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Home My WebLink About0939 T~IIS IS A BALLO~ON IrIORTGAGE SECURING A VARIABLE ~ATE OBLI~?ATIeN. AS5L'MING THA? 7HE INTfIAL RATEJ OF INTEREST WE~E TO APPLY FOR THB ENTIRE TEQM OF THE MORTt~AGE (ANB ASSUMING TNAT 1'HE MAXIMUM CAEDIT IS DRAWN UNDEA THE AGREEMENT S~CURED HEREBI~, 1'Hfi ~'INAL PAYMENT OR THE BALANCE DUB UPON MATURI'PY WOULl~ BE XPPgOX1MATELY $ SS . OUQ . 00 , TO~ETHER WITH ACCURED 1NTEREST, IF ANY. AND ALL ADVANCEMEN?S MADE B4 ?HE MOMGAGEE UNDER THE TERMS OF THLS MO~TGAGE. THE ACTUAL BALANCE DUE UPON MIIT(TjtTf1[ MAY VAjtY DEPENDING ON CHANGES IN THE j2ATE OF IN7EREST (AND THE AMOUNT DRAWN UNDEA ?HE AGREEMEN'n. EQUITY CREDITLINE MORTGAGE g , THIS MORTGAGE is made thls Sth day oi August ~~s955 , 14 86 by and between CHARLES E. GOODRICH, an unmarried adult ('McriQaQor') and FLORIDA NATION~?L BANB, Q national banlcin~ associatlon ('MortQaqee'). WITNESSETH. tt~at Mortgagor. !or and ~n consideratlon u! the premises and ?n order to secure ihe payment oi the principa] and interest on the A~reement (as hereinaiter deilned), Mortgagor hereby grants. assigns, transteis and morigages to Morigagee. iis successors and assigns lorever.lhe following described real property in St. Lucie Co~nty. Florida Lot 15, Block 7, Plat No. 2, BEAU RIVAGE, as recorded in Plat Bo~k 11. Page 25, , Publ~c Records of St. Lucie CountS, FLorida. ~ I.ESS AND EXCEPT all portions of the folloWing described property which lies in Lot 15, Block 7, Plat No. 2, BEAU RIVAGE; Begin at the Southwest corner of said ' Lot 15A bear North 71°1~?'I~"East along the So~ctherly line of Lots 15 and 15A a ~ distanc:e of 108.6(1 feet; thence North 83°Oy'15" ~lest a distance of 44.18 feet; ~ Thence South 71°12'13"West, a distance of 66.24 feet to a point on the Westerly line of said Lot 15A; Said point being the Point of curvature of a curve concave ~ to the East having a central angle of 3°10'36" and a radius of 345 feet; Then~e Southerly along the arc of said curve a distance of 19.13 feet to the Point of i Beginning. Recei+red M aav~s~ O~ xes T~ L/ ~'r r Due On C~~ss' . la'.~ . _ .~n~l Property, ~~_~~M[tv7t.RY `~IAM~' . ;lE "r ~ - ~,-.~t ~Y _ - Pu•s~~n: ~o t",h =r . , i l~~s Ot 1971. _ ~ , . : , . i<3.._:C YJIir2~S~ , . - :Y•ae "'p?-~;; - ~ _ ; ~ . Cerk Circuit Court, SG Lucie. CO.~ Fla. ~ - ~ (the 'mortgaged property") and the Mortgagor does hereby fully warrant the titte to mortgaged property and will detend ~he same against the tawtul clclims o1 all persons whom~.~ever. • PROVIDED ALWAYS, that ii CHARLES E. GAODRICH ; nse ame s ~ the maker(s) 01 that certain Equity Creditline Account Agreement dated tt~is date {the Agreement). ihe terms of which are incorporated herein by relerence. and his. her or their heirs, legal representatives or assigns, shall pay to Mortgagee all sums ~ advanced by Mortgagee pursuant to the tina oi credit e~ctended by the Agreement, which advances shall be in the mmumum ' principal sum ol S 55 , 000 . 00 , with interest an3 upon 1he terms cis provided therein (which Agreement provides that all ~nstullments of princiFal and inte*est are paryable ai the otiice ot Mortgagee, or at such o',her place as the holder ~ may designale in writing, cmd ihat each maker and endorser agrees to pcry all costs ot coil~.~r~n, including reasonable attomeys' tee, upon defa[uli, and ihai ii detault be made in ihe payme~~1 ot any required payrnent thereunder and such detault ~ is not made good ~n accordance wiih ihe temns of the Agreement then the entire principal sum and accrusd z.