Loading...
HomeMy WebLinkAbout0914 ~:S 14 .~L; ' ~~df~( ~ 1. y J, f ~~r~rci Property Related ~Vith Fut~re Advar,ce ti10RTGAG~ . ~ / ? NIS M~JRTGAGE, made this 1~tt' day gf .1~51 ' , A.D., 19 ~,;~i ~ecween Frank Allen Shearer an An ra Cecil S~eater, s wi e (Mortgagor) and Sun Rank nf ~.t _i_nri~ Cnunt ~ ~ (Name of Bank! Mqrtgayeel; WiTNE5SETH, that Mortgago~, for and in consideration of ihe premises and ~n order to lecure the payment of the prir,cipal „nd interest on the note (as hereinafter defined), Mortqagor hereby grants, assigns, transfers and mortqagas to Mnrtgagee, its succeswrs 3nd assig~s forever, the following ciescribed real ~reperty in St . Luc ie :;ounty, Florida, to wit' Lot 20 and the South 1/2 of Lot 19, Blcck 47, Sl.h LUCIE PLA7.A,UNIT h0. 1, accurding to the plat thereof, asrecorded in Plat Book 5, pa~e 57, oi the Public Records 7~~j'~ St.Lu~ie County, F2orida. S c~1•~~'" ~ ~ ~S , • . . THIS IS A SECOND :~tORTGAGE - ' iy:i. l. _ . _ . , , cic. lJ:;,~, (p; Fld. hereinahcr referred to as the Mortgaged PropertY); and tfie Mortgagor does hereby futly warrant the tiite to Ytse iNortgaged Propertv a^d wilf defend the same against the lawful daims of altpe rsons om~oe er. PROVIDED AZWkYS, that if Frank Allen a~i~ An~ra Cecil Shearer , the Mtaker(s) (Insert Name(s)) oP that certain promissor~ note dated the date hereof (the Note?, their heirs, legat representatives or auigns shall pay to ",lortgagee Lhe principal surn of $~OL711.91. as evidenced bv thp Nnte, with ~nterest and i~pon the terms as p~Qv ded therein, che finaf maturity date of the Note and of this Mortgage being July 14 , ~g ,y~ , wh~ch ~ote provides that alf installmenu of principal and interest are payable at the office of Mortgagee, or at such other p~ace as the hofder may desic~nate irt writing, and that each maksr and endorser agree to pay alt costs of collection, including a reasonable attorney's fee, upon defautt in the payment of ihe fVote, and that if default be made in the payment of any installment thersunder and that if such default is not made good in accordance with the tem: of the Note, that the entire principal sum and accrued earned interest shali becarne due and payabie without noiice at the option of the holder thereof; and shali perform and cornply with each and every stipu- lation, agreemant and covenant of the Note and of this Mortggge, then tfiis Martgage and the estate hereby aeated shaN be void, otherwise the same shall remain in fulf for~e. Maker covenants to pay the imerest and principal promptty when due. Mortgsgrx covenants to pay ihe taxes and ass2ssments on said property; to keep Lhe improvements now existing or hereaher erected on the proper:y ir.sured against loss by fire, hazards included within the term "extended coveroge", and such other hazards as Mortgagee may req~ire and i~ such amour.is and for such periods as Mortga~ee may require, with a company approved by the Moriqac,~ee, with a stana~ard mortqage loss ctause payable to Mortgagee, the policy to be held by the Mortgagee, and to keep tt~e buildi~g an said land in proper repair. The loan represented by this Mortage and the Note is personal to the Mortgagar and the Mo~-tgagee made the foan to the i~tcrtgegor based upon the creci~t of ihe Mortgagor and the Mortgagee's judgment of the abifity of the Mlortgago~ !o repay a!I seems ~ue under this Ritortgage, and, therefore, this Morigage may not be auumed