HomeMy WebLinkAbout0941 rity date of the Note and of this Mortgage being Oct . 14 , 19 92 , which iVote provides that all installments ~
of principal and i~terest are payabte ai the office of Morigagee, ur at such other place as the holder may designate in writing, and that
each maker and endorser agree to pay atl costs of col~ection, including a reasonabte attor~ey's fee, upon default in the payment of the
Note, 3nd that if defautt be made in ~he payment of any installment thereunder and that if wch default is not made qood in accord-
dance with the terms of the IVote, that the entire principal sum and accrued. earned interest shall become due and payable without
notice at the option of the holder thereof; and shall perform and comply with each and every stipulation, agreement and covenant of
the Note and of this Mortgage, then this Mortgage and the estate hereby created shatl be void, otherwise the same shall remain in tull
force. Maker covenants to pay the inierest and principal promptly when dus. Mortgagar 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, hazards in-
cluded within the term "extended coverage", and such other hazards as Mortgagee may require and in such amount and for such
periods as Mortgages may require, with a company approved by the Martgagee, with a standard mortgage loss 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 Mortgage and the fVote is personal to the Mortgagor and the Mortgaqee made the loan to the
Mortgagor based upon ihe crediYof the Mortgagor and the Mortgagee's judgment of the ability of the Mortgagor ta repay all sums
due under this Mortgage, and, therefore, 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 Mortgagee. If atl or any part of the Mortgaged
Property, or any interest therein, is sold or transferred (including a transfer by agreement for deed or land contract) by Mortgagor
without Mortga~ee's prior written consent, excluding (a) the creation of a lien or encumbrance subordinate to this Mortgage, (b)
the creation of a purchase money security interest for household appliance, (c? a transfer by devise, descent or by operation of law
upon the death of a joint tenant, or (d) the grant of any leasehold interest of 3 years or less not containing an option to purchase,
Mortgagee may, at Mortgagee's option, declare all sums secured by this Mortgage to be immediately due and payable,
• This Mortgage shall secure not only existing indebtedness, but atso such future advances, whether such advances are obligatory
or to be made at the opiion of Mortgagee, or otherwise, as are made within twenty (20) years from the date hereof, to the same extent
as if sucfi future advances were made on the date of he executio~ of this Mortgage, but such secured indebtedness shall not exceed at
any time the maximum principal amount of ~.~t~a _ plus interest, and any disbursements made for the payment of taxes,
levies, or insurance, on the Mortgaged Property, with interest on such disbursements. Any such future advances, whether obligatory or
to be made at the option of the Mortgagee, or otherwise, may be made either prior to or after the due date of the Note or any other
notes secured by this Mortgage. AIt covenants and agreements contairted in this Mortgage shall be applicable to all further advances
made by Mortgagee to Maker under this future advance clause.
Should any of the above covenants be broken then the Note and all moneys secured hereby shall, without demand, if the
Mortgagee so etect, at once become due and payabte and this mortgage may be foreclosed, and all costs and expenses of collection and
reasonable attorneys' fees, including costs, 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 heseby secured.
IN WITNESS WHEREOF, the Mortgagor has executed this Mortgage as of the date first above set forth.
THIS IS A BALLOON MORTGAGE AND THE FINQL PRINClPAI PAYMENT OR THE PRINCIPAL BALANCE DUE
UPON MATURITY IS 13-229.83 TOGETHER WITH ACCRUED INTEREST, IF ANY,
AND Al.L ADVANCEMENTS MADE BY THE 1AORTGAGEE UNOER THE TERMS OF THIS MORTGAGE.
Signed, sealed and delivered
in our presence: ,
i / ~
f/J` ' ~ .
I ' " , l /~]~.,.~~~t_ GC! 1 (SEAL}
' ' ~1 , IMOR'~DR~James W. Johnson
C i
''C/' ~~1 i % . `t-~ 1,) ' , r' 1 ! ' ~-'(SkAU
y IMORTGAGQRIpatrlCl'3 At. Johnson
o ¢ STATE OF FI.ORIDA ?
Q ~ COUNTY OF St .I.ucie ~
~ ~ I HEREBY CERTIFY, that on this day, before mt~, and officer duly authorized in the State aforesaid and in
' N p the County aforesaid to talce acknovrledgments, personally appeared James W. and Patricia ;t..Tohnson,
~ v his wife to Yfie known to be the person described in and who
; w~ ~ r~xecuted the foregoing instrument and _ the~ acknowledged before me that they
C g--{ v~ executed the same. ,
~ WITNESS my. hand and official sea! in the County a.r~5tate last'aforesaid this clay o(
v~i ~ E-i r . A.D., 19 - ~ ~ ~~t -
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N ~ ~ ' ' ~ , . . - . . -
? p ~ Notary Publi~
c7 My Commission Expires:
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~ PA•f015-000 6(Rev. 6l86) mw •
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Fixed Rate
MORTGAG~ ~ ~ Direct P~operty Related
_ 4Yith Future Advance
. , .
THIS IS A BAILOON MORTGAGE AND THE FINAL PRINCIPAl. PAYMENT OR TNE PRINCIPAL BALANCE DUE UPON U
MATURITY IS - 13.229.83 70GETHER WITH ACCRUED INTEREST, IF ANY, AND ALL
ADV/4NCEMENTS MADE 8Y THE MORTGAGEE UNDER THE TERMS OF THIS MORTGAGE.
MORTGAGE ~