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HomeMy WebLinkAbout0976 lE'e~. 7~y ~ 8t~~~.a ~ T,~- 5lz.13 _n ~ .~s G3zli iPl Oirect Property Related With Futu~e Advance ~~;';~1.~3~. MOFiTGAGE THIS MOR7GAGE, made this 30th day of October , A p~~g86 between _._._Al.F.tl~~~s Forbes ~nd _j~el a Baker Earhes.__his_ wife (Mortgagor) and _ Sun S nk~Treas~i e Cnas Na ~ c~nal~cnri a i nn IMortgagee); ~ (Name of Bank) WITNESSETH, that Martgagor, for and in consideratio~ of the premis~s and in order to secure ti~e payment of the principal and interest on the note (as hereinaher defined), Mortqagor hereby grants, assigns, transfers and mortqages to Mortgagee, its successors i and assigns forover, the following described real property in S. l,~acie County, Florida, to wit: Lot 16, Block 4, IRENE PLAZA, according to the Plat thereof, as ~ recorded in Plat Book 9, Page 33, of the Public Records of St. Lucie County, Florida. ~ ~ THIS IS A FIRST MORTGAGE. (hareinafier referred to as the Mortgaged PropertY); and tfie Mortgagor does hereby fully warrant the title to the Mortgaged PropertY and will defend the same against tha lawful claims of all persons whomsoever, PROVIDED ALWAYS, that if Aj,nhe ~s ForUes and ldella B~ker Forbes , the Maker(s) (lnsert Name(s)) of that certain promissory note dated the date hereof (the Note), their heirs, legal representatives or assigns shall pay to Mortgagee the principal sum of R~~- ~ Q as evidenced by the Note, with interest and upon the terms as provided therein, the final maturity date of the Note and of this Mortgage being nrr~hPr ~4 , 1g ~b._., which Note provides that all installments of principal and interest are payable at the office of Mottgagee. or at such other placQ as the holder may designate in v~+riting, and that each maker and endorser agree to pay all costs of collection, including a reasonable attorney's fee, upon default in the payment of the Note, and that if default be made in the payment of any installment thereunder and that if such default is not made good in aocordance witt~ tha terms of the {Lote, that the entire principal sum and accrued earnad intersst shall become due and payable without ~otic~ at tha option of the holder thereof; and shall perform and comply with each and every stipu- ' lation, agreement and covenant of the Note and of this Mortgaga, then tfiis Mortgage and the estate hereby created shall be void, ~ otherwise the sama 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; to keep the improvem8nts now existing or hereafter erected on the ~ property insured againsi loss by fire, hazsrds included within the term "extended coverage", and such other hazards as Mortgagee may _ require and in such amounts and for such periods as Mortgagee may require, with a company approved by tfie 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 represented by this Mortage and the Note is personal to the Mortgagor and the Mortgagee made the loan to the Mort~gor based upon the 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 Mortgaga may not be assumed by any subsequent holder of an interest in the Mortgaged Property, except as provided herein, without the prior express written consent of the Mortgegee. If all or any part of the Mortgaged Pro~erty, or any interest therein, is sold or transferred (including a transfer by agreement for deed or land contract) by Mortgagor } without Mortgagee's prior written consent, excluding (a) the creation of a lien or encumbrance subordinate to this Mortgage, (b) : the creation of a purchase money security interest for household appliance, (c) a transfer by devise, descent or by operation of law ' upon the death of a joint tenant, or (d) the grant of any fessehold interest of 3 years or leu not containing an option to purchase, ~ Mortgagee may, at Mortgagee's option, declare all sums secure~ hy this Mortqage to be immediately due and payable. ~ This Mortgage shall s4cure not only existing indebtedness, but also sudi 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 extent ~ as if such future advances were made on the date of the execution of this Mortgage, but such secured indebtedness shall not exceed at any time the maximum principal amount of $ n~a plus interest. and any disbursements made for the payment - ~ of taxes, levies, or insurance, on the Mortgaged Property, with interest on such disbursemenu. Any such future advances, whether ' obligatory or to be made at the option of the Mortgagee, or otherwise, may be made either prior ta or after the due date of the Note ~ ar any ocher notes secured by this Mortgage. All covenants and agreemenu containecf in this Mortgage shall be applicable to all further advances made by Mortgages to Maker under this future advance clause. Should any of the above covenanu be broken then the Note and all maneys secured hereby shall, without demand, if the Mortgagee so elect, at once become due and payable and this mortgage may be foreclosed, and all cosu and expenses of collection and reasonable attorneys' fees, induding cosu, 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 WHEREOF, the Mortgagor has executed this MortgagE as of the date first at;ove set forth. • Signed, sealed and delivered in our presence: t, ~ ` . ~ t G o (Mortgagor) Alpheus Forbes (SEAL) ~ a . ~ „ _ c~ ~ ~ :i ~ '~~~G~.~-~.~ ~ Q-.-. c.~:-~~~-.~ 4~G2~2;f~'~G ~f" ~,tP~L ~ } z u ,a. (SEAL) o „ N (Morigagor) Idella Bak~r F`orbes W ~ N ~ ° ~ STATE OF FLORIDA ) na. V • - W ~ ~ COUNTY OF St. Lucie ) ~ - N ~ : r, - ~ ~ I HEREBY CERTIFY, that on this day, before me, aqd`af{FiCer~d ly authorized in the State aforesaid and in ~ ' •'A~ heus Forbes and ~ W 3 H the County aforesaid to take acknowledgmenu, personally{~~~fed p s _ Idella Baker Forbes - y ~ x ,,.-,.~o: me~knQy'yn to ~ be the person described in and who ~ o ~ executed the foregoing instrument and thQX~ ',i" ackhtSvl~l~iged before me that they t- ~ h : ~ c.*,.~ N ~y ~ exECUted the same. ~ : ~ ~ : . , ~ . ~ WITNESS my hand and official seal in the Ca,u and t83~~~s~fo esaid this 30th day of y ~ ~ Octo~er , A.D., 19.~::..~_' ~ .~~,t.e~ •:s ~ Notary .ic ~p ;;b ~ My Commission ~xpi[~5: NOTARY PU9LtC STATE Of FlOaIDA ' NY CONMISSION EXP. IIAY 28,1~?3 4•6014-000-7 (REV. A/841 mwf. ~f1 D1(;~ i 1 1~ n BOi6E0 THAU fi~IIERAL IIiS. uh~.