HomeMy WebLinkAbout0987 ~vv J w..~ . ~ I
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18. Futuro AdvenCSS. This Mortgage is given to secure not only existing indebtedness. but also such fulure advances, ; ~
whether such advances are obligatory o~ are to be made al ihe option oi Mortgagee, or otherwise, as are made within twenty ; I
years from 1he date hereof, to the same extent as if such future advances v+rere made on the date oi the execution d this ~ j
Mortgage. The total amount o! indebtedness that may be so secured may decrease or increase irom time to time, but the =
iotai unpaid balance so secured at one time shall not exceet! twice the maximum principal amount now to be advanced under
ihe Agre~err~eM, plus interesl thereon, and any dsbursements made for the payment d taxes, levies or insurance on the Mortgaged ; ~
Property, with interest on such disbursements at the Deiault Rate. as hereafter defined. ~ i
19. Obllgatian of Mort~agor. Mortgagor shall pay the cost of releasing or satisfying this Mortgage ot record. ;
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20. No lransfe?. tt is understood and agreed by Mortgaga that as part d the inducement to Mo~tgagee to make the i
loan evidenced by the Agreemenl, Mortgagee has'considered and relied on ihe credit worthiness and reliability d Mortgag~r. ~
Mortgagor cc~u~enants and ag~ees not to sell, convey, transter, lease or further encumber any interest in or any part d the Matgaged ~
Property without the prior written consent d Mortgage~ and any such sat~ conveyance, transler, lease or encumbrance made
without Mortgagee's prior written cansent shall be Noid. If any person should obtain an;nterest in ~I or any part d the Mortgaged
PropeRy pursuani to ihe executwn or eNacernent d any lisn, securiry interest or other right, vW~ether supenor, equal or subadinate
to this Mortgage or the lien hereof, such event shall be deemed to be a transier by Mortgagor and an event ot detault he~eunder.
21. Default Rate. The Detault Rate shall be the highest rate permitted by applicable law. ~
22. Changea to Mortgage. A~ changes, altera6ons, deletions or additions to the substance d any paragraph in this Mortgage 1
which have been agreed to between Mortgagor and Mortgagee have been initialed by Mortgagor as additional prc~of oi
Mortgagor's consent.
23. Use of Borrowings. MoRgagor represents and wa;rants that none of the funds now or hereafter borrowed under k
this Martgage and the agreements which it secures will be used to finance or refinance the acquisition oi any 1 to 4 family `
dwelling (nCluding a condominium unit, cooperative housing unit, or a mobile home) mortgaged hereunder or under any 4
other agreement with Mortgage~ Mortgagor indemnifies and holds Mortgagee harmless trom amr and all loss, liab~lity, cost, ~
or expense arising irom arry breach d the foregang representation and war~anty. r
•24. Addltlonal Paragraphs. In the eveni Mortgagor and Mortgagee agree to turther covenants in this Mortgage requiring ~
an additional paragraph or paragraphs, such paragraph or paragraphs shall be attached to this Mortgage under the heading
of "Rider" and shall be part o( this Mortgage as it set out in full herein. ~
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IN WITNESS WHER~4F, ihis instrument has been executed on the date first above written.
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~ Signed, sealed and delivered i
~ in the presence of: ~
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~ ~ Ro ert , eBarto o " a
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- ~ e aR. eBa~oo
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` (Aff~x Seal if ~
~ Applicable) ~
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~ STATE OF FLORIDA ) ~
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~ COUNTY OF . St. Lucie ) y
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~ The foregoin~ instrument was ackno+Medged betore me this 16th d~ d June, 1987 '
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by ~Qlzert C DeBartolo and D~la R DeBartolo, his wife
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~87 ~ 24 A11 5 ~~ota Pu~~c. state ot ~or~ct~: at ~.arge~ ' .t ,
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OFILt'r^~`t;i; i;~,~.i.~;~~(~j M Commission Expires: ~ ~
sTUC - _ .':;t`t~ CLERK ~lobryPublic.s~c~~s~ ~ . .
i ~ i?'.: ~ 1 ~ ?es ~ . 990 .
~Y. FL, MyCommission ExP~ 16 1
'This paragraph must be completed prior to executing this Mortgage.
M pre»o~n e6toons are obs~~te.+.e ~t022t Re. Nw 86 (09t1~
Prepared by: Barnett Bank of St. Lucie County
p'R ~~Q~ 900 L. Prima Vista BZvd., Port St. Lucie, FI. 33452
800K 0
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