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HomeMy WebLinkAbout0732 ~ :~~y~7 ~ . MORTGAGE DEED AND SECURITY AGREEMENT THiS MOR'['GAGE DEED (the Mortgatce), dated as ot ~rch 30 , 19 by und between DONALD S. JACOBSON and MARILEB I. JAQOBSON, hi$ wife Ihereina[ter caUed Aloetga~or) and SUN HANK OF ST. LUCIS COUNTY , having an ottice at 111 Oranqe Avenue, Ft. Pierce - . Florida (hereinutter cuiled Mortgagee): WITNES3ETH. that in conaidemtion ot the premises and in order to secure 1be payment ot both the principal ot, and interest and any other suma payable on tha note (as hereinatter detined) or this Mortsa~e a~d the pedormance and ob- servance of all of the provisiona hereot and oi aaid note, Mortaaaor hereby 6raota, sells, warrants, aliens, remisee, releases, conveys, aasigns, tranaters. mortsagea and sets over and continas unto Mortsasee, all of Mortgagor s eatate, riRht, title and intereat in, to and under all that certain ?eal properiy situate in St. LuCie Couoty, Florida more particularly des~ ribed as (ollowa: Lot l, Block 1, of BAYSHORE ESTATES, according to the Plat thereof recorded in Plat Book 11, at Page 40 of the Public Records of St. Lucie County. Florida. ~ =,T!` - i_ r I RE'~Epi o. ae , ~ , _ - • ~ - ; D11E pN CUU •C• txTA.ys' ~ M~ ~ ~i ; " . < < : ~ ~ ` ~ f 1125@MT TO i BLE PERSpJlA~ M~OP • - ' * , .s ~ 1(:.?T: 2 11•;~4. AC)S pF ERN' , . . - - . . . . : 5. ~ { (X=ql( p.itfkT C~tiFi,45i. W:~ ~ - - - • - - - - ~ ~ 'I'O('E'THER WITH all impm~•emenla now or hereatter located on s.~id real property and all ti:ture~, appliance., apparatus, equipment, heating and air conditioning equipment, machinery and articles ot personal property and replacement thereo( (other than those owned by leasees of said real property) now or hereatter a(ti:ed to, attached to, placed upon, or used in any way in connection with the complete and comfortable use, occupancy, or operntion ot said real pro{~erty, :~II licenses and permits used or required in connection with the use of said real property, all leaaes of said real property now or hereafter entered into and all right, tille and interest o( Mortgagor thereunder, includinR without timitation, cash or securi- ties deposited thereunder pursuant to said leases, and all rents, issues, proceeda and profits accruing from said real prupert} and together with aU proceeds ot the com•ersion, voluntary or in~•oluntary o[ any of the toregoing into cash or liquidated claims, including without limitation, proceeds ot insurance and condemm~tion aw•ards (the foregoing said real jsevperty. tangible and intangiMe personal pmperty hemin~fter reterred to aa the Mortgaged Property). A1orlRagor hereby Rrants to Mortgagee a security interest in the (oregoinR described ts~ngible and intangible personal property. TO HAVE AND TO HOLD the MoKg.~ged Yropert~~, together w-ith al) and sinRular ihe tenements, hereditamenis and aippurtenances thereunto 1?elonginR or in anywise a~~~~ertainin~ and the ~•ersion and reversions thereof and aU the estate, right, title, interest, homestead, dower and right ot dower, separate estate: poeseasion, claim and demand whatsoever, as well in law as in equity, of Morfgagor and unto the s~me, .