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Home My WebLink About0311 . . _ _r_____.. - ~ ~~s3os . ~ , . ~ : ; ; s ~ ~ , , . t . ~ ~ ~ . MQRTGAGE DEEI~ AND SECURITIf AGREEMENT Tl~us MoxT(iAaB Dssn ~w. Mv,KSa~e>. aated o~-ugust 4, , 19~~ , b~? ana b.cwoeA $rnest M. Rovella and Phyllis Rovella, his aife (he~einatter called Morfssjor) and Suri SaAk Of St. LuC~e CouAty • b°`'i~ an Fort ~ferce. Florida ci~~'ei~stter call«t MortaBsed~: VIRTN888SST~~, thet in coaidderatioa ot t6e preini~a~ and in order to ~scure ths pe~yment ot both tbs prlncipsl of. and ' interat aAd aap other ~un~ payabls ou !bs nob (as bereinafter defined) or t~uw Mortaa~s and the F~oraae~nos and ob- ~etvanos K ail ot tbs providotu bersot ud ot ~aid nat0. Mort~aaor M~reb~r irant~ ~s1b. warnnb. alieAS, remi~e~, relea~e~. oonve~ a~. trander~, moetp~e~ and atts o~~er and cont'ums uato Mortg~ee, all ot Mortpaor's edate. sl~ht, title and iaaresi ia. to and undes all tl,a! certain real prope~ty? sicuste ~n St . Luc f e countr. Florida nwrs pert;cutarly as.c~ibea a. rollaws: A portion of Lota 10 and 11, RUSSBLL' S 3UBDIVI3ION, ae per plat book 1, paqe 186, St. Lucie County-PubZic Records, more particularly deacribed as fol~ows: Commencinq~at the center of Section 28, Township 34 3outh, Ranqe 40 8ast, run South alonq the ~ Section Line a distance of 332.06 feet to the northeast cor.ner of Lot 10 of s~id RUSSEL~.'S SOBDl'~TISION= thence run West alonq the t~orth line of safd Lot 10 a distance of 60 feet to the point of beginninq; thence run South parallel to the west line of said lot 10 a distance of 190.42 feet to a pointt thence run west parallel to the north line of lot 10 a di~tance of 244.50 feet to the Sast fiiqht of way of U.S.~ l, thence ~un northwesterly alonq said riqht of way to a poimt where the extension Westerly of th~ north 2ine of lot-10 would touch the east riqht of way line of U. S. # l. ~afd extension line also beinq the north line of lot 11; thence turn and run,East on a line parallel with the aorth line of said lot l0 to the paint of beginninq. . '1`OdR1'H8R W1TH all improvemen4 now or bere~fter locate~ on aaid re~l propedy and all ti:tuz'e~. aPPlianoes. a~perstu0. e9uipment, heatiq~ a~l sir conditioninR equiPme~?t, machit~ry ewd atticles of per~ona! pmperty and replacsment tbei~eo[ (other t6an thwe owned by iee~ees of eai~ reul groperty) novv or }~reatter affued to, attached to, placed upon. or ' _ used in any wray in oonnectioa rvith !he cotnplete aad comfortable 1ue. occuPan~?. or operation of said ceal P~Pe~. ~ licensa and pecmits wed or i'e9~ired in connedion with the use ot aaid resl AtopertY, all leases o[ eaid nal Psoperty now or hereaites entered into and aII ri~6t, tide and inteeest o[ Motl6agor tlsereunder, inclndin~ witLout liinitatioq cash or sec~ri- ties depoeited tbeieu~er pusa~e~e! to a~ les~e0. and all renb. iewe~. Proceeds. and profib acrruina fr~ seid real P~Pe*h? and togatbsr with all prooasd~ ot t6e oonverrion. vduntary oz iAVOlnntarp. of any of t6e [orssoin~ into .caah or liquidated claims. indudin~ . witwait limitstion, Pt~ooesd~ of ineuranoe a~rd oondem~u~tion award~ (tbe fongoiua ssid t+eal P~~Y. tan~ible aind intangibla peaonai pmpe~r LareinaEter rsfened to as tbe Mortga~ed P~erty)- Mortaaaos bereby araats ;o Mort~ee a secnritp intere~t in the foresoina deectibed t~a~ible and intansible P~~ w~~Y• " TO HAVB AND TO HOLD the ~art;aaed PmPert,y'. tu6etber with all and ~unguler tbe tenements, hereditamenb aad epPurtenanoes there~nto belonain~ or•id anywi~e aPpertainin6 aad the revetsion and r~necsions thereoE and all the estate, ria6t, title. intered, bomestead. dower and risht of dorver, eeperate e~tate. PoMaaion, claim and demand what~oever, as wep in law as in equity. oE Mo~oc aad