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Home My WebLink About0506 ~ 448888 / MORTGAGE DEED AND SECURITY AGREE~I~IENT THIS MOR'1'GAGE DEED (the MortB+iBe), dated aa o[ Jutie 21 , 19 by und betw~,~n ALBERT MERKLE and CLEORA H. MERKLE. as i.enants in com~on. (hereinatter called Mortttngor) and S[JN BANK OF ST . LUCIE COl1NTY , havinR an ~rr~~ ac 111 Orange Avenue , Fort Pierce . Florida (herein+~fter calied Mortgi~gee); W1TNE9SETH; tbat in considere~tion of the premiaes and in order to secure the payment of both the principal ot, and interest and any other sums payable on the ~ote (aa hereinatter defined) or this Mortgage and the per(ormance and oh- aerva~ce ot all ot the proviaions hereot and ot eaid note. Mortgngor hereby granta, sells, warra~ta, aliens, remisea, rele:sses, conveys, assigns, trans(ers, mortgagee and aeta over and rnn(irma unto Mortga ee, all of Mortgagor's eetate, riRht, title and interest in. to and under all that ce_rtain ceal property situate in St . I+L1C ~e County, Florida mure ~~articul:irly deacribed as tollows: Lots 5, 6, 7, 8, 9, 10, 24A, 25, 25A, 26 and 26A of Block 30, ~~s`~S~ Pinew~ood Subdivision, as in Plat Book 5, page 24, Public Records ~ of St. Lucie County, Florida. ~ ' . ~ Together with all the right~ title and interest of the mortgagors in and to that certain vacated 20' alley which is delineated upon the Plat of said Pinewood Subdivision as running North and South through said Block 30. Excepting therefrom, all easements for public roads, which comprises the West 7' of the above described parcel of land, which is included in the right-of-way for U.S. No. 1. - l TO('ETHER W1TH all improvements now or herea(ter tocated on s:~id re.il pro~~erty and .iU tixtures, :~ppliance., apEHUatus, equipment, heating and nir conditioning equipment, machinery ~nd articles o( ~>ersonal property and mplaceme~t thereof (other than those owned by les.qees of s~id real properfy) now or hematter a(tixed to, :?ttached to, placed upon, or used in any way in connection with the complete and comiortvble use, occupancy, or o{>eration o( said real property, :~11 licenses and permita ueed or requirecl in connection with the use of said real pro~~erty, all leases of said mal property now or hereatter entered into and all right, title and interest of Mortgs~gor thereunder, inc•IudinR without limit~tion, eash or se~•uri- ties de{wsited thereunder pursuant to said leases, and atl rents, issues, pro~-eeds, and Nrotits accruing [rom said rex! pro{?erly and together with all proceecls of the conversiun, ~•uluntary or involuntary ot any ot the foregoinq into cush or liquidatEYl claims, including v~ithout limitution, proceeds of insurance and condemnation awards Ithe fornRoinQ said mal pro{~ert~, tangihle and int~ng~ble personal pm~~erty hereinafter reLerred to as the Morfgagtd Yro{~erty). MortRagor hemby Rran~s fo Mortgagee a scrurity interest in the toreRoing dPS~~ribecl tangible and intanFible ~x~rson:~l property. '1'n HAVE AND TO HOLD the MortgaRed Pro~~erty, logrther with al) a~d singular the tenements, hereclitaments and appurtenances thereunto helonging or in anywise ap~?ertaining and the reversion and reversions thereot and all the estatP, i riRht, litle, interest, homeste~d, dower and right o( dower, sep:~r.~le estate, ~wsse~ion, claim ~nd demand what~c~•er, a~ ~ K•ell in law .~s in equity, of Mortgagor and unto the s:~me, and every {~art thereof, with the appurtenancex o( MortRaRor in i :md to the s:ime, and e~~ery p:~rt and parml thereof unto Aiort~;aQee. ; Mortgagor warr.ints tFwt it has a gixHl and market.ible title to :~n indc~feasible (er est:de in the ~1urtRaK~~1 F'ro~K•rty subjec•t to no lien, charge or encumbramr except such as MortgaRee h.