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HomeMy WebLinkAbout2387 1-790005 DS 4sso~3 . , , . i3 ~ ~ / MORTGAGE DEED AND SECURITY AGREEMENT TH[S MORTGAGE DEED (the Mortgage). dated as o[ November 6, ~ 19 79, by and between Roscoe D. Bowersox and Deanna J. Bowersox• his wife (hereinafter called Mortgagor) and Stuff Bank of St. Lucie County ,having :+n ottc-•e ai 111 Oranqe Avenue, Fort Pierce, ,Florida (hereinafter called Mortgagee): WITNESSETH, that in conaideralion of the premises and in order to secure the payment of both the principal ot, and interest and any other sums payable on the note (as hereinafter defined) or this Mortgage and the performance and o~- servance of al! of the provisions hereof and of said note. Mortgagor hereby grants, sells, warrants, aliens, remises, releases, conveys, assigns, transfers, mortgages and seta over and confirms unto Mortgagee,~all of Mortgagors estate, right, title and interest in, to and under all that certain real property situate in St. Lucie County, Florida more particularly described as follows: Lot 3, Block 2, EXECUTIVE ESTATES, a Subdivision according to the Plat thereof on file in Plat Book 18, page 2, of the Public Records of 1 St. Lucie County, Florida. n ~5 - ~ I T H ~ ~ - r= i._.' r ~ ~ ascelvea • ~~In Pt~tt~ftt Of Tttt{t~ _ ' ' Due On Class "C' ItttttitgiDN PrafttaeMlor~opMlY. ` T= pursuant To Chapter 71. 194, ACp O?1sp71. - ~y•..-- • - • r • . _ 0 7. 3 5 I ROGER POiTRAS 9~~ ~ !'twrf Ctrcult Cowl, St. Lut:b, CO., Flt.. TOGETHER WITH all improvements now or hereafter located on said real {rro{petty and all fixtures, ap{+liances, :+pparatus, 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 aitixed to, attached to, glared upon, or used in any way in connection with the complete and comfortable use, occu{x+ncy, or operation of said real property, :+ll licenses and permits used or required in connection with the use of said real property, 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, :+nd :+11 rents, issues, proceeds, and profits accruing from said re:+1 {+ro{+erty and together with all proceeds of the conversion, voluntary or im•oluntary of :+ny of the foregoing into cash or liquidated claims, including without limitation, proceeds of insurance and condemnation awards Ithe foregoing said real property, tangible and intangible personal property hereinafter referred to as the Mortgaged Property). Mortgagor hereby gr.+nls 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 ap{+ertaining 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, :+s well in law as in equity, of Mortgagor and unto the same, and every part thereof, with the appurtenances of Mortgagor in :+nd to the same, and every part and {+arcei thereof unto Riortg:+gee. Mortgagor warrants that it has a good and marketable title to an indefeasible fee estate in the Mortgaged Yro{+erty subject to no Tien, charge or encumbrance except such as Mortgagee has agreed to acre{>t in writing and Mortgagor rnvenants that this Mortgage is and will remain a valid and enforceable first mortgage 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 form herein done or intended hereafter to be done. Mortgagor will preserve such title and will forever warrant and defend the same to Mortgagee and will forever warrant and defend the validity and priority of the lien hereof against the ['!aims of all persons and parties whomsoever- Mortgagor will, at the cost of Mortgagor, and without expense to Mortgagee, do, execute, acknowledge and deliver all :+nd every such further acts, deeds, conveyances- mortgages, assignments, notices of assignment, transfers and assurnnc•es as Mortgagee shall from time to time require in order to preserve the {arority of the lien of this Mortgage or to facilitate the {+ertortnance of the terms hereof- PROVIDED, HOWEVER, that it Mortgagor shall Iwy to Mortgagee the indebtedness in the principal sum of S 4849. 26 as evidenced by that certain promissory note (the Note), of even date herewith, executed by Mortgagor and payable to order of lliortgagee, 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 November 6, 1984 ,and shall perform all other covenants and conditions of the Note, all of the terms of which Note are incorporated herein by reference as though set forth fully here- in, and of any renewal, extension or modification, thereof :+nd of this Mortgage, then this Mortgage and the estate hereby created shat! 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, extensinn or modification thereof and in this Mortgage, all such sums to be payable in lawful money of the tinned 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 lyt>e or nature and other charges levied or assessed against the Mortgaged Pro{~erty or this Mortgage and produce receipts therefor u{x~n demand. To immediately pay and discharge any claim, lien or encumbrnnce against the Mortgaged Property which may be or become superior to this Mortgage and to {aermit no default or delinquency on any other lien, encumbrance or charge against the Mortgaged Property. 3. If required by Mortgagee, to also make monthly de{writs with Mortgagee, in anon-interest bearing 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 lit so required) one twelfth of the yearly premiums for insurance thereon. The amount of such taxes, :?ssessments and premiums, when unknown, shall be estimated by Mortgagee- Such deposits shall he used by Mortgagee to pay such t:+xes, assessments and premiums when due. Any insufficiency of such _1_ ''K 2375 fC':'~,