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Home My WebLink About0815 SU'~538 ~3a So ~ Tae I,ZO.~i. ~.s. ~a45 MORTGAGE DEED AND SECURITY AGREEMENT THIS MORTGAGF. DISED Ithe Mortgage), dated as of November 13 ~ IgBO , by and between Don L. Schultz and Sally R. Schultze his wife, (hereinafter calied M~oartgaggor)yaynd Sun Bank of St. Lucie County, Ft. Pierce, FL ,having an office al ~1~•OBOx98,AFtr.u~ierce, ,Florida (hereinafter c:+lled Mortgagee): WITNES.SE'CH, that in considerntion of the premises and in order to secure the {rayment of both the principal of, and interest and any other sums payable on the note (aa hereinafter defined) or this Mortgage and the performance and oh- senance of all of the provisions hereof and of said tote, Mortgagor hereby grants, sells, warrants, aliens, remises, releases, conveys, assigns, transfers, moHgages and nets over and confirms unto Mortgagee, all of Mortgagors estate, right, title and interest in, to and under all that certain real pro{rert situate in Indian River County, Florida more p:+rtic•ul:+rly described as follows: Being Sub-Lots 9 and ly0 in the East View Company's Subdivision No. 2 being part of Section 5, Township 33 South, Range 40 east= plat of said East View Company's Subdivision No. 2 being recorded on page 31 of Plat Book 4 records of St. Lucie County, Florida, said Sub-Lots 9 and 10 are more particularl described as follows: Commencing at the Southeast corner of Sub-Lot No. 44 in ~he East View Company's Subdivision No. 1 as the same is designated on the plat of lands of the East View Company filed in the office of the Clerk of the Circuit Court of St. Lucie County, Florida, recorded in Plat Book 4, page, l; thence Southerly along the prolongation of said easterly line 200 feet to the center line of a proposed boulevard; thence at right angles thereto. westerlyy along the center line of said proposed boulevard 200 feet; thence Northerly. and parallel with the first course, X00 feet to the Southwest corner of Sub-Lot No. 43, in said Subdivision No. 1; Thence Easterly along the Southerly lines of said Sub-Lots Nos. 43 and 44, 200 feet to the place of beginning;.Said lands being otherwise describzd and identified as Lots 9 and 10, Block 2, of Riomar Subidivision as.per plat of Riomar Subdivision recorded in the office of the Clerk of the Circuit Court of Indian River County, Florida. • THIS IS A SECOND MORTGAGE. •~uyC ~ o S~ 33 ~a u n ~ on acs ago ~ li TOGETHER WITH all im{rrovements now or hereafter located on s:+id real pro{rerty and all fixtures, appliance!r, ap{raralus, equipment, heating and air conditioning equipment, machinery and articles of person:+1 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, occuµ•+ncy, or operation of said real {rro{rerty, :+il 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 sec•uri- ties de{rosited thereunder pursuant to s:+id leases, and all rents, issues, proceeds, and profits accruing from said real pro{rerty :+nd together with :+11 {rroceeds of the conversion, voluntary or involunt:+ry of :+ny of the foregoing into cash or liquidated claims, including without limitation, proceeds of insurance and condemnation awards (the foregoing said real pro{rerty, tangible and in4+ngible {rersanal property hereinafter referred to as the Mortgaged Pro{rerty?- Mortgagor hereby grants to Mortgagee a security interest in the foregoing described tangible and intangible {rersonal property. TO HAVE AND TO HOLD the Mortgaged Pro{rerty, together with all and singular the tenements, hereditaments and appurtenances thereunto belonging or in anywise ap{rertaining 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.:cs well in law as in equity, of Mortgagor and unto the s:+me, and every µ•+rt thereof. with the appurtenances of Aortgagor in and to the came, and every {r:+rt and {r:+rce) thereof unto Mortgagee. j Mortgagor warrants that it has a good and marketable title to an indefeasible (ee• iwtate in the Mortgaged Pmtrerty Rubjec•t to no lien, charge or encumbrance except such as Mortgagee has ::gre•e+f to ac•c•ept in writing and Mortgagor covenants that this Mortg:ge is and wit! remain a valid and enforceable first mortgage on the Mortgaged Yro{rerty subject only to the exceptions herein provided. Mortgagor has full {rower and lawful authority to mortgage the Mortgaged Pm{rerty in the manner and form herein done or intended hereafter to be done. Mortgagor will preserve such title and will forever warrnnt and defend the s:+me to Mortgagee and will forever warr.+nt and defend the validity and priority of the lien hereof against ~ the claims of a!1 {rerscrns and parties whomsoever. Mortgagor will, at the cast of Mortgagor, and without expense to Mortgagee, do, execute, acknowledge and deliver all t and every such further acts, deeds, conveyances, mortgages, :ursignments, notices of assignment, transfers and assur.+nc•es as Mortgagee shall from time to time require in order to pregen•e the priority of the lien of this Mortgage or to facilitate the {rerformance of the terms hereof. PKOVIDED, HOWEVER, that if Mortgagor shall µry to Mortgagee the indebtedness in the principal sum of ~ 60,227.91 as evidenced by that certain promissory note (the Notel, of even date herewith, e:ec•uted by ' Mortgagor and {r:ryalde to order of Mortgagee, with interest and upon the terms as pmvided therein, and together with a!I 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 NOVember 13, 1990 ,and shall Irerform all other covenants and conditions of the Note, all of the terms of which Note are incor{ror.+ted herein by reference as though set forth fully here- in, and of any renewal, extension or modification, thereof and of this Mortgage. Then this 111origage and the estate hereby cre:ded shall cease and terminate. Mortgagor further c•onvenants and agrees with Mortgagee as follows: 1. To µ+y all sums, including interest secured hereby when due, as {rrovided 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 at Mortgagee's afores:+id princi{r:+i office, or al such other place as Mortgagee miry designate in writing. 'l. •fo pay when due, and without requiring any notice from Mortgagee, all taxes, assessments of any tyre or nature and other charges levied or assessed against the Mortgaged Property or this Mortgage and produce receipts therefor upon - demand- To immediately {ray and discharge any claim, lien or encumbrance against the Mortgaged Property which may be or become su{rerior to this Mortgage and to permit no default or delinquency on any other lien, encumbrance or charge against the Mortgaged Property. 3. If required by Mortgagee, to also make monthly deposits with Mortg:+gee, 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 assessment:+.which may Ire 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 be estimated by Mortgagee. Such deposits shall be used by Mortgagee to pay such taxes, assessments and premiums when due. Any insufficiency of such t1HfS INSTRUIrtENT PREPARED 6Y Rscsivt:d • ~ ~ ~ :n Payment Of Ttncss Su:~ bank of St. Lucie County -I- ow ort dart: ••c•• Inwngible Parsons) Prottawty, ry M, . B., Freeman Pwiwant To Chapter 71, 134, Acts Vt 1Q71. - _ ROGER PORItAS FeJaT p!};=~.~. ':.~:~u:,a BG~K3 3 ~aGE 814 t r Clerk ChaaR Cowl •t ~~MSIa Co, lM.. ' il? ~C;:'TN ai:c:ON?) 51:iC1•T _