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MORTGAGE DEED AND SECURITY AGfRE~T ~ { ~ '
THIS MORTGAGE DEED (the Mortgage), dated as of FebruatT is • ' ~ 1879 , by and between
HAROLD H. ODLDMAN, joined by DIANA CaOLDNAN, his wife
(hereinafter called Mortgagor) and ~ SUN BANK OF ST. LUCIB COUNTY .having tin .
office at 111 Orange Avenue, Fort Pierce .Florida (hereinafter called .Mortgagee);
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WITNTs38ETH, thst in consideration of the premises and in order to secure the payment of both the principal of, 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, warrant, aliens. remises. releases,
conveys, assigns. transfers. mortgages aad set over and conPtrms unto Mortgagee, all of Mortgagor
s estate. right, title and
Interest tn~ to and under all that certain real property situate in County, Florida more particularly
described as follows:
Lot 24, Block 172, SOUTH PORT ST. LUCIE, UNIT ELEVEN,
according to the plat thereof as recorded in Plat Book
15, pages 15 and 15A through 15C of the Public Records
/ of St.-Lucie County, Florida.
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TOGETHER WITH all improvements now or hereafter located on said real property and all fixtures, appliances,
apparatus. equipment, heating and air rnnditioning equipment, machinery and articles of personal property and replacement
thereo[ (other than those owned by.leasees of said real property) now or hereafter aftixed.to, attached to, placed upon, or
used in any way in connection with the rnmplete and comfortable use, occupancy, or operation of said real property, :rll
licerrses 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 thereunder pursuant to said ?eases, and all rents, issues, proceeds, and profits accruing from said real property
and together with all proceeds of the convention, voluntary or involuntary o[ any of the foregoing into cash or liquidated
claims, including without limitation, proceeds of insurance and rnndemnation awards (the foregoing said real property,
tangible and intangible personal properly hereinafter referred to as the Mortgaged Property). IUlortgagor 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, hereditaments and
appurtenances thereunto belonging or in anywise afrfrerlaining and the reversion and reversions Ihereof 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 e~quily, of M_ ortgagor and unto the name, and every part thereof, with -the appurtenances of Mortgagor in
and to the same, and every part and parcel thereof unto Mortgagee. ~
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Mortgagor warrants that it has a good and marketable title to an indefeasible fee estate in the Mortgaged Proferty
subject to no lien, charge or encumbrance except such as Mortgagee hus 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
exceptions herein provided. Mortgagor has full power and lawful authority to mortgage the Mortgaged Property in the
manner and Corm herein done or intended hereafter to be done. Mortgagor will preserve such title and will [orever warrant (
and defend the same to Mortgagee and will forever warrant and defend the validity and priority of the lien hereof against i
the claims of all persons and parties whomsoever. '
Mortgagor will, at the cast of Mortgagor, and without expense to Mortgagee, do, execute, acknowledge and deliver all
l and every such further acts, deeds, conveyances, mortgagee, aaaignmenta, notices of assignment, transfers and assurances as
Mortgagee shall from time to time require in order to preserve the f~riority of the lien of this Mortgage or to facilitate the
performance of the terms hereof.
PROVIDED, HOWEVER, that if Mortgagor shall fury to Mortgagee the indeMedness in the principal sum of
t ~d,a3~ 23 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 sumo 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 thig Mortgage being Feb_ 1,, 1989 ,and shall perform all other covenants and
conditions of the Note, all of the terms of which Note are inrnrporated herein by reference as though set forth fully here-
in, and of any renewal, extension or modification, thereof and of this 14tortgage, 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 Mortgage, all such sums to be payable in lawful money of the United States of America i
at Mortgagee's aforesaid principal office, or al such other place as Mortgagee may designate in writing.
2. To pay when due, and without requiring any notice tram Mortgagee, all, taxes, assessments of any type or nature
and other charges levied of assessed against the Mortgaged Property or this Aortgage and produce receipts therefor upon
demand. To immediately pay and discharge prey 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 1ltortgaged Property.
3. I[ required by Mortgagee, to also make monthly deposits with Mortgagee, in anon-interest bearing account, to-
gether with and in addition to interest and principal, of a sum equal to one-twelfth of the yearly to:ea and assessments which
may be levied against the Mortgaged Property, and lit so required) one-twelfth of the yearly premiums for insurance E
thereon. The amount of such to:es, assessments and premiums, when unknown, shall be estimated by Mortgagee. Such
deposits shall be used by Mortgagee to pay such taxes, assessments and premiums when due. Any insufficiency of such
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aoo~3~ P~1381