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Home My WebLink About0204 , ~5n:3y1 ~ ~ ov 1" ~ 'l. - ~e MORTGAGE DEED AND SECURITY AGREEMENT THIS MORTGAGS DEED (the Mottgage), dated us ot June L~, 19 hy and between LAKE PARK PROPERTIES, INC., a Florida corporat~on, (hereinaftrr callecf MoNRagor) aod SUN BANK OF ST. LUCIE COUNTY , hnving un otticeut 111 Orange Avenue, Fort Pieree . Florida (hereinnftere+~lled Morlg~gee); WITNESSETH. that in considerntion ot the premisea Bnd in order to secure !he payment of hoth the principal ot, and interest and any othar suma payable on the note las hereina(ter deti~ed) or this MortRage and the performance and ob- senrance ot all ot the proviaions hereot and o( aaid note. MortaeRor hereby srants, sells, warranta, aliens, remiees, relea~ee, conveys. aari~ns. transters. mortsages and sets over and con~irnu unto Mortgagee, nll of Mortgagor s estata, riRht, title nnd intereat in, to aod under all ihat certain rnnl property eituute in St. Lueie County, Floridu more {x~rlicul:~rly deacribed as tollows: Lot 1, Block S, AIRPORT INDUSTRIAL PARK, Unit 1, as per Plat fihereof on file in Plat Book 12 at Page 40, Public Records of St. Lucie County, Florida :~TA~''E -~c- FL~R~t_;" ~ UU~UMENTQRY .a-:..:.. SI<,MF' 't, , , R~~~ ;I, QD ~~~OITM~ i~Eni. GF kEYENUf " .7 = _ rt ~~.,~h. _ -a•~y ~ ~ : ~,'`i~ _ 6~ 7 5 0 j ow'o~ ci... ~ ~M~.'~«~ ~+r~ i - PB, > . ! Pursuant To cn..~.r r. ~s~ a ~t~. v ~ - _ ~ ~onMS ~r~ ClKlc Cbeuk Coa~ ~t. LA~d~ Ce~. ~t~. T(KiETHEH WITH all imprv~~emenfs now or hereafter locatec! on s:~id re:~l pro~~erty and i~U tixturcw, applian~•e~, ap{u~ratus, equipment, heating nnd air conditioninR equipment, m~rhinery and .irti~~les ot ~~eraonal pmperty .~nd replacement . themot (other than those owned by lessees of w~id rn~l pro~~erfy) now or hematter sif(ixecf to, attached to, plnrec! u~x~n, or useci in ~ny way in connection with the complete ~nd comfortable use, occu~H~ncy, or o~~erntion of said renl pmperty, :~ll lirnnaes and permits used or requirnd in conn~-tion with the use of s:~id real pm~~erty, nll leases o( snid renl ~iroperty now or h~n~a(ter entered into and iill right, title and interrst o( Mortgs~gor thereunder, includinR without limitation, cash or ~vri- ties de~sited thereunder pursuant to said leases, :~nd all rents. issues, pnx~eeds, and profits accruing irnm s:iid re:il pro~x~rly and together with all proceeds of the irom~ersion, ~~oluntAry or im~oluntary ot any o( the toregoing into cash or liyuidatec! ctaims, including without limitation, pr«reci.4 of insur.~m•e :~nd rondcmnation :iR'7i(IS (lhe toregoinR s:iid mal property, f:angible ~nd intanR~hle ~~ersonal pro~~erty hemina(ter re(errc~cl to .~s the hlortR:~ged Pro~?ertyl. MoNRagor hereby Kr.~nt, to Mortgagee a~•urity interrst in the (om~CoinR desa•rilxYl tanRible and intanRible persunal property. '1`n HAVE AND HOI,D the Mortg.~ReYI Pro~~erty, I~f~ther ~+~it~ all :~nd sinRular the tenements, hereditaments and - appurtenanres thereunto helonRinR or in anywise ~p~~ertaininR and the re~•ension and re~•ersions thereof and nll the estate, riRht, title, interest. homeste:~d, dow•er and riRht of do..er, se{~.-~rnte e4tate, possessic,n, claim ~nd demand what!u,ever, wpll in IAW A9 Itl equity. of Mort~a}COr and unto the st~me. :~nd even• part thprc~f, with th~ :ippurten:~n~rs of MortRaRor in :~nd 1o the c.