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HomeMy WebLinkAbout1882 • , 481616 3i MORTGAGE DEED AND SECURITY AGREEMENT THIS MORTGAGE DEED (the Mortgage). dated as of February 22 ~ IS 80, by and between j Charles R. Gehrke and Cynthia R. Gehrke, his wife (hereinafter called Mortgagor) and Stln Bank Of St. LUCie County ,having an i ofriceat 111 Orange Avenue, Ft. Pierce ,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 (as hereinafter defined) or this Mortgage and the performance and ob- servance o[ 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. Lucie County, Florida more particularly described as follows: E Lot 16, Block 1, RAINTREE FOREST, an unrecorded plat, more particularly described as follows: BEGINNING at a point that is 30 feet South of and 75 feet East of the Northwest corner of Section 33, Township 35 South, • Range 40 East, St. Lucie County, Florida; thence run S89°34'46"E, parallel ' to the North line of said Section 33, a distance of 633.19 feet, thence S02°27'15"W, parallel to the West line of said Section 33, a distance of 145.00 feet, to the Point of Beginning: thence S89°34'46"E, a distance of 150.30 feet; thence S02o27'15"W, a distance of 145.00 feet; thence i N89°34'46"W, a distance of 150.30 feet; thence N02°27'15"E, a distance of 145.00 feet, to the Point of Beginning. TOGETHER WITH easement for ingress and egress from Raintree Forest Property Owners' Association, Inc. to the above named mortgagors. THIS IS A CORRECTIVE MORTGAGE DESIGNED TO CORRECT THE ERRONEOUS LEGAL DESCRIPTION SET OUT IN ORIGINAL MORTGAGE RECORDED February 22, 1980 in OR Qok 326, a e 353 and rerecorded iin~R Book 326 aq 2 $2 the Pu~~~t~ •St. Lu~ie Cou~t~~ Floc da, .of whi'c~i tie ~nt~ngible tax has a rmprovemen now or a er local on sa,d real property and all tixturea, appliances, apparatus. equipment, heating and air conditioning equipment, machinery and articles of personal property and replacementbeen thereof (other than those owned by lessees of said real property) now or hereafter affized to, attached to, placed upon, orpaid . used in any way in connection with the complete and comfortable use, occupancy, or operation ot.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 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 proceeds of the conversion, voluntary or involuntary of any of the foregoing into cash of liquidated 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 Mortgaged Property). Mortgagor herel?y 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 :+nd :+I,purtenances 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 estate, possession, claim and demand whatsoever, as well in law as in equity, of Mortgagor and unto the same, and every part thereof, with the appurtenances of Mortgagor in and to the same, and every I,.7rt and I>arcel thereof unto Mortgagee. Mortgagor warrants that it has a good and marketable title to an indefeasil,le tee estate in the Mortgaged Property subject to no lien, charge or encumbrance ezcept such as Mortgagee has agreed to accept in writing and Mortgagor covenants that this Mortgage is :+nd will remain a valid and enforceable first mortgage on the Mortgaged Property subject only to the exceptions herein prnvided_ Mortgagor has full power and lawful authority to mortgage the Mortgaged Property in the m:+nner and form herein done or intended hereafter to be done. Mortgagor will preserve such title and will forever warrant :+nd defend the same to Mortgagee and will forever warrnnt and defend fhe validity and priority of the lien hereof against the claims of all t,ersons and parties whomsoever. Mortgagor will, at the cost of Mortgagor, and without expense to Mortgagee, do, execute, acknowledge and deliver all and every such further acts, deeds, conveyances, 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 E 10 ,175 .65 as evidenced by that certain promissory note (the tiote), of even date herewith, executed by - Mortg:+gor 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 of Mortgagor pursuant to the Note or this Mortgage, the final maturity date of the Note and this Mortgage being br ra ~ 2~ F 1 9$S • and shall perform all other covenants and c•onrtitions of the Note, all of the terms of which Note are incorporated herein by reference as though set forth fully here- in, :,nd 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 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, extension or modification thereof and in this Mortgage, all such sums to be payable in l:+wful money of the L)nited States of America } at Mortgagee's stores:rid principal office, or at such other pace as Mortgagee may designate in writing. 2. To pay when due, and without requiring any notice from Mortgagee, all fazes, assessments of any type or nature and other charges levied or assessed against the Mortgaged Property or this Mortgage and produce. receipts therefor ul,on 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 against 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 taxes and assessments 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 fazes, assessments and premiums, when unknown, shall be estimated by Mortgagee. Such deposits shall be used by Mortgagee to ay such taxes, assessments and premiums when due. Any insufficiency of such ~ Thy; instrtsm•^."` " ' ` " ~~Q 1; :''.1SU~`: - . ~ T; : i?SS'J CE CO. _I_ R~a~ • h°''` fn Paytnsnt OFTettest flue On Class "C" tntangbls Psrtttmal prgr?~, ti^~i J ~-'ice. D~s~r;t:;`:~~n ~+,•susm to Chapter 71, 134, Ada Or' /I>~~ ~RtJ(.,V P~GE~uu1 ROGER POItRAS Appfoved ;,ts _ _ rtwr>, Ctrptft Court, 3~ Lucie. Co., Ra.