Alachua County Mortgage with Assignment of Rents and Promissory Note Form

Additional Florida and Alachua County documents included at no extra charge:

Where to Record Your Documents

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Cities and Jurisdictions in Alachua County

Properties in any of these areas use Alachua County forms:

• Alachua
• Archer
• Earleton
• Evinston
• Gainesville
• Hawthorne
• High Springs
• Island Grove
• La Crosse
• Lochloosa
• Micanopy
• Newberry
• Waldo

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Use this mortgage for financing rental property. The mortgagor/borrower assigns the Lender the right to collect rents. The Lender waives the right to collect rents to the mortgagor/borrower until the occurrence of an event of default under the Promissory Note or the Mortgage. Upon the occurrence of an event of default, upon five (5) days written notice from Lender, the right of Mortgagor/borrower to collect such rents and profits may be revoked by Lender. This mortgage and promissory note can be used for conventional financing or balloon payments. In Florida [every mortgage in which the final payment or the principal balance due and payable upon maturity is greater than twice the amount of the regular monthly or periodic payment of the mortgage shall be deemed a balloon mortgage; and, except as provided in subparagraph 2., there shall be printed or clearly stamped on such mortgage a legend in substantially the following form: 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.] [697.05(2)(a)1]. A mortgage and promissory note with strict default terms can be beneficial to a party financing a real property.

(Florida Mortgage Package includes forms, guidelines, and completed example) For use in Florida Only.

Important: Your property must be located in Alachua County to use these forms. Documents should be recorded at the office below.

This Mortgage with Assignment of Rents and Promissory Note meets all recording requirements specific to Alachua County.

Our Promise

The documents you receive here are guaranteed to meet or exceed the applicable Alachua County recording format requirements. If there is a rejection caused by our formatting, we will correct the issue or refund your payment. This guarantee applies to document formatting only and does not extend to information entered by the user, the selection of the form, or the legal effect of the completed document.

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