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MORTGAGE DEED AND SECURITY AGREEMENT
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TIiIS MORTGAGE DEED, made and executed the da~y
og October , 19~~ , by M. & W. LAND, INC. , a ~
Tennessee corporation authorized to do business in the State
of Florida, ;
~
hereinafter called the Mortgagor, which term shall include the ;
heirs, legal represeatatives, successors and assigns of the said ;
Mortgagor wherever the context so requires or'admits, to ~
CLARENCE EDMONDS ~
s
~ hereinafter called the Mortgagee, which term shall include the i
heirs, legal representatives, successors and assigns of the said
Mortgagee wherever the context so requires or admits.
WITNESSETH: That for divers good and-valuable
considerations, and also in consideration of the aggregate sum
named in the promissory notes hereinafter described, the said
Mortgagor does hereby grant, bargain, sell, alien, remise,
release, convey and confixm unto the said Mortgagee, his heirs,
successors and assigns, all the certain pieces, parcels or tracts
of ~and, of which said Mortgagor is now seized-arc~ ~ossessed and in
actual possession, situate in the Count~ of Mar~inA and State of i
Flor ida, and that certain other collateral as more particularly t
o described and enumerated in Exhibit "A" attached hereto, consisting ~
pages and by reference made a part hereof.
4W ; The parties by the execution and acceptance of this
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v~,~~ ~ instrument do hereby create and constitute the same to be a
v Qo" securit~ agreement under the Uniform Commercial Code of the State
~ of Florida; and Mortgagor does hereby grant to Mortgagee
~ a security interest in those promissory notes payable to
the order of Mortgagor and listed on Exhibit B hereto, which
` promissory notes are, contemporaneously herewith, being
~ endorsed by Mortgagor and delivered to Mortgagee-. The maker
; Woa-! of each of said promissory notes~is hereby directed by Mortgagor
; ~ and Mortgagee to make payment of all sums due in respect thereof
;~`~'4--d ~ directly to Mortgagee until otherwise directed by Mortgagee.
i •
~ TO HAVE AND TO HOLD the same, together with all and
€ singular the tenements, hereditaments and appurtenances thereunto
~ belonging or in anywise appertaining and the reversion and
reversions,~remainder and remainders, rents, issues and profits
thereof and also all the estate, right, title, interest, property,_
possession, claim and demand whatsoever~as well in law as in
equity of the said Mortgagbr in and to the same and every part
and parcel thereof unto the said Mortgagee, and his heirs,
successors and assigns, in fee simple, and all renewals, additions,
- substitutions, replacements or betterments thereto. ~
~ And said Mortgagor, for itself, and its successors and
assigns, hereby covenants with~said Mortgagee, his heirs, legal
~ representatives, successors and assigns, that said Mortgagor is
~ indefeasibly seized of said land in fee simple; that the said
Mortgagor has full power and lawful right to convey the same in
A N fee simple as aforesaid; that it shall be lawful for said
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~ ~ z~., Mortgaqee, his heirs, legal representatives, successors and
~ W m assigns, at all times peaceahi~an~quietly to ent~r upon, hold,
~n Q occupy and enjoy said land and every part thereof; that said land
~ 4~~ A°- is free fro,n all incumbrances; that said Mortgagor, its successors €
oc a c ac
a~A° and assigns, will make such further assurances to erfect the fee 3
~ F~~ P
N~ ~~„r simple title to said land or the possession of title to other
m ~ ti~ collateral in said Mortgagee, his heirs, legal representatives,
a N N E M 430 ~i1rC~~OV u Q jN~'~ QOp~ i
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