The URL can be used to link to this page

Home My WebLink About0753 ~i'7U8Q ~ ~ . ~ : / _ . ~ }~S MORTGAGE DEED AND SECURITY AGREEMENT ° ' THIS 141UR'TGAGE DEED (ihe Mortgt~ge), ci,itcd t~a ot ~?lY~ 3- , 14~~ , by ;~nd I~tween ATLANTIC CONDOMINIUNLS, INC. a Florida Corporation Ihereinufter called Mortgugor) a~nd SUN BANK OF ST. LUCIE COUNTY , , ha~•ing an ot(ice at 111 Orange Avenue, Fort Pierce , FloriJn (herrinafter cullEd Mortgt~gee): WITNESSETH, lhnt in considersiliun of the premises and in order to secure the ~yment ot hoth the princi~~:~l of, und interest pnd uny other suma puyable on the note (as hereinatter detinedl or this 111ortgnge a~d the ~~erformance und ob- servance of all ot the provisions hemot ~nd ot said note, Mortg:+gur hereby gmnta, aells, warn~nts, nliena, mmiars, releases, ronveys, nsaigna, trons(ers, mortgages und sets over And ron(irma unto Mortgagee, all o[ Tiortgagor's estnte, riRht, (itle Hnd intetest in, to and under aU that ce~tnin re:~l property situate in St _ I.nni ~'ounty, Floridn more pt~rti~•ularly /d deacritxd t~s tollowa: . • . PER ATTACHED EXHIBIT "A" ~ ' - - - • ~ ` ~ c l_ - . • ~ R~cs~v~d i -,-.~..'Ll.~. M Payment 01 Taues ' . • ' ' . • _ ~ . ; Ow On Ck~s "C' In~pb1~Pl~rsoMlRop~rtl?. ~ ~ Arwarn To Ch~1n 71. t34. AaM~ Of 1/71. - _ . ~~~l.5C~~ - ~ - _ - - - ~ - c~ cMow~ c«.~. s~. t~ot~ a~. r~ ~ TOGETHER N'ITH all impro~~emrnts now or hereaher located un ~:iid mal pro~?erty and all lixtures, :~pplian~•i•~, ap{~aratus, equipment, helting and air conditioning equipment, machinery and articles ot personal pro~~rty and mplacement thereof (other th:~n those owned by 1es.gees of s:~id real property) now or hereatter a(fixed to, attached to, placed upon, or used in any way in connection with the ~romplete and com~ortahle use, occup:~ncy, or operntion ot said rnal pro~~rty, :il) ~ li~rnsea .ind permits used or required in connection with the use ot said ceal property, all leases oi said rna) pro~>erty now or ` hemafter ente~ed into and all right, title and interest of t4iortQagor themunder, includinR without limitation, cash or securi- ties de~msited thereunder pursuant to said leases, and all rents, issues, proc-eeds. And profits accruing from sa?id real property and toqether with all proceeds ot the com•ersion, ~•oluntary or involuntury ot any of the toregoinR into cash or liquidated claims, including without iimitation, prora-eeds of insurance a~nd condemnation awards (the foregoing said real pro{~erty, tangible and int~ngible ~~ersonal pro~~erty herein:~iter referred to .is the More~aRed ProE~erty). ~tortRaRor hereby Rr.~nts E to hlortg.iRee a sec•urity interest in the foregoing d~~scrit~ecl t~~ngible and intangible ~~erson:~l property. j TO HAVE AND TO HOLD the ~4ortgaged Pro~~erty, together with all and singular the tenements, hereditamenls and ~ appurtenances thereunto t?elonging or in anywise :~p~~ertaining and the reversion and rever:sions thereof and all the estate~, riqht, tiUe, interest, homestead, dow~er and right of dow•cr, sepante estate, possessio~, claim and demand w~hatscever, .is well in law as in equity; of ?11oriR:~Ror :~nd unto thc same, and e~~ery part thereof, wit~ the appurten:~nres o( \1ortR:~Ror in :~nd to the k~me, and e~~ety pa~rt and ~Hin•el thereof unio Mort~a~ee. - ~ f I. Mortgagor warranls that it h:~s a good and marketable title to an indefeasihle fc~• estate in the ~1ort~a~ed Pm~~erty ~ subject to no Iien, charRe or encumbrance except such as liortgagee h.