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THIS INSTRUMENT PREPAREO BY:
Citizens Federai Savings and Loan Association
of St. lucie Cou~ty
1600 S. Federal Highway, Ft. Pierce. FL 33450
C. R. McDonald, Jr., General Counsel Loan ~ IL22048422
AGREEMENT NOT TO ENCUMBER OR TRANSFER PROPERTY
As an inducement to Citizens Federal Savings and Loan Association
of St. lucie County to grant c~edit to the underslgned under a promis-
so ry note for t he s um of $ THtRTEEN HUNOREO AND NO/100--------------DOLIARS-----
dated February 2, 1981 , and i n cons i derat ton thereo~', the unders i gned
(hareina~ter called "Borrowers"), jointly a~d severally agree that until
sald note and any exte~sion or ~enewal thereof shall have been paid in
full; (a) borrowers will pay all taxes. assessments, dues and charges
of eve~y kind, imposed o~ levied, or which may be imposed or levied upon
their real and personai property prior to the time when any of such taxes,
assessments. dues or charges sfiall become delinquent~and (b) borrowers
will not, +~ithout the consent in writing.of Citizens Federal Savings a~d
loan Association of St. Lucie County first had obtained and, (1) creatc
or permit any lien or other encumb~ances (other tha~ p~esently 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 foilowing described real property. situated in the
County of Saint Lucie . Sta te of F 1 or i da :
Lot 17, Block 49, INDIAN RIVER ES7ATES,
UNIT /7, according to the Plat thereof
as recorded in Plat Buok 10, Page 75 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 Horrowers now or hereafter owing to Citizens Federal
Savings and Loan Association of St. Lucie County, Citizens Federal Savings
and Loan Association of St. tucie County may~ at its election, in .
addition to a11 other remedies and rights wfiich it may have by law, declare
the e~tire remaining unpaid principal and i~terest of the obl'sgation or
indebtedness then remaining unpaid to Citizens Federal Savings and Loan
Association of St. Lucie County due and payable forthwith.
It is further agreed and understood that Citizens Federai Savings
and Loan Association of St. Lucie County may, in its discretion, and is
hereby authorized and pe~mitted by 8orrowers to cause thls instrument to
be recorded at such ttme and in such places as Citizens federal Savings
and Loan Association of St. Lucie County may, in its d'+scretion, elect.
8~348 PA~E~.184
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