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MORTGAGE DEED 975W
EST 49Sh STRE T ~
THIS IS A PURCHASE MONEY MORTGAGE H~~H' r~oRia? ~oi2
THIS MORTGAGE DEED, executed and delivered on October 10~ 19fx72
by
Indian Summ~r Groves, Inc., a Florida corporation,
(hereinafter called "Mortgagor") , to
Lyon Citrus Groves, Inc., a Florida corporation,
(hereinafter called "Mortgagee") , which terms Mortgagor and Mortgagee 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, successors, legal representatives and assigns;
WITNESSETH:
For divers good and valuable considerations including the aggregate sum
named in the promissory note (hereinafter called the "Note") , a substantial copy or
full dpsc:iption of which is annexed hereto, the Mortgagor does hereby grant, bargain,
sell, aliea, remise, release, convey and confirm unto the Mortgagee all that certain
real properiy which the Mortgagor now owns , situate in Florida and described more
particularly in the schedule annexed hereto, and all structures and improvements now
and hereafter located thereon, the rents, issues and profits thereof, all furniture,
furnishings, iixtures and equipmeni no~~, located tnereon, and all additions thereto ~
and replacerrients' thereof (which real prop~rty, improvements and pzrsonalty are here-
inafter collzctively callpd the "Property"),
TO HAVE AND TO HOLD the same, toget~er ~vith the tenements , hereoitaments
a nd appurtenances , unto tt?.? Mortgage~ in fee simple .
And the Mortgagor n~reby covenants vrith the Mortqagee that the Mortgagor is
indefea~ibly seized of th~ Property ir. fee simple (or such lesser estate as may herein-
after be identified); that iha *.lortgagor has full power and lawful right to convey the
Property in fe~ simple as aforesaid; that it shall be )awful for the A4ortgagee at all
:iir~~s p~aceably and quietly to ~nter upon, t~old, occupy and enjoy the Property; that
t- Prop~rty is free frorn al~ encurrzbrances except as may herein bz noted; that the
'~/iortgagor will make such furtner assurances to perfect the fee simple title to the
Property in the Mortgagee as may reasonably b~ required; and that the vlortgagor does
hereby fully w3rrant the title to the Property and will defend the same against the •
iawful claims of aIl p~rsons whomsoever,
PROVIDED AL~VAYS, that if the I~iortyaqor 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 mort~age, then
this mortgage and tne estate hereby created shall cease and be null and void.
And the Mortgagor does hereby covenant and agree with the Mortgagee as
follows:
1. Payment of the :~Tote: The Mortgagor shall pay all artd singular the principal
and interest and other sums of money payable by virtue of the Note and this mortgage,
or either, promptly on the c~ays, respectively, the same severally become due.
2. Compliance ~vith terms of Note and mortQaQe: The Mortgagor shall perform,
::omply with and abide by each and every stipulation, agreement, condition and cove-
nant set forth in the Note and in tnis mortgage .
3. Payment of taxes, assessments, etc.: The Mortgaqor shal! pay all and
sinqular the taxes , assessm~nts , levies , Iiabitities , obligations , and encumbrances
e~ ~ry nature on the Property, whether prior or subordinate in lien, dignity and effect
tt~e lien of this mortgaqe, each in accordance with its respective 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 without waiving or affecting the option to `
foreclose or any right nereunder, and every payment so made shall bear interest from
the date thereof at the rate of ten per cent per annum. ~
4. Maintenance of insuran~e and aaplication of proceeds: The Mortgagor shall
keep the buildings now or hereafter constituting a portion of the Property insured by
B~QK ~O~ PAGE ~lhJ
i KATCHER ANO SCNARUN. AT70R~lEYS AT LAW. FIRST NATIONAL DANK ~UILOING. NIAIEAH. FLORIOA 33012