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?O That Mo~tgapor w~N not p~rm~t ~ny otMr I~~ns lo b~ fd~d ~pa~~s1 th~ fa~d pr~m~s~f ~nd ~1 ~ny such I~~ns ar~ I~I~d. wl?*1~~~ pa~~mouM o~ su0o~
~.,ir w tA~s mo~lpap~ MOrIp~Qo~ wdl h~w a cws~ ~o b~ Md sa~d b~ns d~~ch~~p~d ~mmb~iNly
? 1 Mor~paye~ sh~ll Mv~ t~~s nQAI to cM~qt Mo~lp~por s~ccounl w~lA MOttpapf~ IOr 1h~ ~nt~r~~t and pnnC~Pal p~y~Dl~ as p+owd~d ~n Ih~ prOm~ssory !
~e .~s such b~tom~s du• ~n attordant~ th~r~wAh
22 il ~n~ Mor~paqN ~~pu~sts. MatQapa A~r~o~ covK+ani~ sno apr•~s ~n~~ Mor~p~por w~11 furmsl+ Ih~ Mw~pap~• a~nuauy f~om Ih~ d~l~ pl ii~~s
~ya9~ ~nsuum~nt unl~ss som~ otMr daa ~s ~qrNd ~o b~tvw~n iM pan~~s ~n wnt~np. a c~~UfHO aud~l~d i~n~nt~sl s1al~mtnt of ih~ Mat9~por ~nr1 annual
.:"~u~e~e opersunq st~t~m~nts ol MonQayo~ 11 th~ Mortp~qa's hual a c~l~nd~r y~u sha11 no~ canc~ w~~A tM dat~ M~~~n ~t~f~~d. tMn th~ d~~~ wh~ch
hlor~gsg~~ snan spauh sNau D~ conuoll~np Mo.tp~por iA~~t wppt~ Monpa9N wuh wch o~l+~~ b~anaal sut~m~ms as Mort9ap~~ msy from um~ io um~
~•a~,es~
23 ii ~s ~yre~d tnat noth~nq h~n~n conu~r~ na sny transactwn rN~t~d tMr~to sh~11 b~ constru~d a so ap~r~t~ as 1o rpw~~ tM MortpaQor to Wr
~e~es~ at a rst~ qr~st~r ~han at ~s now lawful ~n tueh uN to tonuaet for. o~ to m~k~ anY paYm~M a to do ~ny ac1 eonu~ry to Isw. tA~t d any tlaus~s or
~ti~s~ons ner~~n co~~~~~~d op~~a~~ a would prosp~cawty op~~~t~ to ~nv~I~d~t~ th~s MortQ~p~ O~ :a~d Not• ~n w1wN a~n part. tMn. wch claus~s and
u. ~s~o~s o~ly sA~ll b~ h~ld (O~ nauQt+t. as thouph not 1+K~u+ cont~~n~d. ~nd tM nm~~nd~r oi th~s Matqap~ ahsN nma~n opu~av~ ~nd ~n lull torca ~nd ~N~a
Z~ If all or any part ol tM mo+tpap~d ptOp~tty sha11 M dama~d O~ tak~n throu~h tond~mn~lw~ (wluch t~rm wh~n us~d ~n tMs matpsps sha11 m•
..de any Oamsp~ w tat~nq by ~ny Qov~rnm~ntal ~uthonry. ~nd any tr~ntlN by pnvat~ ttl~ in I~~u tMr~pq. NtMr t~mpOrinly pr p~tm~Mrttly. IM ~ntir~ ~n-
:roieon~ss s~eur~d Mr~Dy shau ~t tM optwn of tM MortQs~. b~eonN imm~~tdy du~ ~nd payabl~ TM Mon9a~ sMli b~ ~nut~d to ~U eomponsatwn
, a~ds. snd otMr paym~nts O? t~G~f thN~fo? ~nd H INt~Dy ~utAOns~d. at its optron. to comm~nt~, app~u w+ ~nd pro~cut~. ~n ~ts own a tM mwtyaQor's
~.~me. sny act~on or WotNdmp rNat~ to any Cw~mn~tqn. ~nd to NttN or totnpronus~ iny tla~m ~n Connltt~on tMt~vmth AN wth r.amp~nsai~n_
ewards. dama~~f. tla~ms. rphtt of ~Clwn ~~d proC~~di Md t1?~ npht tMr~to ar~ M+~by ats~~n~d py tM Mort~a9tu to tM MonQa~, who. Nrt• d~duean~
~~e~nirum su ~~s ~a~ns~s. ~ne~udu+p attwn~y's i«~. nu~ r~t~s~ sn~r n~wwys so r~e~~vsd py ~t vmehout sN~etinp tM !Nn ot in~s matpa~ a m~y spp+r tM
me ~n sucn mann~r ~s tM MottyapN shati d~t~rrrNM. to tM r~ductwn o1 tl» wms s~eur~d MrMy. and to any pr~paym~nt ehar~ Mr~in prov~d~d. and any
caiance ol such monays tMn r~m~,rnnp shall b~ pad to tM Mort~a~a. Th~ MortQapor ap:~~s to ~a~cua sueA funM+ sss~ n+~nts of sny com~nsstwns.
