Loading...
HomeMy WebLinkAbout2527 ~7~, ~ Ili ~ / MORTGAGE DEED AND SECURITY AGREEMENT Feb. THIS MORTGAGB DEED (the Mortgage), dated as o[ 2 , 18,, by and between DOUGLAS W. ROOKS (hereinafter called Mortgagor) and . SUN BANK OF ST. LUCIB .COUNTY ,having an office at 111 Orange AVenu@, Fort Pierce ,Florida (hereinafter called Mortgagee); WITN899ETH, that in consideration of the premises and is order to secure the payment of both the principal ot, and interest and any other sums payable on the note (as hereinafter defined) or this Mortgage and the performance and ob- servance of all of the provisions hereof and of said note. Mortgagor hereby grants, sells, warrants, aliens, remises. releases, rnnveys, arigns, transfers, mortgages and sets over and rnnfirtns unto Mortgagee, al! of Mortgagors estate, right, title and interest in, to and under all that certain real property situate in St. Lucie County, Florida more particularly described as follows: . The South 188.1 feet of Lots 4 and 5, SUNSET PARK SUBDIVISION, being a Subdivision of the S§ of the St1 of the NW{a of the NEB of Section 30, Township 35 South, Range 40 East, as per plat thereof recorded in Plat Book 6, page 18 of the Public Records of St. Lucie County, Florida. STATE~~~ -~LORIG~-~ D_rJCUMEN7A_R_Y STAMP Tt~ JEi'T. Of i;_YENil~ ~2•1~;:~~a - - ~ i ~"d v tl1IE 811 txAAtt 'C M1RMrLE ~t10/EItN. 1'~ FI~{~ TO tMAt'7'E8 7t'178. AA:Ti OT NT1..,~{~ R88ER ~iT~ / ' " t K :1 U T CURT, ST. Ltl.,IE W+ R~ TOGETHER WITH all improvements now or hereafter located on said real property and. all fixtures, appliances, apparatus, equipment, heating and air conditioning equipment, machinery and.ariiclea o[ personal property and replacement . thereof (other than those owned by lessees of said real property) now or herea[tpt affixed to, attached to, placed upon, or used in any way in•rnnnection with the complete and com[ortable use, occupancy, or operation of said real property, all licenses and permits used or required in connection with the use of said real property, all leases of said real property now or hereafter entered. into and all right, title and interest of Mortgagor thereunder, including without limitation, cash or securi- ~ ties deposited Wereunder pursuant to said leases, and all rents, issues, proceeds, and profits accruing from said real property ~ and together with all proceeds of the conversion, voluntary or involuntary of any of the foregoing into cash or liquidated claims, including without limitation, proceeds of insurance and condemnation awards (the foregoing said real property, tangible and intangible personal property hereinafter re[erred to as the Mortgaged Property). Mortgagor hereby grants to Mortgagee a security interest in the foregoing described tangible and intangible personal property. TO HAVE AND.TO HOLD the Mortgaged Property, together with all and singular the tenements, hereditamenta and appurtenances thereunto belonging or in anywise appertaining and the reversion and reversions thereof and all the estate, right, title, interest, homestead, dower and right of dower, separate estate, possession, claim and demand whatsoever, as well in law as in equity, of Mortgagor and unto the same, and every part Wereof, with the appurtenances of Mortgagor in and to the same, and every part and parcel thereof unto Mortgagee. blorigagor warrants that it has a good and marketable title to an indefeasible fee .estate in the Mortgaged Property subject to no lien, charge or encumbrance except such as Mortgagee has agreed to accept in writing and Mortgagor covenants that this Mortgage is and will remain a valid and enforceable first mortgage on the Mortgaged Property subject only to the e:captions herein provided. Mortgagor has tuft power and lawful authority to mortgage the Mortgaged Property in the manner and torn herein done or intended hereafter to be done. Mortgagor will preserve such title and will forever warrant and defend the same to Mortgagee and will forever wnrrnnt and defend the validity and priority of the lien hereof against ' the claims of all persons and parties whomsoever. Mortgagor will, at the.cost of Mortgagor, and without expense to Mortgagee, do, execute, acknowledge and deliver all and every such further acts, deeds, conveyances, mortgages, assignments, notices of assignment, tranatera and assurances as Mortgagee shall from time to time require in order to preserve the priority of the lien of this Mortgage of to facilitate the performance of the terms hereof. PROVIDED, HOWEVER, that it Mortgagor shall pay to Mortgagee the indebtedness in the principal sum of ! nnn_nn S III, as evidenced by that certain promissory note (the Note), of even 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 behalf of Mortgagor pursuant to the Note or this Mortgage, the final maturity i. date of the Note and this Mortgage being Se= t 1, 151.94 ,and shall perform all other covenants and conditions of the Note, all of the terms of which Note are incorporated herein by reference as though set forth Cully here- in, and of any renewal. extension or modification, thereof and of this Mortgage, then this Mortgage and the estate hereby created shall cease and terminate. - Mortgagor further convenants and agrees with Mortgagee as follows: 1. To pay all sums, including interest secured hereby when due, as provided for in the Note and any renewal, extension ~ or modification thereof and in this Marigage, all such sums to be payable in lawful money of the United States of America ~ at Mortgagee's 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 taxes, assessments of any type or nature { and other charges levied or assesxd against the Mortgaged Property or this Mortgage and produce receipts therefor upon demand. To immediately pay and discharge any claim, lien or encumbrance against the Mortgaged Property which may be ! or become superior to this Mortgage and to permit no default or delinquency on any other lien, encumbrance or charge ~ against the Mortgaged Properly. z 3. ~ If required by Mortgagee, to also make monthly deposits with Mortgagee, in anon-interest bearing account, to- ~ gather with and in addition to interest and principal, of a sum equal to one-twelfth of the yearly to:es and assessments which gaged Property, and lit so required) one•tweltth of the yearly premiums for insurance may be levied against the Mort thereon. The amount of such tares, assessments and premiums, when unknown, s6a11 be estimated by Mortgagee. Such A deposits shall be used by Mortgagee to pay such taxes, assessments and premiums when due. Any insufficiency of such 4 F 7 gt30!(~~ turf 2~~4 ~ ~ r ~ 2 ~