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MORTGAGE
THIS MORTGAGE is executed , 1.9~~, by
RICHARD E. HUNT and JOYCE B. HUN , s w e, of 234 Universit
Drive, Lebanon, Tennessee , erea ter calle the Mortgagor,
which term s all inc u e sinqu ar or plural, corporation or indivi-
dual, any gender, and the heirs, legal representatives, successors
and assigns of the Mortgagor, all as appropriate and as may be
required by the context, to SUN HANK OF FORT PZERCE, a Florida
Bankinq Corporation, 7fl0 Virqinia Drive, Fort Pierce, Florida
33450; the Mortgagee, which term shall include the successors
and assigns of the Mortgagee.
V:ITNESSETH: Whereas the riortgagor is justly indebted to
the Mortgagee in the principal sum of $1,900,000.00 , which
indebtedness is hereby acknowledged, an w ic in e te3ness is
evidenced by a certain promissory note or notes payable to biort-
gagee, of even date herewith, which become due and payable both _
as to principal and as to interest not later than February l, 2000;
NOW, THEREFORE, Mortgagor, in consideration of the loan
of the principal sum and such other sums as may from time to
time be advanced hereunder, at the discretion of the Mortgagee,
and for the purpose of securing alI sums due the Mortgage~, does
hereby mortgage to the Mortgagee in fee simple, all of the following
describea real property situated in St. Lucie County, Florida,
more particularly described as follows:
~ From the Nt~ Corner of the NE 1/4 of Section 27, Township
- 35 South, Range 40 EAst, run west along the north line of
Section 27, 152 feet to the easterly right-of-way of U. S.
x s° Highway 1, thence run south along said right-of-way a distance
z Q J<° of 1, 222 feet to the point of beginning, thence run east
_ T;~Q parallel to the north line of Section 27 a distance of ~
~ o< 800 feet, thence south parallel to the easterly right-of-wa~
_ Z g of U.S. Highway 1 a distance of 300 feet, thence west para-
T Z% llel to the north line of Section 27 a distance of 804 feet
=~~a _ D to the easterly right-of-way of U.S. Highway 1, thence
north along said right-of-way 300 feet to the point of
= beginning.
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~ together with all and singular the tenements, hereditaments,
appurtenances, easements, riparian and other rights appurtenant
to the property, and any and aII structures and improvements
now or hereafter on the property and the fixtures attached thereto;
a21 rents, issues and profits accrued from the property; all
gas, steam, electric, water, heating, air conditioning, cooking,
refrigerating, lighting, plumbing, ventilating, irrigating, power
systems, machines and appliances attached to the property, whether
or not same may be considered fixtures; all shrubbery, plants
and trees now= growing or hereafter planted or grown on the property;
all building permits, development rights, permits to connect
to and to utilize utilities, rights under construction contracts,
~ rights under leases and other contract rights used or useful
w`: in the enjoyment of the property. The MOrtgage also encumbers all
~ personal property of the Mortgagar used or useful in the improvement
~ or operatior. of the Ramada Inn Motel to be constructed and operated
r~ ~ upon t he described property by Mortgagor, whether now owned, or
hereafter acquired, including, especially, but not by way o€
i~ limitation all construction drawings, plans, specifications, job
, drawings, construction data and infbzmation, contract rights with
= subcontractors and r,ateria2men, construction materials, whether
purchased and stored on the property or elsewhere, furniture,
~a`- furnishings, office equipment, resta~rant equipment, machines and
~ machinery, inventories, supplies, rights under contracts for
~ warranty and maintenance, accoun*_s receivable and cash.
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~d. ~ (State of Florida Docusne~;tary Star.~ps in the amount of
52,850.00 have been affixed to the original Promissory
Note and cancelled.)
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