ~ In acrurdanc-~ wuh thc rulm~e. ot thr hlunda Ikpartnxnt uf Rr~rnuc. thr IkKUmcnlrn 1~amp la~ rnd In~angibk ~ax +houW trc ~:~lculateJ on S 800D•OO , thc amuunt t~nanccd ~n ~h~s tr.~nsac4nn. To have and to hold the ~ame, IuRclhcr w•ith all ~mprovcmcntti and ;~purtenariccs ~hcreto, and also all Ihe cstate, nght, Uqe, ~ntettsl, homes~ead, np,ht ot d~wcr, scparare cstate, pmpcny, possc~s~on and cla~m v+•hatsoe~~er o( ~tortgagor to th~ same ~n ea•ery part and pucel thereof unto ~tohgagee in tee simple 1"~fortRaRed Pmperty"~. Sl'B~E(:f 70 thc folluw~nR ~'1'crm~ucd L~ens First Mortgage to John Edward Layfield and Lawana Layfield, his wife in Original ~t of $13,000.00, dated 2/15/76 and filed 2/27/76 in Official R~ord $odc 249, Page 898, Public R~ecords of St. Lucie County, Florida. PROVIDED ALWAYS, that if Mort6agor shall pay to Mortgagee the Nwe at the times and in tAc manner stipulated therein, and in all other instru- ments securing the Note. including renewals, extensions or modifications thereof, and in this Mortgage and in all other instruments securina 1he Note, to be kept. performod a observod by Mortgagor, then this Mortgage shall cease and be .oid, but sball aherwise remain in (ull fwce and e(fat. i Mongagor covrnants and agrea with Mwcgagee u(ollows: I t. Canpih~te witl Nolt a~d Morts~fe; Wua~tY ot Tilk. Mortgagor shall comply wi~h all provisions of the Nae, this Mort~e and of every other S instrument securina the Nae, and will ptomptly pay to Mortgagee the principal with interest thereon and all other sums requirtd to be paid by Mort~or I under the Note and pursuant to the prmisions ot this Mortgaae and oi every other instrument securing the Note. Mortgaaor is indekuibly seized of the Mort6aged Ptoperty in ta simpk and Mort~or has lawful authority to convey, inortgaae and encumber the same as provided by this Mortgage, and '~ doa hereby so rrarnnt. . 2. P~yoe~t o( Ta~es ~~d Lk~s. Mortgagor shall pay all the tua. obligations and encumbranca of every nawre now on the ~lon~ed Property or that herafter may be imposed upon this Mortgage or tAe Mo{tgaged Property or upon the indebtedness secured hereby, except that Permitted Licns may j be dischuged in accordance witti their tams. All such paymrnts to be made when due ud payabk ucording to law before they become deliquent and ~ before any interat attxha or any penalty is incurred. Insofu u any indebtedness is of record (exap~ indebtedness aiving rix to Permitted Liens) the same slull be promptly satisfied and evidence of suc6 satisfaction shall be 6ivrn to Mortaagee. 3. Iwrasce. Mortaagor shall Iceep ~he Mortgaged Property and the improvements now aisting or herafter erectcd on the Mortgaged Propcny insured as may be roquired from time to time by Mortgagee aaainst loss by fire, other hanrds and contingencies in such amounts and fw such periods as may be rcquired by Moregagee. Mortgagor shall pay promptly. when due, any premiums on such insunnce. All insurance shall be carried with compania approved by Mortgaaee and the policy and renewals thereof shall be htld by Mortsagtt and have attached thereto loss payable clausa in tavor and in ag form aoceptabk to Mortgaga. In the event of loss, Mortaagor shall give immedia~e naice by mail to Monaagee and Mortaaaee may make proof of loss if not made promptly by Mortgagor. Eaeh insurance company concerned is hereby authorized and directed to make paymrnts tor sueh loss directly to ' ~ Mwtgagee instead of tither to Mortgagor a Mortgagor and Mortgaaee jointly. Insurana procteds or any part thereof may be applied by Mortgaace at its 1 oD~~~. after deductina therefrom all i~s expenses includiag attorney's fets, either to the reduction of the indeMedness hercby secured or to the ratoration ~ or repair of the property damaaed. Mortgaga is hereby authorized, at its option, to settk and compromise any