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Home My WebLink About1593 4'721:5 ~ ~ ~ 1•. : • MORTGAGE DEED AND SECURITY AGREEMENT TH S MORTGAGE DEED (the Mort a e), dated, as of December ~ 19 79, by and belween~ C• and MARION K. RFIIN~ITH, his wife, ROBF~r H. NEI'HERY and BERTHA LOUISE NETHIItY, his wife, and GEi~1INE A HtTICI•IINSON, a s le adult (hereinafter called Mortgagor) anr~~]N ~ ,having un o[fice at 111 Orange Avenue, Fort Pleroe, ,Florida (hereinafter called Mortgagee): 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 1++s hereinafter defined) or this Mortgage and the performance and ot+- servance of all of the provisions hereof and of said note, Mortgagor hereby grants, sells, warrants, aliens, remises, releases, conveys, assigns, transfers, mortgages and sets 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 • L11Cle County, Florida more I?:+rticulurly described as follows: Lots 9, 10 and 11, Block 50, San Lucie Plaza, Unit 1, as per plat thereof recorded in Plat Book 5, Page 57, Public Records of St. Lucie County, Florida [IECEIVED S /ol ZS, o U Ili PAYMENT OF TA>tE>j - - • - - - . _ _ _ DU, 0Y CI~~SS 'C' IVT,.Ff S[~ °i.RSOKAt PROPERTY, PUeSUl.Ni TO :ti1FT'- 7i-:_4, ACTS OF p71, H~ui:it P~ITkAS _ , .t _ I~ii.Ilfl la++i.tlll 1:1llIKi. $T, LUCIE C0~ Fi1lJ u~ TOGETHER WITH all improa•ements now or hereafter 1«mted on s:+id real property and all fixtures, appliances, aplk+ratus, 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 here:+fter 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 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 Mortg:+gor thereunder, including without limitation, cash or sec•++ri- ties deposited thereunder pursuant to said leases, and all rents, issues, pr«•eeds, and profits accruing from s:+id real property :+nd together with all proceeds of the conversion, a•oluntary or involuntary of :+ny of the foregoing into cash or liquidated clain+s, including without limitation, proceeds of insurance and condemn:dion awards (the foregoing said real property, tangible and intangible lersonal property hereinafter referred to as the Mortgaged Property). Mortgagor hereby gr.+nts 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 appertaining and the reversion and reversions thereof and all the estate, right, title, interest, homestead, dower and right of dower, separate est:+te, possession, claim and demand whatsoever, as well in law as in equity, of Mortgagor and unto the s+me, and every part thereof, with the appurtenances of Mortgagor in ~ and to the same, and every part and f~arcel thereof unto hlortg::gee. Mortgagor warrants that it has a good and marketable title to an indefeasible fee estate in the Mortgaged Pml?erty j subject to no lien, charge or encumbr.+n+r except such as Mortgagee has agreed to accept in writing and Mortgagor cm•enants that this Mortgage is and will remain a valid and errforceahle 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 i the claims of all t+ersons and l+arties whomsoea•er_ ~ Mortgagor will, at the cost of Mortgagor, and without expense to Mortgagee, do, execute, acknowledge and delia•er all and every such further acts, deeds, conveyances, mortgages, assignments, notices of :assignment, transfers and assur.+nces as Mortgagee shall from time to time require in order to preserve the priority of the lien of this Mortgage or to facilitate the l+er(ormance of the terms hereof. i'ROVIDED, HO;";;YEI:, if '~!~r:~;::ha: s!:s!! {r,:y 2:: ?lfortt;sgee the indehtednes,~ in the principal sum of ~ X54,000.00 as evidenced by that certain pmmissory note (the Note)- of even date herewith, executed by Mortgagor and payable to order of Mortgagee, with interest and ulwn the terms as provided therein, and together with all other sums advanced by Mortgagee to or nn behalf of Mortgagor pursuant to the Note or this Mortgage, the final maturity date of the Note and this Mortgage being Jl1Tle 1, 1990 ,and shall l+erform 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 modific:+tion, thereof and of this Mortgage, then this Mortgage and the estate hereby created shall cease and terminate. ~ ?.lortgagor further convenants and agrees with Mortgagee as follows: s 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 hlortgagee•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 Dortgagee, all taxes, assessments of any tylre or nature M and other charges levied or assessed against the Mortgaged Property or this Alortgage and produce receipts therefor uf~on demand. To immediately pay and discharge any claim, lien or encumbrance against the Mortgaged Property which may he or become su{~erior to this Mortgage and to hermit no default or delinquency on any other lien, encumbranc=e or charge against the Mortgaged Property. f 3. If required by Mortgagee, to also make monthly delxisits 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 he levied against the Dortgaged Property, and lit so required) one-twelfth of the yearly premiums for insurance thereon- The amount of such taxes, assessments and premiums, when unknown, shall he estimated by Mortgagee. Such delx?sits shall he used by Mortgagee to pay such taxes. assessments and premiums when due. Any insufficiency of such E~~~323 Pa~E~584 3