~s :~greed to acce~>t in writing and Mortgagor coven~ints that this Mort~age is a~d w•ill remain a valid .ind entorceable tirst mortgage on the Aiortgaged Pro~~erty subject only to ihe exceptions herein provided. b#ortgagor has full po~cr and I,iw•ful authority to mortga~e the htortgaged Property in the ~ manner and form herein done or intended hereatter to be done. 111ortRuRor w•ill presen•e such tiUe and w•ill (ore~•er warrant and de(end the same tn MortQaRee and wi11 fom~•er warrnnt and defend thP ~:ilidify :ind priority of tfie lien hereof :~Rainst the claims ot all ~>ersons :~nd parties whomsoever. j . ! ~tortQagor will, at the cost of liortgagor, and without expense to 111ortRaRee, do, execute, acknow~ledRe and deli~~er all and every such further acts,.deeds, cont•eyanc•es, mortQaRes, assignments, notices ot assi~nment, trans(ers and assurances as Mortgagee shall from time to time mquire in order to prc~en•e the priority o( the lien of this \tortgage or to (acilitate thc ~~er(ormance o( the terms hereof. PROVIDED, HO~VEVER, that i( D1ottgaRor shall p:iy to 11ortR.iRee the indebtedne:s in the principal sum oi ! 3 as evidenced by that certain promissory note (the Note), of even date herew•ith, eYecutc~d by ; hfortg.~gor and pay.~ble to order of htortg.~gee, with interest :ind upon the terms as pmvided therein, and together with all other sums ad~•anced by 114ortgaRee to or on behalf o( :11ortRagor pursuant to the Note or this Mortgage, the final maturit~~ date o( the Note and this htortgage beinR Aug. 1979 , and shall perform all other ~•o~•enants :~nd ~•onditions ot the Note, ~~)1 0( the terms of which \ote are incor~~oraied herein by mfemnce as though set forth tully here- in, and of any renewal, exttnsion or mrxlification, thereof and of this ~tortRage, then this ~tortgage :~nd the estate hereby ~•reafec! ~hall cease and terminate. ~1nrt~aRor further com•enants and agrees with 111ort~a~ee as tollo~cs: ~ - 1. To pay :+11 sums, including interest se~vred hereby a~hen due, as provided tor in the Note and any renewal, extension or mrxli(ication thereot and in this MortRa~e, all such sums to t~ pavable ir, law?u) money of the United States of Ameri~•a at hlortRaRee a a(ore~id principal office, or at sw-h other place as 1~fortRaRee may desi~nate in writinR. - 2. To ~iay when due, and without requiring any notice fmm l~lortgagee. all taxes, assessmenta of any type or nature and other charges levied or asses.ged against the Mortgaged ProE~erty or this ;1lortgage and produce receipts thernfor upon dem.ind. To immediately pay and discharge any clnim. lien or encumbrance against the Mortgaged Property which may be or bec•ome superior to this btortgaRe and to permit no default or delinquency on ~ny other lien, encumbrance.or char~e aRain~t the Alortg~qed Property. ' 3. If required by MortgaRee, to also m:ike monthly deposits withr.llor~agee, in a non-intemst~ I~earing account, to- ± Rether with and in addition to interest and princi~k~l, of a sum equat to one-twel[th of the j~early taxes and as,qeasments which may be levied against the Mortgaged Pro~~erty, and (i( so reyuired) one-twelfth of the yearly premiums tor insurance thereon. The amount of such taxes, assessments and premiums, when unknow~n, shall be estimated by MortRaRee. Such , de~xnita sFwll he useci bY MortRaQc•e to pay such taxes, assesgments and premiums when due. Any insu((iciency o( such -1- Q*e~ . B:J~ ~ - - = ir.s~~ _ • ~ - x ~ ~ ~~x . '~-,.~.~+xa~~ d. ~