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Home My WebLink About0974 ,,c l ! - ~ ~ CJ (y ~ U ~S ~ ~ ~ ~ ~ Fixed Rate ` MORTGAGE Direct Property Rolated ~q ~3~ With Future Advance _ ~ THlS IS A BALLOON MOFiTGAGE AN~ TNE FINAL PRINCIPAL PAYMENT OR THE PRINCIPAL BALANCE DUE UPON MATURIYY IS 12,681.75 , TO(iETHER WITH ACCRUED INTEREST, IF ANY, AND ALL ADVANCEMEN7S MADE BY Tt~E MOFtTGAGEE UND~R 7HE TERMS 0~ TNIS MORTGAGE. MORTOA(3E ~ 4th Novem~er Fra~ ~s Saunders, ~ 7HIS MORTGAGE, made this - day of , A.D., 19 ~ between ___.1 Jr., a Single Adu1t (~yan9~or) and Sun Bank Treasure Coast, Nationa Association (Mortgageel; ' (NAME OF LENDER) WITNESSETH, that Mortgagor, for and in consideration of the premises and in order to secure the payment of the principal and interest on the note (as herei~after daftned), Mortgegor hereby grants, assigns, transfers and mortgages to Mortgagee, its successors and assigns forever, the following described real property in St .Lucie County, Florida, to wit: Lot 5, I31oci: 273 Pt. St. Lucie Section 3 a Subdivision according to the Plat thereof recorded in Plat Book 12, page 13A of ttie Public Records of St.Lucie Count~~, Florida. 2 ' THIS I5 A SECOND r10RTGAGE ~ THI.S IS NOT 1'tIE HOT?EST~'1D Or T1iE T10RTGAGQR (hereinafter referred to as tha Mortgaged Property); and the Mortgagor does hereby fully warrant the title to the Mortgaged Property a~d wiil defend the sam~ against the lawful claims of ~II p~rsons whomso~ver. PROVIDED ALWAYS, tfiat if ~'rancis 5aunders, r. , the Maker(s) of that certain (lNS~RT NAh1E1S)) promissory note dated the date hereof (the Note), his heirs, legal ~epresentatives or assigns shall pay to Mortgagee the 15,142.08 principal sum of $ as evidenced by the Note with interest and upon the terms as provided therein, the final matu- r~ty date of the Note and of this Mortgage being Nov . 4 ~ ~9 , whicl~ Note provides that all installments of principal and i~terest are payable at the office of Mortgagae, or at such other ;;!sca as the holder may designate in writing, and that each maker and endorser agree to pay alt costs of coitection, incfuding a reasonable aitorney's fee, upon default in the payment of the Note, arssi that if default be made in the payment of any installment thereunder and that if such defauit is not mede good in accnrd- dance with the te~ms of the Note, that the entire principal sum and accrued, earned interest shali become due and payabie without noiice at the option of the holder thereof; and shafl perform and comply with each and every stipulstion. agreement and covenant of the Note and of this Mortgage, then this Mortgage and the estate hereby created shall ba votd, othenvise the same shall remain in full force. Maker covenants to pay the interest and principal promptly when due. Mortgagor covenants to pay the taxes and assessments on said property; io keep the improvements n+ow existi~g or hereafter erected on ih$ property insured against lass by fire, hazards in- cluded wiihin the term "extended coverage", and such other hazards as Mortgagee mey require and in such amount and for such periods as Mortgagee may require, with a company approved by the Mortgagee, with a standard mortgage loss clause payable to Mortgagee, the policy to be hold by the Mortgagee; and to keep the building on said land in proper repair. The loan represented by this Mortgage and the Note is persanal to the Mortgagor and the Mortgagee made the loan to the E Mortgagor based upon tha credit of the Mortgagor and the Mortgagee's judgment of the ability of the Mortgagor to repay