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HomeMy WebLinkAbout1115cl~K~ ~~~•,~c~ MORTGAGE DEED AND SECURITY AGREEMENT ~ ~ 1~ THIS MORTGAGE DEED (the Mortgage), dated as of December 3, 19 8U by and between 1010 Seaway Drive, Inc., A Florida Corporation (hereir-:lfter called Mortg:+gor) and Sun Bank Of St. Lucie County ,having an office at 111 Orange Avenue, Fort 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 interest and any other sums payable on the note (aa hereina[ter 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, assigns, transfers, mortgages and sets over and confirms unto Mortgagee, all of Mortgagor s estate, right, title and interest in, to and under all that certain real property situate in St. Lucie County, Florida more Ix+rticularly described as follows: From the Southeast corner of the John Stenroo's property, as described in Deed Book 182, Page 573, run South 70°18' East along the North right of way line of State Road AIA 119.7 feet to the Point of curvature; thence continue along the north right of way line of STate Road AIA on a circular curve concave to the North, having a radius of 523.69 feet, a distance of 55.3 feet to the Point of Beginning; thence continue along said curve 153.39 feet; thence run North O1°29' West 258.6 feet, more or less, to the Indian River; thence meandering the shore of the Indian River run westerly to a point on a line which bears North 06°42'48" East from the Point of Beginning; thence run South 06°42'48" West 249.86 feet to the Point of Beginning. All of the above lying in the Southeast 1/4 of the Northeast 1/4 of Section 2, Township 35 South, Range 40 East, St. Lucie County, Florida, including riparian and littoral rights. TOGETHER WITH all improvements now or hereafter located on said real property and all fixtures, ap{+liances, aplmratus, 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, occupancy, or operation of said real property, :dl 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 delwsited 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 mash or liquidated claims, including without limitation, proceeds of insurance and condemnation awards (the foregoing said real property, tangible and intangible personal property hereinafter referred to as the Mortgaged Property). Mortgagor hereby grants to 114origagee a security interest in the foregoing described tangible and intangible t~ersonal properly. TO HAVE AND TO HOLD the Mortg:ged 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 and to the s:+me, and every part and 1+.•+rcel thereof unto Mortgagee. Mortgagor warrants that it has a good and marketable title to an indefeasible fee estate in the Mortgaged Prot+erty subject to no lien, charge or encumbrance except such as Mortgagee h:~s agreed to accept in writing and Mortgagor covenants lh:+t this Mortgage is and will remain a valid and enforceable first mortgage on the Mortgaged Property subject only to the exceptions herein provided. Mortgagor has full lower and lawful authority to mortgage the Mortgaged Prof+erty in the m:+nner :+nd form herein done or intended hereafter to he done. Mortgagor will t~reserve such title and will forever w:+rrant :+nd defend the same to Mortgagee and will forever warrant and defend the validity and priority of the lien hereof :+gainst the claims of all persons and h.•+rties whomsoever. Mortgagor will, at the cost of Mortgagor, and without e:lense to Mortgagee, do, execute, acknowledge and deliver all :end every such further acts, deeds, conveyances, mortgages, :u:signments, notices of assignment, transfers and assurances as Mortgagee shall from time to time require in order to preserve the lriorily of the lien of this Mortgage or to facilitate the performance of the terms hereof. PROVIDED, HOWEVER, that i( Mortgagor shall f+:+y to Mortgagee the indebtedness in the princifk+l sum of E 50,192.69 as evidenced by that certain promissory note (the Note, of even date herewith, executed by Mortg:gor and payafde to order of Mortgagee, with interest and ufwn the terms as lrovided therein, and together with all other sums advanced by Mortgagee to or on behalf of Mortgagor lursu:ant to the Note or this Mortgage, the final maturity d:~te of the Note and this Mortgage being L)taCOmti@x' 2, 1483 ,and shall lerform all other covenants and conditions of the Note, all of the terms of which Note are incorywrated herein by reference as though set forth fully here- in, :+nd of :+ny renewal, extension or modification, thereof and of this 141ortg:+ge, then this )`iortgage and the estate hereby created shall cease and terminate. Mortgagor further convenants and agrees with Mortgagee:ua follows: 1. To pay :+II 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 he payable in lawful money of the United States of America at Mortgagee a aforesaid lrincif~al office, or at such other place as Mortgagee may designate in writing. 2. 'fo pay when due, and without requiring any notice from Mortgagee, all taxes, assessments of any type or nature :+nd other charges levied or asgesged against the Mortgaged Property or this Mortgage and produce receipts therefor upon demand. To immediately pay 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 bearing account, to- getherwith 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 (if so required) one-twelfth of the yearly premiums (or 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 -t- - ao~c344 i~acE1115 -: , ,~a~:..