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Home My WebLink About25755) ?129 ~b~ MORTGAGE DEED AND SECURITY AGREEMENT '~~ .p0 THIS YOR7'GAGE DEED (the Mortja6e), dated at of December ~f , ~9 ~. , by and betwr«n DAVID MICHAEL REID and STEPHANIE ANN REID, his wiYfe, tdereina(ter caued lNortaaaor and SUN BANK OF ST. LUCIE COUNTY, a Florida banking corporation , h,,,; ,n ~ om~,~ 111 Oran4e Avenue, Fort Pierce. Florida 33450 ~~t~;~,r«~~~oacao~~~K~; WtTNESSETtI. that in coosidention of the premius and in order to secute the payment of both tMe principal of, and interest and my othet wms payabb oo the note (as hercinafter defined) ot thn INottaaae and the performance and obstrvanae of aU of the p~ovisions heteoi and of said aote, Nortaa~ot beteby gnnts, seUs, wuraats, coaveys, zaians, tnasfers, mort6sges anJ sets over and confirms unto Mortgagee, aU ot Mort6agor's estate. riaht, titk and interest in, to and under aU that certain real p~operty sitwte in St . Lueie County, I'lorida, more puticululy descnbed u fotlows: As more particularly described in Exhibit "A" which is attached hereto and by reference made a part hereof. ~r~: ~y~3 oa 111 ~A1'M~NT Of TAI~E'~ : . ~ CU: QY CLI.SS 'C I~tTAHG=8LE PERS3N~L PROPERTY~ ~ ,. PU~:SJfiNT TO ~H ;PT~~ Ti-i.4, lICTS OF 1l71. . ~. Rdi.ER Pi4T:~AS ~ CLFiIK qwGWT COYdT~ ST. W~~lE COy Fl~ ~~ --- - TOGETHER WITH al! improvements now or hereafter tceatod on said real property and ail Cixtures, applianees, appuatus, equipment, iumishings, heatu~ u~d ait coaditioning equipment, machinery and utides of personal properiy and rcplacemeni thereof (other than Ihose owndd by lessees of said ral property) aow or hereafter affixed to, attachod to, placed upon, or used in any way ~n connection with the complete and com[ortabk use. occupancy, ot operation of the said cal pioperty, all licenses and permits uud or required in rnnnection with ihe use of said real property, all kases of said [eal property now or hereafter eatered into and all right. titk and interest of Mortgagor thereunder, including w7thout limitation, cuh or securities deposited thereunder pursuant to uid leases, and aU rents. issua, procads, and profits accruing fromsaid real property and together with all ptooeeds of the conversion. voluntary or involuntuy of any of the forcgoing into cash or liquidated claims, includ- ing without limitation, ptoceeds of insunnce and co~emnation awuds (the foregoi~ uid real properiy, tangibk and intang~-ble personal property heroinafter refenod to coUectively u the Mortgaged Propeny). Mortgagor hereby gnnts to Mortgaaee a security interest in the foregoing described tangibk and intaag~bk penonal propetty. TO HAVE AND 7'O HOLD the Mottgaaed Property, together with all and singutar the tenements, hereditarnents and appurtenam-es there- unto belon8ng or in anywise appertaining and the reversion and rerersions ihercof anci all the estate, right, titk, interest, homestead, dower and riEht of dower, sepante estate, possessioa, claim and demand whatsoercr, u well in law u in equity, o! Mortgagor and unto the same, and every part thereof, with the appurtenances of Mottgagot in and to the same, and every put and parcel thereof unto Nortga6ce. Mortgagor warrants that Mortgagor hu a good and marketabk titk to an i~defeuible fee esute in the rca! peoperty compris~ng the Mort- gaged Propeny subject to no lien, charge o: encumbrance except such u Mortgagee has agreed to accept in w~riting and Mortgagur covenants that this Morigage is and wi0 remain a valid and enlorceabk mortga6e on the Mortgaged Property subject only to the exc~eptions herein provided. Mortgagor has full pow~er and lav-ful anthority to mortgsge the Mortgagod Property ~n the manner and form herein done or intended hereafter to be done. Mortgagor will preservt such titk and will (orever wurant and defend the same to ~tortgagee