by any subsequent holder o~ an interest 6n the Mortgaged Property, except as provided herein, without the prior express written consent of the Mortgagee. If all or any part of the FAortqaged P~operty, or any interast therein, is sold or transferred (inGuding a tra~sfrr by agreement for dEed or land contractl by Mortgagor witf~out Nlortgagee's prior written consent, exct~ding (a) the creatian of a lien ar encumbrance wbordinate to Lhis Mortgage, (b) rhe creation of a purct;~se money security interest for houuhold appliance, (c) a transfer by devise, descent or by operation of Isw upon the dEath of a joint tena~t, or the grani of any leasehold interest of 3 years or less not containing an option to purchase, Mortgagea may, at Mortgagee's option, declare all sums secured by this Mortgage to be immediately due and payable. This Mortgage shall secure not or.fy existi~g indebtedness, but also such future adyances, whether such advances are obligaiory ~~r to be made at the option of Mortgagee, or otherwise, as are made within twenty (20) years from the date hereof, to the same extent as if such future adv~nces were made on the date of the execution of this Mortgage, but such secured indebtedneu shall not exceed at any time the maximum principal amount of $ n j.~ plus inte~est, and any ~isb~rsements made for the paymen: of taxes, levies, or irsurancx, on tfie Mortgaged Property, with interest on s~ch disbursements. A~y such future advances, whether obl+gatory or to be made at Lhe option of the Mortgagee, or othenn+is~, may be made either prior to or after the due date of the Note or any other notes secured by this Mortgage. All covenanu and agreements contained i~ this Mortgage shall be apolicable to all further ~dvances mad2 by Yortgagee t4 Maker under this future advance clause. Should any of the above covenanu be broken tt~en the Note and afl moneys secured hereby shall, without demand, if the `:iortgagee so elect, ai once become due and payable and this mortgage may be forecfosed, a~d aii costs and expenses of collectio~ ar.d eeasonable attorneys' fees, induding cosu, expenses and reasonable attorneys' fees on aD~eal, if coilected by lec,al proceedings or through an attorney at law, shall be paid by the Maker, and the same are hereby secured. IN WITNESS WHER~OF, the Mortgagor has executed this Mortgage as ot the date first above set forth. Signed, sealed and delivered f// ~ in our presence: ' ~ j 1 , , i y, ~ % ~ / ~ - •4/' 1 / ~ ~ ~ ,y~ ~ .o.~_ j , ~I 'F' ~ ~ ~i iSEALI ~ , (Mo gor C t.t~~~~- , ~ \ ~ 'G~~.~:~.x~ C ~ ' !SEAL) ~ (Mortga r ~ G r ~ i ° STATE OF FLO~iIDA ) ~ ~ ~ ~ ~ z.~~s ~ COUNTY OF St.Lucie 1 - . Q J ~ _ • i. S~ ~ I HEREBY CERTIFY, that on th~s day, before me. and of;,cer duly authorized in the Srate af~i~ssaid aifd ir z ~ ~ ihe County aforesaid to lake acknowledgmenu, persnnally appeared Frank Al len and Andr~_eec~ ~a~er ~e ~ tc me kno~vn to be the person described iti and~ whb' : a~ o executed the foregoing instrument and t Py acknowledged before me that ,~PX ` •y;- : ~ executed the same. „ , ~ WITNESS my hand and officizf seai in the C nty and State last aforesa~d this - day of " F cc _ ~t/ 1 ~ . A.7.. 19 . . ~ ~ ~ Rbtary Public ~ ~1 ~t KOTAAY h1SLlG STAIE Oi i(QRtOA ~ aQ,~ ~,R ~ ; ]4 ~ ,Yly Comm~ssion Expires: . , ~ j ~r Co~tsstow Exv. e~~ ~o, f~a9 4-6014-000-i (Rev. 4i&ll mw e~~o 1No-;; ;~x-a~; t,;. _ ~ - - ~ ~ ~ ~ - ~ x •.~,~„A~-~ ~ ~ ~ ~ ~ .