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Home My WebLink About107251~'7'72 ~ ~ ~ ~ MORTGAGE DEED AND SECURITY AGREEMENT - TNIS MOR7'GAGE DEED (tM Mortgage). dated u of ~~~v ~'; , 19 ~, by and betwcen ROSHAN L. H. SINGH and SHAKUN R. L. SINGH, his wife ~ ~ (6ereimftercaUodMor~gagorand SUN BANK OF ST. LUCIE COUNTY, d Florida bankinq ~~ corporation O . havir-g an' . om~ u 111 Orange Avenue, gort Pierce, Florida 33450 ~,«<;~,i«r ~~a M~t~~K~; WfCNESSETN, tlut ia considention oC the premius and in order to saute the payment of both thc p~in~ipal of, and interest u-d any other wms payabb on the note (u hereinatter defined) or this Morigage and the performanca and observance of aU of the pto~isions hereot and ot uid aote, Mottaa6ot hereby 6tants, seLLs, wunnts, conveys, usigns, transfers, mortgages ud sets over and confirms unto Mortasaee, al! of Mottgagor's aate, ri~t. titk and iate~est ia. to aad under aU that certain ral property sitwte in ~,r?t . Lueie more puticvluly descdbed u follows: County, ~lorida, UNIT N0. 2-F of I~fni~OD MEDICAL ~5 BUIIaIl~G, a Condaniniun aooording to th~e Declaratia~ of Oondominiun dated the 17th day of July, 1978, and rnoorcied in Official Revord Book 290 at Page 1627 of the Public Reooras of St. Lucie Oounty, Florida; t~ogether with an undivided share in the Oc~mn Elements appurt~~ant to such Unit and all oth~x appurten~noes to suc:h Unit as set forth in the Declaration of Oaidominiun. Nbrtgagor assuries and agrees to abserv~e and to Perfornn his obligations under tY~ Declaration of Oo~dominiun, including ?~ut not limited to the payiment of assessments for the maintenance and opP.ration of the aforesaid Oaidominiun Unit and the Coridominiun property, and to perfoxm his pr~ortionate share of Lessee's obligations w~d~er the ground lease m~re ~~-;cularly identified in the Declaratian. TOGETNER W1TH aU improvements now or hereafter located on said rcal property and all fixtures, appl~ances, appuatus, eqwpment, fumishings, heating and air conditionins oquipmeat, muhinery and utida of personal property and roplacement thereof (other than thuse owned by lessees of said ral property) now or dereafter afCucod to, attached to, plaoed upon, or weA in any way in connection with the cwnplete and comfottabk use, occupancy, or operation of the said real property. all licenses and permits used or cequired in connection w~th the use of said rcal propecty, all ~leaies of said real property now or hereafter entercd into and all right, titk and interat of Mortgagor thereunder, including without IimiUtan, cash ot securities deposited thercunder pursuant to said leases, u~d aU rents, issucs, prococd~, and profts arciuing fromsaid ~cal property and togethet with all procreds of the conrersion, voluntary or inroluntuy of any of ihe forcgoing into cash or liquidated claims, includ- ing wittwut limitation, proeeeds o[ insurance and condemnation awards Ithe foregoing said real property, tangibk and inangible personal pruperty hercinatter referred to colkctively u the Mortgaged Property). Mortgagor hereby Erants to Mortgagee a serurity interest in the foregoing described tang~bk and inwtgibk penona! property. TO HAVE AND "f0 HOLD the Moitg~ged Property, togethet with all u~d stngulu the tenements, hered~uments and appurtenan~tis therc- unto belongiag or in anywise appertaining and the reversion and reversions thereof and ap the estate, right, titk, interest, humestead, dow~er and right of dower, sepuate estate, possession, claim and demand whatsoever, as well in lavr u in equity, of Nortgagor and unto the same, and ereq put thereof, with the appurtenances ot Mortgagor in and to the same, and every part and parcel thereof unto Mortgagee. Mottgagor wunnts that Mortgagot hu a good and muketable titk to an indefeuibk fee estate in the real peuperty cumprising ihc Mort- gaged Ptoperty subject to no lien, charge or encumbrance except such as Mottgagte ha~ a~eteed to accept in writing -rnd Mortgagor cu~enants that this Mortgagt is and aill temain a ralid and e~forceabk mortgage on the Mortgaged Property sub~ect only to the excepuons herein provided. Mortgagor hu full power and