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HomeMy WebLinkAbout2292 43671.6 ~3' XJ•~,~J3o ~ l) MORTGAGE DEED AND SECURITY AGREEMENT -aK~• ~ THIS MORTGAGE DEED (the Mortgage), dated as of March 8 1822 , by and between Henry Glover (hereinafter called Mortgagor) and Sun Bank Of St. Lucie County ,having an ot[ice at 111 Orange Avenue, Ft. Pierce, ,Florida (hereinafter called Mortgagee) ; WITNE33ETH, that 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, aeelts, warrants, aliens, remises, releases, conveys, assigns. transfers, mortgages and sets over and confirms unto Mortgagee, all of Mortgagor's estate, right, title and interest in, to and under all that certain real property situate in e~ ~r.,..;e County, Florida more particularly described as follows: Lots 3, 4 and 5, Block l8, Sunland Gardens, according to the plat thereof, as recorded in Plat Book 8, Paqe 32, of the Public Records of St. Lucie County, Florida. 3,p . > ' ~ -~~~E ;V ~ ~ = Re~slved • ' ~ In PayrttKtt Of Tatas _ _ . = r~ 7 ~ - . J ~ - , . ~ .J . ` , - ~ Oue On Chu:t "C" lntanytbh Pr?rsotil Property. , pu•suent To Chapbr 71, 194. At.~ts Qt 1971, - . ~ Rocs PaTw~s 9~~ • . - . - _ - - - ~ ("ier~ CI?Ctllt Court, S1. it1C~ Ca, Flrt. 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 thereo[ (other than those owned by lessees of said real property) now or hereafter affixed to, attached to, placed upon, or used in any way in connection"with the complete and comfortable 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 hereaiter 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 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 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 Prolrerty, together with all and singular the tenements, hereditaments and appurtenances thereunto belonging or in anywise aplrertaining and the reversion and reversions thereof and all the estate, right, title, interest, homestead, dower and right of dower, separite estate, possession, claim and demand whatsoever, as well in law as in equity, of Mortgagor :rnd unto the same, and every part thereof, with the appurtenances of Tiortg:rgor 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 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 :s 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 Prot~erty in the _ manner and form 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 warrant 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 ezpense to Mortgagee, do, ezecute, acknowledge :rnd deliver :ill 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 performance of the terms hereof- PROVIDED HOWEVER, that if Mortgagor shall pay to Mortgagee the indebtedness in the principal sum of E 2,140.8 as evidenced by that certain promissory note (the Note), of even date herewith, ezeculed 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 1liortgagee to or on behalf of Mort~ggQr pursuant to the Note or this Mortgage, the final maturity date of the Note and this Mortgage being March 1, 1 lliilt ,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, :ind of any renewal, extension or modification, thereof and of this Mortgage, then this Mortgage and the estate hereby created shall cease and terminate. i 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 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 fazes, assessments of any type or nature :end 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_ 3. It required by Mortgagee, to also make monthly deposits with Mortgagee, in anon-interest bearing account, to- ~ gether with rind in addition to interest and principal, of a sum equal to one-twelfth of the yearly fazes and assessments which ~ may be levied against the Mortgaged Property, and (i( so required) one-twelfth of the yearly premiums for insurance ~ ~ thereon. The amount of such fazes, assessments and premiums, when unknown, shall be estimated by Mortgagee. Such ~i det~osits shall be used by Mortgagee to pay such taxes, assessments and premiums when due. Any insufficiency of such : -1- i 50~K j~ ' .