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8521'75 ~r~
FOR HOME EQUITY CREOITLINES -
Mort~aqe ~nd 8ecuHty AprosmeM
This MOrtgag6 is mede tfiis .2'~th- day d ,,Santemher, 1987 by 8nd betw~een
l,eo~ard I. Cottom~ Jr., a sin~le adult i'
~
~ ("MortgegOr"), ertd Bamltt 8ank of St. Lucie Cnunt~ ("Mortgagee"),
the address d which is 534~ .y,unah~ne ~tate Pa~j~,ygy Fee~,r Rog~, Fort P{eree.~~or{da :
WRnasseth:
WHEREAS, Mortgagor and Matgagee have eniered into an agreement whereby Mortgagor may borrow trom Mortgagee
an undeterm+ned sum not to exceed the maximum prinapal sum d **F{ thQ~±a_n_nd and no[i~Q**
together with interest thereon, ali as evidenced by the CreditLine Agreement
(the "Agreement'~ d even date herewith, executed by Mortgagor and de~ivered to Mortgagee, whereunder the outstanding
advanced principal may fluctuate up and do~wn frpn time to ti~ arrd a!I sums advanced under the Agrae~ttent or WhenHise
awed under the AgreemeM pertaining thereto shall be secured hereby. ar~d no no6ce d any advance need be recorded to
evidence such advance The Agreement by relerence is made a part hereof to the same e~ctent as tfiough set out in fuli herein;
NOW, THEREFORE to secure the pe~ormar~ce by Matgagor d all covenartts and conditions in the Agreement and in this
Mortgage and in a!i other instruments securing the Agteement, artd in order to charge the properties, interasts and rights
hereina~ter described with such payment and pertormance and to secure add'~tional advar~ces, renewals and extensions the~eof
and (or and in consideration of ihe sum d Ten and nai100 Odtars (510.00), MortgEigor does hereby mortgag~ seil, ptedge
and assign to Mortgagee: ~
Ths Mo~p~ed Props~tll
(A) All d the land in the county of st _ t.u~i e ~ayy:
'i .j.Qt 466~ Phase III~ NOL.IDAY P7NFS~ accerdin~ tn the P a~herenf~ as recorded in
' Plat Baok 20, Pages 19 and 19A through 19G, fo the Publie Records of St. Lucie
.~Q~x, Florida
to have and to hdd th~ sam~ together with all the impro~vements now or hereafter erected on such property and all fixtures
r~ow or hereatter atEached tl~ereta together with each and e~rery tenements, F~ereditaments. eas~nents, rights. Pow+ers. privileges.
immunities and appu~tenances thereunto belonging or in anywise appertaining and the rev~ersion and reversions, remainder
and remainders, and also all the estat~ right, 6U~ interest, homestead, right d dower, separate estat~, property, possession
' and daim wh~tso~er in law as w~ell as in equity c~! Mortgagor d, in and to t7~e same in every part and parcel thered unto
Mortgagee in tee simple. ~
I~ (B) 7ogether with a security interest in at1 txtures atiixed to and personal property, exGuding househdd goods which are
i not purchased with the proceeds d the Agreement, located on the property described in paragraph (A).
~ {C) Together with a!I rents, issues, profits, revenu~ income and other benefds from the property described in paragraph
(A) hered to be applied to the indel~tedness secured hereby, provided hawever, that permission is hereby given to Mortgagor
; so long as ra delault has occurred hereunder, to coBed, receiv~ and use such benef~ds trom the propeRy as they become
due and payabl~ twi not in advance thereol. ~
(0) Everything referred to in paragraphs (A), (B) and (C) hered and any asiditional property he?e~ter acquired by
Mortgagor and sut~ject to the 6en d this Martgage ar ar~y part d tl~ prope~es is h~ein reterred to as the "Mortgaged Property."
~ PROVIDEO ALWAYS, that ii Mortgagor shail pay ta Mortgagee the Ag~eement ai ihe Gmes and in the manner sGpulated
therein, and +n aN othef insiraments secwing the Agreement, including renew~ls, e~ctension or modfiication thereof, and in
~ this Mortgage and in all other instrumenis securing ihe Agreement, to be kept, per(ormed or obseroed by Mortgagor, then
this M4rtgage, shall cease and be void, but shall othervvise remain in tull torce and efiect.
.
~ Mort gor cavenaMs and
ga agrees with Mortgagee as tdlows:
i ~ 1. Compltance wftfi I4Qnse~ne~t and Mort~; Wmanty ot Tft{e. Mortgagor shatl comply with aN provisions d the
~ 'Agreement, this Martgage and d e~rery oiher instrument securing the Agreement, and vrnll ptomptly pay to Mortgagee the
~ principal with interest thereon and all od~er sums required to be paid by Mortgagor under the AgreemeM and pursuani to
the pravisi~ns of this Mortgage and of every other instrument securing the Agreerr~ent. Mortgagor cov~nants that Mortga~or
ay++ns and is ind~easibly seized of the Mortgaged Property in tee simpi~ that the Mortgaged Ptoperty is free from ~all
encumbra~ except as noted in iha legal descripdon abov~, that Mortgagor has law(ul authority to corwey, martgage and
encumber ihe same as provided by the Mortgage, that Mortgagee may peaceably and gu'~Cy enjoy the M~rtgaged Property,
and that Mortgagor will detend the Mort~ged Properry against the daims d ali persons whomsoever, and that Mortgagor
So warrants.
NO DOCUMENTARY 8TAMP TAX IS OUE AND PAYABLE NEREON 81NCE THE AaREEMENT SECUREO
HEREBY IS NO? A PR~MISE TO PAY A SUM CERTAIN. RULE i28-4.52{6), F.A.C.
~ S`U O O~ ~ lu previws ed6or+s re obso~ete 1t022t Rev Nov 88 (09~n
Received ~ ~ In paymen! Of Taxes ~
Dr~n p~ Cl-~ss "C"" Intangible Personai Property,
. P~rsuan+ ?e Ch3pfer 71, 134, Atts Of i971. •
I, D~UGLAS DfXON, ~ g00K 564 P~ ~95~
Clsrk Circuit Court, St. Lutis, Cpy F~ i
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