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HomeMy WebLinkAbout2880 ~..i~aw~ • hn -,c~,G,,~. ls'7346 . ~ J ~ ~ ~ ~ , ~ 1 ~'~222 R[AL [iTATt MORTOAOt S~. w„~~ ~s ~coKrawaa. ~~uka u~s 17th May ~ . ia68 . br E~ARMAN OIL CO., INC., a FloridFi corporation with office at 958 - 70th Place, Vero Beach, Florida ~ tieretnatter called ~ort~a~or , to THE ATLA.NTIC NATIONAL BANK OF JACKSONVILLE, a national banking association having its principal place of business in Jacksonville, Florida hereiaafter called Mort~ee . WTPN8SSE3• Ttut in coasideration oi the aggre~ate aum named in the promiss~r~ note hereinaiter de- scribed. and othcr valuable considerations, the Mortgsg~or dces herebyg~n t, baraain. sev, aliea. remiae, release, conv~ey and con~irin unto the Mort~aaee in fe~ ~le. the land, of which the Mortgaaor ia , now seized aad ~ and in utwl poa~ioa m S t. LuC ~.e Countq. State oi Flonda, deacrlbed as c~ :lows. to-wit: From the SW corner of the SE 1/4 of Section 27, Township 35 South, Range 40 East; run South 89° 38' 30" East along the South line of said Sectioa ~27 a distance of 78.08' to the East right-of-way of U. S. Highway No. 1; thence, run North 2° 08' 30" West along the said right-of-way a distance ~o~of 300.28' to the Point of_Beginning; thence, continue North 2° 08' 30" ~amWest a distance of 300.06' along th& East right-of-way of present ~iT S. ~QOHighway No. 1; thence run South 89 38' 30" Et~~t a distance of 502r:43'; ~ Q> thence run Sc~:th 2° ~34' S0" West a distance of 240.06'; thence, run 3 ~~:North ~9° 38' 30" West a distance of 240.00'; thence, run South 2° 34' S0" .~=~West a distance of 60.00'; thence, run North 89° 38'.~0" West a distance ~ ~ 8~ of 237 . 60' to the Point of Be innin ; ~ ~ ' ~ N AND ALSO, Q~~, ~ ~Z ~ oN that part of the South 275.00' of the SW 1/4 of the SE 1/4 of Section 27,~ ~ Township 35 South, Range 40 East lying East of U. S. Highway No. 1, less however, the North 25.00' and the East 15.00' for right-of-way. The above property lying in St. Lucie County, Florida. This mortgage is granted to secure future advances from the mortgagee to the mortgagor. The unpaid principal balance of the indebtedness or in- debtednesses hereby secured, exclusive of disbursements made by the mor ~ee for taxes, levies, assessments and insurance, and exclusive of accrued interest, shall never at any one time exceed the sum of $200,000.00. Subject to an existing mortgage encumbering that part of the South 275 fee j of the Southwest Quarter of the Southeast ~rter of Section ~7, Township ~ 35 South, Range 40 East, lying East of U. . Highway No. 1, wherein David Cohen and Anne Cohen, his wife, are mortgagors, and 1'helma M. Folsom is ~ mortgagee, bearing date of December 27, 1962, recorded in Official Record Book 53, page 75, of the current public records of St. Lucie County, Florida. ~ Any default under said existing mortgage or the obligation thereby secured ~ shall, at the option of the holder of this mortgage, constitute and be a default under this mortgage and the obligation hereby secured. In event of default under said existing mortgage, the mcrtgagee under this mortgage re- serves the right to make such future advances as are necessary to cure such default or to pay said existing mortgage in full, and all such advances shall relate back to and be secured by the lien and operation of this mortgage deed to the same extent as if made contemporaneously with this mortgage deed and to be secured bq this mortgage deed. ~ ~ " to~ether with all the buildinga and other atruMures now or hereafter upon said land. ~ TO HAVS AND TO HOLD the same. with the tenements, hereditaments and appurtenances thereuato belongin~, i ~ includin~ apY and all easementa and riparian righta. and the renta, issues and pmiita oi said mortB88~ P~pei'tY. and the proceeda oi any or all the mortga~ed property which may be taken by eaunent domain. unto the Mortga ~ ~ee. ~ AND THS MORTGAGOA covenaats with the Mortpgee that the Mortgagor is indefeasibly seized of aaid laad in tee aimple; that the Mort~or has full power sad lawiul right to convey said land in fee aimple as afore- aaid; that it shall be lawiul for the ldort~ee at all t~es hereaiter peaceably and quietly to enter upon, hold, ` ooeup~ and e~oy sdd liwd; tbat said Lnd and every part thereoi is iree from aU liens and encumbrances; that tbe Mortsa~or ~vill make such ottser and turther assurances to pertect the fee sunple title to said land in the ~t as tnay hereaiter reasonably be , required • and that the Mort~or does hereby fully warrant the title ~ W u~d Lnd and will deiend the same a~au~st tbe ~awiul cLims oi all ns whaansoever - and James W. Coffeq, Joe ~Earman an~ Joe Henrq Earman P~iOVIDED, ALwwYB. t6at ii the Mort~o~ shall pay ~mto the ldort~a~ee the promis~ory note hereinafter ro ~ described. aad all interest therea~. as and ~vhsn therein pr~ovded, aad sha71-periorm. Y~~ ~~~and eveqr oovenant, condition aad stipnlation oi said promirory note and of this mort~a~e. this mo ttie estate hr~by created sball cease and be void. Tbe folloain~ is a substantial copy oi said promiseory note: r• A- .~~p~,~yp~ MCC/~RTHY. ADAMS S FOOTE d00K1 ~1 PACE2~V2j At ~ ~ r ~Of ATLANTIC NATIOMAL OANK ~YIlDIN6 ~ ~00~i ~1 PAGE~~ « 1ACKfONY1LLt t. F10111DA - ~ - • ; ~~~~-s. ~~a.<,: . _ ;~~~~a?i~'~.&x`~3 ~~~v?~_~r~~~yu~ _ . _ . .