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THIS IS A!lALLOCN MQI1TGAt~t 8ECURINO A VARIABL~ RATR O~L1a~1TiON. AS3UMIN0 THAT THlt INiT1A~ RA'fIS
OF INTERBST W6RatQ I1Pr1.Y l~OR TMQ lNTIR~ TaAM O!~ THl~ MOATGAGl~,~AND A~SUMIND THAT THB MAXIMUM
CREOIT 13 ORAWN t~NQRA TNR ~1OR1IdMLNT sR~UR~ED H~Rd!l1t~. TH~ I~I~A~I~iPAI. RAYM~NT OR THR PR~N•
ciP~~ e~uHCa ou~t u'oN ~u?XUn~~r wou~o se ~Ppaox~~?T4~Y . Tooa~eA wi~ -
ACCRUED iNTBREBT.IF ANY, ANO AL~ AOYANCliM~NTS MAOQ aY THQ MORTQAQBE tJNOER TH~ T6RM~ QR THIS
MORTGAGE. THB ACTUA~.BAtANC~ DU6 UPON MATi~RITY MAY VARY DEPBNOtNQ ON CNANGE8IN?HE R11TE OF
INTERC8T (AND THE AMOUNI ORAWN UNOER THQ AGRHENl6NiT)~1 .
•
EQUITY MANAGEMENT ACCOUNT ~ ~ s~
MOR'TGAQE. , ~
,
TH18 MORTGAGE Is made this ~'~dey ol ~~ber• ~g~'by Robert ~J. McMackin and
Renee L. MeMackin, ths Mon~apor. (the "8onowei") and AMERICAN PIONEER 9AVIN03 BANK, a corpontlon
organfxed ~nd exlsUn~ under 1hs iews oi the State oi Fto~ida~ whoss addre~~ Is' 610 ~pa~]rware Avpnae Ftart pl,~ee~ F1~
(the "~.ende~.
WHEREAB. 8orrovw~ is Indebted to ~ender under an Equity Manapement A~roimen~ a~d Disctosun Stst~m~nt dste~!
• . . . ~ .
December 7, 19$7 , dnd extenatons and renewela theroot (heroln "A~roement"). prorridtnq ~or monthiy Instaliments ot
principal and Intero~~ Advences underths Aqreement shall be the maximum sum ot:~~~~•00
TO 3ECURB to Lender the ropeyment ot the lndebtedne~= svlden~~d by tM•Aqreoment, with Intsrest theroon; ths
payment ot ell other ~ums, with intsrest thereon. advsnced In accordance lterewtth to.protect tftdaecu~ityoi thla Mort~age; snd
the pe~fomnence oi ths covenants and ag~eements ot Bonowe~ hsreln contelned~ 8orrowerdoes hereby Mortgs~a. grant and
convay to Lender ths toilowing described Propeny located In the County ot St. Lucie • , Stats ot Fforida:
Lot 2, B1ock 388, PORT ST LUCIE SECTION TWENTY-EOUR, aceording to the Plat thereof, as
recorded•in Plat Book 13, pages 3, 31A through 31C of the Public Reeords of St. Lueie
County. Florida. ~
, 7c~yv~~ ~ ~o~~' ~~S / ~ / n~ ~ yJ V O o
• Reco ed S 7---- ~n Payment O{ Taxes .
pue On Ciass ~~C' Infang~b~e Persona) Properfy,
- Pu~s:=ar~ To Ch~pter 7f, 134,~Ads Of 1471.
~ DOUGLAS OIXON,
Clark Circuil Court, St. Lucie, Co.~ fla.
~ 0 Yardsle Port St Luc~.e F1. '
which hu th~ ~ddross ot ~ ~ - •
Florids (heroln "Property Addrose): •
TOGETHER with all the Improvements now or hsreatter e~ected on the property~ and eil ~~~aments. ~i~hts~ appu~tsnsnces
e~d rents. all oi which ~hall be deemed to bs ~nd romaln a~aR ot the Property covarod by thls Mortga~e; and atl ot the
toregotng. togethar with sald P~operty ~or the leasehofd eatate it this Mon~ape it'on a lsssshoid) aro hereineiter retened to as
the "Propert~'. ~ . -
Borrower covenents that 8orrower la lawtully aeized ot the estats hsreby conveyed and has ths ~t9ht to Mort~age. grant
end convey the Property, and thnt the Property is unencumbere~~ except tor encumbrances oi rocord. Borrower covsnqnts
; that Borrower wansnta and will defend generally the title ot the Prope~ty aqatnst all clatms and damands~ eubJect to
encumbrancea ot record.
