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TI~IS IND~:NTURE,
TH I S MORT~ACE, made thi s 24TH day c~f JANUARY n_~
i~i , be~t.wc~c~n ~''~i ri. ~nEARER, A S1NGL~ AllULT -
( Mc~rt gagor 1=ind 42T VE:RS [ DF: ivATIOivAt. BANK OF FLOR 11)A t Martgagee
WITNESSETti, that Mortgagor, for and in consideration of
t.he premises and in order to secure the payment of the principal
.~nd interest on t.he Contract (as her.r_inafter defined), Mortgagor
hcreby gr.int.s, assigns transfers and mortgages to Mortgaqee, its
su~~~e~surs ~nd .;ssigns forev~r, the following dc~scrihe~ ~~L~
prop~rt_y in ST. LUCIE County, Florida Y_o wit:
LOT 5, BLOCK 148, LAKEWOOD PARK UNIT ELEVEN, ACCORDING TO THE PLAT
THEREOF AS RECORDED Ih PLAT BOOK 11, PAGES 32A THROUGH 32D, OF THE
PUBLIC RECORDS QF ST. LUCIE COLNTY, FLORIDA.
THIS MORTGAGE IS SUBORAINATE TO THAT CERTAIN MORTGAGE IN ~'AVOR OF
FIRST CITIZENS FEDERAL SAVINGS AI~'D LOAN ASSOCIATION FILE~ OF RECORD
DECEMBER 28, 1989 IN O.R. BOOK 669, PAGE 2931, ~F THE PUBLIC RECORDS
OF ST. LUCIE COUNTY, FLORIDA.
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(hereinafter referred to as the Mortgaged Property); and the
Mortgagor does hereby fully warrant the title to the Mortgaged
Property and will defend the same against the lawful claims ~f
all persons whomsoever.
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k PROVIDED ALWAYS, that if M~Y A. SHEARER, A SINGLE ADULT
i , the maker of that
` certain contract dated the date hereof (the Contract) HER
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heirs, legal representatives ar assigns shall pay to Mortgagee the
~ principal sum of $ 5,363.62 as evidenced by the Contract, with
; interest and upon the terms as provided therein, the final
~ maturity date of the Contract and of this Mortgage being FEBRUARY
IOTt~ 19 95, which Contract provides that all installments of
5 principal and interest are payable at the office of Mortgagee,-or
~ at suc-h other place as the holder may d~signate in writing, and
' that each maker and endorser agree to pay all costs of collection,
~ including a reasonable attorney`s fee, upon default in the payment
~ of the Contract, and that if default be made in th~ payment of
~ any installment hereunder and that if surh default is noY_ made
~ good in accordance with the terms of the Contract, that the entire
~ principal sum and accrued, earned int,eresY_ shall ber_ome due and
payable without notice at the option of the holder thereof; and
~ shall perform and comply with each and every stipulation,
agreement~and covenant of the Contract and of this Mortgage, then
~ this mortgage and the estate hereby created shall be void,
~ otherwise the same shall remain in full force. Maker covenants to
~ pay the interest_ and principal prompt]y when due. Mortgagor
covenanta to pay the taxes and assessments on said property; to
keep the improvements now existing or hereafter erected on the
property insured against loss by fire, hazards included withi_n
t_he term "~xtended coverage", .3nd such other hazards as Martg~~gee
' may require and in such amounts and for such periods as Mortgagee
_ may require, wiLh a company app mved by the Mortgagee, with
standard mortgagc loss clause payable to Mortgagee, the policy to
bc~ hc~lcj by the Mart_g~gee; and t.o kerp the building on ~aid l~nd in
~ ~ropc r re~,a i r .
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