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Home My WebLink About0050 ;~;~s:~s~. ; . ~~K ~~1~ MORTGAG~ DEED AND SECURITY AGREEMENT THI3 MOR1'GAGE DEED (the Mort`»~e), ~cea a. ~c ~lovember 29 ~ 18 7$, by :~nd between DARWIN G. MULCAHY and HELEN L,~MULCAHY, his wi~e - (bereinatte~ ca11Ad Mortgagor) and SUN BANK OF ST .~UCIE , having an otr~~ At 700 Virginia Avenue , Fozt Pierce , Florida /herrinalter c•~uea MoN;~~B~?; W1TNE33ETH. that in consideration of the pnmis~s ar~d in order to secure the payment of twth t6e principal of. and intecest and any other sume p~yable on the note (as hereinattar detined) or thia Morlsage and the pedora~ance and ob- servaaoe of al) of the provisions hereot and ot eAid note. Mortaasor hereby ~rants. 'selb. warrants, aliens, remise~, releases, convays, aisigns, trensfers, mortgagea and seb over and contirms unto Mortgagee, all ot Mortgagor's estate, ri~tht~ title and iaterest in, to and under all thnt ce~tain rnai property situate in St . Lueie County. Florida more {~aHicuiarly deac~ibed as tollows: . The East 221 feet of the iJest 442 feet of the North 18S.0 feet of the Northeast 1/4 of the Northc~est 1/4 of the Sauthwest 1/4 of Section 29, Township 35 South~ Range 40 East, St.Lucie County. Florida. 71i~e Mo~rtg,ego~ shall not ~ tt~e property martgage h~erein with~ou~t the oonxent o tt~e Mrnctg,ag_ee aaad< tbe essumptian the~ ~ own~er of the ua~paid balAnoe of the marrgage deed, and in event transfer or aonv~eyai%oe is made without caocisent and assumpti~on in due fa~m, then the u~aid bala~oe of thi.s mo~tg,e~gemay be a~coelerated witho~u~t notioe by t~e Moartg,agee ar~d t~e Moxtg,agee m~q decl,mre the entire debt due . and payabLe. " TfiIS.IS A FIRST MORTGAGE 1'O('ETHER WITH all improvementa now or hemafter (ocated ari said ceal property anc! al! li:turea; teppliances, ! apparefua, cquipment, heating and air rnnditioning equipmenf, machine and articles ot 1 ry petaonat property and replacement ~ thereof (other than thoee owned by leaseea of said real pmperty) now~or hereatter atti:ed.to, attached to~ placcd upon, or ~ used in any way_in connection with the complete and com[oriable uae, orcupancy, or operetion ot eaid reat property, al! ; licenaea and permita ueed or required in connection with the use ot said real property, all leseea of said real property now or i hereafter entered into ar~d all right, title and interest ot Mortgaaor thereunder, including v~rithout limitation, cash or securi- ties deposited thereunder pursuant to said leasea, and ali rea4. iasues. Proceeds, and pro(ita acrruing trom said real property and together with all proi~ecds ot the conversion, voluntary or invotuntary of any ot the [oregoing into cash or liquidated cWims. including without limitation, pra~[.¦ede of insurance and condemnatioa awarda (the (otegoing said' real property, tangible and intangible peraorir~l property Mereinafter reterred to ae the Mortgaged Propetty). Mortgagor hereby grants to Mortgagee a eecurity interest in the foregc+ing descr~bed tangiole and in[anginte {,e~a„nai Nrr.,~~ty. TO HAVE AND TO HOLD the Mortgaged Property, together with all and aingular the tenements, hereditaments and appurtenances ther ..,.:o belonging or in anywise appertaining and the reveraion and reveraions thereof and aN the estate, ~ight, title, interest, boiueatead, dower and right of dower, separate estate, poaseasion, claim and demand whatscever, as well in law aa in equity, of Mortgagor And unto the same, and every part thereof, with the appurtenances ot Mortgagor in and to the sa:ne, and every part and pamel thereo( unto Morlgagee. 