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HomeMy WebLinkAbout1632 1YVJ ~ v ~ , : R ss-3949 ldlortgage For:n SPSLCC /1 11/22/65 Revised MORTGAGE DEED THIS MORTGAGE DEED. Executed the day of June • 19 66 , by ~pggpg ~QCCA80 and GgBALDIPB B. CIICCARO, his vif~ • ~ party of the first part, hereinafter calied Mortgagor. to GENERAL DEVELOP- MENT CORPORATION, a Delaware corporation, par~rof the aecond part, here- • inafter cailed 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 deacribed, the said Mortgagor doea grant, bargain, sell, alien, remise, release, convey and confirm unto the eaid Mortgagee, ite succesaora and assigna, in fee simple, all that certain tract of land of which the said Mortgagor is now 4 aeized and posseaeed, and in actuai posaeseion, situate in St. Lucie Countq, State Qf Fiorida, deecribed ae followe: ~ Lot 12, Bloot 33 of RIYBR PARK, IIBIT 4, according ~ to the Plat thereof as recorded in Plat Book 11, at Page 9, of the Pablic aecorde of St. Iuc3e County, Florida. THIS IS A PURCHASE MONEY FIRST MORTGAGE. PROVIDED, there is no default in the terms of this mortgage, the mort- gagee herein agrees to aubordinate said mortgage to the lien of a construction mortgage in favor of a~ry bank or institutional lender authorized to transact busi- ness in the State of Florida; the funds of which construction mortgage shall be uaed 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 Pubiic Records of St. Lucie County, Florida, said subordination shall be conditioned upon the fact that it is intended solely to subordinate the interest of the Mortgagee herein only to~the lien of the institutional t construction mortgage referred to above and to no other lien or interests what- ~ ~ soever. ~ TO HAVE AND TO IiOLD the same together with the tenements, heredi- taments, and appurtenances, unto the said Mortgagee, and its successors and ~ assigns, in fee simpie. AND said Mortgagor for themselves and ~eir heirs and assigns, doth covenant with said Mortgagee, its successors, tegal representatives and assigns, that said Mortgagor is indefeasibiy seized of said land in fee simple; that the said Mortgagor has fuli power and lawful right to convey said land in fee siunple as aforesaid; that it shall be lawful for said Mortgagee, it successors, legal 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 encumbrances; ; that said Mortgagor, their heirs and assigns, witY make such further assur- ~ ances to perfect the fee simple title to said land in said Mortgagee, its successora, ~ ~ legal repre8entatives and assigns, as rnay reasonably be required; and that said . s ~ Mortgagor does hereby fully warrant the title to said land and will defend the same against the lawful claims of all persons whomsoever. . PROVIDED ALWAYS, that if said Mortgagor, {~eir heira and asaigns ~ - shall pay unto the eaid Mortgagee, ite successora, legal representativea or ~0 - IN *A~M[wTOFTAx~f ' ~ ~~ANTC 7~'OCMA~TR m721. A~CT~lO? tf~1~~~~ G~fk ClfNit ~io11A ~ ~ bf CIJRTIS ~AMES a'~' - _ gooK ~.50 431 R ~ ~ ~ - .~µ.x. .~s::~ _ _ - - - - - ~K ~ ~ - . _ G