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Home My WebLink About2185 • ~5~78 ~.s . i~ .a s MORTGAGE DEED AND SECURITY AGREEMENT ~ i~'9y August 15, 79 '1j ~ THI8 MORTGAGE DEED (the Mortgage). dated as of , 18 _ . by and between Margaret G. Schob, Joined by Nilliam J. Schob, her husband (hereinafter called Mortgagor) and Sun of St. LuC1e County ~ an office at 111 Orange AVe., Fort Pierce ,Florida (hereinafter called Mortgagee); WITNE88ETH, thrt in consideration of the premises and in order to secure the payment oI both the principal ot, and Interest and any other s}tms payable on the note (as hereinafter defined) or this Mortgage and the per[ormance and ob- t servance of aU of the provisions hereof and of said note, Mortgagor hereby grants, sells. warrants, aliens, remises, releases, conveys, assigns, transfers, mortgages and sets over and confirms unto Mortgagee, all of Mortgagors estate, right, title and iatsnst in, to and under all that certain real property situate in St. Lucie County, Florida more particularly described as follows: Lot No. 114-H, Section I, in that certain oondominiurt kngr~m as OtPPD00R RESORTS OF AMERICA AT NETTLES ISLAND, as shtytm by the plat recorded in Plat Book 16, pages 1, lA through 1J, of the Public Records of St. Lucie County, Florida. and - r Beginning at the Northeast corner of Lot 113 as shown on the Plat of Otrl'DOOR RESORTS OF AMSRTCA AT NS'1'PLSS ISLAND, St. Lucie County, Florida, recorded in Plat Book 16, page 1-C of St. Lucie County, Florida; thence run S 200 15' 11"~W a distance of 33.00 feels thence run S 15° 02' 37" W a distance of 32.65 feet to a_point.in the South line of Lot 113; thence rtin S 790 30' 51" E along the South line of Lot 113 a distance of 3.00 f~~eeBtgto th{e,,S~o~uthe~ast corner of Lost 113; thgen fce run~N}~150po0;2,', 37"Egalong , "ti7GI.TFiEIt-WITH" allimPtnvletnentad no~o~ lier°eaf tt65to2ca-ted o~ii said rea~T~rbpe~fy and~ali~i ~a~j~liances, . apparatus. equipment, heating and air conditioning equipment, machinery and articles of personal property and replacement thereof (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 rnnnection with the use of said real property, all leases of said real property now or herea[ter entered into and all right. title and interest of Mortgagor thereunder, including without limitation, cash or securi- ties deposited Wereurder pursuant to said leases, and all rents, issues, proceeds and profile accruing from said real property and together with all proceeds o[ the convention, voluntary or involuntary of any of the foregoing into cash or liquidated claims, including without limitation, pra~eeds 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 Property, together with all and singular the tenements, hereditaments and appurtenances thereunto belonging or in anywise appertaining and the reversion and reversions thereof and all the estate, right, title, interest, homestead, dower and right of dower, separate estate, possession, claim and demand whatsoever, as well in law as in equity, of Mortgagor and unto the same, and every part thereof, with the appurtenances of Mortgagor 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 1 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 a valid and enforceable first mortgage on the Mortgaged Property subject only to the f exceptions herein provided. Mortgagor has full power and lawful authority to mortgage the Mortgaged Property in the ~ manner and Corm herein done or intended hereafter to be done. Mortgagor will preserve such title and will forever warrant i and defend the same to Mortgagee and will forever warrnnt and defend the validity and priority of the lien hereof against the claims of aU persons and parties whomsoever. Mortgagor will, at the cast of Mortgagor, and without expense to Mortgagee, do, execute, acknowledge and deliver all E 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 ) 5 7.49'4.98 as evidenced by .that certain promissory note (the Note), of even date herewith, executed by Mortgagor and payable to order of Mortgagee, with interest and upon the terms as provided therein, and together with al! other sums advanced by Mortgagee to or on behalf of Mortgagor pursuant to the Note or this Mortgage, the final maturity C date of the Note and this Mortgage being ALtcf. 14• 1986 ,and shall perform all other covenants and conditions of the Note, all ot- the terms of which Note are incorporated herein by reference as though set forth fully here- I in, and of any renewal, eztension or modification, thereof and of this Mortgage, then this Mortgage and the estate hereby t created shall cease and terminate. ~ Mortgagor [urther 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 4 or modification thereat 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 taxes, assessments of any type or nature i and 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 alto make monthly deposits with Mortgagee, in anon-interest beating account, to- gather with and in addition to interest and principal, of a sum equal to one-twelfth of the yearly taxes and asseasmenta which may be levied against the Mortgaged Property, and (it so required) one-twelfth of the yearly premiums for insurance g~ thereon The amount of such taxes, assessments and premiums, when unknown, shall be estimated by Mortgagee. Such 4 deposits shall be used by Mortgagee to pay ouch to:es, assessments and premiums when due. Any insufficiency o[ such REC[IY[D f ~ ~ IN PAYMENT OF TAXES i y/ -1• aYf ON CU?S= 'C' hITAMQ'Elf P~ASOJtLt P~PfA~r l 1 ~ 3':y;K~~~ f`1f;t~~,~ WhiYARt i0 H1PR~GEA.PGITRAtS at 1871. CUAK CAl18I, iL 1111Ct !k E