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Home My WebLink About1449 c.,,,'~~ Ple:i~e return this instrum~rlt to: Sun ~iank/Trt~a~ure Coast,\~~ I 3u~LL Y.O.Box 8, fort Yi~rce. Fi. 34954 ~ SUNLINE E~UiTY MORTGAG~E t te lbciiim io2z37a TNIS MORTGAGE, made th~s 17 th__ day of ~~nuary _ A.D., 19 90 between _ w'illiam Blazak and Betty ~1nn Blazak, his wife (Mortgagor)and ~ Sun Bank/Treasure Coast,Na[ional Association (Mortgagee). % (Name of SunBank) WITNESSETH, that Mortgagor, for and in consideration of the premises and in order to secure the payment of the principal and mterest on the Agreement (as hereinafter defined), Mortgagor hereby grants, assigns, transfers and mortgages to ' Mortgagee, its successors and assigns forever, the following described real property in _ S t. Luc i e County, Florida, to wit: ~ ' Lot 12, Block 149, SOUTH PORT ST. I.UCIE UNIT EIGHT, according to the Plat tt~ereof, recorded in Plat Book 14, Pages 26, 26~ througti 26D, Public Records of St. Lucie Countv, Florida. 'THIS IS A SEC~ND ~tORTGAGE {hereinafter referred to as the Mortgaged Property); and the Mortgagor does hereby fully warrant the title to Mortgaged Proper- ty and will ciefend the same against the lawful claims of a!I persons whomsoever. PROVIDEDALWAYS,thatif ~lilliam Blazak and Betty Ann Blazak (Insertname~s)) their ' The Account Nolder(s~ of that certain SunLine Equity Account Agreement dated the date hereof (the Agrezment), heirs, legal representat~ves or assigns shall pay to Mortgagee an undetermined sum not to exceed the current Credit Line in the principal sum of $ 20 , 000 . 00 as evicienceci by the Agreement, with interest and upon the terms provided therein. The final maturiry date gf the Agree~m~t~t and~~~Mortgage will be no tater than thirty (30) years from the date of execution of this mortgage or on anuary ("Maturi~Date"). The Agreement provides that minimum payments are payable at such place as ti~e Mortgagee may designate in writing. e Agreeme~nt further provides that each Account Holder agrees to pay all costs of collection, including reasonable attorneys' fees, upan default of the Agreement, and that if default be made in the payment of any payment and, if such default is not made good in accordance with the terms of ihe Agreement, then, the entire principal sum and accrued, earn~d interest shall become due and payable without notice at the option of the Bank. The Mortgagor agrees to perform and comply with each and ever~ stipulatian and covenant of the Agreement and of this Mortgage in which case this Mortgage and the estate created hereby shall Ce void, otherwise the same shall remain in full force. Upon penalry of default, Mortgagor covenants to pay all interest, all principal and all other charges when due. Mortgagor covenants not to furnish false or misleading information to the Mortgagee and not to errzploy fraud or material misrepresentation to obtain, rr~aintain or increase loan advances under the SunLine Equity Account Agr~ement. The Mortgagor agrees not to, whether through action o~ inaction, adversely affect Mortgagee's security interest or Mortgagee's right in such security interest. ~ Impingement of the Mortgagee's security interest constituting a default of the SunLine Equity Account Agreement inciudes, but is ~ not necessarily limited to, the following. The Mortgagor fails to pay the taxes and assescments on thp ~+repsrty. Thg Mortgagor f~sls to keep the improvements, now existing or hereafter erected on the property, insured against loss by fire, hazards included within the term "extended coverage" and such other hazards as Mortgagee may require and in such amounts and for such periods as hlortgagee may require w~th a Company approved by Mortgagee, with a standard mortgage loss clause payable io Mortgagee and ' with ihe policy held by Mortgagee. The Mortgagor comrrtits waste, destructively uses the property or fails to keep the structure(sj on i the premises in proper repair. The Mortgagor allows the filing of a judgment or foreclosure