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Home My WebLink About0487 463t~3`7 ~'~0•~~• 1~ ~ • ~ ; . t + MORTGAGE DEED AND SECURITY AGREEMENT THIS MORTGAGE DEED (the Mortgage), dated as of October 12 ~ 1979 , by and l+etween i Charles L. Wyche { (hereinafter called Aortgagor) and Sun Bank of St. Lucie County ,having un office at 111 Orange Avenue, Ft. Pierce, ,Florida (hereinafter culled Mortgagee): t WITNESSETH, that in cot+sider.+tion of the premises and in order to secure the {x+yment of both the princi{x+1 of, and ? interest and any other sums payable on the note 1:+s hereinafter defined) or this Mortgage and the {rerformance and ob- servance of all of t,F1~~.rQV_)igjona hereof and of said note, Mortgagor hereby grants, sells, warrants, aliens, remises, releases, conveys, assigns, transfers, mortgagee and seta over and confirms unto Mortgagee, all of Mortgagor's estate, right, title and interest in, to and under all that certain real pro{erty situate in St • LUCle County, Florida more {x+rticularly described as follovva: Lot 1, less-the North 10 feet thereof, Block 45, Sunland Gardens Section Four, according to the plat thereof as recorded in Plat Book 10, Page _ 76, of the Public Records of St. Lucie County, Florida. r Received ti 7~ Dtre p„ in Peymat~: nl T;,. Ctaac ••C.. ru~^a(bN P ~ / Pursuant to Chapter 71. ~ e+aonaf Prows+~• ~ ~4 Of 171. c 9 ' ~ S Cterl{ Cirgr RO`~ ~ k ~~t ~t 1,1~ ~ Aa v~ TOGETHER WITH all improvements now or hereafter lcx•atrd on s:+id real property and all fixtures, applianc-rs• ap{x+ratus, equipment, heating and air conditioning equipment, machinery and articles of {rersonal property and replacement thereof (other than those owned by lessees of said real pro{erty) now or hereafter affixed to, attached to, placed a{wn, or used in any way in rnnnec•tion with the complete and comfortable use, occ•u{+:+ncy, or o{reration of said real pro{rerty, :+ll licenses and permits used or required in connection with the use of s:+id real pm{rerty, all leases of s:+id real property now or hereafter entered into and ull right, title and interest of Mortgagor thereunder, including without limitation, cash or securi- ties deposited thereunder pursuant to .:+id leases, and all rents, issues, proc•erds, and profits accruing from said real property and together with ull proceeds of the conversim+, voluntary or inaroluntary of any of the fomgoing into cash or liquidated claims, including without limitation, proceeds of insurance and condemnation awards (the foregoing s:+id real pro{x•rty, tangible and intangible {?ersonal pm{x•rty hereinafter referred to as the 1~lorigagcd Yro{,erty1. Mortgagor hereby grants to Mortgagee a security interest in the (ongoing descritxc1 tangible and intangible {,rrsonal property. TO HAVE AND TO HOLD the Mortgaged Protrerty, together with all and singular the tenements, hereditaments :end appurtenances thereunto belonging or in anyH'ise ap{,ertaining and the reversion and reversions thereof and all the estate, right, title, interest, homestead, dower and right of dower, se{>i+r.+tr estate, possession, claim and demand whatsoever, as well in law as in equity, of Mortgagor :+nd unto the s:+mc•, and every part thereof, w•ilh the appurtenances of Alortgagor in f and to the s:+me, and every part and t?:+n•rl thereof unto Atortg:+gee•. Mortgagor warrnts that it has a K+x:d and m:+rketable title to an indefeasible fee estate in thc• ~tortgagcd ProtMrty ,object to no lien, charge or encumbrance except such as Mortt;ager has agn•ed to accept in writing and Mortgagor coce•nants that this Mortgage is and will remain a valid and enfon•eable first mortgage on the Mortgaged Yro{rerty subject only to the exceptions herein provided. Mortgagor has full {,ower and lawful authority to mortgage the Mortgaged Prol,erty in the t m:u+ner and form herein done or intended hereafter to t,e done. Mortgagor will preserve such title and will forever w;+rrrnt and defend the same to 111ortg:rgee and will forever warr:mt and defend the validity and priority of the lien hereof against ' the r•laims of all {+erw,ns and parties aa•hom.c+ea•er. . Mortgagor will, at the cost of Mortgagor, and without ex{,rose to Mortgagee, do, execute, acknowledge and deliver all and ea•ery such further acts, duds, conveyances. mortgages, assignments, notices of assignment, transfers and assurances as Mortgagee shall from time to time require in order to pnsen•e the priority of the lien of this Mortgage or to facilitate the {rerformance of the terms hereof. PROVIDED, HOWEVER, that if Mortgagor shall pay to Mortg:gee the indebtedness in the principal sum of 2,874.91 as evidenced by that certain promissory note (the NMet, of even date herewith, executed by 1lortgagor and {wyable to order of Mortg:+ger, with interest and upon the terms as provided therein. and together with all other sums advanced by Mortgagee to or on behalf of Mortgagor pursuant to the Note or this Mortgage, the final maturity date of the Note and this Mortgage being October 11, 1984 , ,end shall {>erform all other coa•enants and conditions of the Note, aH of the terms of which Note err +ncor{,orated herein by reference as though set forth fully here- in, and of any nnea?•al, extension or mr+rlification, thereof and of this Mortgage, then this ~tortgagc and the estate hereby created shall cease and terminate. Mortgagor further convenants and agrees with 1~1ortgagee as follows: 1. To pay all sums, including interest sc•+•un•d henhy w'he•n due, as pnn'ided for in the :Vote and any renew:+l, extension or modifu•ation thereof and in this Mortgage. all such sums to Ix• payable in lawful money of the linitecl States of America at i~lortgagee•s aforesaid principal office, or at such other place as llortgage•c• may designate in writing. 2. 'I'o pay when due, :+nd without requiring any notice from Mortgagee, all taxes, assessments of any tyke or nature and other charges lea•iecl or assessed against the Mort g:+gc•d Pm{,erty or this Mortgage and produce-receipts therefor u{wn demand. To immediately pay and discharge am• c•laim, lien or encumbrance against the ;11ort¢aged Property which may I,r o! hernme su{x•rior to this Mortgage and to {,remit no default or delinquency on am• other lien, cncumhr:+nce or charge :+gainst the Mortgaged Pmlre•rly. :3. If required by Murtgagrc•, to also make monthly deposits with ;Mortgagee, in anon-interest bearing account, to- gether with and in addition to interest and principal, of a sum equ:+l to one-twelfth of the yearly fazes and assessments which may be levied against the Mortgaged Property, and lif so required? one-twelfth of the yearly premiums for insurance thereon. The amount of such taxes, assessments and premiums, when unknown, shall be estimated by Mortgagee. Such de{?osits shall he used by Mortgagee to pay such taxes. assessments and premiums when due. Any insufficiency of such -1- p~ ~t t~~31~ 486