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described real property as an industrial subdivision or park;
and FURTHER TOGETHER WITH all rents, revenues, issues, proceeds
and profits of the above described property, and also all
the estate, right, title, interest, property, possession,
claim and demand whatsoever as well in law as in equity of _
the said mortgagor of, in and to the same and every part
thereof unto the said mortgagee and its successors and assigns
forever.
AND the mortgagor does hereby covenant with the mortgagee
that it is indefeasibly seized of said land in fee simple;
that it has full power and lawful right to convey said land
in fee simple as aforesaid; that it shall be lawful for the
mortgagee at all times peaceably and quietly to enter upon,
hold, occupy and enjoy said land; that said land is free
from all encumbrances; that it will make_ such _furt~er _assur-antes------
to perfect _the-fee-s-imple-titi~'~ saia~and in the mortgagee
as-may reasonably be required; and that it does hereby fully
warrant the title to said land and will defend the same against
the lawful claims of all persons whomsoever.
PROVIDED ALWAYS that if the mortgagor shall pay unto
the mortgagee the principal indebtedness evidenced by that
certain promissory note of even date herewith, maturing in
three years, made by the mortgagor and payable to•the mort- -
gagee in the principal sum of Three Hundred Twenty-Five Thousand
Dollars ($325,000), the interest in said note stated being
payable in semi-annual installments beginning March 4th
1981; and shall perform, comply with and abide by eat and
every the stipulations, agreements, conditions and covenants
of the promissory note and this mortgage, then this mortgage
and the estate created hereby shall cease and be null and
void.
AND the mortgagor does hereby covenant and agree:
1. To pay all and singular the principal and interest
and other sums of money payable by virtue of said promissory
note and this mortgage, or either, on the days respectively
the same severally become due.
2. To pay all and singular the taxes, assessments,
levies, liabilities, obligations and encumbrances of every
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nature on said described property when due and payable according
to law, before they become. delinquent, and if the same shall
not be promptly paid, the mortgagee may at any time either
before or after delinquency pay~~he same without waiving
~ or affecting the option to foreclose, or any right hereunder,
and every payment so made shall bear interest from the date
thereof at the rate of 11.75 per cent per annum.
3. To keep the buildings and all equipment and personal
property now or hereafter on said premises covered by this
mortgage insured in a sum equal to at least the amount of
the mortgage, or an amount sufficient to comply with any
co-insurance requirement covering the same under the laws
of the State of Florida, covering loss from both fire and
storm, making the loss under said policies, each and every,
payable to the mortgagee, as its interest may appear, and
~ said insurance shall be in a good and responsible insurance
company satisfactory to said mortgagee, and written by a
responsible local agent satisfactory to said mortgagee; and
the policy or policies shall bear a standard New York mortgage ~
~ clause without contribution, and shall be held by the mort-
gagee; and, fn the event any sum of money becomes payable
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FEE. KOBLEGARD 8e TEEL.. P. A. ~ . ~
~ ATTORNETS AT lAW
P08T OFFICE 90X 1000 DQ'i/A ~s D,rc
FORT PIERCE. PLORIDA a3~60 D V1~ rIW`
T[ltrNON[e /s06/ 4a~.eo2o ~ E
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