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MORTGAGE DEED AND SECURITY AGREEMENT
THIS MORTGAGE DSBD (tbs Mortgage), dated as of ~ 3 , 19 ~ , by and between
ATLAhflrIC ~~IDONII1~iItBiS • IIa00IiFORATBD, 8 Florida corporation
(hereinafter called Mortgagor) and Sf~1 BANK OF' ST. I,UCIS QOUdl'Y ,having an
office at 111 Urarge Av~anue, Fott Pier+oe , Florida (hereinafter called Mortgagee);
WITNB888TH. that in consideration of the_premises and in order to ascots the payment of both the principal ot, and
interest and any other sums payable oa the sole (as hereinafter defined) or this 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, assign, traaateea, mortgages and aeb over and rnnfirms unto Moriga~eo, all of Mortgagor's estate, right, title and
interest ia, to and under all that certain real property situate in St. Llaet@ County, Florida more particularly
described as follows:
AS MORE PARTICULARLY DESCRIBED IN ATTACHED SCHEDULE "A"
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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 rnnnection with the rnmplete and comfortable use, occupancy, or operation of said real property, all
licenses and permits used or required in connection with the use of said veal property, all leases of said trot property now or i
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 profile accruing [rom'said real property
and together with all proceeds of the rnnvetsion, voluntary or involuntary of any of the foregoing into cash or liquidated {
claims, including without limitation, proceeds of insurance and rnndemnation awards {the foregoing said real property, ,
tangible and intangible personal property hereinafter retefred to as the Mortgaged Property). Morigggos 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 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 whatsoever, as
well in law as in equity, of Mortgagor and unto the same, and every part thereof, with the appurtenances of Mortgagor in
'i and to the name, and every part and parcel thereof unto `Mortgagee. i
Mortgagor warrants that it has a good and marketable title to an indefeasible tee estate in the Mortgaged Proeerty
subjeM to no lien, charge or encumbrance ezcept such as Mortgagee has agreed to accept in writing and Mortgagor. cotenants
that this Mortgage is and will remain a valid and enfotceable 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 hnd will forever warrant
and defend the same to Mortgagee and will forever warrant and defend the validity and priority of the lien hereof against
the claims of all persons and parties whomsoever.
I Mortgagor will, at the cost of Mortgagor, and without expense to Mortgagee, do, executes acknowledge and deliver all
and every such further acts, deeds, rnnveyances, mortgagee, 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 thet
performance of the terms hereof.
* * * PROVIDED HOWEVER, that if Mortgagor shall pay to Mortgagee the indebtedne~ in the principal sum of
s 12 5 • ~ ~ ~ . b ~ 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 soma advanced by Mortgagee to or on behalf of Mortgagor punsuant to the Note or this Mortgage, the final maturity ~
date of the Note and this Mortgage being SSL?telIIber ~ 3 1987 ,and shall perform all other rnvenants and
conditions of the Note, all of the terms of which Note are inrnrporated herein by reference as though set forth fully here-
in, and of any renewal, extension or modificatibn,~thereot and of thus Mortgage, then this Mortgage and the estate hereby
created anal) cease and terminate.
Mortgagor further convenants and agrees with Mortgagee as follows:
I. To pay all soma, includmg interest secured hereby when due, as provided for in the Note and any renewal, extension
or modification thereof and in thin 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 ae 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
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 We Mortgaged Property which maybe i
or become superior to this Mortgage and to permit no default or delinquency on any. other lien, encumbrance or charge
{ against the Mortgaged Properly.
~ 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 tares ar~d 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 fazes, assessments and premiums, when unknown, shall be. estipoated by Mortgagee. Such
deposits shall be used by Mortgagee to pay such tares, aseeasmenta and premiums when due.. An insufficiency of ch
* * * For the ptirpoe~e of this P~a9Y'~ and paez~graph 1 only, the term "I++~orbgagor" shad
nnearl Patrick B. Lally and Michael S. Brown. lib 1r~f.?umettt revs pepn~ fir
• ~ t.~*.a~ ii. LI~,~ of
P~ 12S-1~.::a. 2a~ Si:eet
FOft Pierce, Ftiorida
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