111ortgagor warrants that it has s+ a.ru1 and marketable title to an indeteasible (ee eslate in ihe Mortgagetl Properiy aubject to no lien, charge or encumbrance e:cept such as Mortgagee haa agreed to accept in writing and Morigagot covenants ihat this Mortgage ia and wiU remain a vaiid and enforceable tirst mortgage on the Mortgaged Property aubject only fo the exceptions herein provided. Mortgagot has (ull power and law(ul authority to mortgaae the Mortgaged Property in the • mannet and form herein done or intended hereatter to be done. Mortgagor will preaerve auch title and wili torever warrant ' and detend the aame to Mortgagee and wi4 torever warrnnt and defencf the validity And priority of the lien hereot againat the ctaims of ull persons and partiea whomsoever. Mortgagor will, at the coet of Mortgagor, and without expenee to Mortgagee, do, e:ecute, acknowledge and deliver all - pnd every such turther acts, deeds, conveyancea, mortgagea, asaignments, noticea of asaignment, transfers and aesurances aa Mortgagee shall trom time to time require in order to preserve the priority of t6e iien of ihis Mortgage or to (acilitate the pertormance of the terms hereof. O~j IR D OWEVER, that if Mortgagor ahall pay to Mortgagee the indebtedness in the principal sum of a O~ aa evidenced that certain by promissory note (the Note), of even date herewith, ezecuted by bfortgagor and payab~e to order ot Mortgagee, with intereat and upon the terms as pm~~ded therein, and together with all other suma advanced by Mortgagee to or on hehnl( ot Mortgagor Rursuant to the Note or this Mortgage, t6e fina) maturity date oi the Note and thia Morigage being _ 29: 1988 , and shall pedorm a1T other covenanta and ~ conditions of the Note, all ot the terms of which Note are incorporated hernin by re[erence aa though aet torth tully here- - in, and of any re:~ewal, extension or moctification, thereot and of thia Mortgage, tfeen this I?lortgage and the eatate hereby created ahal! cease and t~rminate. . Mortgagor further convenanta and agrees with Mortgagee aa followa: 1. To pay all sums, including intereat aecured hereby when due, aa provided tor in the Note and any renewal, extension ' or modi(ication thereof and in this Mortgage, a11 such sumb to be payable in law(ul money of t6e United 3tatea of America ~~t I~tortgagee a aforesaid principal oftice, or at euch othet- plece as Mortgagee may designate in writing. 2_ To pay when due, and without requiring any notice irom Mortgagee, a11 ta:es, aseeasmenta of any type or nAtuce and other c6argea levied or assesaed against the Mortgaged Pmperty or this Mortgage and produce receipta therefor upon demand. To immediately pay and diacharge any ctaim, Iien or encumbrance against the l~iottgaged Property which may be or hecome superior to this Mortgage ahd to permit no detault or delinquency on any other lien, encumbrance or charge aqainst the Mortgaged Property. 3_ If required by Mortgagee, to aleo make monthiy de{x~sita with Mortgagee, in a non-internaf bearing account, to- gether with and in addition to intereat and principal, ot a sum equal to one-twelfth of the yeady taxea and aa.eaemente which may be levied against the biortg:?ged Property, and (if so required) one-twettth o( the yeariy premiums for inaurance thereon The amount ot such ta:es, aaeessmenta and premiums~ when unknown, aheA be estimated by Mortgagee. Sucb de~asits ahaU be used by I?toriqaqee to pey such ta:ea, asaessmenta aad premiums when due. Any inau[ticiehep oE such Received ~~~M psl~~t Ot T~~ - t- Dus On Gs~~ "C' Inf~nYe1~ PlNSOrf~1~~ a~~x 2g9 Q;~ 50 ~w~ To a • ,~r~ . ~ _._4 ~ - ~ - - - ~ ~ ' , . -