HomeMy WebLinkAbout2182 ~3. Thr luan represented by this Mortgage and the Nute ~s personal to the Mongagor and the Mortgagee ma~fe
~he loan to the Mortgagor based upon the credit of the Mungagor and the Mortgagee's ~udgement of the ab~liry of the
Mortgagor to repay all sums due under this Mortgage, and therefore this Murtgage may not be assumed by any sub~e-
quent holder of an interest in the Mongaged Property. If all or any part of the Mortgaged Properiy, o~ any interest there-
in, is soid, conveyed, transferred ( including a transfer by agreernznt fo~ deed or land contrarU or further encumbered by
Mortgagor without Murtgagee's prior wntten consent excluding the grant of any leasehold interest in the Mortgaged
Property nat containing an option to purchase, which lease is made in the ordinary course of Mortgagor's business, then
in that event Mongagee may declare all sums secured by this Mortgage immediately due and payable.
24. ;~longag~~r represents and warrants that if a corpuration, i~ is duly organized and validly existing, in goexi
standing under the laws of the state of its incorparation, has stock outstanding which has been duly and validly issued,
and is qualified to do business and is ~n good standing in the State of Florida, with full power and authoriry to consum-
m~te the toan comtemplaled hereby; and, if a partnership, it is duly fortned and validly existing, and is fully qualified to '
do business in the State of ~lorida; with fult power and authority to consummate the loan contemplated hereby.
25. In the event any one or more of the orovisians contained in Ihis Mortvaoe c,r t~e No!s sh2!! f~r ~nY re?-
~on be held to be invalid, +Ilegal or unen(orceable in any respect, such invalidity, illegality or unenforceability shall, at
the option of the Mongagee, not affect any other provisions of this Mortgage, but this Mortgage shal! be construed as if
surh invalid, illegal or unenfurceable provision had never been contairied herein or therein. T'he total interest payable
pursuant to the Note or this Mortgage shall not in any one year exceed the highest lawful rate of interest pecmitted in the
State of Fiorida.
26. The covenants and agreements herein contained shall bind and the benefits and advantages shall inure to
the respective heirs, executors, administrators, successors, and assig~s of the parties heret~. Wherever used, the singu-
lar number shall include the plural, the plural the singular, and the use of any gender shall be applicable to all genders. All
covenants, agreerrr~nts and undertakings shall be jant and several. ln the event additional numbered covenants or paragraphs
are for convenience inserted in this Mortgage, such additional oovenants shall be read and given effect as though following this
covtnant in rnnsecutive order.
IN WITNESS WHEREOF, Mortgagor has duly executed this Mortgage as of the date first above written.
THIS IS A BALLOON MORTGAGE AND THE FINAL PRINCIPAL PAYMENT OR THE PRINCIPAL BALANCE
DUE UPON MATURITY IS ~ 89,391.b5 TOGETHER WITH ACCRUED INTEREST, IF ANY, AND
ALL ADVANCE.~IENTS MADE BY THE MORTGAr,EE UNDER THE TERMS OF THIS MORTGAGE.
f PREPARED BY: P. WHITE, SUN BAIVK/TREASURE COAST NA, P 0 BOX 8, FT. PIERCE, FLORIDA
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i DIAMOND R. HORNE
I ATTEST: . BY
! Secretary
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; As its
! '90 FE8 -1 A 8 :07
~ (CORPORATE SEAL)
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; S~ATE OF FLORIDA "?~I,'':~ : . 'l: X.~'i. ~ ~
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~ r~UI~tTY (~F ST. LUCIE )
'i 25 JANUARY 90
' T?~ foregaing inst~ment was acknowledged before me this day of , 19 , by
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~ ~ " ~~~i~~''••,-'i~_•;.'R-`-: HERBERT B. HORNE, JR. AND DIAMOND R. HORNE
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c My commission expires: w~;-~~ r F~~a~ ~T~7~ r_,F <<~o;,e
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STATE OF~.fLOR1DA~ ) ` r ~
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COUIvTY OF )
The foregoing instrument was acknowledged before me this day of ,
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~ on behalf of the corporation. •
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INOTARIAL SEAL? Mycammissionexpires: ~
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