HomeMy WebLinkAbout2489 s :.1
MORTGAGE DEED AND SECURITY AGREEMENT
THIS MORTGAGE DEED (the Mortgage), dated as of March 19 ~ t98~_, by :+nd between
W. L. GRAY and MARGARET P. GRAY, his wife
(hereinafter called Mortgagor) and SUN BANK OF ST. LUCIE COUNTY ,having un
office at 111 Orange Avenue (P.O.Box 8) Fort Pierce ,Florida (hereinafter culled 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 (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, transfers, mortgagee 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 1x+rlic•ularly
described as follows:
The North 82.5 feet of the South 92.5 feet of
Lot 12, Block B, REVISED PLAT OF COBB'S PARK, as
per plat thereof on file in Plat Book 8, Page 54,
of the Public Records of St. Lucie County, Florida.
_ _ , , f
RECEIVED : ! n e . ~ IN tAY1{E1fT OF TAXf3 ; ; : ~ ; . !
DUE ON CLASS 'C WTANt;•BLE PERSONAL PROPERTY. ~
~ S• ~ PU.~tS1JANi TO ~.N.>,PTfi 71-:3t. ACTS OF 1171. ~ - _ ~ i
R~6Et POITRAS - , ` ~ S- Q
CLERK CUIGIR COURT. ST, t{ICIE CO.. ft~i~ 111 • - _ _ _ _ _ - _ I
TOGETHER WITH all improvements now or hereafter located on s:+id real property and all fixtures, applianms,
:+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 affixed to, attached to, placed upon, or
used in any wary in connection with the complete and comfort:+ble use, oc•culx+ncy, or operation of said rer+l I+rof~erty, :+II
licenses and permits used or required in connection with the use oI said m:+) 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 s:+id real property
:+nd together with all proceeds of the conversion, voluntary or involuntary of arty of the foregoing into cash or liquid:+ted
claims, including without limitation, proceeds of insurance and condemnation awards (the foregoing said real property.
tangible and intangible personal property hereinafter referred to as the 111ortgaRed Property). Morigagor hereby grants
to Mortgagee a security interest in the foregoing desc•ril?ecf tangible and intangible Iersonal property.
TO HAVE AND TO HOLD the Mortgaged Property, together with all and singular-the tenements, heredilaments and
appurtenances thereunto belonging or in anywise apf+ertaining and the reversion and reversions thereof and all the estate,
right, title, interest, homestead, dower and right of dower, selx+rrte estate, possession, claim and demand wh:+tscever, :is
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 fx+n•el thereof unto Mortgagee.
Mortgagor warrants that it has a good and marketable title to an indefeasible tee estate in the Mortgaged Pml?erty
subject to no lien, charge or encumbrance except such as Mortgagee has agreed to accept in writing and Mortgagor c•otienanls
~i that this Mortgage is and will remain a valid and enforceable first mortgage on the Mortgaged Property subject only to the
i exceptions herein provided. Mortgagor has full Iwwer and lawful :+uthority to mortgage the Mortgaged Property in the
manner and form herein done or intended hereafter to be done. Mortgagor wit! preserve such title and will forever warrant
E and defend the s:+me to 1~1ortgagee and will forever w:+rranl and defend the validity and priority of. the lien hereof against
the claims of all t+ersons and Ixrrties whomsoever.
r
j Mortgagor will, at the cost of Mortgagor, and without exl+ense to Mortgagee, do, execute, acknowledge and deliver all
and every such further acts, deeds, conveyances, mortgages, assignments, notices of assignment, transfers and asvur<+nces as
Mortgagee shall from time to time require in order to presen•e the priority of the lien of this Alortgage or to taciliti+te the
e t+erfornxrnc•e of the terms hereof.
PROVIDED, HOWEVER, that i( Mortgagor shall pay to I.lortgagee the indebtedness in the principal sum of
$ 50 ~ Q~~' as evidenced by that rnrtain t+mmissory note (the Note), of even date herewith, executed by
Mortgagor :+nd payable to order of Mortgagee, with interest :rod ulwn the terms as provided therein, and together with all
other sums advanced by Mortgagee to or on behalf of MortgaP~or ?ur.uant to the Note or this Mortgage, the final maturity
e date of the Note and this Mortgage being August 1, 190 • and shall f~erform all other covenants and
conditions of the Note, all of the terms of which Note are incorfwrated herein by reference as though set forth fully here-
1 in. and of any renewal, extension or modification, thereof :+nd of this Mortgage, then this Mortgage and the estate hereby
created shall ce:+se and terminate.
~4ortgagor further convenants and agrees with Mortgagee as follows:
1. To pay all sums, includi+~q interest secured hereby whin due, as provided for in the Note :+nd any renewal, extension
or modification thereof and in this Mortgage, all such sums to be payable in lawful money of the United States of America
at Mortgagee's atorcy:+id principal office, or at such other place as Mortgagee may designate in writing.
~ 2. To pay v+hen due, and without requiring any notice from Alortgagee, all taxes, assessments of any type or nature
and other charges levied or assessed against the Mortgaged Property or this Mortgage and produce receipts therefor u{wn
demand. To immediately pay and discharge any claim, lien or enc•umbrnnce against the Mortgaged Praperiy which may he
3 or become superior to this 1lfortg:+ge and to permit no default or delinquency on any other lien, encumbrance or charge
:+gainst the Mortgaged Profx•rty-
i
~ .3.~ If required by Mortgagee, to also make monthly detwsits 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 t~+xes 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, assessments :+nd premiums, when unknown, shall he estimated by Mortgagee. Such
defwsits shall he used by Mortgagee to pay sgrh taxes: assessments and premiums when due. Any insufficiency of such
• ~ 1ANK
t - ~ Robert M. IJaryA of
} pQ~~ _ 11EIL1 6RIFFltJ IEfFRIES 3 l:~'r"
E~ tJf~ , P1GE 24t7V 124-A Ma zna Sired
hfi Ptefst, FloriA~