all sums due under this Mortgage, and, therefore, this Mortgage may not be assumed by any subsequent holder of a~ interest in the Mortgaged Property, excapt as provided herein, without the prior expreu written consent of the Mortgagee. If all or any part of the Mortgaged Property, or any interest ther~in, is sold or transferred (including a transfer t~y agreement for deed or land contract) by Mortgagor withoui Mortgagee's priar written co~:ent, excluding (a) the creation of a lien or encur~ibrance subordinate to this Mortgage, (b} the creation of a purchase money security interest for household appliance, (c) a t~ansfer by devise, descent or by operation of law upon the death of a joint tenant, or (d1 the grant of any leasehold interest of 3 years or tess not containing an option to purchase, tutortgagee may, at Mortgagee's option, declare all wms secured by this Mongage to be immediately due and payabfe. This Mortgage shall secure not only existing indebtedness, but also such future advances, whether 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 exient as if such future advances were made on the daie of the execution of this Mortgage, but such secured indebtedness shall ndt exceed at ~ any time the maximum principal amount of $~/a plus interest, and a~y disbursements made for the payment of taxes, levies, or inwrance, on the Mortgagac! Property. with interest on such dishursements. Any such future advances, wheiher obligatory or to be made at the option of the Mortgagee, or otherwise, may be made either prior to or after the due date of the Note or any other notes secured by this Mortgage. All covenants and agreements 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 covenants be broken then the Note and all moneys secured hereby shall, without demand, if the ; Mortgagee so elect, at once become due and payable and this mortgage may be foreclosed, and all costs and expenses of collection and reasonable attorneys' fees, including cosu, expenses and reasonable attorneys' fees on appeal, if collected by legal proceedings or through an attorney at law, shall be paid by the fl~aker, and the same are hereby secured. f IN WITNESS WHEREOF, the Mortgagor has executed this Mortgage as of the date first above set forth. ~ THIS IS A BALLOON MORTGAGE AND TH~ FINAL PRINCIPAL PAYIVIENT OR THE PRINCIPAL BALANCE DUE I?,, - UPON MATURfTY IS 12,6$1.75 , TOGETHER WI7H ACCRUED (NTEREST, IF ANY, _ AND ALL A~VANCEMENTS MADE ~Y THE MORT'GAGEE UNDER THE TERNiS OF TH MORTGAGE. Signed, sealed and deliv red . ,t in our presence: ~ . ~ ` i j ~ft~ i~.~ ' U ` ~ ~ (SEAL) ~ Fr cis S a~ ' c`~.- ~ T ~ (SEAL) ~ , ~ ~ (MORTGAGOR) ~ q ro~ STATE OF FLORIDA ) ~ z~-~+ COUNTY OF St . Lucie ~ ¢ ~ a, ' ro I HER~SY CERTIFY, that on this day, before me, and officer duly authorized in the State aforesaid and in ~ o~ the County afo?esaid to take acknov,rledgments, personally appeared Francis Saunders, .Tr. <A _ to me known to be t he person descri b e d in and who z~+ executed the foregoing inttrument and h~ acknowledged before me that he ~ ~ ~ executed the same. L~ i "r ~ v WITNESS my hand and official seal in the ,(;A~rlty and State last aforesaid this 4th day of a a rrovember `46~'.:.;,~; ~ , ~ E-+ o , A.D., ;'19 ~ ~ v) ~ ~ '-"~r~ • L.i'~-~4!~C'~(.,nG'~G~--~'L..: z ~ ~ - ~ ~ No.tary Rub(ic. ' ~ ~ o - !Ny Commission Expires: ~ Cn ~ ~ r I r~~ y . , ~ P4-6015-000•6 (Ftev. 6/86) mw ~~~'~~•:.'~~((~jSARY PU~t'fC StAit Of fl0itI0A \ - r 'i ~1(Y-.LOlf1iISSJON EXP ~9NE 15,1488 , C- G~.('•'~~~ ~ t;j (~j BOMDEO TNRU 4ENERAI tMS. UMD. c;:~ ~ . - ~ 1.. J . . ' ~ Y