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Home My WebLink About0969 ±i 1 ~ / { ~HIS IS A BALLOON MORTGAGE SECURING A VARIABLE (ADJUSTABLE; RENEGOTIABLE) RATE OBLIGATION. ASSUMING THAT THE INITIAL RATE OF INTEREST WERE TO APPLY FOR THE ENTIRE TERM OF THE MORTGAGE, THE FINAL PRINCIPAL PAYMENT OR THE PRINCIPAL BALANCE DUE UPON I~iATURITY WOULD ~3E APPROXIMATELY $244,000.00 TOGETHER WITH AGCURED INTEREST, IF ANY, AND ALL ADVANCEF~ENTS MADE BY THE MORTGAGEE UNDER THE TERMS OF THIS MORTGAGE. THE ACTUAL BALANCE DUE UPON MATURITY 9~Y t7~RY DEPEIVDING ~ ON CHANGES IN THE RATE OF INTEREST. +~S ~ ~ f MORTGAGE DEED AND SECUR[TY AGRE~MF:NT THISMORTGAGEDEEDI~heMor~gagel,daiaias~ December 31 , ~q ~6 ,byandbetween ' ~ ~ James P. & Patricia~Sirois. ~,~.Q (,l}L~ ~1, ? Ihereinafter called Mortgagorl and Sun Bank/Treasure Goast National Association _ ,havingan oificeac 111 Orange Avenue, Ft. Pierce, Florida ~hereinafcercalledMortgageel; W ITNESSETH, that in consideration of the premises and in order to secure the payment of twth the principa! of, and interest and any other sums payable on the note (as hereinafter defined) or this Mortgage and the performance and observance of all of the provisicros hereof and of said note, Mangagor hereby grantt, ~ellti, warrant~, convey~, a»ign., transfers, mortgages and sets over and confirms unto Mortgagee, all of Mortgagor's estate, right, title and interest in, to and underall that certain real property situate in St . LuC ie County, Flo~ida, more particularly described as follows ' Lot 22, Block 1 of Thumb Point, as per plat thereof on file in Plat Book 10 at page 79 of the Public Records of St. Lucie ~ Count . ~ y Recelved ~ In Payment Of axef Due On C'as~ ~nta~~;ib'e Person~l Pro?erty. Pu•suant 7o Chap_er 71, 134, Act~ ~1971• ' ~ I~~~ CIE k C ClJlI COIJf~ LUC16~ ~ n8~ TOGETNFR WITN all improvements now or hereafter located un Sa~d re:~~propcny and all fixtare~, applian- ces, apparatus, eyuipment, fumishings, heating and air conditioning equipment, machinery and articles of personal property and replacement thereof (other than th~se owned by lessees of sa~d real property) now or here~fter affixed to, attached to, placed upon, or u~ed in any way in connectian with the complete and mmfo.?table use, occupancy, or opera- tion af the said real Property, a!! licenses and permits used or required in connection wi~h Ihe use uf ~aid real propc:rty, all leases of said real propeny now or hereafter entered into and all right, title and interest af Mortgagor thereunder, in- cluding without limitation, cash or securities deposited thereunder pursuant to said leaseti, and all rents, is~ue~, pro- ceeds, and profits accruing from said real property and together with all proceeds of the conversion, voluntary ur Invo- tuntary of any of the foregoing inw cash or liyuidated clain~s, including wilhout limitatiun, proceeds of insurance and candemnation awards (the foregoing said real pruperty, tangibte and intangible person~l property hereinafter referred t~? collectively as the Mor[gaged Property). Mortgagur hereby g~ants to Me~rtg:~ger a~ecurity interest in the fur~g~?ing Jr- scribed tangible and intangible personal property. - TO HAVE AND TO HOLD the Mortgaged Yroperty, tuge~her w~ith all and tiingular the ~enement~, hrredita- ments and appurtenances thereunto belonging or in anywi~e appertaining and the revcrsion and rever5ionti thereof :~nd all the estate, right, title, interes~, hamestead, dower and right of doHer. ~ep~r:~te e~tate, pu~uti>ion, ctaim and dcman~ whatscever, as well in law as in equity, of