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Home My WebLink About0420 • } 495162 ~ ~ MORTGAGE DEED AND SECURITY AGREEMENT T~ ~ ~ 1 ' V O 'PHIS MORTGAGE D1;1;D (the Mortgage), dated as of July 31, ~ l9 80~ by and between Elmer M. Stapleton and Josephine J. Stapleton, his wife thereinafter called Mortgagor) and Sun Bank Of St . Lucie County ,having an ottrceat 111 Orange Avenue, Fort Pierce .Florida (hereinaflercalled Mortgagee): WITNESSETH, that in consideration of the premises and in order to secure the payment of both the princilu+l of, and interest and any other sums Iwyable on the note (aa hereinafter defined) or this Mortgage and the performance :+nd o~- servance of all of the provisions hereof and of said note, Mortgagor hereby grants, sells, warrant, 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 silu:+te in S t . LuC 1 e (`ounty, Florida more partirul:+rly described as follows: ` Lot J, Block 8, QUEENS COVE, UNIT 1, as per plat thereof as recorded in Plat Book 11, Page 12A of the Public Records of St. Lucie County, Florida. , ~ _ Received ! g 7 In Psymsnt 01 Ttloc~tt - Duo On Class "C" Intsnltbb Personal orope<!~. • ; Pursuant To Chapter 71.134. Act! Ol ~ 971. ' - C ~ ~ ROGER POI TRAS Ctnrf~ Chcuk Court St. t.ucis, Co., Fle. T(K;ETHF R WITH all improvements now or hereafter 1«ated on s:+id real prot+erty and all fixtures, appliances, apfr.+ntus, equipment, heating and air conditioning equipment, machinery and articles of personal property and replacement thereof (other than those owned by lesseesot said real property) now or hereafter affixed to, attached to, placed upon, or used in any way in connection with the complete and comfortable use, «c•ul+ancy, 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 :+nd interest of Mortgagor thereunder, im•luding without limitation, cash or securi- ties deposited thereunder pursuant to s:+id leases, and all rents, issues, proceeds, and profits accruing from s:+id real property :+nd together with all I+r«•eeds of the conversion, voluntary or involuntary of any of the foregoing into cash or liquidated claims, including without limitation, proceeds of insurance and condemn:+tion awards (the foregoing said real property, tangible and int:+ngihle personal prof+erly. 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 Prot+erty, 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 estate, possession, claim and demand wh:+tscever, 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 c+me, and every part and I+:+rcel thereon unto Mortgagee. Mortgagor warrants that it has a good and marketable title to an indefeasible fee estate in the Mortgaged Prot+erty subject to no lien, charge or encumbrance except such as Mortgagee has agreed to accept in writing and Mortgagor covenants that this 1liortgage is and will remain a valid and enforceable first mortgage on the Mortgaged Prol+erty subject only to the exceptions herein provided. Mortgagor has full power and lawful authority to mortgage the Mortgaged Prof+erty in the { manner and corm herein done or intended hereafter to 1?e done. Mortgagor will preserve such title and will forever warrant j :+nd defend the same to Mortgagee and will forever warrant and defend the validity and priority of the lien herec+t :+gainst 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, conveyances, mortgages, assignments, notices of assignment, transfers and assurances as i Mortgagee shall from time to time require in order to preserve the priority of the lien of this Mortgage or to facilitate the Ierformance of the terms hereof. PROVIDED, HOWEVER, that if Mortgagor shall tu+y to Mortgagee the indebtedness in the principal sum of S 14 , 357.31 as evidenced by that certain promissor} note (the Note, of even date herewith, executed by ;1orgagor and f+ayable 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 i date of the Note and this Mortgage being July 1985 ,and shall perform all other covenants and conditions of the Note, all of the terms of which Note :+re incorporated herein by reference as though set forth fully here- in, and of any renewal, extension or modification, thereof and of this Mortg:+ge, then this Mortgage and the estate hereby I created shall cease and terminate. x Mortgagor further coneenants and agrees with Mortgagee as follows: I z 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 Morrtgage, all such sums to he 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. a 'l. To pay when due, and without requiring any notice from Mortgagee, all taxes, assessments of any tyl+e or n:?ture and other charges levied or assessed against the Mortgaged Property or this Mortgage and produce receipts therefor ufwn 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 :+gainst the Mortgaged Prof:erty- 3. If reyuired by Mortgagee, to also make monthly deposits with Mortgagee, in anon-interest hearing account, to- a gether with and in addition to interest and principal, of a sum equal to one-twelfth of the yearly taxes and assessments which I may he levied against the Mortgaged 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 t+e used by Mortgagee to pay such taxes, agses.9menta and premiums when due. Any insufficiency of such k 1H1S .°:STR:i1.tENi PF+E~~~•[U 6Y -1- ~.'J?{ U i;n ~t • 336 F~~E 419 ~~r = 4 ~ 4 -