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HomeMy WebLinkAbout1987 4 X51'7 ~ ~ ' ' MORTGAGE DEED AND SECURITY AE~iEEMENT~- " TH13 MORTGAGE DEED (the Mortgage), dated as of 5 , 19~ , by and between Donald R. Kincaid and Dolores E. Kincaid, his wife (hereinafter called Mortgagor) and Sun Bank of St. Lucie COtulty ,having:?n otti~•eat 111 Orange Avenue, Fort Pierce ,Florida (hereinatlercalled Mortgagee): W1TNE33ETH, that in consideration of the premises and in order to secure the {ryment 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 oh• servance of all of the provisions hereof and of said note. Mortgagor hereby grants, sells, warrants, aliens, remises, releases, conveys, assigns, transfers, mortgages and sets over and confirms unto Mortgage all of Mortgagor s estate, right, title and interest in, to and under all that certain real property situatrin St. Ll1C1e County, Florida more {?articularly - described as follows: Lot 3, Block 1, HIBISCUS PARK, as per Plat thereof recorded in Plat Book 8, Page 11-r of the Public Records of St. Lucie County, Florida. _ _ - - _ _ _ _ Received • ~ ~ In Payment 01 Tsxes r! T ~ . ' F F' L_ ~ ~ ~ _ • i Oue On Class "C" Intangible Personal Property, ' i:'.) :::i fr1 E fv ~ A F ~ i t~ N~ i~ ' i • ' ~ Pu?suant T - _ _ . : _ _ . _ I o Chttptsr 71. 134. /1Cb Of 1971. n ~ ROGER POITRAS ~ r~i~ . • ~ _ - - " ` i t'1e.• Circuit Coup. St. Lucie. Co., Fla, TOGETHER WITH all improvements now or hereafter located on s:?id real pro{~erty and all fixtures, appliances, ap{u?ralus, 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 affixed to, attached to, {laced upon, or used in any way in connection with the complete and comfortable use, occupancy, or operation of said real property, :?11 li?rnses 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 leases, and all rents, issues, proceeds. and profits accruing from said real property and together with all proceeds o[ 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 pro{~erty, tangible and intangible personal property hereinafter referred to as the Mortgaged Property). Mortgagor hereby grants to Mortgagee a security interest in the foregoing described tangible and intangible {~ensonal property. TO HAVE AND TO HOLD the Mortgaged Pro{?erty, together with all and singular the tenements, hereditaments :?nd 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 thereof, with fhe appurtenances of Mortgagor in and to the same, and every {r.•?rt and {k~n•el thereof unto 2Ltortgagee. i Mortgagor warrants that it has a good and marketable title to an indefeasible fee estate in the Mortgaged Protrerty subject to no lien, charge or encumbrance except such as Mortgagee hay agreed to accept in writing and Mortgagor covenants that this Mortgage is and will remain a valid and enfonrable first mortgage on the Mortgaged Pro{?erty subject only to the ~ exceptions herein provided. Mortgagor h:?s full power and lawful authority to mortgage the Mortgaged Property in the manner and form herein done or intended hereafter to he done. Mortgagor will preserve such title and will forever w:?rr:?nt and defend the same to Mortgagee and will forever warrnnt and defend the validity and priority of the lien hereof against the claims of all {persons and p:?rties whomsoever. l 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, 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 facilitate the {~erformanc•e of the terms hereof- PROVIDF.D, HOWEVER, that if Mortgagor shall {k?y to Mortgagee the indebtedness in the principal sum of S 12 ~ 00~ • ~0 as evidenced by that certain promissory note Ithe Notel, of even date herewith, executed by Mortgagor and p:?yahle to order of Mortgagee, with interest and u{?on 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 d:?te of the Note and this Mortgage being March 6 , 1984 ,and shall perform all other covenants and ri conditions of the Note, all of the terms of which Note are incor{wrated herein by reference as though set forth fully here- in, and of any renewal, extension or modification, thereof and of thi.4 Mortgage, then this Mortgage and the estate hereby created shall cease and terminate. Mortgagor further convenants .?nd 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 .~r modification thereof and in this Mortgage, all such sums to be payable in lawful money of the United States of America - at Mortgagee's afores:?id principal office, or at such other place as Mortgagee may designate in writing. is `l. To {gay when due, and without requiring any notice from Mortgagee, all taxes, assessments of any type or nature E and other charges levied or aavessed against the Mortgaged Pro{?erty or this 1`lortgage and produce receipts therefor upon } demand. To immediate) and disclwr a an claim, lien or encumbrance a ainst the D1ort a ed Pro rt which ma be r; Y paY g Y g' g B Pe Y Y ~ or become superior to this Mortgage and to permit no default or delinquency on any other lien, encumbrance or charge b against the Mortgaged Property. 3. If required by Mortgageee•, to also make monthly deposits with Mortgagee, in anon-interest bearing account, to- gelher with and in addition to interest and princi{~al, of a sum equal to one-twelfth of the yearly taxes and assessments which may be levied against the Mortgaged Property, and (if so required) one-twelfth of the yearly premiums for insurance 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 -1 goo~3U4 ~A~E1985 _ -