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HomeMy WebLinkAbout0198 , _ • . o~ ~,?xw ~ ~~«~~;"°""n 1444'72 ~ ~uvEO f ss.~. ~Nt~~w~etc ~ ~ f Ot1E~ N~pC11AP~Eft2012~•~..1E .v r. 2, c~?* Mortgage Form ~1 G~r11~ M. a ^ tox Gd~~ SPSLCC ~1 Go~y 11/22/65 Revised ~ MORTGAGE DEED THIS MORTGAGF D~ED. Executed the 21s; day of ~b , 19 , by CN~fl1r0'1'i'E 2. V8I'PS~ a~t muasrti~d rorn , party of the first part, hereinafter called Mortgagor, to GENERAL DEVELOP- ~ \rIE\IT CORPORATION, a Delaware corporation. par~?of the second part, here- ~ inafter called ;Viortgagee. WITNESSETH: That for divers good and valuable considerations. and also in considef~a- tion of the aggregate sum named in the promissory note of even date herewith, hereinafter described, the said Mortgagor does grant, bargain, sell, alien, remise, retease, convey and confirm unto the said Mortgagee, ite euccessora and assign8, in fee simple, all that cer~ain tract of land of whi~h the said Mortgagor is now . seized and possessed, and in actuat possession, aituate in St. Lucie County, State of Florida, described as follows; Lot 2, Bloat 16, SOUlB POHT 3!. I,IICIE, D1IT 3, ~~a~~33g ta th~ P3at t~taraat se raoorQ~! Plat Boolc 12, ~t Yags 4 0! th~ Pnblia 8ecord~ ot ~ 3t. 1.uai~ ComcttT, Florida. , THIS IS A 1'URCHASE MONEY FIRST MORTGAGE. PROVIDED, there ~s no default in the terms of this mortgage, the mort- gagee herein agrees to subordinate said mortgage to the lien of a construction mortgage in favor of any bank or institutional lender authorized to transact busi- ness in the State of Florida; the funds of which construction mortgage shall be used for the purpose of constructing improvements on the aubject premises. It is an express condition of this mortgage that, notwithstanding the date upon which the subordination of mortgage referred to above is executed by the lliortgagee or recorded among the Pubiic Records of St. Lucie County, Florida, ' said subordination shall be conditioned upon the fact that it ie intended solely to ' sui~orclinate the interest of the Mortgagee herein only to the lien of the institutional - construction mortgage referred to above and to no other lien or interests what- °:~,y' soever. TO HAVE AND TO HOLD the same together with the tenements, heredi- taments, and appurtenances, unto the said Mortgagee, and its successors and assigns, in fee simple. ; Al\TD said Mortgagor for h~r~~lt and hir heirs and assigns, doth covenant with said Mortgagee, its successors, legal representatives and assigns, that said Mortgagor is indefeasibly seized of said land in fee simple; ~ that the said Mortgagor has fuli power and lawful right to convey said land in fee f sixnple as aforesaid; that it shall be lawful for said Mortgagee, it. successors, • ~ legal representatives and assigns, at all times pe~ceably and quietly to enter upon, ~ ~ ; hold, occupy and enjoy said Iand; that said tand is free from all encumbrances; ~ that said Mortgagor, heirs and assigns, wYlt make such further assur- ~ ances to perfect the fee simple title to said land in safd Mortgagee, its succesgors, ~ legal representatives and assigns, as may reasonably be required; and that said Mortgagor does hereby fully warrant the title to eaid tand and will detend the same against the lawful claims of all persons whomaoever. PROVIDED ALWAYS, that if esid Mortgagor, b~r heirs and aesigns shali pay unto the said Mortgagee, ite successors, Iegat repreeentativee or eoox ~.43 ~97 ~ ~ : . . ,x~~~ ~.s : - - - _ . .