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HomeMy WebLinkAbout0957 . ~a~~~A~~ ~~c~v~~ ~u~~~ Fi,ORIDA 7NIS MORTGAGE, made this 12th day of 5epternLier 8~fi ~ bY Henry Cl~,yton and Cdrolyn Clayton ' of Z'OZ King~2.e~+ Dr Ft. Pierc~ , Flurida, hereinafter called Mortgagors, to Kantucky Finance Co Inc Ft. Pierce, F1 . 32I5 S U. S. 1~1 Ft. Pierce, F1 . 33482 hereinafter catied Mortgagee; WITNESSETH: In consideration of the principal sum set out in the promissory nate af even date herewith hereinafter described, and for otherva(uable considerations, the Mortgagors do hereby grant, bargain, sell, alien, remis~{~el~a~C,ie nvey and confirm unto Mo~tgegea, itx suscessors and assigns forever, the following describa~l property, situate in ~ County, Florida: Lot 231 Sheratan Plaza ~ Unit 3 Replat Plat Book 16 Page 12 Public Records St. Lucie County ~ y~ Ky Received $ _ I~ Pa~{ ent Of Taxes C..~' _ _ - - - - . ~ ~ :v t~~~-• ; ~r -1~ - ; D~~ On C'ass In an i:> c Personal Pro;~ertY~ ! - L? ~ C t.% ` , f - i~.. ) ~ C.~ ' ty_i:i_,i ~1` : ~ P~ suant To Chap cr 13•;, Ac:s Of 1971. ~ LFi( tir Ftti'f ,~Fr 5!,QT~i`i~j~i1 ~ F _ - ; ~ # RJCEi2 ?cilTi2~\S ~ . =--rb- -C~F c4~t6 y _ C ~ Cerk Circui: Court, St. Lucie, Go., Fla. ~ ~ ~S ! ~ - ~ TOG~TMER WITH all and singular, the tenements, hereditaments and appurtenances thereunto belonging or in anywise appertaining and also all buildings, stuctures and other improvements now or hereafter situate thereon. TO HAVE AND TO HOLD in fee simple the above granted and described premises unto Mortgages, iu successors and assigns forever. The Mortgagors hereby covenant with Mortgages that they are indefeasibly seized of said land in fee simp~e; that tha Mortgagors have full poaver and lawful right to convey the same in fee simpte as aforesaid; that it shall be lawful for Mprtgagee, its successors and assi9ns, at all times peaceably and quietfy to enter upan, hofd, occupy and enjcay said land and every part tfiereqf; that said land is f~ee from all encumbrances; that the Mortgagors will make such furiher assurances to perfect tfie fee simple title to said land in Mortgagee, its wcaessors and assic,~s, as may reasonably be required; and that the Mortgagors do hereby fuNy warrant the title to said land and avery part thereof and wili ~iefend the same against the lawful claims af alt persons whomscever. PROVIQED ALWAYS, that if ihe Mortgagors sha!!: (t) pay unto Mortgagee tflat certain promissory ~ote, executed by them con- Four Thousand Nine Hunc3red Seventy Three and 44/100 currently herev,rith, in the principal sum of Dollars 4973.44 ~~us interest thereo~, being payable in monthly installmenu of $ 187. UO each, the first instailment due ort the day of 19 , a~d an additionat instaltment to by paid on the day of each succe~ding mantfi thereafter (or on the last day of any succeeding montfi with has no such day) until said sum has been paid in full exoept tfie finaf insWllment shall be the balance due and (2) perform all tt~e covenants and conditions of said promissory note and any renewal, extension or Modification thereof, and of this mortgage, tt~en this mortgage desd and the estate created hereby shall ceasa and be nult and vaid. C The Mortgagors further covenant and agree to and with Mortgagee: ~ ~ 1. To pay prQmptly the principal sum and other sums of money payable by virtue of said pramissory ~ote and of this morigage. 2. To pay all t(ie taxes, assessments and encumbrances of every nature now on said described,property, or that hereaft~r may be levied or assesse~l thereupon, when due and payable before thay become delinquent, and before~any interest attaches or any penalty is incvr~ed and promptfy fumish Mortgagee with proaf of payment therefor. 3. To place and continuously keep, o~ the buildinc,~s now or hereafter situate on said land, fire and extended coverage insurance in an amount of not less" than the amount which may from tim~ to time be specified by the Mortgagee, in such insuranc~s company as may be approved by PAortgagee; provided, honrvever, that if Mortgagee shall at any time be obligated to maintain fire and extended coverage ~ insurance on said buildin9s, the Mortgagors shall ba excused from performance of ihis obligation to the~extent of any such duplicate co+~erage. A!I insurance policies of the Mortgagors shall cantain the usual standard mortgagee clause making the loss under said policies payable to Mortga~e as its inte~est may appear; and every such policy and all renewals thereof shall be promptty delivered to and hetd ~ by Mortgagee, together with a receipt for the premium thereon. Morigagae shall have the right to adjustwith the insurer any loss uR~er any such policy, and any such adjustment shall be conclusive on ihe Mortgagors. Mo~tgagee shall have tfie right to receive and collect atl p~oceeds paid on any claim under any such p~licy, to endorse the Mortgagors' names to any check ar other instrument of payment, and w apply such proceeds in payment of any amount due under this mortgage and the note secured hereby and any expenses incurred by ~ilortgagee in processing any claim under any such policy. Mortgaoee shali pay to ti~e iNortgagors the balance of the p?oceeds, if any, re- maining after the aforesaid deductions. Nothing coniained herein shall impair or abrogate the right of the Mortgagors to procure insurance from an agent or company of their own selection as provided in the insurance laws of the state of Flo~ida. 4. !n c~nnection witn any litigation te enforce the terms of this agreement, the prevailing party shall be entitled to recover all cosu, including bue not limited to, a reasonable attarneys' fee and cost of abstracts of title. 5. To pArmtt, commlt or ~uffer no waste, Impalrment or deterloratlon of sald pr~perty or any part thereof, to kee~ And ma~ntain t+~a aame, Inctudlnfl all bufldings now or hereafter sltuate on s~ld ~remises, In gaod condltton and repalr, and promptly to make and perfiorm at the Mortgaqora' own expanse, such rep~ira ~nd maintenances as Mortg~gee may trom tlme to tlme require, Mortflaflee being hereby made ths sold Judge of the necas~lty theretor. W(ihaut Ilmltln~ the yanerallty ot the foregoing, the Mortgagora ahall cauae alt auch bultding~ to be palnted not less often than once 1n every three~year p~rtod. 8. In the event ths Mortgagors shall fall to comply wlth any coven~nt contalned In paragrapha 2, 3, 4 or 5 hereof, Mortgagee may ~ (but shall have nc obIIQB~tfon to) penorm such ccvenant on bohalf of the 14tartgaQors and the fuN amount af every payment made by Mort- ~~ee in such cannecti+~n sh~ll bear Int~tsat at the hlQhest lawful coMract rete Irom the date so ~aai6 and shall be secured by the Ilen oi thls martQafle. BOOK PAGE .+T t 1 I O ~ . . . .