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HomeMy WebLinkAbout0977 . ~ r ~ . _ _ - - - • - - - - - . _ - ; ~o , . ti' 593~'74 ~ . t _ ~ ~ ~ c '~l~ ~ MORTGAGR DBBD AND SECURtTY AGREEMENT 7N IS MOR7'GAG E DEED lthe Mortp~e), duod u af ~'-x' 28 . ,19~~., by and betwoen ~ arv A mESr ar~ fhriiatinr3 C~ Apr~r~ ri ~a ~ri fr~ t Ihercinaftuc~llodMortg~gorland S~m Bank of St_ ~r_iEa ~Lmt~ . Mvir~ an ofiioeat t ~ i n.r~,,.~ n.~~„e p;e.me,~la.._33a50 (heroir~attualledMortg~~oe1: ~ W ITNESSETH. that in consideration of the premises and in orde~ tasecure the payment of both the principal of. ~ and intercst and any at~er sums payable on the note (as he~cinxtkr defined) or this Mcxtgage and the perfo~nance and ` observance of all of the prnvisions hercof and of said note, Mortgagor hereby grants. sells. wartants. conveys; assigns, ~ ; transters, mortgages and sets over and oonfirms unto Mortgagee, ap ot M~tga~or's estate, right, dtk and interat in, to ; . and unde~ 81I thst oertain rcal property situete in T~ vi o County. Elorida, mae patticulariy descxibod as tollows: I ~ Iat 14, Block 1, IAST TREE ES~ATES, A subd.ivisian in Sectian 29. ; s - T 35 S R 4Q~: reoorc~ed in Plat Hook 23, Page 7, Public ~aeoards of , St. Lucie .(7aunty, Florida. 1 - t I S 1 - 1;~~ ~ $ o a ~ TOGEfHER WITH all improvements now a hercafter laated on said real propeny ~nd all fixtures, applian- o c+ ~ ces. apparatus, equipment. fumishings, heating and air conditioning equipment, machinery and articks of personal o ~ pnopeny and replacement thereof (other than those owned by lessces of said n;al propcrty) now or hereafter afTixed to. ~ attachcd to, piaced upon. or used in any way in connection with the complete andoomfatable use, occup~ncy, or opera- ~ ! tion of the said neal property, all licenses and permits usod or requircd in connection with the use of said real property. f a a° all leases of said real pr~opeKy now or hereafter entered into and all right, titk and inte~est of Mortgagor thercunder, in- i 5 0~~.~ cluding without limitation. cash or socurities deposited thereunder punuant to said kases. and all rents. isssues, pro- ~ ¢ -o 3 ceeds, and profits accruing from said resl property and together with all pr~oceods of the conversion, voluntary or invo- t ~ luntary of any of the foregoing into cash or liquidated claims. including without limitation. proceeds of insurance and < ~ W h rnnr4mr~iQ~ ~~ygfic~c fc~~~ir~g s~ ~1 gr~nyt tanqilsk and intangible ~personal p~+ooerty hercinafter refemed to collectively as the Mortgaged Pro~ierty). Mortgagor hereby grants to Mortgagee a security interest in the foregoing de- ~ N ~ scribed tangibk and intangibk personal propecty. ~ ~ TO HAVE AND TO HOLD the Mortgaged Property. together with all and singular the tenements, heredita- ~ p` ~ ments and appurtenances thcreunto belonging or in anywise appertaining and the ~+eversion and reversions thereof and ~ o~ all the atate. right. titk, interest, homestead, dower and right of dower. separate estate, possession, claim and demand a' b' ~a 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 same, anci every part and parcel thereof unto Mortgagce. ~ Mortgagor warrants that Mortgagor has a good and mazketable title to an indefeas~ble fee estate m the r+ea! prop- ? erty comprising tFie Mo~tgaged PropeAy subject to no lien. charge or encumbrance except such as Mortgagee has agreed ~ t to accept in writing and Mortgagor covenants that this Mortgage is and will temain a valid and enfotceable mortgage on the Mortgaged Property subject only to thc exceptions herein provided. Mortgagor has full power and lawful authority _w to mortgage the Mortgaged Property in the manner and form herein done or intendod hereafter to be done. Mortgagor i ~ ~ will preserve such title and wil) forever warrant and defend the same to Mortgagee and will forever warrant and detend ~ the validiry and priority of the lien hereof against the claims of all petsons and parties whomsoever. ~ ,~i • ~ ~ i ! ~ Mortgagor will. at the cost of Morigagor, and without expenx to Mortgagce, do. execute. acknowledge and de- ' ~ liver all and every such furtlxr acts. deeds. coveyances. mortgages. assignments, notices of assignment. transfers and t t t ~ assurances as Morigagee shall from time to time rcquire in order to preserve the priority of the lien of this Mortgage or to J~f ~ facilitate the performance of the temu hereof. ~ . ~ ~ ti~~~.'~i4 ~ .~'a; • - ~ PROVIDED, HOW~EVER, that if Mongagor shall pay to Mortgagoe the indebtodness in the principal sum of : S ~ as evidenad by that oertain promissory note (the Note1; of even date herewith, a any renewal or replaament of such Note, exocutod by Mortgagor and payabk w order ot Mortgaga, with interest and upon the terms ac pro- ~ E-'-~ vided thuein, and ta~etha with all other sums advanood by Martga~oe to or on behalf of Mortgagor pursuant to the Note or I~-V,.~ ~ this Mort$a~e, the final maturity date of the Note and this Mort~ge aS spxified 'en the Note and shaU perform all other ! Q~' ` f i' oovenants and oonditior~c of the Note, all of the terms of which Note are inoorporatod her~ein by reference as though set forth ful- r~~ ~ l y herein, and of any renewal, extension or modification, thereof and of this Mortga~e, then this Mort~g~e and the estate hereby : • ; , : . . ; creatod shall oease and terntinate. ; r g 1 ~ Mortgagw further covenants and agrces with Mortgagce as follows: , = 1. To pay all sums. including interest socured hercby when due, as provided 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 aforesaid principal o~ce, or at such other place as Matgagce may designate in writing. 2. To Q~ay when due, and without requiring any notice from Mortgagee, all taues, assessments of any type or nature and other charges levied or assessed against the Mortgaged Property or this Mortgage and produce receipts therc- ~ fone upon demand. To immodiately pay and discharge any claim. lien or encumbrance against the Mortgaged PropeAy which may be or become superior to this Mortgage and to permit no default or delinquency on any ottfer lien, encum- brance or charge against the Mortgaged Property. 3. If requirod by Mortgagee, to also make monthly deposits with Mortgagee. in a non-intenest bearing ac- count, together with and in additiot~ to inter~est and principal. of a sum oqual to one-twelfth of the yearly taxes and as- sessments which may be kvi~d against the Morigagod Property; and (if so rcquired) one-twelfth of the yearly prcmiums for insurance thercon. The amount of such taues, assessments a~ premiums, when onknown. shall be estimated by Mortgagee. Such deposits shall be used by Mortgagee to pay such taues, assessments and premiums when due. Any in- sufficiency of such account to pay such eharges when due shall be paid by Mortgagor to Mortgagee on demand. lf. by reason of any defau!t by Mortgagor under any provision of this Mortgage. Matgagee declares all sums secured hercby to be due and payable. Mortgagoe may then apply any funds in said account against the entirc indeMedness socured ; ..we+ooo-, N are, 800K th7~ PAGE t~ l 1 ~ .