HomeMy WebLinkAbout0427 TO HAVE AND TO HOLD the above-granted premises with
all easements,tenements, hereditaments, appurtenances and -
other rights and privileges thereunto belonging or in anywise
now or hereafter appertaining unto and to the use of the
Mortgagee, its successors and assigns, forever.
AND THE MORTGAGORS HEREBY COVENANT with the Mortgagee
that the Mortgagors are indefeasibly seized of said land
in fee simple; that the Mortgagors have full power and lawful
right to convey the same as aforesaid; that the mortgaged
premises are free and clear of all liens and encumbrances
except as herein otherwise recited;-that it shall be lawful
for the Mortgagee at all times peaceably and quietly to
enter upon, hold, occupy and enjoy said simple title to
said land in said Mortgagee as may reasonably be required;
and the Mortgagors do hereby fully warrant the title i
to said land, and every part thereof, and will defend the #
same against the lawful claims and demands of all persons.
ti
PROVIDED ALWAYS that if Mortgagors shall comply
with the terms and conditions of that certain Addendum And
Supplement To Forebearance And Modification Agreement, which
Agreement is dated July 26, 1979, and which Addendum is
dated July 26, 1979, and which Addendum and Forebearance
Agreement was entered into by and between George A. Costa,
Lucille V. Costa, Bear's Nest, a New Jersey Corporation and the
Mortgagee herein, and which Addendum called for payment
of approximately X115,000.00 of real and personal property
taxes on or before January 31, 1980, on property pledged
as collateral to Mortgagee herein under the terms and
conditions of a certain mortgage deed dated October 19,
1973, recorded at O.R. Book 220, Page 1953, Public Records
of St. Lucie County, Florida, which mortgage was modified !
pursuant to the terms of said Forebearance Agreement,
this Mortgage and the estate hereby created shall cease {
and determine and this mortgage shall become of no further
force and effect. It is agreed that this mortgage is being
- given solely as additional collateral for the payment
of the aforesaid taxes and when the aforesaid taxes are
paid in full this mortgage shall be satisfied in full. '
AND THE MORTGAGORS HEREBY COVENANT AND AGREE
iVITH THE MORTGAGEE:
1. To pay all and singular the taxes, assessments,
levies, liabilities, obligations and encumbrances of every
nature and kind now on said described property, and/or
that hereafter may be imposed, suffered, placed, levied
or assessed thereupon, and/or that hereafter may be levied
or assessed upon this mortgage and/or the indebtedness
secuxed hereby, each and every, when due and payable
according to law, before they become delinquent, and before
any interest attaches or any penalty is incurred; and insofar
as any thereof is of record the same shall be promptly
satisfied and discharged of record and the original official
document (such as, for instance, the tax receipt or the
satisfaction paper officially endorsed or certified)
shall be placed in the hands of said Mortgagee within
ten days next after payment, excepting 1978 taxes.
2. To keep any buildings and improvements now
standing or hereafter errected upon the mortgaged premises
and any and all apparatus, fixtures and appurtenances now
or hereafter in or attached to said buildings or improvements,
insured against loss or damage by fire and such other hazards
as the Mortgagee may from time to time require, all such
insurance to be in forms, in companies and in sums (not
less than sufficient to avoid any claim on the part of the
insurers for co-insurance) satisfactory to the Mortgagee; that
all insurance policies shall be held by and shall be for
the benefit of and first payable in case of loss to the
Mortgagee, and that at least fifteen days before the expiration
ao~x 320 ~acF ~5
-2-