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HomeMy WebLinkAbout0978 p ! ,~~~So~-~ /~G~~2-~~s~' ~1'~~~y' Si~Yl~.ltl~ / ~ , b f ~ ,3 0 tl ~~T~'' I~ SUNLINE EQUITY MORTGAGC E = . ' . ~ '";-~1.1.3;~ 3 ~ THIS MORTGAGE, made this 5th day of Novemher , A.D., 19 _~$,j~_ , ; ; between R ber~ W. ~.ge and 1~liss iane i.ee I.~~__ht s sa~ fe (Mortgagor) and Sun B~~Treasure Goast National A~~o _i a_i on (Mortgagee~. (Name of Sun Bank) } WtTNESSETH, that Mortgagor, for and in consideration of the premises and in order to secure the payment ~ of the principal and interest on the agreement (as hereinafter defined~, Mortgagor I~ereby grants, assigns, transfers ~ and mortgages to Mortgagee, its successors anci assic~ns forever, the following described real property in ; I.l~c~e County, Florida, to wit: ~ ~ Lot 26, Block 431, PORT ST. LUCIE, SECTION THREE, according to the ~ p1aG thereof as recorded in Plat Book 12, page 13A of the Public d Records of St. Liicie County, Florida. (hereinafter referred to as the Mortgaged Property); and ihe Mortgagor does hereby fully warrant the title to Mort- gaged Property and v,rill defend the same against the lawful claims of all persons whomsoever. PROVIDEO ALWAYS, that if _ Robert W. Lee and Alice Jane Lee ~ 1lnsert Name(s)) the Maker(s) of that certain SunLine Equity Account Agreement dated the date fiereof (the Agreement), their heirs, legal representatives or assi~ns shall pay to Mortgagee the principal sum of ~ 15,000.00 as evidenc~d by the Agreement, with interest and upon the terms as provided therein, which Agreement provides - that all installments of principal and intprR~t ?rP navab~e at the office of ~Vlortgagee, or at such other place as the holder may designate in writing, and tliat each maker and endorseragree to pay all costs of collection, including a reasonable attorney's fee, uporr default in payment of the Agreement, and that if default be made in the payment of any installment thereunder ar~d that if such default is not made good in accordance with the terms of the Agree- ment, that the entire principal sum and accrued, earned interest shall become due and payabie without notice at = the option of the holder thereof; and shall perform and compiy with each and every stipulation, agreement and covenant of the Agreement and of this Mortgage, then this Mortgage and the estat~ hereby created shall be void, otherwise the same shal! remain in full force. Maker covenants to pay the interesi ar~~ a~ incipal promptly when ; due. Mortgagor covenants to pay the taxes and assessments on said property; to keep the improvements now exist- ing or hereafter erected on the property insured against loss by fire, i~azards included within the term "extended ~ coverage", and such other hazards as Mortgagee may require and in such amounts and for such periods es Mort- ~ gagee may require, with a company approved by the Mortgagee, with a standard mortgage loss claus~ payable to - Mortgagee, the policy to be held by the Mortgagee; and to keep the building on said land in pr~per repair. _ The Mortgage shall secure not anly 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 extent as if such future advances were made on the date of the execution of this Martgage, but such secured indebtedness shall not exceed at any time the maximum principal amount of r. ~ $ 30,000.00 plus interest, and disbursements made for the payment of taxes, levies, or in- surance, on the Mortgaged Property, with interest on such disburseme?~ts. Any such future advances, whether ~ obligatory or to be made at the option of ti~e Mortgagee, or otherwise, may be made either prior to or after the - date of the Agreement, or any other Agreements secured by this Mortgage. All covenants and agreements contained ~ ii~ i~ ~s ~^y8y s!~:a!! hP ~~plicable to all further advances made by Mortgagae to Maker under this future advance ~ clause. ~ Should any of the above covenants be broken then the Agreement and all moneys secured hereby shall, with- ; out 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 attorney's fees, including costs, expenses and reasonable attor- ~ 'ney's 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 WlTNESS WHEREOF, the Mortgagor has executed this Mortgage as o he date first above set forth. _ ~ ; ~ oigned, led and deliver in o r resence: ~ ~ •r~ ` ~ fSEAL) ` o z u ` ^ fMortgagor Rob rt . Lee _ = w o ~aE~~~ vt.~ ~ ~ ~ ~ ~ (SEAL) 4 a (Mortgagor) Alic ane L e ~ a ~ STATE OF Florida 1 ~ ) $ ~ ~ COUNTY OF St. Lucie ~ „ ? w ~ I HEREBY CERTI FY, that on this da before m~- y. ~ y, officer duly authorized in the State aforesaid ~ ~ f~+; r,- . . ~ a ` and in the County aforesaid to take acknowled ~~per~:jri~Jty, appeared Robert W. Lee and A ice Jane Lee ~ F- x % rs:' ~ z ~ to me known to be tf~e person described iR~r~~~t~~ed the foregoing instrument and ~v r ~ ~ ~ they acknowledged befare. iih~'~j, ~ 4~ -they executed the same. _ ~ ~'%`'~t~., _ ~ ~ VVITNESS my hand and official seal in-tFi~.~c3~n~y:~rjt~State"last aforpsaid this 5th ~ ~ day of November p~ ' $b ; ~ ~ , :D.-1~9''~_ .'i ` ; . • I`,r. ~ (n,/,' ~-Z pi,[ ~ STA1E Of FIORIDII ' 4-6033-0OQ-4 (Rev. 2/83) dic ;~.~0 O r''~~-~ Public i1T COIIMISSION EIfP. MA1 28,1968