~nd every part thereof, with the appurtenances o( 1liortRaQor in and to the same, and every ~tt and ~~arcel thereof unto MortgaRee. Mortgagor warrants that it has a good and rtwrketable tille to an indete:isible tee est:~te in the ~1ortR:~R~~ci I'm{~erty subject to no lien, charge or encumbrance except such as ilto~tRagee h;is agreed to an~ept in writing and ~1ortRaRor co~ enants that this 141ortgage is and will remain a~•:~lid and entomeable first murtgaRe on the ~1ortRaRed Property subject only to the eYCeptiona herein provided. Mortgagor has full Ex~wer and lawlul :iuthority to mortgage the Mortgaged Pro{~erty in the '4 manner and torm hernin done or intended hereafter to i?e done. Mortgagor v~rill preserve auch title and will fore~•er,warr~nt and de(end the same to Mortgagee and will forever warr.int and defend the validit~ and priority o( the lien here~t aRaiinst the claims ot all persons and ~k~rties v?~homsoever. ~ 11lortgagor will, at the cost of Moctgagor, and without expense io I~tortg:~gee, do, execute, acknowledAe and deliver all f :~nd every surh further acts, deeds, conveyances, moriRaRes, :issignme~ts, notices o( assiRnment, trans(ers and assur.~n~es ac ~ MortgaRee shaU from time to time require in order to presen•e the priority of the lien af this I?1ortQ:+Re or to taciliG~te the ~ periormance of the terms hereoL ~ PROVIDED, HOWE'?ER, that if 111ortg:iRor shall ~~:~y to AtortRaRee the indebtedness in the princ~ipa) sum ol ~ S us evidenced by th~t certain promi~sory note Ithe Notel, of e~•en datc herev?•ifh. Pxec•uted h~ ~ Alortgagor and payable to order of MortgaRee, with interest and u{wn the terms as pro~•ided therein_ and toRether with all ~ other sums advanced by Mortgxgee to or o~ behalt of I11ortRa~or pursuant to the Note or this MortRage, the tinal maturih- g date of the Note and this 1~'lortgage being ~rch 30. 1980 , and shall pertorm all other cm-en:~nts and ~ conditions ot the Note, all ot ihe term.~ o[ which Note are ~nc-or~~orated herein by reterence as thouRh set (orth (ully here- - in, and of any renewal, extension or m«fi(i~ation, there~n( :~~d of this \tortRaRe, then this ~ltortRaRe and the estate herehy ~ c•re~ted shal) cease and terminate. g hlortg:~gor turther convenants and ugrees with MortR.~gee aa tollows: ~ ~ 1. To pay all sums, including interest se~•ured hereby when due, :is pru~~ided (or in the Note and any renew•al, exteosiun or modi(ication thereof and in this 114ortRaRe, all. such sums to he p:i~•ahle in lavrtul money of the Unitecf Stat~s ~f Amerii•a , ~t Mortqagee's aforesaid principal o((ice, or at sui•h other place MorlRaRee ma>• desi~nate in N~ritinR. ~ 2. To pay when due, and withoat requiring any notice trom 111ortgagee, all taxes, assessments ot any tyE~e or nature ~ and other charges le~•ied or assessf~d against the biortgaged Property or this Dtortgage and produce receipts themfor u{~on ~ demand. To immediately ~wy and discharge uny claim, lien or encumbrance against the 1ltortgaged Pro~~erty w•hich may tx or become superior to this MortgaRe and to {~ermit no default or delinquenry on aoy other lien, encumbran~•e or charge ~ :?Rainvt the Mortgaged Pro~~erty. ~ 3. If required by 111ortqagee. to also make monthly deNos~ts with Alortgagee, in a non-interest bearing a~•count, to- ~ gether with and in addition to interest and principal, o( a sum equal to one-twelfth of the yearly G~:es and assessments which may be levied agaiast the Mortgaged Property, and li( so requiredl one•tw~eltth of the yearly premiums !or insurance ~ thereon. The amount of such taxes, assessments and premiuma, when unknow-n, shall be es~imaeed by htonRa~ee. Su~h ~ deposits shall be used by 111ortgagee to pay such taxes, assessments and premiuma w•hen due. Any insut(iciency o( such a ~ ~ J'~y `JV~~ • : ¦ ~.L ~ - • , ~ . _ . . _ - ; , .