Franklin County Mortgage with Assignment of Rents and Promissory Note Forms (Florida)

Form Package

Mortgage with Assignment of Rents and Promissory Note

State

Florida

Area

Franklin County

Price

$27.97

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Included Forms

All Franklin County specific forms and documents listed below are included in your immediate download package:

Included Supplemental Documents

The following Florida and Franklin County supplemental forms are included as a courtesy with your order.

Frequently Asked Questions:

Areas Covered by These Mortgage with Assignment of Rents and Promissory Note Forms:

• Franklin County

Including:

• Apalachicola
• Carrabelle
• Eastpoint
• Lanark Village

What is the Florida Mortgage with Assignment of Rents and Promissory Note

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.

Our Promise

The documents you receive here will meet, or exceed, the Franklin County recording requirements for formatting. If there's an issue caused by our formatting, we'll make it right and refund your payment.

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