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431001
MORTGAGE DEED
THIS MORTGAGE made this day of ,1978
between CRAIG C.~MATTHEWS and BAS Y. MA erein-
after referred to as "Mortgagor" and UNITED PARTNERS III, INC.,
a Florida Corporation hereinafter referred to as "Mortgagee".
(Wherever used herein the terms "Mortgagor and
"Mortgagee" shall include all the parties to this instrument and
their heirs, legal representatives and assigns; and the term
"Note" includes all the notes herein described if more than one).
The Mortgagor hereby mortgages to the Mortgagee its
successors and assigns land situated in the County of St. Lucie,
State of Florida, together with all the improvements situated
thereon and the tenements, hereditaments and appurtenances
incident thereto all hereinafter collectively called the
"Mortgaged Premises", and legally described as:
Beginning at the intersection of the North right- 1'~'
of-way of AlA and the Westerly right-of-way of ~
Old Dixie Highway.lying in the Southwest Quarter
of Section 34,Township 34 South,Range 40 East,run
thence North 23 degrees,35 minutes West along the
right-of-way 126 feet thence South 87 degrees,45
minutes West 214.74 feet;thence South 23 degrees
35 minutes East 126 feet;thence Nourth 87 degrees
45 minutes East along the North right-of-way
of AlA 214.71 feet to the Point of Beginning.
This Mortgage is given to secure a certain Purchase
Money Mortgage Note hereinafter called the "Note", of even
date herewith from the Mortgagor to the Mortgagee in the principal
amount of Four Hundred Fifty Thousand ($450,000.00) Dollars,
which Note is hereby incorporated herein by reference and made
apart hereof, and to secure the payment of interest as provided
under said Note and the covenants hereinafter contained.
And the Mortgagor does hereby covenant and agree with
the Mortgagee, while this Mortgage remains in force, as follows:
1. Mortgagor agrees to keep this Mortgaged Premises
insured for the benefit of Mortgagee; Mortgagor, and such other
parties as Mortgagor shall designate, against loss or damage by
fire and with standard extended coverage as available from time
~ to time in the State of Florida for such amounts and with such
deductibles as may be reasonable.
2. Mortgagor agrees to pay all taxes and assessments
and water rates that may be levied or assessed after the
date hereof upon or against the Mortgaged Premises on or before
the last day upon which such taxes and assessments may be paid
without penalty; and the Mortgagor shall have the right to elect-
to pay and to pay any such assessments in installments, if
available.
3. If Mortgagor shall fail to keep the Mortgaged Premises
insured as above provided or to pay the premiums thereon, or
to pay such real estate taxes and assessments, then Mortgagee.,
if it so elects, may effect such insurance and pay the premiums
thereon, and/or pay such delinquent taxes and assessments,
and the amount so paid shall be secured by this Mortgage and
repaid with interest by Mortgagor within 15 days after receipt
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f by Mortgagor of written invoice therefore from Mortgagee.
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o.- IN PAIfMIENT Oi TAXES
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~ _ U Mi E !ti's: N_ ~ PURStIMT ?0 CHAPTER it-1:4, ACTS Of 1971.
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