-~me, and every ~iart and ~~:iri~el thPrro( unto I~iortK:iRcr. '.Nort~aRor w~arrant!c thaf if has a Qood and m:irkctabl~ tiU~ to :in incl~•(t~:~sible t~r ~~st:rie in the M~,riKaKc~1 f'ro~~•rty subject to no lien, chnrge or encumhruner except such as Atorl~;a~i~c• h:is :~Kreecl t~? ai•i•ept in writing and MortRaRor ~•o~~en:ints ~ th:~t th~s MortqaRe is nnd N•i11 remain ~~•:~lid and enforce:ihle first mortKaRc~ on the hlortQ:~Qec1 Pro~~erty subjei•t only to the ~ exc~eptions here~n prov~ded. MortRaRor has tull {wwer .ind la~~•ful uuthorily to mort~age the MortR~~ec1 Pro~~erty in th~ E manner and form heresn done or intended hereafter to be done. MortR:~Ror w•ill presen•e such tiUe :~nd will forever ws~rr.~nt f and de(end the same to MortAagee and will forn~•er Mnrr.~nt and defend the validity sind priority of the lien hercr~f aR:+insf ~ th~ claime ot all persnns and ~?arties w~homsoe.•er. ~ Mort{tagor will, at the cos! of Mortgagor, and without ex~?ense• to ;11ort~agee, do, eacecute, ac•knowledRe ~nd deliver all ~ and every such turther acts, deeds, conveyances, morlR:iR~s, :?uaiRnment~. notic•e4 nf as~ciKnmenf, trans(ers and a~.gur.~nces as ~ Mortga~ce shall (mm time to time rnquirn ~n order to ~?reQenF the priority o( the lien of this l4lort~.~Re or to (ac•ilitatP the ~ ~~eriormance of the terms hereof. PR 'I E HOR'F.VER, that i( Atort~:~R~r shall to ;11urt~:i~.~ thf~ indehtedness in the prinri~hil sum of = 45 ~ ~ ;~g p~~denced by th:~t certain promic.con• note Ithe Note~, ot evPn dat~~ herewith, exervted t:~~ '~1ortRaRor and {~ayable fo order ot MortRagre, with intemst :md uE:on the terms as pm~•ided therein, and toRether ~~ith all other sums ad~•anc•ed by IliortgaRcr to or on hehalf o( I?1ort~aRor punuant to the Note or this MortR:~Re, the final maturity datP the IVote and this':1lortgaQe heinR Tul ~ 1~ 1 994 , and shatl }~erform all other c•o~~enants and ~onditions of the Note, all of the term.a of a•hi~~h Note are incorporated hPrein by re(erence as though set torih fully here- ~ in. nnd of any renew•al, extension nr mocii(i~ati~n, therc~( and of this \1ort~aKe. th~n this 14tortgage and the estate her~by ~•mat~d shall c~ease and term~nate. ~ Mort~agor turther ~•nm•enants and aRrees w~th lliort~aRee as (ollowa: ~ 1. To all sums, inc•IudinR interest sec•ured herrt~y when due, as pro~~ided (or in the Note and any renew~al, extension nr mocl~tic~tion thereof and in this \'Iort~aRe, al) such s~ms to t~e payable in law(ul money of the United States of Amc~ri~•a ° at MortRa~Cee~s a(oresaid principal offi~r, or at auch other place as'~1~rtKaKee ma~• desiQnate in writinR. ~ ~ ~ 2. To ~w}• vvhen due, and a•ithout rrquinng uny notice (rom :1lortgagee, all taxes, assessments of :~ny ty~~e or naturc~ ~ and other c•harges le~~ic~c! or asses.~~d against the Aturtgaged Pro~~erty ur this ;~tortgage and produce mcei~~ts there(or u~wn ~ demand. To immediately pay and disc•harge any cl:~~m, lien or encumbr~nre :~gainst the Alnrtgaged Pro~~erty v?•hich tnay tK or F~ec-ome superior to this Riortgage and to permit no de(ault ot delinquenry on any ~ther lien, encumbr.ini•e or charge s ~ :~R:~tnst the ~lortgaRed Pmj?erty. - ~ ~ 3. If reyuired by A'luri~~ga~r, to also make munthh~ de~wsits Ni'h :ltortg:~gee, in a non-intrrest Irearing arcount, to- i Kelher w~th and in additiun to ~ntrrest and principal, ut a sum equal to onr-Iwelith ot the yr~rly ta:es and aaa~•s.Kmt•nle which may t~ le~ied ag~inst the ~1ortg~grd Yroperty, ~nd I~t su reyuired) one-twel(th o( the yrarly ~~remtwne (or insurance ~ thereon. The :~mount o( such taxee, as~x~cnrnte ~nd premiums, when unkru~wn, ehall t~e e»limated by MorlRagee. Sui•h de~x~s~ts shall t,e uscd by 11ortRaRe~ to {~vy auch tax~, aatirar;ments ~nd prem~ume when due. Any insulticien~y ot such ~ -1- ~ . g~~RK 31~ ~A~: 244 _ _ _ _ _ _ . . _ ~ _ _.~.x~..~