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HomeMy WebLinkAbout0923 ~3i~Ei~5 / ~ MORTGAGE DEED AND SECURITY AGREEN~~,N7~ .~4 THIS MOR1'GAGS DEED (the Mortaa~e), duted aa of December 23. , 1977 , by ~~d hetween Jaiaes W. Law and Ann R. Law, his wife Ihereinatter ~~lled Mortgugorl und SUD BSRk Of St. LL1C~@ COLUlty , having a~n ottioeat 111 Oranqe Avenue, Fort Pierce, , Florida Ihereinafter~•alled Mortgageel: WITNE33ETH, that in consideration ot the premises and in order to eecure the payme~t of 6oth the principal ot, and intereat and any other sums payable on the note (as hereinafter detined) or this Mortgage and the performance and ob- seevance ot all ot the provisions hereot and of said note, Mortgagor hereby srnnta, selts, warrants, aliens, remises, releases, " conveys, assigns, transten, mortgages a~d sets over and contirms unto Mort6aRee, all ot Mortgagor s eatale, riRht, title nnd interest i~, to and under all thet certain repl property situate in St . Lucie County, Florida more particularly a~r~~a ~ touow.: INDUSTRIAL SUBDIVISION, Begin at a oint 150 feet South of the NW corner of Lot 8 on the East right-of way of F.~.C. Tract nwnber 8, thence continue Sputh on right of way 80 feet, thence run South 88 degrees, 58 minutes East 498.69 feet to the West right of way of Oleander Avenue, thence North right of way 80 feet, thence North 88 degrees, 58'minutes West 498.25 feet to Point of Beginninq being part of lots 8 and 9 of Industrial Subdivision. STAT'E ~ ~Lr;~?;^ 1 i)G~,:f,,rtE!v'A2•+ . :.~At.,~~ i ! ~ . !iEt'i. is~' Y,c?i?iJE . ' U - ~e = - .,l ~ - 5 2. 5 0 t a.~.~ • D~ % _ . Dus On Class ~ ~~1Mft Ot TaocN pu?iuarn To Ch ~~~~~iPr~opw~Y. ao~s. 71. ~34, Aoa a ~971. ~ ~ y ~ 1 ~~P•? ~~rr~~~f (;AUI~. St . W OC R~R ~~~I~~ / . Lucb Fle. 'I'O('E1'HER WITH all improvementa now or herea(ter located on said real property and ali tixtures, appliances, apparatua, equipment, heating and air conditioning equipment, machinery and arlicles o( peraonal property and replacement thereof (other than thoee owned by leaseea of said real property) now or hereatter affi:ed to, attached to, placed upon, or u.ged in any way in connection with the complete and com[ortable uae, occupancy, or operation ot said real property, ali licenses and permits ueed or required in connection with the use ot said real property, all leanes of said real property now or hereatter entered into and all right, title and interest ot Mortgagor thereunder, including without limitation. cash or securi- ties de~oeited thereunder pursuant to said (easea, and all rente, issuea, prooeeda, and profita accruing (rom said real property and together with all proceeds ot the conveision, voluntary or involuntary ot any of the toregoing into cash or liquidated claims, including without limitation, procecda ot insurance and condemnation awards (the foregoing said real properly. tangible and intangibte pcraonal properiy hereinafter referted to as the MoHgaged Property). Mortgagor heteby grants to Mortgagee a security intereat in the toregoing described tangible and intangible personnl property_ TO HAVE AND TO HOLD the Mortgaged Property, together with all and singular the tenements, hereditaments :~nd appurtenancea thereunto belonging or in anyv?ise appertaining and the reversion and reversions thereof and all the estate, right, title, interest, homeatead, dower and right ot dower~ aeparate estate. possession, claim and demand whatsoe~-er, :is well in law as in equity, of 11lortgagor and unto the same, and every part thereof~ with the appurtenancea o( Mortgagor in and to the same, und every patt and parcel t6ereof unto Mortg:~Ree. Mortgagor warrants that it has a good and marketable title to an indefeasible fee estate in ihe Mortgaged Pro~ierty subject to no lien, charge or encumbrance e:cept such as Mortgagee has agreed to accept in writing and Mortqagor covenants that ihis Mortgage is and will remain a valid and entorceable ti~st mortgage on the Mortgaged Property subject only to the exceptions herein provided. Mortgagor hs~s (ull power and lawful authority to morigage the Mortgaged Property in the manner and torm herein done or intended hereafter to be done. Mortgagor will preaerve such title and will forever warrant and defend the aame to MortRagee and will forever w:~rr~nt and defend !he validity and priority of.ihe lien hereo( aRninst the claims of aU persons and partiea whomscever. Mortgagor vr'll, at the cost of Mortgagor, and without expense to Mortgagee, do, execute, acknowledge and deliver all and every auch further acts, deeds, conveyancea, mortgages, :~esignmenta, notices of assignment, trans(era and assurances as Mortgagee shall from time to time req~ire in order to presen•e the priority of the lien of this Mortgage or to facilitate ihe performance ot the term+ hereof. PROVIDED, HOVI~VER, that it 1~lortg~gor shall {tt~y to Mortgagee the indebtedness in the principal aum of a 35 ~000. ~ evidenced by that certain promissory note (the Note), ot e~en date herewith, executed by Mortgagor and payable to order of Mortgagee, with interest and upon the terms as provided therein, and together with all other sums advanced by Mortgagee to or on behalt o( Mortgagor pur~uant to the Note or thia Mortgage, the final maturity date o[ the Note and this Mortgage being FE±hr»ar= 1 A~ 1 99 ~ , and shall per(orm all other covenants and conditions of the Note, all ot the terma of which Note :~re incorporated herein by reternnce as though set forth tully here- in, ~nd of any renewal, eYtenaion or modification, thereo( and of this MortRage, then this 111ortgage and the estate hereby created ahall cease and terminate. Mortgagor further convenants and agreea with Mortgagee as follows: ~ , 1. To pay all sums, including interest eecured hereby when due, as provided tor in the Note and any renewal, eztenaion or moditication thereot and in thie Mort~age, all auch suma to be payable in lawful money of the United States ot America at Mortgagee a aforesaid principal office, or at such other place as Mortgagee may designate in writing. 2. To pay when due, and without requiring any notice from Mortgagee, all ta:ea, assessmenta of any type or nature ~nd other charges levied oi aesessed against the Mortgaged Property or thia Mortgage and produce receipta theretor upon demand. To immediately pay and discharge any claim, lien or encumbrunce against the hiodgaged Propetty which may be or hecome superior to this Mortgage and to permit no default or delinquency on any other lien, encumbrance or charge aRaiagt the Mortgaged Property- I 3. If required by Mortqagee, to also make monthly deposita with Mortgagee, in a non-interest bearing account, to- gether with and in addition to interest and principal, of a sum equal to one-tvreltth of the yearly taxes and aeeesamenta which ; may be levied against the Mortgaged Property, and (it so required) one-tweltth ot the yearly premiums for insurance thereon. The amount o( auch taxes, aaeeaemente and premiums, when unknown, shall be estimated by Mortgagee_ Such depositu ahall be used by MortgaRee to pey auch tazes, asneasment~ and premiums when due. Any insufficiency of auch r C~~s T}.3. t• ~ • • : ~ . . CtiIiCL, t'• OR t ~K 279 922 - . _ . ~ .