HomeMy WebLinkAbout0959 Doc Stamps 16 . 05 P v ~
In:. Tax 21.26
Rec F~e 9• o0 81343~
Direct Property Related
With Futu~e Advance
MORTGAGE f (~,,~i
THIS MORTGAGE, made this 13th day of M~rCh , A.D., 19 87
bgtWggn MAYiL1 Franr~n anr~ Mari a, Re}}~TF~~a~nn hi ~ cai fn (MOrt~90fj afld
Qtin Rarik/Trt~as»r~ CGla~t Nati~nal ~~i'i^:iAti6lii (MOrtga9ee):
(Name of Bank)
WITNESSETH, that Mortgagor, for and in con3ideration of the premises and in order to secure the payment of the principal
and interest on the note (as hereinaher defined), Mortqagor hereby grants, assigns, t~ansfers and mortqages to Mortgagee, its successors
and assigns forever, the following descri~ed real property in St Lucie
County, Florida, to wit:
Lot 6, Block 3332, of Port St Lucie, Section 52, a
subdivision according to the plat thereof, recorded
, g , P J L~,~ J I
in Plat Book 22 Pa e 19 of the ublic recards , ~
of St Lucie County, Florida . Recei~ed S~~~=- ~YmeM Of Tax
Due On Class ~~C~ lotnng F,le Pe~sonal Propetty,
Pursuanl To Chap~er 71, 134, Acls OE 1971.
DOUGLAS DIXON, j ~
C(ork Circuil Cour1, St. lucie, Co., Fla.
(hereinafter referred to as the Mortgaged PropenY); and the Mortgago~ does hereby fulty warrant the titte to the Mortgaged Property
and wilt defend the same against the lawfut daims of all persons whomsoever.
PROVIOED ALWAYS, that if Marin Franrn and Maria Franct~~_ hi~ wife , the Maker(s)
(Insert Name(s))
of that certain promissory note dated the d~te hereof (the Notel, t1,P i r heirs, legal representatives or auigns shall pay to
Martgagee the principal sum of $ as evidenced by the Note, with interest and upon the terms as provided therein,
the finel maturity date of the Note and of this Mortgage being Ma r~'h , 19 , which
Note provides that all installmenu of principal and interest are payabte at the office of Mortgages, or at such other place as the holder
may designate in writing, and that each maker and endorser agree to pay all costt of collection, including a reasonable attorney's fee,
upon default in the payment of the Note, and that if deiault be made in the payment of any installment thereunder and that if such
default is not made good in aocordance with the terma of the Note, that the entire principal sum and accxued earned interest shall
become due and payaWe without notice at the option of the holder thereof; and shall perform and comply with each and every stipu-
lation, agreeme~t and covenant of tt?e Note and of this Mortgage, then tt~is Mortgage and the estate hereby ~xeated shall be void,
otherwise the seme shall remain in fult force. Maker covenants to pay the interest and principal promptly when due. Mortgegor
covenants to pay the taxes and assessments on said property; to keep the improvements now existing or hereafter erected on the
property insured against loss by fire, hazsrds included witfiin the term "extended coverage", and such other hazards as Mort~agee may
require and in such amounts and for such periods as Mortgagee may require, with a company approved by the Mortgagee, with a
standard mortgage loas clause payable to Mortgagee, the policy to be held by the Mortgagee, and to keep the building 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
Mortgagor 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, tharefore, this Mortgage 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
Property, or any interest therein, is sold or transferred (including a tra~sfer by agreement for deed or land contract) by Mortgago~
without Martgagee's prior written consent, excluding (a) the creation of a lien or encumbrance subordinate to this Mortgage, (b1
the creation of a purchase money security interest for household app~ia~ce, (c) a transfer by devise, descent or by operation of law
. upon the deatfi of a joint tenant, or (d) the grant of any leasehold interest of 3 years or less not containing an option to purchese,
Mortgagee may, at Mortgagee's option, declare all sums secured by this Mortgage to he immediately due and payabte.
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 extent
. as if such future advances were made on the date of the execution of this Mortgage, but such secured indebtedness shall not exceed 1,
at any time the maximum principal amount of $ ~~A plus interest, and any disbursements made for the payment '
of taxes, levies, or insurance, on t?~e Mortgaged Property, with interest on such disbursements. Any such future advances, whether
obliqatory or to be made at the option of the Mort9agee, or otherwise, may be made either prior to or aker 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 Mortgages to Maker under this future advance clause.
Shouid any of the above covenanu be broken then the IVote 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 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.
!N WlTNESS WHEREOF, the Mortgagor has executed this Mortgage as of the date first above set forth.
Signed, sealed and delivered
~ in our presence: _
G,~~ ~
c~
(SEAL)
~ (Mortgagor)
Mario Franco 1
y ~ ! ~ ' cr ~ ~ / ~ ' ~ o'-r--Y~- ~ )~-~-~-~-v (S E A Ll
~~a o ~ ~ (Mortgagor~
W ~ ! Maria Bett Franco.
~ a STATE OF FLORIDA ) y
I d ,
W ~ ~
a ~ COUNTY OF St LuCie ) '
I a ~n , - . ' • ;
b I HEREBY CERTIFY, that on this day, before me, and office'r du~y•authorized iri the State aforesaid and in
z~ ~ the County aforesaid to take acknowledgmenu, personally appeared ~lJ~rin Franc~n
~ N ~ and Maria Betty Franco to me known -to be the persnn described in and who
~ executed the foregoing instrument and ~~T acknowfedged before.me that thev
executed the same. ~ '
? U aq WITNESS my hand and official seaf in the Cou tv and St 'last:afores~id' 's ~~"h , day of
x~ y A March A.O., 19 ~ ~
~ ~
~ Notary Public ~ ' , - ~ . ' •
My Commission Expires: . N;~~ ' .`c'! • : _ ; ,
- 0 5 3 5 P~~O 9 S 9 ` _ ,.•~t. . : . ~
~
46014-000-7 (Rev. 4/84) m
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