Alortgagor and unto the same, and every p;srt thereof, with the appurtenance~ oF Morlgagor in and ro ~he same, and every part and parcel thereof unto Mortgagee. Mortgagor warrants that Mortgagor has a ga~d and marketable tide to an indefeasibte fee estate in the real prup- erty comprising the Mortgaged Property subject to nu lien, charge orencumbrance rxcept ~urh as Mung:~gee ha~ agreed to accept in writing and ;19ortgagor covenants ihat this Mortgage is and will remain a valiti and enforceable mortgagc ~m the Mortgaged Property subject only to 1he exceptions herein provided. Mongagor hati (ull Exiw~rr anJ law~ful authunt~ to mortgage the Mo~gaged Property in the manner and i~orm herein done or intended hereafter to be dune. Mortgagur ; w•ill pre~erve such title and wilt forever warrant and defend the same tv (Lturtgager and w iN furevrr uarrant and defrnd the validity and priority of the lien hereof against ~he claims of all persons and parties whom.cever. ~ ~ I~lortgagor will, at the cost of Mortg:~gor, and without expcnse to Murtgagee, do, rxerute, arknow•Icdge an~l de- ~ liver all and every such further acts, deeds, coveyances, mortgages, a~signments, noticr~ uf assi~nment, transfers and assuranres as hlortgagee ~hall from time to ti~i~e reyuire in order tu pre~erve ~hr priurity ol~thr lien uf this Mungagr or t~~ facilitate the performance of the terms hereof. ~ ~ PROV D D, HOWEVFR, that i( Mortgagor shall pay ro htortgagee the indebtedness in the principal wm of i c~244,00~.~0 asevidencedbythatcertainpromi~.sorynote(theNotei,ofevendateherewith.oranyrenewalor i reptacement of such Note, executed by Mortgagor and payable to order of Mortgagee, with inrerest and upon the terms as pro f vided therein, and together wi~h al! other sums advanced by Mortgagee to or on behalf of Mor[gagor pursuant ro the Note or ~ this Mortgage, the final maturity date of the Note and this Mortgage as specified in the Note and shall perform all other : covenants and conditions of the Nore, all of the te~msof which Note are incorporated herein by reference as though set forth ful ly herein. and of any renewal, extension or modification, rhereof and of this Mortgage, then this Rlortgage and theestate hereby created shall cease and terminate. Mortgagor further covenant~ and agrees with Mortgagee as fc~l(ow~: " To pay a!! sums, including imerest secured hereby when due, as provided Cor in the Note and any renrw•al, M ~ extentiion or m~xfification thereof and in this Morigage, all such sums to be payable in lawful money uf Ihe United Stat~, ~ of America at Mortgagee's aforesaid pnncipal office, or at such other place as Mortgagee may designate in w~riting. ~ ' O ~ T~~ p:,y when due, ~nd without requiring any notice from h9ortgagee, dll taxes. a,~e.~ment~ of any type ~~r ~ ~ nature and other charges levied or assessed against the Mortgaged Property or ~his Mortgage and pmciuce receipts there- ~ ~ fore upem demand. To immediately pa}~ and discharge any claim, lien or encumbranre against the Mortgaged Pn?perty ~ ' which may be or become superior to this Morigage and to permit no default or delinquency on any ottier lien, encum- ~ ~ brance or charge against the Mortgaged Property. N ~ 3. !f required by Mortgagee, to also make monthly deposits with Mortgagee, in a non-intrrest beanng ac- ~ , i F ccfunt, toge~her with and in addilion to interes~ and principal, of a aum eyuat tu one-~~~elfth uf the ye:~rly taxes ;~nd ~ . sessments which may be levied against the Mortgaged Propeny, and (if so required) ane-twelfth of the ye~rty premiums O°Q .-ae.-ooo~, a<ae ~ : ~