~s aRrec~l to ~iccept in writing and 1VIortRaRor co~en:~nts that this MortgaRe is and will remain a valid and enfomeable first morlg:~Re on the MortgaRed Pro~~erty subject only to the ex~•eptions herein provided. Mortg~Ror h:+s full ~~ov~•er and law(ul :~uthority to morlgaRc the MortQaqecl Pm~~crty in the ~ manner ~nd torm herein done or intended hereafter to l~e done. Mortg:iRor will ~~reserve such title and will (orever warrant g :~nd defend the same to 1~1ortgagee and will torever w:~rrant and defend lhe ~:~lidity and priority ot lhe lien herer~f :~Q:~insl ~ ihe ~•laims ot all ~~ersons and parties whomsoecer. MortRaqor will, at the coat of Mortgnqor, and without ex~xnse to 111ortRaRee, do, execute, acknowledQe and deliver all ~ and e~•er~ such further acta, deeds, conveyances, mortR:~KPS, aASiRnments, noticE~ o( a~iRnment, transfers and axcuran~•es as MortgaRee shall from time to time rpquire in order to prew~n•e the priority o( the lien of this Mort~aRe or to tncilitate the performnnce of the terma hereof. ~ PROVIDI~;D HOWEVER, that it MortgaRor shall ~?:~y to MortR:~Ke~• tht~ indehtedness in the ~~rin~•ipal sum o( 175 ooo.b0 ~ 3 ~ as e~~iden~•ed by thut cerl:~in pr~~mi~sorv notE• (th~~ Notel, of e~•rn dati~ herrK~ith. ~xe~•~t~•d h~• ~ A1orlRuRor :+nd ~u~yable to order of 1~lortqaRee, with interc•st and u~x~n the terms as prtin•ided therein, and toRether with all ~ other suma :~dcanced hy 1~1or1R~eRee to or on F?eh:~lf oi r1ortR:~Kor punuanf to !he Note or this MortRa~e, the finat maturit~ ~ d:~te o( the Note and this Mortgs~qe t?einR Jt1lle 21 , A_ D_ 19g 9 , and shall ~~er(orm all other covenants and ~~onditions o( the Note, all o( the terms uf x~hich Note are incor~wratrcl herein by reference as thouRh set (orth fully here- ~ in, and of any renewal, extensiun or m~iifi~afion, ~FIPfEY)( :~nd of this 11ortQa~;e, then this MortRaQe and the estate h~•reby ~•reattrd 4ha11 ce~se and tenninate. ~ . ; ' ~lortgaRor (urther c•onven:~nts and aRrees wifh Mort~aQee as (ollnwc: ~ ~ To µ~y :~II sums, including interest se~vred 6erehy when due, as provided (or in the ~Vote and any renewal, exlenvion ~ ur modifi.ation thereo( and in this MortR:i({(, :lII such sums to he payahle in law~lul money o( the Unitec) St:~te~K o( Ameri~-:i ~ at MortRaRee's afore~nid princi{h~l office, ur at surh other place as ~11or1Qa{;re m:~y desiRnat~ in writinR. ~ . , ~ 2. To ~hiy w•hen due, .~nd without requiring any notice (rom Mortq.~gee, :dl t:+xes, assesaments ot any ty~K• or n:~tun• ~ :+nd other chargea lecied or asses.ged against the Mortgaged Property or this 1Nort~age and produ~•e receipls there(or u~~on ; demand. To immediately ~wy and discharqe any claim, lien or encumbran~~e against the Mortgaged Property which may be or t?ecnme superior to this MortgaRe and to ~~ermit no default c~r delinquem•y on any other lien, encumbrunce or ch:ir~tt• s :~Kainst the MortgaRrd Pro~~erly. ~ ~ 3. If required by MortRaKec~, to also make monthly de~~osits with hiortRaRee, in a non-interest bearing accuunt, to- ~ Kether wilh and in addition to interest and princi~~al, of a sum equal to one-twel(th of the ,yearly tazes and asaessmenta which may t~e levied against ihe Mortgaged Property, and li( so required) one•twelfth of the yearly premiuma tor insur.~nre thereon. The amount of such tsizes, assessmenta and premiums, when unknown, ahall be estimated by Mortbugee. Such de~wsits shall be used by MortRaRee to pay auch taxes, as,se~menta and premiurtu when due. Any insufticiency ot such ~ ~...+r.~ • a a° wwr~ aT.~. ~ p - Dw On dMS'~C" i~~~ Mw~1 ; :~.~3~~ ~~~r ~05 ~~Te~.,~.r.~~~. ~ ~~9 ~