^.terest shall ~ become due and payable without notice at ihe optian of the holder thereot) and shaIl periorm and compty with each anct ~ every stipulation. agreement and covenant oi the Agreement and of this Mortgage, then this Mortgage and ttNe estate hereby ~ created shall be void, otherwise the same shall remain in lull lorce. Mortgagor covenants to pay the tmces and crssessments ~ or. the mortgaged property. to keep ihe improvements now existing or hereatter erected on 1he property insured against loss ~ by tire, hazards included within the term 'extended coverage", and such olhen c~uards as Mortgagee my require and in such amounts and for such periods as Mortgagee mciy require, wiih a company arpproved by Mortgagee, with a standard mortgage lc~ss clause payable to Mortgagee, the policy to be held by Mortgagee, and to keep the improvem~ents on the mortgaged property in good condition and repair_ This Mort~age shall secure not only e~sting indebtedness, but a:so such tuture advunces, whether such advances are ; obligatory o; to be mada at the optian af Mortgagee. or otherwise, as are made within twenty (20) yeaus irom the datQ hereoi. ~ to the same exteni as if such future advances were made oa 1he date ot the execution of itiis Mortgage, bui such secured ; indebtedness shall not exceed at any time twice the original principa: amount ot this Morigage plus interest, and disbursements i made to: the paym.ent ot imces. levies, or insurancs on tY~e mortgaged property, with interest on such disbursements. Any such € t-~ture advances, whether obligcriory or to be made at the option ol Mortgagee, or otherwise, may be made either pr~or to ~ or atier the date o1 any agreements now or herealter secured by this Mortgage. All covenants ctnd agreements contained in E this Mortgage shall be applicable to Qll turther advances made by Mortgagee to makc~r(s) under ihis future advance clause. t Should am~ ot the abeve covenccnts be broken then the Agreement and all moneys secured hereby shall, wiihout demand, ! it Mortgagee so elects, Qt once become due and payable and this Mortgage may be+ loreclosed, and all cosis and expenses ~ of collection and reasonable attomeys' fees, includ•:ng costs, expenses and attomeys' fees on nppeal, i1 collected by legal ~ prxeedings or through an attorney at law, shall be paid by Maker, an3 the same are hereby secured. ~ IN WITNESS WHEREOF. MortgQgor has eYecuted ihis Mortgage as ot the date firsi above set forth. ~ THiS IS A BALLOON MORTGAGE SECURING A VARIABLE jtATE OBLIGATION. ASSUMING THAT THE INTfIAL RATE i C~F INTEREST WERE TO APPLY FOR THE ENTIitE TERM OF THE MOjtTGAGE (AAtD ASSUMING THAT THE MAXIMUM ' CREDIT IS DRAWid UNDE~t THE AGjtEEMENT SECUjtED HE~tE~~, THE FINA:. PAYMENT O~t THE BALANCE DUE UPON MATITStITY WOULD BE APPQOXIMA'fELY $ 55,000.00 , TOGE?HEII WITH ACC~t[JED INTEREST, ff ANY, AND ALL A~VANL'&MENTS MAD£ BY THE MORTGAGEE UNDEk THE TE&MS OF THIS MOjt'PGAG~. 1'H£ ACTIJAL BALANCE DIIE UPON MATUftITY MAY VA~Y DEPENDING ON CHANGES IN THE ZtATE OF INTEREST (AND TH£ AMOUNI' DRAWN UNDEA ?HE AGEEEMEh'Ty. igned, aZed and delivered ir: our presenca: • ~!i' v / ' (SEAL; ( ortga9or; Charles E. Goodrich ~ '7'76955 •DL ~I Y_ 10 M 1'A,~_ ~$EpI,~ , ' ~ (Morlgagor) STATE OF FLOBIDA BOOK 511 P~~E ~~8 . - ~ - - ~c~tr ~ " ~ COtTt~1TTOF ~-artin : - ' ~ , ~ • ~T. LI~C:i _ . . ~ I. ~~Th r~ g rumen~wassw~m~oandsubsc iztilocgr ~thts dQyo~ August~q 86.by Charles E. Goodrich ~cj _ . • . ~ i::~:i QQ ~xre~x~s5~; . _ , .._.~.ci O~<~3! ~J § . - _ - . - - i