against the property by a prior Lienholder. ' The loan or loans represented by the Agreement and secured by this Mortgage are personal to the Mortgagar. The Mortgagee ~ entered into the Agreement with the Mortgagor based upon the credit of the Mortgagor and the Mortgagee's judgment of the ability of ~ the Mortgagor to repay all sums due ur~der the Agreement and this Mortgage. Therefore, this Mortgage may not be assumed by any ~ subsequent holder of an interest in the Mortgaged Property, without the pnor express written consent of the Mortgagee. Under the Agreement, the Mortgagor's right to receive future Loan Advances is conditioned on the fact that the real property which secures the ~ SunLine Equity Mortgage is the principal residence of the Mortgagor. If the Mo~tgagor requests a Loan Advance in contravention of j this condition, the Mortgagee may, at Mortgagee's option, declare all sums secured by this Mortgag~ immediately due and payable. ~ Likewise, if all or any part of the mortgage property, or any interest therein, is sold or transferred by Mortgagor without Mortgagee's } prior written consent such that the sale or iransfer reduces the value of or impinges of Mortgagee's security interest, Mortgagee may, ~ at Mortgagee's option, declare all sums secured by this Mortgage immediately due and payable. The Mortgage shall secure not only existing indebtedness, but also such future advances, whether such advances are obligatory or ~ to be made at the option of Mortgagee, or otherwise, as are made within twenty (20) years from the date hereof, to the same extent as ~f such future advances were made on the date of th ex ut~onof this Mortgage,but such secured indebtedness shall not exceed at ~ any time the maximum principal amount of $ 40 , 00~ . 0 S~ Plus interest, and 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 ~ ~nade at the option of the mortgagee, or otherwise, may be made either prior to or after the date of the Agreement, or any ather Hgreements secure~ by this Mortgage. All covenants and agreements contained in this Mortgage shall be applicable to ail future ~ advances made by Mortgagee to Mortgagor under this future advance clause. ~ Shauld any of the above covenants be broken then the Agreement and all mo~eys secured hereby shall, without demand, rf the ~ "rlortgagee so elects, at once become due and payable and this mortgage may be foreclosed. All costs and expenses of collecticn ~ ard reasonable attorneys' fees, including costs, expenses and reasonable attorneys' fees on appeal, if collected by legal pro- s ceedings or through an attorney at law, shall be paid by the Mortgagor, ard/or account holder and the same are hereby secured. k IN WITNESS WHEREOF, the Mortgagor has executed this Mortgage as of the date first above set forth. ~ Sigpred, seale nd delivered in our presence. r ~ ' (SEAL) s - ~ / % - ~ ~---5`-~--~" ~ ! f i ~ ~ ~ Y~_ _ ortga orl ~z ~a az -~~1 , _ ~ ~ ' ~ (SEAL) ~ ~_Ls= t~--~~~ - (Mo gagor) ~Qtty Ann Blaza ~ $~TATE OF FLORiDA COUNNOF_ Martin I HEREBY CERTIFY, that an this day, before meu,~4f~i,~er~~i~~ya~u~~iz~~~i~h~~a~~fQ~~aid and in the County aforesaid to take acknowledgments, personally appeare~"` o me nown o e person escribed in and who ex- ecuted the foregoing instrument and t hey acknowledged before me that they executed the same. WITNESS by hanc! and official seal in the County and State last aforesaid t s 17th ~,y of January 90 ' , ` (SEAL) / i i >~j. r ~ ' ~ ; This instrument was prepared by: . n;., . ~ Inga .J. Ernst, AVP ~V ARYPUBL , , Sun Bank Treasure Coast,~ational Association ,CommissionExpires: ` ~ . > ~ _ 2400 SE Federal Highway Stuart,F1.34994 ' ~ = : No documentary stamp tax is due and payable tgreort sin~e ~he l~eerrient : ~ ~.^aM :a~o33-ooo-a REV ~ i,89 Secured hereby is no~ promise to pay a sum certair4~R0~'f'f-4.52~6~F.CA=,,~ ~ . O R ~ Gi1TA~Y ~ui;::~ :~~A~= i~ ~;^~s~M'... 900K , ~s~r ccr±~~<<,io;, ; ,~`;;1.~ .5,~• . 675 PA~E1449 ~ - ` ' ~ ~ - . ~,~tiv~tl 1~7.1J l~_ ~~r,~~_ a~i~. , ';fS:lf - _...L_ _ »