claims, awards, damaaes, riahts of action ~ and proceeds, and any aher payment or relief under any insurance policy. In the event o( foreclosure of this Mortaaae or wher transfer of tide to the Mort~ed Property iq extinguishment ot che indebtedness secured hereby, all ri6h~, tiQe, and interest of Mortqgor in and to any insursnoe policies then in foroe shall pus to the purchaser or yantte. Mortaaga may at its option roquire Mortgaaor to deposit with Morttaaee on tht first day of qch month, ~ in addition to making paymeats of principal and interat, until the Note is fully paid, an amwnt equal to,one-twditb (I/12) of the yarfy premiums for all ~ insunnce. Such deposUs shall not be, nor be docmed to be, trust (unds, but may be comminakd with the general funds of Mort~a, and no interat shall ~ be payabk in rap~ct thereof. Upon demand by Mortgaga, Mwtgagor shall ddirer to Mortaagee such additional monies u ue necessary to make up any ; deficiencia in the amounts neceuary to enabk Moneaga to pay such premiums when due. In the evrnt of default under any of the terms, covenants and conditioas in the Note,~this Mort~e or any other instrument securina the Note to be perfprmed or observed br Mon~o-. Mon~ee may apply to tl~e ~ reduction of the wms secured hereby, in such manner u Morteasee shall determine, any amount under this puaaraph «maininj to MortpsoPs crMit # and any return premium roaivod trom cancellation of any insurance policy by Mwtsaaee upon foreclosure of this Mortpse. ~ 4. Co~de~~atio~, If thp Mortaageed Proper!y or any put thereof ihall be damaaed or taken throu`h rnndemnation (which term w~hrn used hetein ~ shall iaclude any damaat or ukina by any governmenul authority or any aher authority authorized by the laws of the State of Florida a the United - Sata of America to so damaee or uke, and any transfer by private sak in lieu thereo~. either temporuily or pcrmanenUy, the rnare irdebtednas and ~ other wms secured hereby shall, at the option of Mortaagee, become immed'utely due and payabk. Mortpaee shall N rn~itled to all canpeewtion awuds, damaaes. claims. riahts of aclion and prceeeds of, or on account of any damage or qkina throush condemnation and is hereby aulhoriud, at its option. to commenoc. appear in and prosecute, m its own or Mortaagor's name, any ution or ptocoedina relatina to any condemnation. and to settk a compromise any claim in rnnnection therewith. All such compensation awuds, damaja, claims, rijhts of action u~d prooads. and any other paynknts a rctief. and the risht thereto. ue haeby assigned by Mon~or to Mortga a and Mort~a after deductin~ therehom all its expp~ses includinj attoraep's ~ foa may rekase any monia so reaived by it ~vithout aftectina the lien o this Mort~e a may apply the same. in such manner as Mott~es sl~aU deter- mine, to tMe reductioo of tbe sums secured hereby and to any prepayment charie providod in Qx Note. this Mort~e or any aher instrumeot s~cytir~ the I Note. Any balana ot sucb monia thrn remainin` shaU be paid to Mort~or. Mortyua a~rea to euavte such funha assi~amenes or any eomaensa- i tioas, awards, darn~a. daims, rishu of aaion and proooeds u Mort~a may require. - S. Cane ot Mortp~ rropert~. Mort~or shall no1 remove or demdish any buiWinE or aher property formins a put ot the Mort~aiM Properiy ~ without We w~ittrn oonsent of Mortaa~a. Mort~a shall na permit, commit, or suffer any wute, impairment or deterioration of the Mon~ed Prop- erty or any part theroof. and shall kap the same and improvements thercon in `ood condition ard repair. Mon~or shall natify Mayajee ~a writinj 4 wicWn five (3) dan of anr dama~e. or impaim~rnt ot tAe Morcpgod Propaty. Mort~a may, at Mort~ee's discraion. have tbe Mort~a`ed propaty ~ inspecyed u anr time and Mat~a shall pay all oosts incurrod by Mort~a~ee in execuanj such inspection. 800K 346 PaGE 2435 - - - ~~ ~ : . . . - '