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and privileges thereunto belonging or in any wise now or hereafter
appertaining unto and to the use of the Mortgagee, its successors
and assigns, forever.
AND THE MORTGAGORS NEREBY COVENANT with the Mortgagee that
the Mortgagors are indefeasibly seized of said land in fee
simple; that the Mortgagors have full power and lawful right
to convey the same as aforesaid; that the mortgaged premises
are free and clear of all liens and encumbrances except as herein
otherwise recited; that it shall be lawful for the Mortgagee at
all times peaceably and quietly to enter upon, hold, occupy and
enjoy said simple title to said land in said Mortgagee as may
reasonably be required; and the Mortgagors do hereby fully
warrant the title to said land, and every part thereof, and will
defend the same against the lawful claims and demands of all persons.
PROVIDED ALWAYS, That if the Mortgagors shall pay or cause
to be paid unto the Mortgagee, the indebtedness hereby secured,
evidenced by the certain promissory note in the principal ar.iount
of $2,140,000.00 of even date herewith made by the Mortgagor, ST. LUCIE
~ ENTERPRISES, INC., a Florida corporation, and payable to the order
of the Mortgagee at its office in Fort Pierce, Florida or at
such other place as the holder thereof may from time to time _ ;
designate, with interest thereon, all payable as provided in said }
note in lawful money of the United States of America, the final
payment on said note being due no later than August l, 1994, unless
, extended by agreement between the parties or as provided under the
~ terms of the Construction Loan Agreement or Promissory Note executed
o.concurrently herewith and shall duly, promptly and fully perform,
: discharge, execute, complete, comply with and abide by each
o and every the stipulations, covenants, agreements and conditions `
; in the said Promissory Note, this Mortgage, and the Construction 2
o Loan Agreement bet~een the parties, and any other documents _
~ securing the aforesaid note, then the estate hereby created
o shall cease and determine and this mortgage shall become of
: no further force and effect. ~
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Z AND THE MORTGAGOR,.ST. LUCIE ENTERPRISES, INC., HEREBY COVENANTS
! o AND AGREES WITH THE MORTGAGEE: ,
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~ 1. To pay all and singular the principal and interest and the 3
° various and sundry sums of money payable by virtue of said promissory
~ note and this mortgage, each and every promptly on the days respect-
; ively the same severally become due;
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2. To pay all and singular the taxes, assessments, levies,
I liabilities, obligations and encumbrances of every nature and kind
~ now on said described property, and/or that hereafter may be imposed,
~ suffered, placed, levied or assessed thereupon, and/or that hereafter '
i~ may be levied or assessed uponthis mortgage and/or the indebtedness ;
+ secured hereby, each and every, when due and payable according to law,
~ before they become delinquent, and before any interest attaches or any ;
1 penalty is incurred; and insofar as any thereof is of record the same
; shall be promptly satisfied and discharged of record and the original
i' official document (such as, for instance, the tax receipt or the
i satisfaction paper officially endorsed or~certified) shall be placed
~ in the hands of said Mortgagee within ten days next after payment.
~ 3. To keep the buildings and improvements now standing or ;
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~ hereafter erected upon the mortgaged premises and any and all ~
1 apparatus, fixtures and appurtenances now or hereafter in or attached ;
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