:+~ards dsmaq~s. tl~~ms, r~QMs pl KtWn •nd prOCNds ~f th! MOrtg~QN n1~y ?pwr~
25 Tn~s mort~s~ sl+~ll D~ tonstru~d ~S • s~tunty pr~~rr~nt un~Nr tM Fla~d~ Undo~m Commtrt,ul Cod~
16, OtAer prows~ons In the event this mortgage is ~unior and inferior to any other mcrtgage and/or
lien on the above-described real property, and this mortgage is given with full knowledge of such
superior mortgage and/or lien, that said superior mortgage and/or lien wi21 be paid by mortgagor
: in accordance with the terms and conditions thereof without regard to any grace period as con-
tained therein and failure to timely make any payment due thereunder will constitute an gutomacic
~efault in this mortgage and the whole fo said principal sum secured hereby shall immediately
become due and payable at the option of the mortgagee. Additionally, the default in the perfor-
: mance of any of the terms, provisions, covenants, or agreements contained in any superior mortgage
€ ard/or lien, or the commencement of any action to foreclose any said superior morbgage and~or lien,
~ shall canstitute an automatic default in this mortgage and the whole of said principal sum secured
~ nereby shall immediately become due and payable at the option of the mortgagee.
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IN WITNESS WHEREOF, the Matyspa hss sx~cuted th~st pns~nts und~r stai tht day snd ytsr first abow w~tt~n.
S gned, sesled snd dNiwr~d in the pns~na of: THIS IS A BALLOON I~DRTGAGE SECURING A VARIABLE (adjustable;
renegotiable) RATE OBLIGATION. ASSUMING THAT THE INITIAL
RATE OF INTEREST WERE TO APPLY FDR THE ENTIRE TERM OF THE
I~JRTGAGE, THE FINAL PAYMENT OR THE BALANCE DUE UPON MATURITY
WiOULD BE APPROXIMATELY $40,462.10, 1~OGETHER WITH ACCRUF.D
INTEREST, IF ANY, AND ALL ADVANCEMIIdTS MADE BY THE I~RTGAGEE
; UNDER THE TERMS OF THIS MORTGAGE. THE ACTUAL BAI,ANCE DUE UPON
` MAT MAY VARY E~NJ~}IDt N HANGE IN THE RATE OF INTEREST.
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~ ' E iz eth . Mallonee, his wife a~•~•-~wR~ j
E IDUAIACKNOWLE~GEMENT !
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~ STATE OF FI.ORIDA ~ I
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~ ~OUNTY OF ST. LUCIE ) ~
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4 Thc foregoin9 insvument wss scknowlfciyed betore ms this 2~th d~y of December
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E 85 , by JOHI3 D. MALLONEE, JR. • ~d ELIZABETH H. ;KALLONEE;-_ h~s wif ~
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:'Y Commission expiros: ~ ,'l . ~r~ ~
,.;~.'~;Y ~I~RLIi. STPTE OF fl(1RIDA _ ~~~~~K/ ~n/jt ~ 3~r ~
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; . - - ~ - , ~ ~ • . . 2~ .1987 • NOTARY PUBUC : - ~ ~ • ~ - ~
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