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HomeMy WebLinkAbout1103 ~r ..r.j t b~.5 /O MORTGAGE DEED AND SECURITY AGREEMENT d~es~pt~ ~ 3• G~U THIS MORTGAGE DEED (the Mortgage), dated as of June 30, , 19 $Q , by and between 13 / Israel and Emma Wilson Patterson (hereinafter called Mortgagor) and Sun Bank Of St. Lucie CO. ,having an office at 111 Orange Avenue Ft. Pierce, Fl. ,Florida (hereinafter called Mortgagee): WITNE39ETH, that in consideration of the premises and in order to secure the payment of both the principal ot, and interest and any other sums payable on the note (as hereinafter defined) or thin 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 s estate, right, title and interest in, to and under all that certain real property situate in $x _ T...ri a County, Florida more particularly described as follows: Lot 6, Block B, EDGEWOOD PARK, according to the Plat therof, as recorded in Plat Book 4, page 72, of the ~ - Public Records of St. Lucie County, Florida. THIS IS A FIRST MORTGAGB RlCEIYEO : b . M PAt11ElfT OF tAXER i • ( : j ~ t i ' r ~ k S i ; r • ; . ~ ~ t L' i.-~ J DUE 021 Cll?SS 'C ItaTptltiiBlE PERSOttfll • M1 _ _ _ i ;~`•~rti~'~ i O 5. _ ~ ~ - pbZSl;Atli'TO I,tlpr7£3 71-134. ACTS OF 1liL _ ~ ,;p~-r•d5 ~ J ROGER POITRAS _ T, N -i Pe _ --~i`.~ f - • A r~ CLERK gRCINT COt)RT. tt. W~ ~`9~ - - - _ 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 attired to, attached to, placed upon, or used in any way in connection with the rnmplete and rnmtortable 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 lessee 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 or 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 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 tenementa,.hereditamenta 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 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 II and to the same, and every part and parcel thereof unto Mortgagee. i Mortgagor warrants that it has a good and marketable title to an indefeasible fee estate in the Mortgaged Property subject to no lien,.charge or encumbrance except 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 warrnnt and defend the validity and priority of the lien hereof against the claims of all persons 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, 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 3,385.48 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 of~I ort &&qq~~ ursuant to the Note or this Mortgage, the final maturity date of the Note and this Mortgage being June 30, ~JtS~ ,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 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 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 tares, aasesamenla 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 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 tares 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 taxes, assessments and premiums, when unknown, shall be estimated by Mortgagee. Such deposits-shall Ire used by Mortgagee to pay such taxes, assessments and premiums when due. Any insutticiency of such -1- ~ ECnI~tJJ~ t0i6E~~