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HomeMy WebLinkAbout2159 . sr . 46bi688 ~a.,~ ~q ~ t Y 3 MORTGAGE DEED AND SECURITY AGREEMENT ~ ~3'`~5 ~3~ THIS MORTGAGE DEED (the Mortgage), dated as of Decetttber 4. , 19 79 , by and between Fred Duval (hereinafter called Mortgagor) and Sun Bank of St. Lucie County ,baying an office at 111 Orange Avenues Fort Pierces ,Florida (hereinafter called Mortgagee): WITNE39ETH, that in consideration o[ the premises and is order to secure the payment of both the principal of, and interest and any other sums payable on the note (as hereinafter de[ined) or this Mortgage and the performance and ob- servance of all 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 Mortgagor • 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: Lots 3 and 4, Block 10, REVISED PLAT OF LINCOLN PARK NO. 2, according to the plat thereof as recorded in Plat Book 4, Page 77, of the Public Records of St. Lucie County, Florida. Jlr1EN'+AItY,~~ ST:+M f• ~ ~F REVENUE _ . ~ I !N MYYLltT OF TAilEf - - = -~'=t=. ~ 3, ~J 3 4j• fN1E fR (.'LASS 'C I1iTAtif+'t;lE PtRS9NAl PROPERTY. - ';C'7'IS ~`:-~~._ya.~ ~ ~ Pt1RSUA1lf TO t11APTER T1-:;.4, ACTS Of N7L ~ ROO,ER P~IITkAS _ CLEOK ~f GO11RT. tT.1IICE COQ. PZA. J tlz ` TOGETHER WITH all improvements now or hereafter located on said real property and all fixtures, appliances, 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 licensee 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, and all rents, issues. proceeds, and profits accruing from said real property and together with all procreds of the conversion, voluntary or involuntary o[ any of the foregoing into cash or liquidated claims, including without limitation, proceeds of insurance and rnndemnation 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 theregnto 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 taw as in equity, of Mortgagor and unto the same, and every part thereof, with the appurtenances of Mortgagor in j 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 tee estate in the Mortgaged Protierty subject to no lien, charge or encumbrance ezcept 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 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 claims of all persons and parties whomsoever. Mortgagor will, at the coat of Mortgagor, and without expense to Mortgagee, do, execute, acknowledge and deliver all ~ and every such further acts, deeds, rnnveyances, 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 s 22, 244.69 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 o[ Mortgagor pursuant to the Note or this Mortgage, the final maturity d:ate of the Note and this Mortgage being OPCe:aher ~ ~ T 9R4 ,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 and of this Mortgage, then this Mortgage and the estate hereby created shall cease and terminate. Mortgagor further coneenanta 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, aasessrnenla of any type or nature 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 aR:~inst the Mortgaged Property. 3. If required by Mortgagee, 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 equal to one-twelfth of the yearly razes and assesemenla which may be levied against the Mortgaged Property, and (if 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 deposits shall be used by Mortgagee to pay such taxes, assessments and premiums when due. Any insufficiency of such ~ ~;~'!"~'~7 F'iz~?ABED 611. ~ os St. Lucie County . By SyreldaMTroy~~~~ g~X•J~,i PdCF~~s ' cn~-r a~Fa~~ c~ resins