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HomeMy WebLinkAbout1011 THIS ZS A BAI.LOON MORTGAGE AIvD THE FINAL PRINCIPAL 2 42 0? 5 5 ~ PAl'MENT OR THE PRINCIPAL BALANCE DUE UPON MATURITY IS ~(~5,819,gQ , TOGETHER WITH ACCRUED INTEREST, This Instrument Prepared By . IF ANY, ANb ALL ADVANCEMENTS MADE BY THE MORTGAGEE Cxnthia.L. Lutz UNDER THE TERMS OF THIS MORTGAGE. First National Bank b Tr. Co. of the Treasure Coast COMMERCIAL MORTGAGE 89A q~r I~HIS MORTGAGE is made this . _ . . . . .19th day o~ January . . . , 19 .9Q , betH~een the Mortgagor, . DANIEL S. McINTYRE, Trustee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (herein Borrower'~, and the Mortgagee, FiRST NATIONAI. BANK AND TRUST COMPANY OF THE TREASURE C04ST, a corporation organized and existing under the law~s of the United States of America, ~ti~hose address is P. O. Box 9012, Stuart, Florida 34995 (herein "'Lender'~. WHEREAS, Borrower is indebted to Lender in the principal sum of _SEVENTY-NINE. THOUSAND AND NO/100 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Dollars (S. . . . . . . . . . . . which indebtedness is e~ idenced b~~ Borrow~er's note dated . . . . , January 19. , 1990 . . . . , . . . (herein "tiote'~; and which Note contains a maturity date of . . . . . . February . 1, 1995 . . . . . . . . . . . . . . . . . . . ~I~O SECURE TO LENDER (a) the repayment of the indebtedness evidenced by the Note, with interest thereon, the payment of all other sums, with interest thereon, advanced in accordance herewith to protect the security of this Mortgage. and the performance of the co~•enants and agreements of Borrower herein contained, and (b) the repayment of any futuEe advances, with interest thereon, made to Borrower by Lender pursuant to paragraph 21 hereof (herein "Future Advances'~, Borrower does hereby mortgage, grant, and convey to Lender the following described property located in the County of . . . . . . . . . . . . . . . . . . . . . . . . ..._St._Lucie,,,,,,,,,,,,,,,,,,,,,StateofFlorida: Lots 17, 18, 28, 29 and 30, Block 1615, PORT ST. LUCIE SECTION TWENTY-THREE, according to the official plat thereof as recorded in Piat Book 13 at Pages 29, 29-A through 29-D, public records of St. Lucie County, Florida. ~ Rac Fee t ~ DOUDI.AB DIZON ` J - - - - - - - - ~ ~ STATE ~LORIDA ~ 1 Add Fe~ i St I.ude Cc?nab z DOLUMENTARY~> .,;;~STAM F'~i :y. I ~ ~'fC Te:c $ ~ S~_ Clerk of GYt+~It Gbt~t i. ~EO' "EVEN~JE - - ~ I ~ i ~a ~t Tax £ 4~ BY ~lj.~ _ - .IAN?3•99 ~s.,K ',P, ~ i ~ `i ~ ~ J _ _ ~e' , ! ~ ~ ~.-J Zlr; nfy Clrci[ , _ - ~ T~w{ S ~ ~ ~ i ~ , ' ~tihich has the address of , Savage Blvd. & Bouganvillea Ave. Port .St. .Lucie. . . , . . . ~ ; . ~ is«<ny . . . . . . . .~cay? i ; Florida 34953 (herein 'Property Address'~; ' i IS~ate ac Zip Code) j TOGETNER with all the improvements now or hercafter erected on the property, and all easements, rights, appunenances, rents, royaltia, mineral, t o~l, and gas rights and profits, water, water rights, and water stock, and all fixtura now or hercafter attached to the property, all of which, inctuding I replacements and additions thereto, shall be deemed to be and remain a part of the property covered by this Mortgage; and all of the foregoing, together uith said property (or the leasehold atate if this Mortgagc is on a leasehold) are herein rcferred to az the 'Property'. ~ BOR ROW E R covenants that Borrower is lawfu9ly seized of the estate hercby conveyed and has the right to mortgage, grant and convey the Property, € chat the Praperty is unencumbered, except as stated abo~•e; that thc Borrower will make such [urther assuranca to perfect the [ee simple title to the ~ Propcrt~~ in Icnder as may r~asonably be required, and that Borrower does hereby fully warrant the title to said Property and will dtfend the title to the ~ ~'roperty against all claims and demands, subject to any declarations, easements, or ratrictions listed in a schedute of exceptions to coverage in any title ~ ;nsurance policy insuring Lender's interes! in the Propeny. ~ BORROWER AND LENDER covenant and agree as follows: ~ I. PERFORMANCE. Borrower co~~enants to perform and comply with every covcnant contained in the Note(s), this Mortgage, and the Loan ~ Agreement dated ..1- 19 -90 . between Borrower and Lender. 2. PAYMENT OF PRINCIPAL AND It+iTEREST. Borrower shall promptly pay when dut the principal of and interat on the indebtedness ~ e: idenced by the tiote(s), prepaymrnt and law~ful charges as provided in the Note(s), and the principal of and interest on any Future Advances secured by ~ this Mortgagc. , ~ 3. FIiNDS FOR TAXES AND 11\SI;RANCE. Subjea to applicabk law or to a written waiver by Lender, Borrower shall pay to Lenderontheday monthly installments of principal and intcrest are payable under the Note, or at such other data az Lender shall designate in writing, until tht Note is paid ~ n full, a sum (herein "Funds'~ eyual to the corraponding pro rata share of the yearly taxes and assasments which may attain priority over this Mortgage, and ground rents on the Property, if any, pius thr corraponding pro rata share of yearly premium installments for hazard insurance, plus the corraponding pro rata share of yearly premium installments for mortgate insurance, if any, all as «asonably atimated initially and from time to time by l_ender un the basis of assessments and bills and reasonable atimates thereof. The Funds shall be held in an institution of Lender's choice, the deposits or accounts of which are insured or guaranteed by a Federal or State agency l ~ncluding Lender if Lender is such an institution). Lender shall apply the Funds to pay said taxa, assasments, insurance premiums and ground rents. ! Lender shall not be obligated to pay interest to Borroweron the Funds unlas required by law. Lender shall give to Borrower an annual accounting of the s ~unds, showing credits and debits to the Funds and the purpose for which each debit to the Funds was made. The Funds are pledged as additional ~ security for the sums secured by this Mortgage. ~ ~ If thc amount of the Funds held by Lcndcr, together with the future pro rata installments of Funds payable prior to the due dates of taxes, acsessments, ; , nsurancc premiums and ground rents.shall exceed the amount required to pay said taxes, assasments, insurance premiums and ground rents as thry fall ~ duc, such excas shall be , at Borrower's option, either promptly repaid to Borrower or crtdited to Borrowet on monthly installmenu of Funds, provided howevcr, the Lender shall be entitled to «tain in the Fund an amount equal to two (2) montha'payment :or taxa, assessments, insurance p::miums, and ground rents az a raen•e for increases in same. If thc amount of the Funds held by Lender shalt not be sufficitnt to pay taua, assasments, insurana premiums and ground rents as they fall due, together with the reserve provided in this paragraph, Borrower shall pay to Lendet any amount neoasary to make up the deficicncy within 30 days trom the date notice is mailed by Lenda to Borrowa raquzsting paymrnt thereof. 6o~K674 Fn~E1011 ~ ~ ~ _