HomeMy WebLinkAbout2403 wcaw~owot ptt0 1` • ~
~ TO CW~OI~ATIOII I110M INOIVIDY~L 'V 1~AMG0 i'OI~M q[,0
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Fx~ut~cf Ihp ~ day oj , August A. D. 19 75 bY ~
DOUGLAS H. KERR and JOAN KERR, his wife,
tiereinaJfer culled fhe mortgopo~, to • '
SUN BANK OF ST. LUCIE COUNTY ~
a rnrporofion exuting under Ihe ~au» o~ fhe $tnfe o~ Florida wilh ifs permnnenf posfo Jice
ndd~:~ a~ 111 Orange Avenue (Post' Of f ice Box 8), Ft. Pierce, Flori~a
~ereinajtpr caUecl the ~nortgagee:
(WAcre~er uxd berei~ ~6e te~ "eor ~sd ••swtp~ee•• i~clude aN t6e parties a tlw imtrvmc~l a~d ~?e \ein.
k[+~ ~ePR+rnati~a and auy~m d i~dir~. ud ~le wcce+r.rs a~d aeiRU el capor~~ioas; a~d tAe u~
istludes all t6e wtes brni~ desuihed i( ~otr tiw o~e.)
~~t~~~~ lhat (or good and valuable considerations, ond alao in consideration o/ the agqre-
gate :um named in Ihe promissory nofe oj even date her+ewill~. I~ereinafter descri6ed, the mortgugor here-
6y 9~+,. 6ar+gaina, se~~s, a~iens. remi.ses. c+onveys and con~irnu unto t1~e mortgnges n~( t~e certuin ~a~d
o~ w~ic~ fhe morlgago~ is now aeized and in poueulon sifunte in St. LUCl@ Counfy,
Florida, viz:
As more particularly described in Schedule "A", which is attached
hereto and by reference made a part hereof.
TOGETHER with all and singular the tenements, hereditaments
and appurtenances thereto belonging or in anywise thereunto
appertaining and the rents, issues and profits thereof, and
also all the estate, riqht, title, interest and all claim
and demand whatsoever, as well in law as in equity, of
Mortgagor in and to the same, including but not.limited to:
(a) All rents, issues, profits, revenues, royalties,
rights and benefits derived from the premises from time to
time accruinq, whether under leases or ~enancies now existing
or hereafter created, reserving to Mortgagor, however, so long
as Mortgagbr is not in default hereunder, the right to receive
and retain the rents, issues and profits.
(b) All judgments, awards of damages and settlements
hereafter made resulting from condemnation proceedings or the z f
r taking of the premises or any part thereof under the power of ~
eminent domain, or for any damage (whether caused by such ; .
~ taking or otherwise) to the premises or the improvements ~
thereon or any part thereof, or to any rights appurtenant
I~i thereto; includin an award for a
g y ch nqe of grade of streets. _
~ Mortgagee is hereby authorized, on behalf and in the name of i
~ Mortgagor, to execute and deliver valid acquittances for, and ;
~ to appeal from any such judgments or awards. Mortgagee may i
a 1 all such swns~or an ~
~ PP Y y part thereof so received, after
the payment of all of its expenses, including costs and
~ attorneys' fees, on the indebtedness secured hereby in such
~ manner as it elects, or at its option, the entire amount or
~ any part thereof so received may be released to Mortgagor.
~ This mortgage is subject to the terms, provisions and conditions
! of that certain construction loan agreement of even date here-
; with entered into between 1?iortgagor and Mortgagee herein and
~ said construction loan agreement is by reference incorporated.
: herein and made a part hereof. Said construction loan agree-
~ ment is available for inspection by all parties in interest at
~ the office of Mortgagee. It is exgressly understood and agreed
~ that a default by Mortgagor under the terns of said construction
~ loan agreement shall constitute a default under the terms of
€ this mortqage and in such_event Mortgagee may at its option
~ accelerate payment of the debt hereby secured.
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~~r~p ~ ~ tN P~:YMd(T OF TA~(ES
~ DUE ON GASS'C INT1~1161BLE PERSOPIAL PP.OPERII,
~ PIlRSI~ANT TO GiAPTEII A•13t. A~CTS Of 1811. ~~1~
IIDiER lOtT~ ~
~ I~Rf( GeGlIT OOIIIC[. ST. YICK 00. FUl ~
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~ 9~J~K
£ ` ~ ° R 242 P~~~ 2405
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