Fill and Sign the Florida Second Form

Junior or Second Mortgage Deed THIS IS A BALLOON MORTGAGE AND THE FINAL PRINCIPAL PAYMENT OR THE PRINCIPAL BALANCE DUE UPON MATURITY IS $ ______________, TOGETHER WITH ACCRUED INTEREST, IF ANY, AND ALL ADVANCEMENTS MADE BY THE MORTGAGEE UNDER THE TERMS OF THIS MORTGAGE. This Indenture is made this _____ day of _______________, 20____ between ___________________________ (Name of Mortgagor), ______________________________ _____________________________________ (street address, city, county, state, zip code) , referred to herein as Mortgagor and ___________________________ (Name of Mortgagee), referred to herein as Mortgagee. WITNESSETH , that the said Mortgagor, for good and valuable consideration, the receipt whereof is hereby acknowledged, does hereby grant, bargain and sell to the said Mortgagee, its successors and assigns forever, the following described land, situate, lying and being in the County of _________ , State of Florida, to-wit: SEE ATTACHED EXHIBIT A FOR A COMPLETE LEGAL DESCRIPTION and the rents, issues and profits thereof, and the said Mortgagor does hereby fully warrant the title to said land, and will defend the same against the lawful claims of all persons whomsoever. PROVIDED ALWAYS, that if said Mortgagor, his heirs, legal representatives or assigns, shall pay to the said Mortgagee , its legal representatives or assigns, pursuant to a certain Loan Agreement dated ________________________in the amount of $________________, together with interest as provided in the Loan Agreement, and shall perform and comply with each and every stipulation, agreement and covenant of said Loan Agreement and of this Mortgage, then this Mortgage and the estate hereby created shall be void. Mortgagor covenants to pay the interest and principal promptly when due; to pay the taxes and assessments on said property and to keep the building on said land in proper repair. Mortgagor will keep the improvements now existing or hereinafter erected on the premises insured against loss or damage by fire and other hazards and perils included within the scope of a standard extended coverage endorsement, and such other hazards as Mortgagee may require, in such amounts and for such periods as Mortgagee may require, and in an insurance company or insurance companies acceptable to Mortgagee. All insurance policies and renewals shall designate Mortgagee as mortgage loss payee and shall be in a form acceptable to Mortgagee . Mortgagor hereby confers full power on Mortgagee to settle and compromise all loss claims on all such policies; to demand, receive, and receipt for all proceeds becoming payable thereunder; and, at Mortgagee's option, to apply same toward either the restoration or repair of the premises or the payment of the note. Any application of such proceeds toward payment of the note shall not extend or postpone the due date of monthly installments due under the note. Mortgagor further covenants not to sell, further encumber or transfer title to the property encumbered by this Mortgage without Mortgagee's prior written approval. If Mortgagor fails to perform the covenants and agreements contained in this Mortgage, including, without limitation, covenants to pay taxes, procure insurance, and protect against prior liens. Mortgagee may at its option, but shall not be required to, disburse such sums and take such actions necessary to pay such taxes, procure such insurance, or otherwise to protect Mortgagee's interest. Any amount disbursed by Mortgagee hereunder shall be an additional obligation of Mortgagor secured by this Mortgage. Unless Mortgagor and Mortgagee agree otherwise, all such amounts shall be payable immediately by Mortgagor upon notice from Mortgagee to Mortgagor , and may bear interest from the date of disbursement by Mortgagee at the lesser of the rate stated in the note or the highest rate permissible by applicable law. Nothing contained in this paragraph shall require Mortgagee to incur any expense or take any action whatsoever. Unless prohibited under state law, as additional security, Mortgagor hereby gives to and confers upon Mortgagee the right, power, and authority, during the continuance of this mortgage agreement, to collect the rents, issues, and profits of said property, reserving unto Mortgagor the right, prior to any default by Mortgagor in payment of any indebtedness secured hereby or in performance of any agreement hereunder, to collect and retain such rents, issues and profits as they become due and payable. Upon any such default, Mortgagee, upon giving written notification to the Mortgagor or his successors, etc., may either in person, by agent, or by a receiver to be appointed by a court, and without regard to the adequacy of any security for the indebtedness hereby secured, enter upon and take possession of said property or any part thereof, in his own name, sue for or otherwise collect such rents, issues and profits, including those past due and unpaid, and apply the same, less allowable expenses of collection of such rents, issues and profits, and the application thereof aforesaid, shall not cure or waive any default or notice of default hereunder or invalidate any act done pursuant to such notice. Should Mortgagor sell, convey, transfer or dispose of said property, or any part thereof, or any interest therein, or agree to do so without the written consent of Mortgagee being first obtained, then Mortgagee shall have the right, at its option, to declare all sums secured hereby immediately due and payable. Should any of the above covenants be broken, then said loan agreement and all moneys secured hereby shall, without demand, if the Mortgagee, its legal representatives or assigns, so elect, at once become due and payable and the mortgage be foreclosed, and all costs and expenses of collection of said moneys with or without suit, including a reasonable fee for the Mortgagee's attorney, shall be paid by the Mortgagor, and the same are hereby secured. Notwithstanding anything herein to the contrary, this Mortgage is second and subordinate to the lien of that certain Mortgage in favor of ______________________ (name of mortgagee) and recorded in Book ________at Page _______ of the land records of the County Clerk of Court of ___________________ (Name of County) County, Florida, and all provisions of this Mortgage shall be construed in accordance with the fact that this Mortgage is a second mortgage. In this contract, any reference to a party includes that party's heirs, executors, administrators, successors and assigns, singular includes plural and masculine includes feminine. THIS IS A BALLOON MORTGAGE AND THE FINAL PRINCIPAL PAYMENT OR THE PRINCIPAL BALANCE DUE UPON MATURITY IS $ __ , TOGET HER WITH ACCRUED INTEREST, IF ANY, AND ALL ADVANCEMENTS MADE BY THE MORTGAGEE UNDER THE TERMS OF THIS MORTGAGE. IN WITNESS WHEREOF, The said Mortgagor hereunto set his/her/their hand and seal the day and year first above written. Signed, sealed and delivered in our presence: Witnesses:Mortgagor _____ __ Printed or Typed Name and Signature STATE OF FLORIDA COUNTY OF _______ _____ The foregoing instrument was acknowledged before me this the ____ day of ______________, 20____ by _________________________________ (Name of Mortgagor), who is personally known to me or has produced (state form of identification such as driver’s license) __________________________________ as identification and who did or did not take an oath. , Notary Signature , Notary Name (typed, printed or stamped) Seal My Commission Expires: ______________________