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HomeMy WebLinkAbout0424 ~S~- b3~~fs~ . , 495163 -q ~ MORTGAGE DEED AND SECURITY AGREEMENT ~~s~.lree.. 13 • ~o THIS MORTGAGE DEED (the Mortgage), dated ae of A1Lga' ~ t- e r , 19 $O, by and between Qosemary 8. Smith and Helen M. Green (hereinafter called Mortgagor) and Suri Bank Of St . Lucie County ,having tin otticeat 111 Orange Avenue, Fort Pierce ,Florida (hereinafter called Mortgugee); 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- eenance of all of the provisions hereof and of said note, Mortgagor hereby grants, sells, warrants, aliens, remises, releases, conveys, assigns, transfers, mortgagee 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 _ T.}u,i a County, Florida more particularly described as follows: Lots 10, 11, 12, 13, 14 and 15, RUSSOS RE-SUBDIVISION of Block 3, of M.K. MOORE'S SUBDIVISION, according to the plat thereof recorded in Plat Book 4, page 47, of the Public Records of St. 3 ~ Lucie County, Florida. tjl 7 fteceivt>td ! ~ In Payment Of Taxi! I ~ Due On Class "C" intangible Personas t'rop~rty, - - - pursuant To Chepter 71, 134, Acts O~ ' 9~1, - ~ ~ ROGER POITRAS { ~ ~ i .'thr~ Circuit Court, SL LuCls, Co., Fla. - TOGETHER WITH all improvements now or hereafter located on s:~id real property and all fixtures, ap}~liances, apparatus, equipment, heating and air conditioning equipment, machinery and articles of petxonal 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 way in connection with the complete and comfortable use, occupancy, or operation of said real property, :dl 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 teases, 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 pro}~erty hereinafter referred to as the Mortgaged Property). Mortgagor hereby grants to Mortgagee a security interest in the foregoing described tangible and intangible personal properly. TO HAVE AND TO HOLD the Mortgaged Pro}~erty, together with all and singular the tenements, hereditaments :ind :i}~purtenances thereunto belonging or in anywise ap}pertaining 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 Weil 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 part and }k~rcel thereof unto Mortgagee. Mortgagor warrants that it has a good and marketable title to an indefeasible fee estate in the Mortgaged Pro}?crty subject to no lien, charge or encumbranm except such as Mortgagee has agreed to accept in writing and Mortgagor covenants that this Mortgage is :end will remain a valid and enforreal:le first mortgage on the Mortgaged Property subject only to the j exceptions herein provided- Mortgagor has full power and lawful authority to mortgage the Mortgaged Pro}~erty 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 s 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 e~•ery 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, HOWEVI':R, that ii Mortgagor shall }x~y to Mortgagee the indebtedness in the principal sum of a 10 , 870.38 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 Mortgagor pursuant to the Note or this Mortgage, the final maturity date of the Note and this Mortgage being c * ~ a a n ,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. I 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 :it 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 taxes, assessments of any type or nature €t :ind 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 3 or become superior to this Mortgage and to permit no default or delinquency on any other lien, encumbrance or charge i against the Mortgaged Property. F 3. It 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 asses,ments which may t?e levied against the Mortgaged Property, and lif so required) one-twelfth of the yearly premiums for insur:~nce thereon. The amount of such taxes, assessments and premiums, when unknown, shall be estimated by Mortgagee. Such deposits shall be used by Mortgagee to pay such taxes, assessments and premiums when due. Any insufficiency of such THIS tNSTRUAIENT PREPARED BY Sun a ~ of St. Lucie ounty -1- ~.G BCO~KJJ6 PACE ~tl:rJ 71" r: -t. ~ _ .