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Home My WebLink About0029 1 U~ 1 b 4 5~ ^ ` s_~ `~c~[J IX~'i c~ •icic C ~--:ty ~C 7~; ` J~~ l..~rk ol i: ~,t C;outt ~redit Acces~~ - ;~,~~?~~:<s -~~By M o rtg ag e A~on~~ ~o~, D`pu`y This is a Balloon Mortgage securing a Variable Rete obUgation. Assuming that th~ initisl rate oi i~terest were to apply for the entire term of the Mortgage (and assun~ing that the maxlmum credit is drawn under this Agre~ment secured hereby)~ the final payment or th~ pNncipal balance due upon maturity wouid be approximately S , to9ether with accrued interest~ it any, and all advancements made by the Mo~tgagee under the terms of this Mortgage. The actual balance due upon maturity may vary depen• JS~~ ~L~~~~~~ S~ ~L~ -zt 2~~~_~~~ ~~J ~L~ _J__ ~L~ _ _ u~uy vu ~.~~o~~yoa i~~ u~c iin~v vi ~u~c~va~ su~i u~v o~iivuiii uioe~~~ aiitvoi i~~o r~~v6~iieiii?. This Mortgage ~s made th~s 15 day of December , 1S 89, by Donald L. Aarper and Norma M. Harper, His wi e , whoSe address is _ 281 DTW Archer Ave. Port St. Lucie FL 34983 , the Mortgagor(s) ~o~ntiy and severally. ~f more than one, here~n referred to as the "Borrower") and American Pioneer Savings Bank, a corporat~on oryan~zed and ex~st~ng urder the laws of the State of Fiorida, whose address is 989 South Federa! Highway, Stuart, Florida 34994 (the "Lender"). W itnesseth: In considerat~on of the premises and to secure the performance and observance of all of the covenants and cond~t~ons of the Secured Cred~t Access Agreement and Disclosure S±atement of even date herewith (the "Agreement"), executed by Borrower and del~vered to Lender, estabiishing a Credit Access Line of Credit (the "Credit"), w~th a r~iax- ~mum amount of credit ("Cred~t L~mit") of $ 11, 000. 00 and to secure to Lender the repayment oi the ~ndebtedness Evidenced by ~he Agreement, with interest thereon and the payment of all other sums, advanced ~n accordance herewith to protect the security of this Mortgage and to secure addit+onal advances, renewals, and exten- sions hereof and for and in consideration of the sum of ten dollars ($10.00), Borrower does hereby mortgage, sell, pfedge. and assign to Lender, !he follow~ng described property located in the County of St. Lucie State of Floncfa Lot 13, Block 55, Port St. Lucie section [wenty five, according to the Plat thereof, recorded in Plat Book 13, pages 32 and 32A f through 32I of the Public Records of St. Lucie Co., FL. ~ This nortgage secures future advances ~ which may be made pursuant to section Pre ared b 697.04, Florida statutes. The total p y~ amount of the indebtedness that may ~erican Pioneer Savings Bank 610 Delaware Ave. I be secured by this mortgage may de- Ft. Pierce, FL 34948 crease of increase fr~m time to time, B, Farley ~ but the total unpaid balance so secured ~ at any one time should not exceed a max- ~ i.mum principal amount of $11,000.00 r ~vhich has the address of 281 NW Archer Ave. Port St. Lucie, FL 34983 ~ Ffonda (herein "Property Address"); ~ ° Together with all the ~mprovements now or hereafter erected on the property, and all easements, r~ghts. ~ appurtenances and rents, all of wh~ch shall be deemed to be and remain a part of the Property covered by th~s mort- gage; and all of the forego~ng. together w~th said Property, are here~nafter referred to as the "Property". ~ Borrower covenants and warrants that it is ~ndefeasibly seized of the mortgaged Property in fee simple and E Sorrower has lawfut authority to convsy, mortgage and encumber the same, and will defend t~tle of the Property against ~ aIl cla~ms and demands, ex~ept as follows: ~ ~ _ rirs~ mor~KaKe irom uonaid L, iiarper and ivorma ei. narper, iiis wiie to . a : Harbor Federal S& L~ssn. securin~ an indebtedness of $38,000.00 and ~ encumberin~ the land. ~ ~ Borrower and Lender covenant and agree as follows: ~ # 1. Payment of Principal and Interest. Borrower shall promptly pay when due the pnncipal and ~nterest ~ndebtedness evidenced by the Agreerr~ent, late charges, and other charges prov~ded in the Agreement and ~n th~s Mortgage. 2 Prior Mortgages and Deeds of Trust; Taxes; Charges; Liens. Borrower shall perform all of Borrower's obl~gat~ons uncier any Mortgage, deed of trust or other security agreement w~th a lien which has priority over this Mortgage. ~nclud~ng Berrower's covenants to make payments when clue. Borrower shall pay or cause to be paid all raxes, assessments and other charges, fines and imp~sitions attributabie to the Property which may attain a pr~anty over th~s Mortgage, and shall provide evide~ce of such payments to Lender. Borrower covenants that either this Mortgage is permitted under the terms of any prior Mortgage, or Borrower has obtained the written consent of the prior Mortgagee to this Mortgage. Borrower further covenants that during the term of this mortgage, Borrower ~ sha!I not request or obta~n any future advance. modify, extend, increase, or otherwise alter the terms of any pnor ~ Mortgage. ~ r 3 Hazard Insurance. Borrower shall keep the ~mprovements now exisbng or hereafter erec!ed on the ~ property ~nsured against loss by fire, hazards ~ncluded within the term "exiended caverage", and such other ` hazards as Lender may require and in such amounts and for such penods as Lender may requ+re. The policy shall have a standard mortgagee clause runn~ng in favor of Lender and any prior Mortgagee as the+r interest may appear. Borrower shall furnish a v2r~f~ed copy af the same to Lender. ~QRK ~~5 PN~~ O~td B 355 ~ _ _ . _ ~ z ~ _ `'~~r`~`''`'"~ ~~M~~~'~~::~ =y~