HomeMy WebLinkAbout0435 ~ - 14625~ o-r ~y79
lO~Iortgage Form
SPSLCC ~1
11/22/65 Revised
MORTGAGE DEED
THIS MORTGAGE DEED. Executed the lOth day of June ,
' 19~_, bY Jo~I H Yb0 ~ L. Jfl. ~
ps~rty oi the first pa.rt, hereinafter called Mortgagor, to GENERAL DEVELOP-
MENT CORPORATION, a Delaware corporation, par~?of the eecond part, here-
• inaiter called Mortgagee. ~
WITNESSETH: ~
That for divers good and valuable considerations, and also in conaidera-
tiun of the aggregate eum named in the promissory note of even date herewith,
hereinafter described, the eaid Mortgagor dces grant, bargain, selt, alien, remise,
release, conveq and confirm unto the said Mortgagee, ite euccessore and as~igne,
in fee eiaiple, ali that certain tract of land of which the said Mortgagor ie uow
sei~ed and posaeeeed, and in actual poseeesion, eituate in St. Lucie County, State
oi Florida, deecribed Qe foliov?e: ~
Lot l, Blook 1S, 30UR'~ PO8'P S~. IACI$, UIII? 3,
according to tLe P1at thereof se rscorded in piat
Book 12, at Page 4 of the Pnblic 8ecords of St.
Iucie Count~, Florida.
THIS IS A PURCHASE MONEY FIRST MORTGAGE.
PBOVIDED, there is 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 a~? bank or institutional lender authorized to transact busi-
nese in the State of Florida; the funds of which conatruction mortgage shall be
used for the purpose of constructing improvements on the subject 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
Mortgagee or recorded among the Pubtic Records of St. Lucie County, Florida,
said aubordination ehall be conditioned upon the fact that it is intended solely to
aubordinate the interest of the Mortgagee herein only to•the lien of the institutional
~ conetruction mortgage referred to above and to no other lien or interests what-
soever.
TO HAVE AND TO HOLD the same together with the tenements, heredi-
tamenta, and appurtenances, unto the• said Mortgagee, and its successors and
assigns, in fee sinaple. (
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AND said Mortgagor for ~self and ~8 heirs and assigns, ~
,
doth covenant with said Mortgagee, its succeseors, legal representatives and =
;
a"ssigns, that said Mortgagor is indefeasibly seized of said land in fee simple;
that the said Mortgagor has full power and lawful right to convey eaid land in fee :
simple as aforesaid; that it shall be lawfui for said Mortgagee, it successors, ~
legal representatives and asaigns,. at all timea peaceably and quietly to enter upon, ;
hold, occupy and enjay said land; that said land is free from all encumbrnnces;
that said Mortgagor, his heirs and assigns, witl make such further assur- 4
ances to perfect the fee simple title to said land in said Mortgagee, its successore, -
legal representatives and assigna, as maq reasonably be required; and that said .
Mortgagor does hereby fully warrant the title to said land and witl defend the same
againet the lawful claims of all peraons whomsoever. ~
PROVIDED ALWAYS, that if eaid Mortgagor, hia heire and assigns
shall ps~ unto the eaid Mortgagee, ite euccessore, legal representativee or
o~r
DU~~CLl1~,9'C' INTANaHL[ ?ERSONAEL ~ROrE1tTT~
PNR:UANT TO CM/1rTER t072I, ACTi Of 1lN. '
RO~a~'"R POiTRA$, Gelk Cl~wi} C„~ .
a/1p~n1 fo? CU~TIS M. JAME3 ~
SI? i~d~ Cwnfr Ta~c Caq~clor .
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~ a~Ki48 _ 434 .
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