and will forever wurant and defend the vatidity ud priority ot the lien hereof against the claims of all persons and puties whomsoever. Mortgagor will, at the cost of Mortgagor, and without expense to Mortg~gee, do, exerute, acknow{edge and detirer all and every such furthei acts, deods, rnnveyanca, mort6ages, assignmenu, notices of assignment, transfers and assurances » Mortgagee shall from time to time requirc in order to praecve the priority of the Gen of this Mortgage or to facilitate the performance of the terms hereof. PROVIDED, HOWEVER, that if Mortgagor shall pay to Mortgagee the indebtedness in the principal sum of~ 12 4• ~ 0 ~. 0 ~ u evidenced by that certain ptomissory note (the Note), of even date herewith, executed by Mottgagor and payabk to order of Mortgagee, w~th iaterat and upon the tertns u provided thercin, and together w~ith all other sums advanood by Mortgagce to or on behalt o! Mort~or pursuant to the Note ot this Mortgage, the final maturity date of the Note and this Mortgage being Februarv 2* I9 $( ard shall petform all othet oovenants and condiuons of the Note, all ot the terms of which Note are inrorporated huein by rcfercnce as th,,ugh set forth fully herein, and of any renew~al, exteas'an or modifiqtion, thereof and of ihis Moitgage, then this Mortgage and the esate herrby created shall case and terminate. Mottgagot futther corenants and agrces with Mortgagee u folluws: 1. To pay all sums, iacludinE interest securcd hereby when due, as provided for in the Nute and any renewal, extenswn or mod~ficat~on thereot ud in this Mortgage, all such sums to be Payabk in lawful money of the United States of America at Mortgagee i aforesaid princ~pal office, or at such other place u Mortgagec may designate in w•riting. 2_ To pay when due, and without roquiring any noUCe ftom Motigagee, all taxes, a.sessments o( any type or naturc and other chargcs levied ot assessed against ihe lliottgaged Propetty or this Mottgage and produce teceipts Iheretor upun demand. To immed~atrly pay and dis- charge any daim, lien or encumbnnce against the Mortgagod Property which may be or become wperior to this Mortgage and to permit no default or ddinquency on any other lien, encumbrance or chuge against the Mortgaged Property. 3. lf required by Mortgagee, to also make monthly deposits with Mortgagee, in a non-interest beanng acmunt, togethet with and in add"r tion to interat and Drincipal, of a sum equal to ona~tweltth o( the yeuty taxes and assessments which may be tevied a~ainst the Mortgaged Pro~ erty, and (if so cequirod) one-twdith of the yeuly premiums tor insurance thereon. The amount of such taxes, ascessments and premiums, when unknown, shall be atimated by Mortgagee. Such deposits shall be used by Mortgagce to pay wch tues, assessments and promiums when due. Any insufficiency of such xcount to pay such charges when due shaU be paid by Mo~tgagor to Mort~tagee un demand. If, by rcason of any default by Mortgagor under any prorision of this Mortgage, MortgaEee dcclares all sums secured hereby to be due u~d payabk, Mortgagee may then apply any funds in said account against the entire indebtedness secured hereby_ The entorceability of the covenants relating to taxes, useuments and insunnce prcmiums herein otherwist provided shall not be affected except insotar as those obligatior-s havr been met by compliance with thn puagtaph. Mottga~ee may fiom time to time at its option waire, and aftet •rny such wtivet reimtate, any ot a~ prov~sions heteof tequiring su~h deposits, by notice to Mortgagor in writing_ Whik any surh waiver u in eftcet, Morty~or shall pay taxes, assessments and insuranoe premiums u hercin eltew~herc vrovided. I~k " ~ ~ ; ,~0~3-ooo-s B~,~x~ 7 ?srr~J~~ - i - p~ Mstrum!at xtis pre~ared b P.;;ti..t l~ s~.~7 ct ~;:::: _ .:; .. ~ .. ~.. ~~.: , .._; :. ;: ~. : ,~ . -: f~rt ftc:.e, Flaia. :.,.:-~