HomeMy WebLinkAbout1478 . sT-3933
l~iortgage Form
SPSLCC Nl ~
11/22/65 Reviaed
MORTGAGE DEED -146SwI
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THIS MORTGAGE DEED. Executed the 9th day of June ,
18~_, by ~
pactq of the first part, herefnafter called Mortgagor, to GE RAL DEVELOP-
MENT CORFORATIOI~, a Delaware corporation, par~?of the second part, here-
~ inafter called Mortgagee.
WITNESSETH:
That for divers good and valuable considerations, and also in considera-
tion of the aggregate sum named in the promissory note of even date herewith,
hereinafter described, the said Mortgagor doea grant, bargain, sell, alien, remise,
reiease, convey and confirm unto the said Mortgagee, ite succeesors and assigns,
in fee eimple, all that certain tract of land of which the said Mortgagor is now
eeized and posseeaed, and in actual posaeseion, situate in St. Lucie County, State
of Florida, deacribed ae follov?e: - ~
Lot 21 and the ~orth 56 feet of Lot 22, Block 10, of
BSPI.AT OF A PORTION OF SOIITH P08T S'!'. IACIS~ Dl~IT 2,
according to the Plat thersof ae reaorded in Plat
~~k ~2, a~ ~6e 45 of the Ptiblic 8ecords of St. Lucie
CountJ, Florida. ~ ~
THIS IS A PURCHASE MONEY FIRST MORTGAGE. -
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PROVIDED, there is no default in the terins 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 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 t
Mortgagee or recorded among the Public Records of St. Lucie County, Florida,
said subordination shall be conditioned upon the fact that it is intended solelq to
subordinate 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-
soever. ~
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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. ?
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AND said Mortgagor for*heaselves and ~eir heirs and assigns, s
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 full power and lawful right to convey said land in fee '
simple as aforesaid; that it shall be lawful for said Mortgagee, it successors, ~
' legai representatives and assigns, at all times peaceably and quietly to enter upon, ~
~ hold, occupy and enjoy said land; that said land is free from all encumbrnnces; ~
that said Mortgagor, ~1efr heirs and assigns, will make such further assur-
ances to perfect the fee simple title to said land in said Mortgagee, its successors, ,
legal representativee and assigns, as may reasonably be required; and that said
Mortgagor does hereby fully warrant the title to said land and will defend the same
againat the lawful claims of all persons whomsoever.
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PROVIDED ALWAYS, that if said Mortgagor, their heire and assigns ~
ahall p~y unto the eaid Mortgagee, its aucceasore, legal repreaentatives or ~
BO
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q~eCElYED ~ 111 rAT*EwTOl~TAxis
OUE ON CLASS'C' INTA!IG18L[ rERSOMAL I~OrE~.
Pl1RSUANT TO CM,IIPtER 20721, Af.7S of tl11.
RC~G ? a'~: U-?k Cka,;: Co~ret
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St. Lrci~ CAUtM)? Tax q~tlor
ti ~ ~ aooK 150 2 ~7
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