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Home My WebLink About0972 ~ ~ ~ ~ . ~ ~ ~~~.'i s .A ~ ~~,s'~~ t`x . . Direct Property Related ' With ~utura Advance . MORTGAGE ~ f ~~1~c~ THISMORTGAGE. m thia ~th daY 'of No m , A.D.,19 ~ , _ ~~n, James~. Mc e an Vera ricNeil ___iG wi _P - - (Moreqagor) and - ~~in RAn~Trnaciirp f:n,a~t N~t{r~na7 Acann~~rinr+- (11t~Oftyeg@9): (Nama of Bank1 WITNESSETH, thet Martgagor, for and in con3ideration of the premises and i~ order to secure the payment of the principal and intecest on the note (as hereinafter definedl, MortAagor hereby g~anU, assign sfe and mortqa~es to Mortgagee, iu successors and assigns forever, the fol~owing de~ribed real property in ~t~uc~e County, Florida, to wit: , Lots 1~ and 2, Block :.v~...~L °"D" c!?RT~IVISIQN, according to the Plat thereof, as recorded in Plat Book 9, Page 30, of the Public Records of St.Lucie (:rnmty~ Florida. THIS IS A SECOND MORTGAGE ~ . ~~.G (hereinaher referred to as the Mortgaged PropertYl; and the nnort~gor does hereby fuily warrant the title to the Mortgagad Propertv and will defend the same against the lawful claims of all persons whomsoever. PROVIDED A~WAYS, that if James A. and Vera H. McNeil , the Makerisl (Ins~rt Name(s)) - of that certain promissory note dated the date hereof (tha Note), ..~~~T heirs, legal representatives or assigns shall uay to Mc~rtgagee the principal sum of S~~ - 2~~ • 49 as evidenced by the ote,yuith interost and upon the terms as provided therein, the final maturity date of the Note and of this Mortgage being Novem~er / , t g..,~._ . which Note provides that all installments of principal and interest are payable at the office of Mortgagee, or at such otl~?er place as che holder may design~te in writing, and that each maker and endorzer agree to pay all ccuts of collection, including a reasonable attomey's fee, upon default in th~ payme~t of the Note. and that if default ba made in the payment of any installment thereunder and that if such default is not made gnod in accordance with the terms of the Note, that the entire principal sum and accrued earned interest shall become due and payaWe without rsotice at the option of tt~e holder thereof; and shall perform and compfy with each and every stipu- ' lation, agreement and covenant of tfie Note and of this Mortgage, then this Mortgag~ and the estate hereby cxeated shall be void, othervvise the same shaU remain in fuil force. Maker covanants to pay the interesi and principal prompdy when due. Mortgagor covenants to pay the taxes and aueuments on said propsrcy; t~ keep the improvements now existing or hereafter erected on the property iruured against loss by fire, hazards included vsrithin the tsrm "extend+ad covera~", and such other hazards as Martgages may _ require and in such amounu and for such periods as Mortgagee mey require, rvith a company approved by the Mortgagee. with a standard mortgage loss clause payable to Mortgagee, the policy to be held by the Mortgagee, and to keep the twilding on said land in - proper repair, The loan repressnted by this Mortage and the Nnte is personal to the Mortgagcr and the Mortgagee made the loan to the Mortqagor based up4n the credit of ~:e Mor4gagor and the Mortgagee's jud~nent of tha ability of the Mortgagor to repay all sums - due under ihis Mort~ge, and, tt~erefore, this Mortgaga may not be assumed by any subsequent holder of an interest in the Mortgaged Property, except as provided herein, without the prior expreu written consent of the Mort~ge~. If al{ or any p~ of ttse hlartgaged _ Property, or any interest therein, is sold or uansferred (including a transfer by agreement for deed or lanti contract) by Mortgagor without Mortqagee's prior written consent, excluding (a) the creation of a lien or encumbranca subordinate to this Mortgage, (b) the crx~~ion of a pvrchase money security interest for hausehold appliance, (cl a transfer by devise, descent or by operation of law upon the death of a joint tenant, or (d) tt~e grant of any leasehold intarest of 3 years or less not containing.an op4ion to purchase, Mortgagee may, at Mortgagee's option, declare all sums secured by this iVlortqage to be immediately due and payable. This Mortgage shall secure not only existing indebtedness, but also such future advances, v~hetfie~ such advances are obligatory or 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 sucfi future advances were made on the date of tfie executi4n of tfiis Mortgage, but such seaured indebtedness shall not exceed at any time the maximum principal amount of W n~a plus inYerest, and any disbursements made for the payment - of taxes, levies, or insurance, on the Morigaged Property, with interest on suct~ disbursemenu. Any such future advances, whether obligatory or to ba made at tha option of the Mortgagee, or ottisrwise, may be made either prior to or after ehe due date of the Note or any other notes secured by this Mortgage. All cavenants and agreemenu contained in this Mortgage shall be applicable to all further _ advances made by Mortgagee to Maker under this future advance clause. Should any of the above covenanu be broken then the Note and all moneys secured heretr/ shall, without demand, if the M~tgagee so elect, at once become due and payable and this mortgage may be foredosed, and all costs and expenses of collection and reasonable attorneys' fees, ir~duding costs, expenses and reasonable attorneys' fees on appeal, if collected by legal proceedings ~ or through an attorney at law, shall be paid by the Maker, and the same are hereby secured. IN WITNESS WNER~OF, the Mortgagor has executed this Mortgage as of tfie date first above set fortf~. ~ Signed, sealed and deli~ered „ in our p sence,~ ~ ~ ` - . ~ ~ i ~ ~ ~ (SEAL) ~ - - _(JNl9ct9a9or) ~ James A. rictveil / . ',~'n _ , } ~ (SEAL) ~ (Mortg~gor) y~j w Vera H, ~1cNei1 ~ ~ ~ STATE OF FL.ORIDA ) ~ ~ o St.Lucie 5 . . : ~ COUNTY OF ) L . ~ . . ; N ~ ~ "l`~ ' • ,.t"' . - ' ; c~n ~ I HEREBY CERTIFY, that vn tfiis day, before.rrte, and~offioer clulyf~au~ori~ed in the State aforesaid and i~ ~ i~ o the County aforesaid to~take acknowledgmenu, personally ap~6red,~, a~ "S'~ t° ~'Jera H. McNgil ~ W''' to me k n,~ ~t ~~~b~!4)ie penor~ describ~d in and who d executed ths furegoing instrument and *hp~a - itor~+~ledged'~~TOre me that rhPv } a~ os c: • - a r+ executed the same. ' • ~ ~ ~ ~ v1 ~y cd ~ r/l- ~ o ITN SS hand and official seal in the C and St~; '~afo s8id this day of = s e~ , A.D.. 19 ~ 41. c ~ ~ ~ ~ z " Notary Public . My Commission Expire3: HOtaqr PUBLJC S1AtE Oi' fIORIDA ~ty,r{, ~ L7 l~ ~ M' !'='!YISSION tzP JUME 15,1988 ~ 46Q1~l-004~7 (Rev. 4/84) rttY1/; f1 C~ i ~`.J_ • R~:;~~0 iHR'1 GEXERAI INS. UIfO. : t~