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Home My WebLink About2048 Sut,line ~1 y: 10 2 2 6 0? t ~~~DOUGLAS D1X0 r ~ . s ___~.ec t.~e co~~~~~ ~ SUNLINE E~UITY MORTGAGE ~ C~iel[ af GSrcuit C . l' c ~ ' I'~.~ 1.~1 J ~r~~ THIS MORTGAGE, madethis `ytt~ _ dayof ~~nuary ~c~ A.D., 19 C~~ - r-~ between ______tiugh T. Carciey II and Ingrid Carney, his wife' _(Mortgagor)and .cillll uiiili~jiTt_'u51iIL ~vu~t~ +:S~l~i~ui riSj~:C.iu~ivii - (Mortgagee). (Name of SunBank) WITNESSETH, that Mortgagor, for and in consideration of the premises and in order to secure the payment of the princiFal and inter~st 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 ie County, Florida, to wit: - - ' Condominium Parcel No. 4172 of SE~SCf'1YE I, a Condominium, according to the Declaration ef Condominium thereof, as recorded in O.K. Book 338, Page 1033, together witll all amendments thereto, public records of St. Lucie County, Florida. (hereinafter referred to as the Mortaaaed Pronertvl: and the Mortoaoor does hPrahv f~ ~uv wartanr rr,p r~rip r~ IUnrfn~nn~i Prnrinr_ - : - . _ - - . ty and w~tl det~nd the same against th~ lawfui claims of all persons whomsoever. PRQVIDEDALWAYS,thatif Hugh T. Carney II and Ingrid Carney, his wife (Insert name(s)) The Account Holder(s) of that certain SunLine Equity Account Agreement dated the date hereof (the Agreement), the i r heirs, legal representatives or assigns shail pay to Mortgagee an undetermined sum not to exceed the current Credit Line in the principal sum of $ 2 S. 000 . 00 as evidenced by the Agreement, with interest and upon the terms provided therein. The final maturity date of the Agreement and this Mortgage will be no later than thirty (30) years irom the date of execution of ihis mortgage or on .Tanuarv 29, 2020 ("Maturity Date"). The Agreement provides that minimum payments are payable at ~uch place as the Mo~tgagee may designate in writing. The Agreement further provides that each Account Holder agrees to pay all costs of collection, including reasonable attorneys' fees, upon defauft of the Agreement, an~ that rf default be made in the paymeni of any payment and, if such default is not made good in accordance with the terms of the Agreement, then, the entire principal sum and a~crued, earned interest shall become due and payable without notice at the option of the Bank. The Mortgagor agrees to perform and comply with each and every stipulation and covenant of the Agreement and of this Mortgage in which case this Mortgage and ths estate created hereby shall be void, otherwise the same shall remain in full force. Upon penalty 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 employ fraud or material misrepresentation to obtain. maintain or increase loan advances under the SunLine Equity Account Agreement. The Mortgagor agrees noi to, whether through action or inaction, adversely affect Mortgagee's security interest or Mortgagee's right in such sec~rity interest. Impingement of the Mortgagee's security interest constituting a defauft of the SunLine Equity Account Agreement includes, but is ~ot necessarily limited to, the following. The Mo~tgagor fails to pay the taxes and assessments on the property. The Mortgagor fails 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 ~/ortgagee may require with a Company approved by Mortgagee, with a standard mortgage loss clause payable to Mortgagee and with the policy held by Mortgagee. The Mortgagor commiis waste, destructively uses the property ar fails to keep the structure(s) on the premises in proper repa~r. The Mortgagor aAows the filing of a judgment or foreclosure against the property by a prior Lienholder. I The loan or loans represented by the Agreement and secured by this MoRgage are personal to the Mortgagor. The Mortgagee er~tered into the Agreement with the Mortgagor based upon the credit of the Mortgagor and the Mortgagee's judgment of the ability of ~ th Mortgagor to repay atl sums due under the Agreement and this Mortgage. Therefore, this Mortgage may not be assumed by any ' su~sequent holder of an interest in the Mortgaged Property, without the prior 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 E SunLine Equity Mortgage is the principal residence of the Mortgagor. If the Mortgagor requests a Loan Advance in contravention of F this condition, the Mortgagee may, at Mortgagee's option, declare all sums secured by this Mortgage immediately due and payable. Likewise, if all or any part of the mortgage property, or any interest therein, is sold or Vansferred hy Mortgagcr without Mortgagee's ~ prior written consent such that the sale or transfer reduces the value of or impinges of Mortgagee's security mterest, Mortgagee may, ` at Mortgagee's option, declare all sums secured by this Mortgage immediately due and payable. ; The Mortgage shall secure not only existing indebteciness, but also such tuture advances, whether such advances are obligatory or s 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 if such future advances were made on the date of the executionaf this Mortgage,but such secured indebtedness shall not exceed at any time the maximum principal amount of $ plus interest, and disbursements made for the pay~ent 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 mo~tgagee, or otherwise, may be made either prior to or after the date of the Agreement, or any other ~ Agreements secured by this Mortgage. AI! covenants and agreements contained in this Mortgage shall be applirable to ali future ~ advances made by Martgagee to Mortgagor under this future advance clause. ~ Should any of the above covenants be broken then the Agreement and all moneys secured hereby shall, without demand, if the 4 Mortgagee so elects, at once become due and payable and this mortgage may be foreclosed. All costs and expenses of collection ~ and reasonable attorneys' fees, including costs, expenses and reasonable attorneys' fees on appeal, rf collected by legal pro- ~ ceedings or through an attorney at la~^/ , shali be paid by the Mortgagor, and/or account hoider and the same are hereby secured. ~ IN WITNE$S WF-~1 RE F, tre Morig~gor has executed this Mortgage as of the date firs ove set forth. ~ ~d, s ed a defiuered' presence. (SEAL ~ - ~ Y =~v. - - ) ~ ~ ; ortg gor Hu T Ca ne II ; ~ % _ ~ c. ~ ~ ~7~ <<_ ~ - (SEAL) l - - (Mortgagor} grid Carney STATE OF FLORIDA ~ COUNTY OF St. Lucie Hugh T. Carney II and Ingrid Carney I HEREBY CERTIFY, that on this day, betore me, an officer duly authorized in th~ State aforesaid an~ in the County aforesaid to take acknowledgments, personally appeared n to me known to be the persan described in and who ex- ecuted the foregoing instrument and the~; a~knowledged before me that the executed the same. `NITNESS by hand and official seal in the County and State last aforeeaid this ~ g~ day of t~~-«~~ ,1g {SEAL) ~ ~ Th;s instrument was prepared by: . yl~~,(~~~r~~~t~~/~ ~-Z t,~-- z b ;fabel Quattlebaum ~ = NOTARY PUSLlG _ 5un an reasu My Commission Expires: t - ~ No documentary stamp tau is due and payable hereon since the Agreement ~CRM M4-6033 OQ0 4 REV 8g Secured hereby is not a promise to pay a sum certain. Rule 12-4.52(6) F.G.A. p: 75 20~48 NCT~?KY P!!9tiC STATE ~~10~;i.A ii ~ CjM?:jt;:UN ESP ,;UYf 15.i99P ..Uv~ ~ , ii ~ 8~~~~ ~i~l 7~~1[F(~i i~0 ~~e . c.,t3:r ti.___.ti v>_ ___w W. ...-_R~~