: Borrower and lender covenent snd agroe as totlows:
' 1. Paymant o! P~Incipsl and lnl~rest. Borrowe~ shall promptly pay when dus ths ptfncipei snd Interost indebtednesa
; evidenced by the Agreement and late charges ss provided In thb AgreemenL
~ 2. Pr1or Mort~a~~sand Dt~ds ot 1'rus~ Tix~~; Chsrgsr, U~ns. 8orrower shell psriorm aii ot 8orrowers obligetlolia under
; eny Mortgage. deed oi tn~at orothar securtty agroement with e Ilen which has priorlty~ver tftis MoNgege, Inciudinp Bonowers `
~ covenants to make paynfenta when due. Bonower sf~ail pay or ceuae to be patd atl texe:. as=essment=and otherchar~sa. tlnea
and impositiona attrlbutab9e to the Propertywhich mayattain a priorityow~rthis Mat~ags:and le~sehold paymentsor.ground
. rents, it any, and ahell provide evidsnae ot auch paymsnts to Lender. 8orrowaraovanants that either thia mortgago ts petmitted
under the terms ot any prlor mortgage ar 8arrower haa obtained the writtsn coc?sent ot the pdor Mortgapee to thie Mortgage.
8or~ower funher covsnants that du~l~g ths term ot this Mohgage. 8onower sheil not request or obteln any ~uture advence.
modlly incresse. or othervWae alter ths te~ms of any p~ior MoA~a~e.
. 3. H~sa~d I~iunne~. Bar~~wer shetl keep ths Improvementa now existl~~ or hsroaftsr erected on ths Property in:urod
against loss by Ilre. hazardalnetuded vWthtn ths tsrm "extended coverage". and such oths~hueMs as lender mey roquirs and
in such amounts snd for auch pe~iods as Lander may require. The same shatl have a etendecd monqa~ea ciause runnin~ to any
prior Mortgage or lender as thelr interest appear and shatl tum{sh s ve~itied aopy of ihs eem8 to Lendet.
4. Pnsenatlon ~nd Matnt~n~nc~ of Prof»tly. Borrovver shatt keep ths PropeAy in gc~od repatr e~d shall not commit waste
or pennit impat~ment or deterioration ot the Propeny and shsli compl~ with the provisions of any lease It this Mongege is on a
leasehold. '
S. 8onower Not Relessed; Forbearanee By lender Not ~ Waiver. Extension ot 1he tirr~ for payment of moditication or
amoAizalian pt the auma secuted by this Mortgage ~ranted by lende~ to mny auccessor (n interest ot Borrower ahaii not operate
to i~leaae, in an~? ntmnner. the ilabili~y ol the o~iginal Borrower and Borrowera n~cceaaon U Iniarea~ lender shati not ba
required to commence proceedings againat auch aucceasar ~r retuae 1o extend ttme ior p~yment or othen~vtae madity
amoniza~ion~ol;the suma aecured by this Mortgage by reason oi any demand made by the originai 8orrower and 8onower's
auccessors in~lntereat. Any lorbea~ance by Lender in exercising any ~ight ar remsdy hereunder. or otherwtae allorded by
; appkcabie (aw, sfl~ll not be a watver o! or preciude the exercise of any auch righl or remedy.
E,~ 8ucces~ors •nd M:i9n~ Bound; Joint and Sererai Lisbllity; Casignen. '~he crnrenanta and agreements herein
' contained ah~~l b1nd, and the rights hereunder ahall endure to 1he respective aucceaaora and asalgna of Lender and 8arrower~
subiect to the provislon ot paragraph 16 hereot. All cove~ants ~nd agreementa ot 8orrower ahall be ~oint and severai.
~ ~M..,~~:~~ r-- 800K PAGE 9~
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