HomeMy WebLinkAbout0954 e ~Q~ ~'GA ~O ~l~
FL.ORIaA
THlS MOi~TGAGE, made this 17th day of °C~`s~~` , 19 R~
~Y Curtis R. Farley and I.ois Farley ~
,
of 1649 So. Brocksmith Rd Ft. Pierca, .~`1 3345Q , Florida, hereinafter called Mortgagors,
tQ Kentucky Finance Co Inc Ft. Pierce, F1
3215 5 U. S. ~1 Ft. Pierce, FZ • 33482 hereinafter calted Mortgagee;
WITNESSE7N: In consideration of the principai sum set out in the promissory note oi eve~t date herewith hereinafter described, and
fo~ other valuable considerations, the Mortgagors da hereby qrant, bargai~, sell, alien, remise, release convey and confirm unto Mortgagee, e
its sucxesso~s and assigns forever, the foltowing described p~operty, situate in St. Luc~e Cnunty, ~lorida:
The Sast ~ of the North ~t of the South ~t of the
~ Southeast ~C of ~he Northwest ~ of Sec~kion 17,
Townshfp 35 South, Range 39~East, less road and canal
rights of way
- / 2br7,~-3
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~ ~f~1 F ~ L. ~ C-.~ ~ ~ ~ ReCelv@d $.~J~., 1- `^J:n~nt Of Taxes
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ll ~11 c h1 i A R Y<-;', ; 51 A t.a i' T 6'. i
~ - - bue On C'ass ' ? : ~ Ners~nal Properly,
D: F~T UF F.: ~lFJiUEf " ~ pursuant To Cn.,;~ er I1, 1"s~l, Ac.s Of I971.
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t, _ . ~ - cca~'i'&t i~,,~ *r *a - ~ ;'1 ~ ROGER Pfi{TR~~S
_ = :-=~r:~:
i Clerk Clrcuit Court, SL Lucie, .C~
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TOGcTHER WITN all and singular, the tenements, h~reditaments and appurtenances thereunto belonging or in anywise appertaining
and also all buildings, stuctures and other improvements now ar hereafter situate thereon.
TO HAVE AND TO HOID in iee simpfe the above g~anted and described premises unto Mortgagee. its successors and assigns forever.
The Mortgagors hereby covenant with Mortgagea that they are indef$asibly seized of said land in fee simpte; that the Mortgaqors have
~ full power and lawful rigt~t to convey the same in fes simpte as aforesaid; ihat it sha{I be lawfu! for Mortgagee, its successors and assigns,
' at aN times peaceably and quietly ta enter upon, hald, occupy and enjoy said land and every part thereof; that said land is free from ~II
encumbrances; that the Mortgagors will make such further assurances to perfect the fee simple title to said land in Mortgegee, its
successors and as3igns, as may reasonably be required; and that the Mortgagors do hereby fully war~ant the titfe to said tand and evary
part thereof and wiit defenci the same against the lawful claims of all persons whomscever.
PROVIDED ALWAYS, that if the Mortgagors shaN: 41) pay unto Mortgagee that certain promissory note, executed by them con-
curr~ntly herewiih, in ttse principal sum of 'Twel.ve Hundred Eighty Seven and 23/100 Dollars
(S 128~' 23 plus interest thereo~, being payable in monthly installments of S ~0. 00 ~ each, tfie first instal(ment due on
the ~day of 19 ~..Y; and ar~ additional instaltment to by paid on the ~ day of each succxeding
month thereafter (or on the ~ast aay of any succeeding month witfi has no such day~ until said sum has been paid in full except the
finst instaltment shall be t~e balance due and (2) perform al~ the covenants and conditions of said promissory note and any renewal,
extension or m9dification thereof, and of this mortgage, then this mortgage deed and the estate created hereby shall cease and be null
and void.
The Mortgagors further covenant and agree to and with Mortgagee:
1. To paypromptly the principal sum and other sums of money payable by virtus of said ~romissory note and of this mortgage.
2. 7o pay all the taxes, assessments and encumbrances of every n~ture now on said described property, or that hereafter may be t@vied
or ass~ssed ther~upon, when due and payabte before they become delinquent, and before any interest attaches or any penalty is incurred
and promptly fvrr~ish iNortgsgee with proof ot payment therefor.
3. To place and corstinuousty keep, on tha buildings now or hereafter siiuate on said land, fire and exte~ded coverage insurance in an
amount of not less than the amount which may frosn time to time be specified by the Mor2gagee, in such insurance com~any as may ba
ap~proved by Mortgagee; provided, havever, that if Mortgagee shall at any time Ese obligated to maintain fire and extended caverage
insurance on said buildings, the Mortgagors shall be excused from perforrt~anca of this ohligation to the extent of any such duplicate
caverage. A!I insurance policies of the Mortgagors shall conWin the usual stendarci martgagee clause making the loss under said policies
p~yable to Mortgagee as its interest may appear; and every such policy and all renewals tfi~ereof sh~ll be promptly delivered to and held
by Mortgagee, together with a receipt for the premium thareon. Mortgagee sha(I have the right to adjust with the insurer any losa under
any such policy, and any such adjustment shall be canciusive or+ the Mortgagors. Mortgagee shal! have the riyht to receive and collect all
prceeeda paid on any claim under any such policy, to endorse the Mort9agors' names to any check or other instrument of payment, and
to apply such prceeeds in payment of any amount due under this mortgage and the nnce secured h~~eby and any expenses incurred by
Ylortgagee in processing any claim under any such policy. Mortgaoee shatt pay tc~ the tvtortgagors the balance of the proceeds, if any, re-
maining after the aforesaid deductions. Nothing contained herein shall impair or abrogate the right of the Mortgagors to procure
insur8nce from an ageni or company of their own selection as provided in the insurance laws of the state of Florida.
4. In connection with any litigation to enforce the terms of this agreement, the prevailing party shall be entitled to recover all costs,
including but not limited to. a reasonable attorneys' fee and cost of abstracts Af title. '
5. To permlt, commit or sufter no waete, impal~ment or deterioratlo~ ot sald p!~perty or any part thereof, to keep and malntain !h^
asma, Including all buildings now Qr hereafter sttuate on sald premtaea, tn good conditton and repafr, ~nd promptly to maks ar~d perform
~t the Mortgagora' own expense, such repeirs and malntsnances as Mortqagee may irom tlme to tlme require, Monflayee being hereby
m~de the sold Judpe of the necessity therefor. .Witho~t Ilmlting the ~enerallty oi the toreQoing, tha Mortgapors ahall cause a!I such
bulldlnqs to be painted not I~as often'tlien bnce In ~very thres-year psrlod.
6. In ihe event the Mortqa9ors sh~ll fall to comply wlth ~ny Covenant contalned in paragraphs 2, 3, 4 or 5 hereof, Mortga~ee may ~
(but ahall hava no obll9atlon to) p~riorm such covsnant on ~ehatt of the Mortgagors and the tull amount of every payment made by M~rt- ~
gaqee tn auch connectlon shall bear intereet at the hlghest lawful contract ratg from the date ao pald and ahal! be secured by the Itan of
thla mort~a~e.
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