unto the same. and every part thereaf aith tl~e appurtenanoes ot Mortaagor in and to tha aame, an@ ev~ery part and p~rcel_ tlienwt unto Mortgagee. : Mortg~or warranb that it has a sood and marketable title to an indefeasible tee estate in tbe Mostaaaed Property subject to ao lieq charae or eircumbr~noe e:cept wch as Mort;aaee has agreed to acoept in writing and Mortgagor covenants t6at thi~ Mortaage is and wiU remain a valid and enioroeable fiist mortgage on t6e Mortgnged Property subiect'ody to the szceptioi~s 6ereu? pro~ided. Mostsasor hes full po~rer and tawfd authority to mortaage the Mort~ea PmpedY in t6e manner and torm heeein dons or intended bereafter to be dona Most~or wiil pre~eiv+e snch title and wrill torev~er warrant and defead tlis e~me to Mort~ee and wi11 forever_wasrant end detead the validitp and priority of the lien hereof a~ainst the claims oi all perwm end parties wlwm~oeves. Mort{~asor will, at the coaE of Mortaaaor. and without e:pense to Mortgagee, do, ~ec~cte, acknororledge aad ddivet all and every sac6 fnrWer scte. deed0. conv~eyanoes, moitgages. seaignments. notices of aseianment, transfers and assuranc~ea aa Mottaases ahali tmm time to tia~e rei~uine in order to preeerve the priority s.+! t?+~ ~ien of thi,s Mort~ge or to tacilitate the perfom~anoe of tbe terms henoL ~ PROYIDED, HOWEVER. that it Mortgagor ahaD pay to Mortgagce t6e indebtednees in tbe principal sum oE . ~D.1~~0.0~ as evidenced by tbat certain promiasory note (the Note), ot even date berewitb, ezecuted by Mortaaao~ aud payable to order ot Mortaagee~ with intereet and upoa the terms as Provided therein, and together with all otLer wms advanoed by Morlgsgee to or on b~ebalf oE Mortgnaor p~urawant to the Note or this Mortga~e, the final msturity date ot tLe Note and Wis Mort~e 6ei~ - November 10 . 1987 ,~~1 pe~orm all other covensaq and oondition of tLe Nots, alt of tbe terms of whic6 Note are incorpornted 6ereiu b3? reterence as t6ough ~et forth tully ber~ ~ in. aad ~ an~? r~nrwal, ~tsnsion or modif'ication, thereof and of this Moregege, then t6is Mortg~e aad t6e eatate hereby created ~hall ce~e and terminate, " Mortaaaor furt6er comena~b and a~eee~ with Mort~ee as totlowa: " l. To pey all aum~, induding intered ~ecured herEby when dne, a~ Provided for in tLe Note and any reaewal, e:tenaioa or modification thereot and in tLis Mortga6e, all such sums to be peyable in lawful money of the United 3tates oE America ~t Mortp~ee's afore~aid principai oEfioa, or at euc6 other plaoe aa Mort;agce may deaignate in writing. Z. To ~y ahen dw. and w~it6ont requisins any notice fmm Mortgagee, all t~es. a~neate of eny type or nature io and other c~ar`as levied or a~sered aaainit tLe Mortgaaed Pmpedy or this Mortga~e and pra~inee receipts tl~eretos upon ~ deiaand. To im~mediatd,y PeY and discbarae anY claim, lien or encumbrance against tbe Mortgaged Pmprrty w6ich may be - ( or-baco~p~atios to t~ Mortsaae and to permit ~ defadt or delinquency on any othei lien~ encumbrance or diarae a, ~ ~ M~ S. If required by Mortaaaee, co al.o make monthly deposics wiW Mortgagee, in a noa-intereat 6~ring aocount, to- ~ether writb and in additirnp to interest aad PiinciPd. ot a wm equal to ona-twretfth ot tlje yeariy t~e~ and a~scamenta which tJ maay be levied aasiad tLe Mort~ed FropertT. and (iE so reqnired) one-tw~ftb of tbe y~r1Y Premiums tor iLSUrance thereon. T6e sawant o[ suc6 tau~, a~en4 and preminm~. when nnimown, t6all be estimated by Mort~ee. 3uch ~ O depaib ~bsl! be u~ed by Mottaagee to pay snch taze~. ase~amenta and premium~ ~rhen dae. Any insufficisncy o[ such ~ E -1- ~ ~ ~ ~ J ~ ~ ON ClASS ~ INiAM616 PER"~P~OPERIY ~1~I~M1T TO p1APTER 71•13!. ACTS Oi )911. ~ rye~ ROGER PORW1,4 SO~x ~ ~ ~i ?AGE ~ d~c ppqut oou+~t,.sr. wc~E