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HomeMy WebLinkAbout1405 'V JOHN A. DARL50'1, ESQ. 4904'75 ro OARLSON ANO 607K3. t her.ered } P. O. Box 2J15 959 S FedN+l Hwy, MORTGAGE DEED 6twrt. F~o.~+ a~9a THIS MOR~A xecutt~~II ct~~ia ~ da of JUI'le A.D., 19 by ISLAND VILLAGE F~UTCHINSON ISLAND DEVELOPMENT CORPORATION a Florida corp. as to Parcel "A", and SAND DOLLAR VILLAS DEVELOPMENT CORPORATION, a Florida corp., as to parcel "B", hereinafter called the Mortgagor, which term shall include singular or plural, corporation or individual. and either se:, and shall include the heirs, legal repreaen/ativea, successors and assigns of the Mortgagor, to AMERICAN BANK OF MARTIN COUNTY. a State banking rnrporation organized and existing under the laws of Florida with its principal place of business in Martin County, Florida, hereinafter called the Mortgagee, which term shall include the successors and assigns of the said Mortgagee. WITNESSETH THAT, WHEREAS, the Mortgagor has received a loan from the Mortgagee and is justly indebted to the Mortgagee. which indebtedness is hereby acknowledged and is evidenced by a certain promissory note, a copy of which has been marked "Exhibit A" and attached hereto and the provisions of said note are by reference made a part of this instrument. NOW THIS MORTGAGE WITNESSETH, that the said Mortgagor for the better securing of the several sums of money mentioned in the said note does hereby grant, bargain, sell, alien, remise, release, convey and rnnfirm unto the said Mortgagee, in fee simple forever. the following described land, of which said Mortgagor is now seized and possessed and in actual possession r situate, lying and being in....$~.. ~.UC1.e........County, State of Florida, and more particularly described as follows: . SEA LEGAL DESCRIPTION ATTACHED HERETO AND MADE A PART HEREOF AS EXHIBIT "B". RELEASE PROVISIONS -SEE MORTGAGE RIDER ATTACHED HERETO AS EXHIBIT "C". - _ _ r' ' ti - .-L - t~ i~. 4 - _ ; ~ceived : b~ - in Pa~nnMU OI Tt~llas _ _ _ _ _ Due On Class "C" intanpibN PorsatM Mp9ft~6 PYrs~ant To Chapter 71,1x4. Awls Of 111. ~~p~ co . o ROGER POITM>; 3 Clerk Circuit Court, i't. Ltids, Ca, FM. TOGETHER WITH all and singular the tenements, heriditaments and ~ppurtenancea thereunto belonging or in any wise appertaining and all structures and, improvements now and hereafter on said land and all fixtures attached thereto, together with all rents, issues and profits accruing from said premises and all gas, steam, electric, water, plumb- ~ ing, lighting, ventilating, heating and cooling syatem4, which now are or may be in or on said premises though they j be detached or detachable, including but not limited to all refrigerators, stoves, ovens, appliances and carpets and all t additions, replacements and increase thereof hereafter acquired or located on the said premises, and all attachments { and parts thereof, and any additions, eztensions or betterments of, in or to the buildings now or hereafter erected on j the said premises. TO HAVE AND TO HOLD the above granted premises, with the appurtenances unto the said Mortgagee, in fee ~ simple forever. AND the said Mortgagor hereby covenants and agrees with the said Mortgagee as follows: 1. That the Mortgagor is lawfully seized of the above described premises in fee simple and has good right to sell and convey the same to the Mortgagee; that the said premises are free and discharged o[ and from ail fazes, taz titles or certificates. judgments, mechanics' liens artd encumbrances of any .nature or kind whatsoever and that the Mortgagor $ will fully warrant and defend the same to the Mortgagee, against the lawful claims and demands of all persona whom- soever, and will make such further assurances to perfect fee simple title to said land, in the Mortgagee, as may reason- ably berequired, and will pay the several sums of money agreed in the said note to be paid and all installments of prim ~ cipal and interest thereon promptly when due, and according to the true tenor and effect of the said note. 2. That the Mortgagor will pay all and singular the fazes, assessments, levies, and encumbrances o[ every nature on the above described property, and upon this mortgage and note, or the money secured thereby, before delinquency thereof arid receipts evidencing payment of said fazes, assessments, levies arid encumbrances shall be deposited with the Mort- ; gages on or before March rat of each succeeding year during the term of this mortgage: and if same be not promptly paid when due, the Mortgagee may (without obligation to do so) pay the same, or become purchaser of any lawful evi- deuce thereof, or certificate therefor, without waiving or affecting any right hereunder and in this mortgage, or the said note which this mortgage secures; and such payments or expenditures so made shall bear interest from the date thereof '`s at the highest legal rate. ' 3. That the Mortgagor will keep all real and personal property now or hereafter encumbered by the lien of this mortgage insured as may be required from time to time by the Mortgagee against loss by fire, windstorm and other hazards, casualties and contingencies for such periods and for not less than such amounts as may be required by the ~ Mortgagee and to pay promptly when due all premiums for such insurance. The amounts of such insurance required by the Mortgagee are expressive of only the minimum amounts for which said insurance shall be written and it shall be incumbent upon the Mortgagor to maintain such additional insurance as may be necessary to meet and comply [ally with all co-insurance requirements contained in said policies to the end that said Mortgagor is not a co-insuror thereunder. Insurance shall be written by a company or companies approved by the Mortgagee and all policies and renewals thereof shall be held by the Mortgagee. All detailed designations by the Mortgagor which are accepted by the Mortgagee and aooic~~ P~1~~ ± I - ~~t - - - - _ _