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Home My WebLink About1596 t ~ " • 46454'7 ,j ~ 1 MORTGAGE DEED AND SECURITY AGREEMENT THIS MORTGAGE DEED (the Mortgage), dated as of October 30 , 19 79, by :+nd between RAY LEIN • (hereinafter called Mortgagor) wind S(JN BANK OF ST. LUCIE COUNTY ,having :+n office at 111 Orange Avenue , Fort Pierce , ,Florida (hereinafter called Mortgugeel: WITNESSETH, that in consideration of the premises and in order to secure the payment of both the principal of, and interest and any other sums payable on the note (as hereinafter defined) or this Mortgage and the performance and o~- servance of all of the provisions hereof and of said note, Mortgagor hereby grants, sells, warrants, aliens, remises, releases, conveys, assigns, trans[ers, mortgages and seta over and confirms unto Mortgagee) all of Mortgagor's estate, right, title and interest in, to and under all that certain real property situate in St • LL1Cle County, Florida more particularly described as follows: Lot 1, Block 51, SAN LUCIE PLAZA, UNIT ONE, as per plat , thereof recorded in Plat Book 5, page 57, of the public records of St. Lucie County, Florida. ^ gt~eelwd • M'aytrttant a TaxtK • A'- L ~ r 1` w~ t ? : ~ ~+It+ ~t1 Clt;at ~+~i~ ~n~(~~pnatprop~rty ' ~ ~ r U.:'_U~At-':'.!~•r' du~~usn110CMpt~t71.1~rAtltOr'~~~. `.9 ~ . - ; ~ ~ . ~ "E ~ 4 5. 0 G ~ ~ ctt~ ew+. se. ~ oo ~wt,°(i~ ~ TOGETHER WITH all improvements now or hereafter Icx•ated on said real property and all fixtures, appliances, apparatus, equipment, heating and air conditioning equipment, machinery :+nd articles of {+ersonal 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, ~ec~{u+ncy, or operation of said real pro{+eriy, all licenses and permits used or required in connection with the use of said real pro{~eriy, all leases of said real property now or hereafter entered into and all right, title and interest of Mortgagor thereunder, including without limitation, cash or securi- ties deposited thereunder pursuant to said leases, and all rents, issues, proceeds. and profits accruing from said real property and together with all proceeds of the conversion, voluntary or involuntary of any of the foregoing into cash or liquidated ciaims, including wiihuui fiwitaiiuu, prrx•rc•ais u[ iusurau••e and cundeau+ation awards (the foreKaing said real propert3•, tangible and intangible {+ersonal property hereinafter referred to as the l~lortgaged Property). Mortgagor hereby grants to Mortgagee a security interest in the torego+nR descril+erl tangible and intangibie {+ersonal 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, {+ossession, 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 MortKagor in ..:.d is , ad r._ •_.,.t ......a~ •),e_.~.,.,r M.,.:p„o..o Mortgagor warrants that it has a good and marketable title to an indefeasible fee estate in the Mortgaged Property subject to no lien, charge or encumbrance except such as Mortgagee has agreed to accept in writing and MortKagor covenants that this Mortgage is and will remain a valid and enforceable [first mortg:+ge on the :Mortgaged Property subject only to the 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 he done. Mortgagor will {.reserve such title and will forever warrant I and defend the same to Mortgagee and will forever warr.+nt and defend the validity and priority of the lien hereof against I the claims of all persons and {mrties whomsoever. • Mortgagor will, at the cost of Mortgagor, and without expense to [4lortgagee, do, execute, acknowledge and deliver al. :end every such further acts, deeds, conveyances, mortgages, :+sgignments, notices of assignment, transfers and assurances :+s ~ Mortgagee shall from time to time require in order to {+reserve the {+riority of the lien of this I1lortgage or to facilit:+te the {rerformance of the terms hereof. PROVIDED, HOWEVER, that if Aortgagor sh:+ll {r:+y to :14ortK:+Kee the indebtedness in the principal sum of 3 30 •000 • 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 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 3U , 1980 ,and shall perform all other covenants and conditions of the Note, all of the terms of which Noie are incorporated herein by reference as though set forth fu{ly here- in, and of any renewal, extension or modification, thereof :+nd of this 1\lortg:+ge, then this Mortgage and the estate hereby created shall cease and terminate. Mortgagor further 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 or modification thereof and in this Mortgage, all such sums to he 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 tyt+e or nature and other charges levied or assessed against the Mortgaged Property or this Mortgage and produce receipts therefor u{+on demand. To immediately pay and discharge any claim, lien or encumbrance against the Mortgaged Pro{•erty which may he ur become superior to this Mortgage and to permit no default or delinquency on any other lien, encumbrance or charge against the Mortgaged Property. a ~ 3. If required by MortgaKee, to also make monthly de{x+sits with Mortgagee, in anon-interest hearing account, to- gether with and in addition to interest and principal, of a sum equal to one-twelfth of the yearly taxes 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, :+ssessments and {+remiums, when unknown, shall be estimated by 1~lorigagee. Such de{x•sits shall he used by MorigaKee to pay such taxes, assessments and premiums when due. Any insufficiency of such 1 a 3~~ s~