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HomeMy WebLinkAbout2355 43498 t ~ ~ ~ ~ 3 ~ c`r MORTGAGE DEED AND SECURITY AGREEMENT February 6 79 - ' THIS MORTGAGE DEED (the Mort;ase), dated as of , 18 , by-and between gil~ls~~B Grace a$n ga~e~ W. Grace, husband and wife and (he~ina(te called lYor~ge~dr) And _~n~un ~alRlktof St. Lucie COUnty .baying an office at 111 Orange Avenue, Fort Pierce, ,Florida (hereinafter called Mortgagee); WITNE88ETH. that in consideration of the premises and in order to secure the pegrmeM of both the principal of, and j interest and any otbsr sums payable on tbs note las bereinaftsr defu~sd) or this Mortgage and tbs pedormanes and ob• servartoe of all of the provisions 6ereo[ and of said note, Mortgagor Mreby ~rsnts, eelb, warrants, aliens, remises, releases, - conveys, asdgrts, tranden, mortgages and seb over and confirms unto Mortgagee, all of Mortgagor's eNab,'ight, title and interest iq to and under all that certain real property situate-in St. Lucie County, Florida more particularly described as follows: G7 Lots 4 and 5 of Block 6 of RANAWHA PARR as per plat of said-- e subdivision on file in Plat Hook 3, -at page 6 of the Public a~ Records of St. Lucie County, Florida. 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SI. ~Wia Oa. ~ ~ r~~l ~ • tllj~~ifs~tt 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 articles of personal property and replacement thereof (other than those owned by lessees of said real property) now or hereafter atfi:ed to, attached to, placed upon, or used in any way in connection wiW the comph~te and comfortable use, occupancy, or operation of said real property, all' licenses and permib used or required in connection wiW the use of said real Property. all lessee 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 leases. and all rents, issues. proceeds, and profits accruing from said real property and together with s11 proceeds of the convention, voluntary or involuntary of any. of the foregoing into cash or liquidated claims, including without limitation, pra~eeds of insurance and rnndemnatioq awards (the foregoing said real property, tangible and intangible personal properly hereinafter referred 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 appertainin~G 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 thereof, with the appurtenances of Mortgagor in and to the same, and every part and parcel thereof unto Mortgagee. .Mortgagor warrants that it has a good and marketable title to an indefeasible tee estate in the Mortgaged Properly 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 exceptions herein provided. Mortgagor has toll power and lawful authority to mortgage the Mortgaged Property in the manner and form herein done or intended hereafter to be done. Mortgagor will preserve such title and wiU forever warrant f and defend the same to Mortgagee and will forever warrant and defend the validity and priority of the lien hereof against the claims of alt persons and parties whomsoever. i ~ Mortgagor will, at the cost of Mortgagor, and without expense to Mortgagee, do, execute, acknowledge and deliver all E and every such further acts, deeds, rnnveyances, mortgages, assignments, notices of assignment, transfers and assurances as Mortgagee shall from time to time require in order to preserve the priority of the lien of this Mortgage or to tacilitato the - performance of the terms hereof. ! PROVIDED, HOWEVER, that i( Mortgagor shall pay to Mortgagee the indebtedness in the principal sum of = 12 , OOO.OO as evidenced by that certain promissory note (she Note), of even date herewith, executed by ` 4 Mortgagor and payable to order of Mortgagee, with interest and upon the terms as provided therein, and together with all -f~, other sums advanced by Mortgagee to of on behalf of Mortgagor pursuant to the Note or this Mortgage, the final maturity date of the Note and this Mortgage being February 12,1989 ,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 fully here- in, and of any renewal, extension or modification, thereof and of this Mortgage, then this Mortgage and the estate hereby i created shall cease and terminate. Mortgagor further rnnvenanta and agrees with Mortgagee ae follows: ~ 1. To pay aU sums, including interest secured hereby when due, as provided for in the Note and any renewal, extension or modification thereof and iri this Mortgage, all wch sums to be payable in lawful money of the United States of America ~ at Mortgagee's aforesaid principal oitice, 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 assessed 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 Property. F 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, o[ a sum equal to one-twelfth of the yearly taxes and assessments which may be levied against the Mortgaged Property, and (if m required) one-twelfth of the yearly premiums for insurance `s thereon. The amount of such taxes, 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 ) i -1- • ~ ~ _ _ _ '