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Ex~-cu~~i ~hp 2nd day o/ February A. D. i9 81 6y
ALAERT NEMETH and PATRICIA NEMETH, his wife
~ereino)ter called Ihe mortgagor, to
OSCAR T. MAIN and MILDRED L. MAIN, his wife
hpreina(ler callpd 1he mo-lgagep:
IWI .. used 6erci~ the te-on "mwtaa~~or~ aed "a~ortta`te•• i~clude a!1 ~ putin ~o tw iaurust~t s~d t6e Aeinj
kRal rep~eaenati~t~ a~d aw as o( i~dn~dual~. aad t!e wcce~~n ~ud aoiRws d carporation: ud tle terw "wte•
iacludes dl tbe sutes 6~rei~ ~ribed iI sore t~aw we. i
~~~~e~~ Ihat for good and ualua6le c~onsiderations, and also in consideratlon oj the aggre-.
gale sum namec~ in Ihe promissory nole o~ pven dale herewiih. I~ereinaller descrt6ed, t~e mortgogor ~e-e-
6y granls, 6argains, seUs, a[ieru, remi:es, conveys and con~irnu un~o i6e mortgagee a!! tl~e certain land
oj which the mwtgagor is now seized and in possession :ifuale in St . Lueie C~~~7•
F~loridu. aiz:
Lot 1, i~fAIN SUBDIVISION, according to the plat thereof on file
in Plat Book 14, Page 30, Public Records of St. Lucie County,
Florida.
In the event a transfer of the property secured hereby~ whether-
4 by sale, gift, devise or otherwise the obligation secured hereby
! shall be due and payable in full unless the transfer is approved
~ in writing by the Mortgagee, which approval cannot be unreasonably
; withheld and the Mortgagee shall have the right to increase the
~ interest rate payable hereunder to a rate not to exceed 1% less
~ than the rate then being paid on '~money market certificates''
; by First Federal Savings & Loan Association of Fort Pierce or
, Citizens Federal Savings & Loan Association of St. Lucie County,
; provided, however, that such interest rate increase shall not
exceed 17o during the first two years of_ the obligation secured
~ hereby and shall not exceed 2~% during the first five years
~ of the obligation secured hereby.
Mortgagor further grants to Mortgagee hereunder a security
interest in all furnishings, fixtures, appliances and effects
located in, on or about, the above described property together
with additions and repZacements thereto, and this Mortgage
shall be deemed to be a Security Agreement for the purpose of
granting and perfecting such security interest.
This is a purchase money first mortgage.
I
~n the event payments an, and prepayments of principal exceed 29~ during any give-
year of the first five years of the obligation secured hereby, then a prepayment
penalty shall be payable as follows: {a) during each of the first three years
3% of the amount by which the sum of prepayments made in any such year exceeds
20% of the original principal amount of such obligation; and (b) during the fourt~-
and fifth years 3~ of the amount by which the sun of prepayments made in any suc~~
year exceeds 20% of the original principal amount of such obligation. .
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OUF On CI.~ .c ..r•• tnla~r}~b1e PPrSOna~ orc,; °'1Y:
DurSUBnt 10 Ch.7p:P~ 1 i.`. 3~. actg ~t ;4~~ •
R~~iEA PviTRA.S ~T
~_tip.y ~~rcu,t f,o:~n. :it. Luue. Cro•. Fle.
BDDK347 ~~~17J
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