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Home My WebLink About0091 ' .5!~ ;510 MORTGAGE DEED AND SECURItY AGREEMENT THIS MORTGAGE DEED (the Mortgage), dated as of October ~ , 19 80, by and between TEMPLE BETH EL, INC., a Florida not-for-profit corporation (hereinafter quad Mortgagor and SUN BUNK OF ST. LUCIE COUNTY a Florida banking corporation , ha~~ ~ orcoe,t 111 OrancTe Avenue, Fort Pierce, Florida 33450 (hereinaftarcalkdMortgagee); Wf1 NESSETH, that in consideration of the premises and in order to secure the payment of both the principal of, and interest and any other sums payabb on the note (as hereinafter defhied) or this Mortgage and the performance and observance of all of the provisions hereof and oC said note, Mortgagor hereby grants. sells, wurants, conveys, assigns, transfen, mortgages and sets over and confums unto Mortgagee, all of Mortgagor's estate, right. titb and interest in, to and under all that certain real property sitwte in St • Lucie County, I'brida, more puticularly described as follows: Beginning at the Northwest corner of Section 3, Township 36 South, Range 40 East, run South 0°05'17" West along the West section line of Section 3 665.63 feet to a point; thence run South 89°54'43" East 24.86 feet to the Point of Beginning. From the point of beginning run South 89°43'22" East 208.71 feet to a point, thence run South 0°49'09" West 208.71 feet to a point, thence run North 89°43'22" West 208.71 feet to a point; thence run North 0°49'09" East 208.71 feet to the point of beginning. ar~~tv~o = 360.00 1R Pa~n:vT CF TAXEs ~J c~~_ C'f CL:.~T 'C' 1't T;t:'::i'. ; ::.i FF4~ERT7f. Wiit,JlJIT TO lNarT:•: T- .4, R.:TS OF lU]L f:~Gi:d P~IioAS ~1 CLERK CIKCIpT CGYkT, tT. LU:r1E CO,, TOGETHER WTTH all improvements now or hereafter located on said real property and all fixtures, appliances, apparatus, equipment, furnisliirigs, heating and air conditioning equipiiient, machinery and utides of personal property and replacement thereof (other than those owned , by lessees of said teal 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 the said real property. all licenses and permits usal or required in ooruiection with the use of said real property, all leases of said teal property now or hereafter entered into and all right. title and interest of Mortgagor thereunder, including without limitation. casts or sxurities deposited thereunder pursuant to sa~,leases, and all rents. issues, proooods, and profits accruing fromsaid rer}I property and together with all proceeds of the conversion, voluntary or Ihvoluntary of any of the foregoing into cash or liquidated claims, includ- ing without limitation, proceeds of ituutance and condemnation awards (the foregoing said real property, tangible and intangible personal property hereinafter referred to collectively u the Mortgaged Property). Mortgagor hereby grants to Mortgagee a security interest in the foregoing descrbed tuigibk and intangilsk personal property. _ TO HAVE AND TO HOLD the Mortgaged Property, together with all and sir?gulat the tenements, hercditaments and appurtenances there- unto belonging or in anywise appertaining and the rcvenion and reversions thereof and all the estate, right, title, interest, homestead, dower and right of dower, separate estate, possession, claim and dem~id whatsoever, as well in law as in equity, of Mortgagor and unto the same, and every put thereof, wiW the appurtenances of Mortgagor in and to the same, and every put and puce) thereof unto Mortgagee. Mortgagor warrants that Mortgagor hu a good and marketable title to an indefeasbk fee estate in the real property comprising the Mort- gaged Property subject to no lien, charge or encumbrance except such u Mortgagee has agreed to accept in writing and Mortgagor covenants that this Mortgage u and will remain a valid and enforceable mortgage on the Mortgaged Property subject only to the exceptions herein provided. - Mortgagot 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 ws71 preserve Such title and will forever warrant and defend the same to Mortgagee and will forever wurant and defend the validity and priority of the lien hereuf agaiatt the claims of all persons and puties whomsoever. I ~ .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, morigages, assignments, notices of assignment, transfers and assurances u Mortgagee shall from time to time require in order to preserve the priority of the lien of this Mortgage or to facilitate We performance of the terms hereof. PROVIDED, HOWEVER, that if Mortgagor shall pay to Mortgagee the irdebtedness in the principal sum of $180 ~ 000 • Q0 u i evidenced by that certain promissory note (the Note), of even date herewith, executed by Mortgagor and payable to order of Mortgagee, with interest and opal the terms as provded therein, and together with all other sums advanced by Mortgagee to or on behalf of Mortgagor pursuant to the Note or this Mortgage, the fuial maturity date of the Note and this Mortgage being June 1 , 19 91 and shau perform all other covenants and conditions of the Note, all of the terms of which Note arc incorporated herein by reference as though set forth fully herein, and of any renewal extension or modificatioq thereof and of this Mortgage, then this Mortgage and the estate hereby created shall i cease and terminate. ~ w - _ . ~ 1. _ . , . " Z tgag agrees with Mortgagee ufollows: - .-v - - T•,- . Mor or further covenants and ' L ( Q• O ~ 1 P.B. ~ti,. _ I. 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 Ameriq 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 Morigagee, all taxes, assessmrnts of any type or nature and other charges _ levied or assessed against the Mortgaged Property or this Mortgage and producx receipts thereoo? uj+on demand- To immediately pay and dis- chuge any claim, uen or encumbrance against the Mortgaged Property which may br of become wperior to this Mortgage and to permit no default or delinquency on any other lien, encumbrance or charge against the Mortgaged Property. 3. [f required by Morigagee, to also make monthly depositf with Mortgagee, in anon-interest bearing account, together with and in addi- tion to interat and principal, of a sum equal to ono-twelfth of the yearly taxes and assessments which may be levied against the Mortgaged Prop- ( erty, and (if so required) oaatvrelfth of the yeuly premiums for insurance thereon. The amount of such taxes, assessments and premiums, when = unknown, shall be estimated by Mor'.gageb. Such deposits shall be used by Mortgagee to pay such taxes, assessments and premiums when due. My insufficiency of such account to pay such chuges when due shall be paid by Mortgagor to Mortgagee on demand. If, by reason of any default by Mortgagor under any provision of this Mortgage, Mortgagee declues all sums secured hereby to be due and payable, Mortgagee may then apply any funds in said account against the entire indebtedness secured hereby. The enforceability d the covenants relating to taxes, assessments and insurance premiums herein otherwise provided shall not be affected except insdar as those obligations bare been met by rnmpliance with this puagnph. Mortgagee may from time to time at its option waive, and after any xuch waiver reinstate, any or all provisions hereof requiring such s deposits, by notice to Mortgagor in writing. While any wch waiter is in effect, Mortgagor shall pay taxes, assessments and insur'rioe premiums as herein elsewhere provided. 4.603-00O-S - . , - 1 - BQ~~ - ° ~ - r = n