law•ful authority to mortgaae the Mortgaged Propcrty in the manner and form herein done os intended hereaftrr tu be dona Mortgagot will Qresern such titk and will fotever wurant uid defend the samc to Mortgaxee and w•~II furever warrant and Qefend the validity ud priority of the 6en lxrcof against the claims of all persons and puties whomsoever. Mortgagor will, at the cost of Mortgagor, and witl~out expense to Nurtgagee, do, execute, acknowlydge and delrver all and every such further acts, dteds, conreyances, mortgages, assignments, noticr.s of uvgnment, transfen and asurances u Mortgagee shaU from ume to time require in order to preserve the pnority of the lien of this Mortgage or to fac~litate the performance of the ter~r:s hereof. PROVIDED, HOWEVER, that if Mortgagor shall pay to Mottgagee the indebtedr.rss in thc ptincipal ium of.S 72 * OOO . 0~ ~ evidenced by that certain promissory note (the Note), of even date herewith, exe~vted by Mort~or snd payabk to urder of Mmtgager, wlth intetest and upon the temu as prorided thercin, and together with all other sums advancod by Nortgagee to or on behalf of Mort~tor pursuant to the Note or this Mortgage, the final matur~ty date of the Note and this Mortgage being February ~. . 1996 and shall perfotm all othet oo~~enants and condiuons of the Note, all of the terms of which Nnte are ~ncorporated herem by rcference as though set (orth fully herein, and of any renewal, extension or modi6cauon, thereof and ot this Nottgage, then Ihis Murtgagc and the ctitate hereby aeatrd ~twll cease and terminate. Mortgagot futther covenants and agcees with Mortgagee as folluNS: I. To pay all sums. ~ncluding intercst secured heteby when due, as provided for in the Note and any renewal. extension or mud~firation thereof and in this Mortgage, all such sums to be payabk in lawful money of the Un~tcd States of America at Mortgagee'.s aforecaid principal office, or at such other place u Mortgagee may des~gnate in wnting. 2. T~ pay w•hen due, ud vrithout roquuing any notice ftom Mortgagee, all taxes, a+se~sments uf any ty{re ot nature and other chargts kviod or assessed against the Mottgaged Ptoperty or thu Mortgage and ptoduue receipts therefoi upun drmand. To immcdiately pay and dis- chuge any claim, lien or encumbrantt agtinst the Mortgagod Property which may be or become superior to this Nortgage and to perm~t no default or delinq:eency on any other lien. encumbrance or charge against the Mortgaged Pruperty. 3_ If requircd by Mortgagee, to also make monthly depos~ts with Mortgagee, in a noo-interest bearing account, together with ar:d in addi- tion to intercst and DrinciPal. of a sum equa! to ono-twelfth of the yeuly t~es and assessments which may be levied aqainst the Mortgaged Prop- erty, and (if so requiredl ono-tweltth of lhe yeuly premiums for insunnce thercon. The amount of such taxes, ane~ments and premiums, when unknown, shall be estimatod by Mortgaltet. Such deposits shall be usod by MortRagre to pay such tites, assessments and premiums when due. Any insufficiency of such account to pay such charges when due shall be paid by Mortgagor to Mortgagee on demand. IC, by reason of any default by Mortgagor under any provision of t6is Mortgage, Mortgaget dectates aU sums secvred hereby t~ be due and payable, Mort~agee may then apply any funds in stid account against the enure indebtedness secured hereby. Th~ entorceability of ~he covenants relating to taxes, usessments and insurance premiums hetein otherwise provided ahall not be afferted except insdar as those obligatioru have been met by compliance with this puagraph. Mortgagee may from time to time at its option waive, and aftet any ~uch wtiver reinstate, any or all prunsions hereof requuing such deposits, by notice to Mortgagor in writing. Wh~k any wch wairer is m effect, Mort~or sha8 pay taxes, assessments and insurance~premiums u herein elsewherc provided. ~ ~l~~K. ~~~347 P~~Ei~9 41i073-0(10-5 - 1 • -=~ ~ Y : t .;.~.~. -~,~v x.a:.5.. _ z .. ,- ... _. .. ~~=3 pp tnstrum•~t b-u o~~~~ ~' R,~x~t M, tlcye ot IlEtll GCI:; E±; l=`; ;;:_S ~ i:011~ 11,•A h~. 2.t~ Street FOrt Pktt1, flaid~ ~ ~~ ~z . ~:,:~.~ . .