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MORTGAGE DEED
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THIS MORTGAGE DEED made this day of ,1979, ~~v
between KRALHINKLE PHOTOGRAPHY GROUP, INC., a Flori a orporation
hereinafter referred to as "Mortgagor" and JOSEPH F. CORSO and MAE 7~ +
A. CORSO, HIS WIFE hereinafter referred to as "Mortgagee".
(Wherever used herein the terms "Mortgagor and Mortgagee" shall ~
include all the parties to this instrument and their heirs, legal ,
representatives and assigns; and the term "Note" includes all the I
notes herein described if more than one).
The Mortgagor hereby rlortgages to the Mortgagee its successors ~
and assigns land situated in the County of St.Lucie, State of I
Florida, together with all the improvements situated thereon and the ~
tenements, hereditaments and appurtenances incident thereto all
hereinafter collectively called the "Mortgaged Premises", and
legally described as:
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The North 40 feet of Lot 18 and all of Lot 17
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Block 10, and the West 10 feet of the vacated '
;~y ~ ! alley adjacent on the East, PINEWOOD according
to the Plat thereof as recorded in Plat Book
t--~_~;. 5, Page 24 of the Public Records of St.Lucie ~
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^=~•bp_'a County, Florida. ~
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=fir ~ ' LESS AND EXCEPT the West 7 feet thereof here- i
~ tofore conveyed to the State of Florida for
road right-of-way purposes,said right-of-way I
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_ conveyed and recorded in Deed Book 174,Page
333 of the Public Records of St.Lucie County, ~
" ~ = Florida.
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This Mortgage is given to secure a certain Purchase Money ~
Mortgage Note hereinafter called the "Note" of even date herewith ~
from the Mortgagor to the Mortgagee in the principal amounir of s
Ninety eight thousand one hundred two azld 76/100 ($98,102.76)Dollars.
And the iortgagor does hereby covenant and agree with the
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Aortgagee, while this Mortgage remains in force, as follows: ~ ~
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1. Mortgagor agrees to keep this Mortgaged Premises insured
for the benefit of Mortgagee, Mortgagor, and such other parties as
Mortgagor shall designate, against loss or damage by fire and with f
standard extended coverage as available from time to time in the 4
State of Florida for such amounts and with such deductibles as may I
F be reasonable. I
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2. Mortgagor agrees to pay all taxes and assessments and ~
water rates that may be levied or assessed after the date hereof i
upon or against the Mortgaged Premises on or before the last day
upon which such taxes and assessments may be paid without penalty;
and the Mortgagor shall have the right to elect to pay any such
assessments in installments, if available.
~ 3. If I~tortgagor shall fail to keep the Mortgaged Premises
insured as above provided or to pay the premiums thereon, or to pay
such real estate taxes and assessments, then Mortgagee, if it so
3 elects, may effect such insurance and pay the premiums thereon,
' and/or pay such delinquent taxes and assessments, and the amount so
paid shall be secured by this Mortgage and repaid with interest by ~
Mortgagor within 15 days after receipt by Mortgagor of written
invoice therefore from Mortgagee.
4. If any proceeds shall be payable under such insurance for
any damage to or destruction of the Mortgageed Premises or any part
thereof the Mortgagee shall have the right to elect whether the pro-
ceeds shall be distributed in one of the two following ways:
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/ Necei,red >f fn Payn?~nt Of TtaxN `
Due On Class "C" Intanp~la PNaonal Property.
• Pursuant To Chaptsr 71, 134, Acts OI 1071.
`r gOGk JU / °11CE 2786 ROGER POITRA$ ~
Cte•k Circuit Court, St. L.ucitr, CrO., ih. ~ j
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