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HomeMy WebLinkAbout0771SU9;~'73 MORTGAGE DEED AND SECURITY AGREEMENT THIS MORTGAGE DEED (the Mortgage), dated as of December 1 ~ 19 80 , by :+nd between Lora M. Dampier (hereinafter called Mortgagor) and Sara Bank of St. Lucie COUnty, ,having :+n office at 111 Orange Ave. , Ft. Pierce ,Florida (hereinafter called Mortgagee); WITNESSETH, that in consideration of the premises and in order to secure the payment of both the principal ot, and Ld interest and any other sums payable on the note (aa hereinafter defined) or this Mortgage and the performance and oh- '~~ servance of all of the provisions hereof and of said note, 11'lortgagor hereby grants, sells, warrants, aliens, remises, releases, conveys, assigns, transfers, mortgages and sets over and confirms unto Mortgagee, all of Mortgagors estate, right, title and interest in, to and under all that certain real property situate in St. Lucie County, Florida more particularly described as follows: Lots 7 and 8, Block 3, FRANKLIN PARK, according to the plat thereof, as recorded in Plat Book 6, page 32, of the Public Records of St. Lucie County, Florida. THIS IS A FIRST MORTGAGE. Ri:'rflY:D: 020:1_~ IN PA`'" ~NT CF TAXES LJ: "'1 tl'~i •C' t'.'.... !:l.ii P~'.JY .: t PTtiJ+'ERTY. ~. ' FL'x;.:c:Jlt Tv .5;:,. t:. 71- .4, t.aS OP 1171. 7. ~~ ` C4R11 gGfA1T CC1tnT, ST. WEE C04 ~~. 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 affixed to, attached to, placed upon, or used in any way in connection with the complete and comfortable use, occu{~ancy, or operation of said real property, :+U 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 leases, 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 re:+1 property, tangible and intangible {rersonal property hereinafter referred to as the Mortgaged Property). Mortgagor 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, heredit:+menls :+nd a{rpurtenane•es 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 and to the s:+me, and every {cart and {rarcel thereof unto Mortgagee. Mortgagor warrants that it has a good and marketable title to an indefeasible fee estate in the Mortgaged Pmlrerty suhje+•t to no lien, charge or encumhrane•e except such as I-iortgagee h:+s agreed to accept in writing and Mortgagor erovenants that this Mortgage is and will remain a valid and enforceable first mortgage on the Mortgaged Property subject only to the exce{rtions herein {rrovided. Mortgagor h:+s full power and lawful authority to mortgage the Mortgaged Property in the m:+nner and form herein done or intended hereafter to tee done. Mortgagor will preserve such title and 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 {rersuns and parties whomsoever. Mortgagor will, at the cost of Mortgagor, and without expense to Mortgagee, do, execute, acknowledge :+nd deliver all and every 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 14lortgage or to facilitate the {rerformance of the terms hereof. PROVIDED, HOWEVER, that i( Mortgagor shall {r:+y to Morlg:+gee the indetrtedness in the principal sum of a l,T~t=7.3A as evidenced by that certain promissory note (the Note, rat 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 Mortga or pursuant to the Note or this Mortgage, the final maturity date of the Note and this Mortgage being December 1,183 ,and shall perform all other covenants and e•oneliliona of the Note, all of the terms of which Note are incor{wrated herein by reference as though set forth fully here- in, :+nd of any renewal, extension or modific:+tion, thereof and of this Mortg:+ge, then this Mortgage and the estate hereby created shall cease and terminate. Mortgagor further convenants and agrees with Mortgagee as follows: ~ ao . ~~- l'~ 1. To p:+y all sums, including interest secured hereby when due, as provided for in the Note and any renev-•al, extension or modification thereof and in this Mortg:+qe, all such sums to Ire {><~yable in lawful money of the L(nited St:+tes of Amerie•:+ at Mortgagee's aforesaid principal office, or at such other place as Mortgagee may designate in writing. 2. To pay when due, :+nd without requiring any notice from Mortgagee, all taxes, assessments of any tyre or nature :+nd other charges levied or assessed against the Mortgaged Property or this Aortgage and produce receipts therefor u{eon demand. To immediately {ray and discharge any claim, lien or encumbrance against the Mortgaged Property which may be or become superior 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 Mortgagee, in anon-interest (rearing account, to- gether with and in addition to interest and principal, of a sum equal to one-twelfth of the yearly taxes and assessments which may he levied against the Mortgaged Property, and lif so required) one-twelfth of the yearly premiums (or insurance thereon. The amount o[ such taxes, assessments and premiums, when unknown, shall be estimated by Mortgagee. Such deposits shall tee used bye Mortgagee to pay such taxes, assessments and premiums when due. Any insutticiency of such 7HtS INSTRUMEM PREPARED EtT Sun Bank of S~ Lucie County dY ~ - ~_~ E=~~'T PIERCE, FL.ORICA ~~: > ~ . -~- X344 P~ 7'71