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This Inst?ument was prepared by;
MC~RTGAGE DEED "°'"^R° a. SCHARLIN
975 WEST 49th STREET
HIALEJIH. FLORlDA 33012
THIS IS A PURCHASE MONEY MORTGAGE
THIS MORTGAGE DEED, executed and delivered on October 10 196c72
by
Indian Summer Groves, Inc., a Florida corporation,
(hereinafter called " Mortgagor , to
Lyon Citrus Groves, Inc., a Florida corporation,
(hereinafter called "Mortgagee"), which terms Mortgagor and Mortgaqee shall
include all natural and artificial persons described as Mortgagor and Mortgagee,
and shall be deemed to extend to, bind and benefit their respective heirs, executors,
administrators ,;;uccessors , iegal representatives and assigns;
WITN~SSETH:
For divers good and valuable considerations including the aggregate sum
named in the promissory note (hereinafter called the "Note") , a substantial copy or
full desc:iotion of which is annexed hereto, the Mortgagor does hereby grant, bargain,
sell, aliea, remise, release, convey and confirm unto the Mortgagee alI that certain
real property which the Mortgagor now owns , situate in Florida and described more
particularly ~n the schedule annexed hereto, and all structures and improvements now
and hereafter located thereon, the rents , issues and profits thereof, al! furniture,
furnishings, fixtures and equipment naw located thereon, and all additions thereto
and replacements' thereof (which real property, improvements and personalty are here-
inafter coll~ctively called the "Property") ,
TO HAVE AND TO HOLD the same, together ~vith the tenzments, hereditaments
and appurtenances, unto the Mortgagee in fee simple.
And the Mortgagor hereby covenants with the h9ortgagee that the Mortgagor is
indefeasibly seized of the Property in fee simple (or such lesser estate as may herein-
aite: be identified); that the Mortgagor has full po~vAr and lawful right to convey the
Property in fee simple as afore.said; that it shall be lawful for the Mortgagee at all
~iT,~s peaceably and quietly to enter upon, hold, occupy and enjoy the Property; that
~r Property is free from all encumbrances except as may herein be noted; that the
i~~ortgagor will make such further assuraac~s to p~rfect the fee si?nple title to the
°rop~rty in the Mortgagee as may reasonably be required; and that the Mortgagor does
h~reby fully warrant the title to the Property and cvill defend thQ samz against the
lawful claims of all persons ~vhomsoever.
PROVIDED ALWAYS, that if the I~lortgago: shall make all of the payments set
forth in the Note and shall promptly perform, comply with and abide by each and every
stipulation, agreement, condition and covenant of the Not~ and of this mortgage, then
t5is mortgage and the estate hereby created shall cease and be null and void.
And the Mortgagor does hereby covenant and agree ~vith the Mor[gagee as
foliows:
1. Payment of the Note: The Mortgagor shall pay all and singular the principal
and inierest and other sums of money payable by virtue of the Note and this mortgaqe,
or either, promptly on the days, respectively, the same severally becorne due.
2. Compliance with terms of Note and mortqaqe: The Mo:tgagor shall perform,
comply with and abide by each and every stipulation, agreement, condition and cove-
nant set forth in the Note and in this mortgage.
3. Payment of taxes, ass~ssments, etc.: The Mortgagor shall pay all and
singular the taxes, assessments, levies, liabilities, obligations, and encumbrances
e: ~ry nature on the Property, whether prior or subordinate in lien, dignity and effect
tiie lien of this mor[gage, each in accordance with its respec±ive terms, conditions
and requirements, and if the same be not promptly paid the Mortgagee may at any time,
before or after delinquencies , pay the same wi±hout waiving or affecting the option to
i foreclose or any right hereunder, and every payment so made shall bear interest from
the date thereof at the rate of ten psr cent per annum.
4. Maintenance of insurance and application of proceeds: The Mortgagor shall '
keep the buildings no~N or hereaf[er constituting a portion of ihe Property insured by
BflDK 2O7 PNGE
KA7CHER ANO S~HaRLIN. ATTORNEYS AT IAW, i1R5T ~:ATIONAL BANK BUILDtNG. HIALEAH, FLORIDA 330t2
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