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HomeMy WebLinkAbout0976 . . ~ ~ ~ . '^i MORTGAGB DEED AND SErURITY AGREEMENT S~SS THIS MORTGAGE DEED (the Mortga~e),datedssof .Tani~ar~ 10 ,19,~,~, by and betwoen C]~arles G. ~oades & Son. Inc. ~ IhaeinaftercallodMortgagorland of St. Lucie Ootmty 7 t 1 n.~.,nn n~~o.u,o F~- _ Pi Arr»+ Fl a_ ~34~i~ . having an _ O~IOC8l (~ICfl;IllAfltxt~~ MOf18,88AC~; W 17NESSETH. that in consideration of the prcmises and in ordcr to secure the payment of both the principal of. and intcrest and any other sums payable on the note (as hereinafter ilefined) or this Mortgage and Ure petforn~ance and obsenrance of all of the provisions hercof and of said note, Moetgagor hereby grants. sells. warrants. conveys. assigns, trarafers, mortgag~s and sets ovu and oortfirtns unto Mortgagoe, all of MortgAgor's estate, right, titk and intaeu in. to and under all that artain roal property situate in St. Lueie Qounty Counry, Florida, more particularly de.scxibod as fouows: ~ Lot 28 RIVEtt ~KS ESrA'IES, as reoorded in Plat Hook 16 page 5 of the public revords of St. Lucie Oamty, Florida. STA'LE DOCC~IIJ~ STANPS ATi'ACF~D TO ORIGIlIAL N(riE TOGE'fHER WITH all impr+ovements now or hereafter located on said real property and all f xtures, applian- ces, apparatus. equipment. furnishings. heating and sir conditioning oquipment, machinery and arlicles of pe~sonal 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 andoomfortabk use. occupancy, or opera- tion of the said real property. all licenses and permits used or ~quired in connoction with the use of said real properiy, all leases of said real propeny oow or heoeafiter entercd into and all right, titk and intecest of Mortgagor thercunder, in- cluding without limitation. cash or securities deposited thereunder pursuant to said leases. and all r~ents, isssues, pro- coais. and profits accruing from said rea! piuperty and together with all proceeds of the conversion. voiuntary or invo- luntary of any of the foregoing into cash or liquidated claims, including without limitation. proceeds of insurance and condemnation awards (the foregoing said real propeny. tangibk and intangible personal property hereinafter referred to - colkctively as the Mortgaged Pt+operty). Mortgagor hereby grants to Mortgagce a security interest in the foregoing de- ^ scribed tangibk and intangible personal pr~operty. • ; ~ ~ " TO HAVE AND TO HOLD the Mortgagod Property, together with aU and singular the tenements, heredita- f~nents and appurtenances thereunto belonging or in anywise appertaining and the ceversion and ~cversions thereot and `'v pll the estate. right. title, interest. homestead, dower and right of dower, separate estate~, possession, claim and demand - ~ wvhatsoever. as well in law as in oquity. of Mortgagor and unto the same, and every part thereof, with the appurtenances 4 bf Mortgagor in and to the same, and every part and parcel thereof unto Mortgagce. ~ ~ ~ W ~ . ~ ~ ~ o ~ Mortgagor warrants that Mortgagor has a good and marketabk title to an indefeasible fee estate in the real prop- ~~erty comprising the Mortgaged Property subject to no lien. charge or encumbrance except such as Mortgagee has agreed ~ ' R:"' "to xcept in writing a n d Mortgagor covenants t hat t his Mortgage is a n d wi l l remain a va li d a n d en forvea b fe morigage on ~ ~the Mortgaged Property subject only to the exceptions herein providcd. Mortgagor has full power and lawful authority ~ ' _ `to mortgage the Mortgaged Property in the manner and form henein done or intendod hereafter to be done. Mortgagor Ywill preserve such tiUe and will forever warrant and defend the same to Mortgagee and will forever warrant and defend ~ ~ o a ~the validity and priority of the lien hereof against thc claims of all persons and parties whomsoever. ~ Mortgagor will, at the cost of Mortgagor. and without expense to Mortgagee. do, execute. acknowledge and de- i liver all and every such further acts. dceds. coveyances. 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 Mortgage or to ~ ~ facilitate the performance of the terms hereof. . PROVIDED, HOWEVER, that it Mortgagor shall pay to Mongaga the indebtedness in the principal sum of S as evidenaod by that aertain promissory note (the Note?, of even date herewith, or any renewal or replaoement of such Note, executed by Mortgagor and payabk to order of Mortgaga, with interest and upon the tenns as pro- ~ vidod therein, and tog~ether with aq other sums advanad by Martga~oe to or on behalf of Mortgagor pursuant to the Note or • this Mortg,age, the fina! maturity date of the Note and this Matga~e as spxifiod in the Note and shatl pafam all ottxr I oovenants and ~onditions of the Note, all of the terms of which Note are irworporatod herein by referena as though set forth ful- j ly herein. and of any renewal. extension or modification, thereof and of this Mortga~e. then this Martgage and the estate hereby created shall cease and terminate. Mortgagor further covenants and agrees witfi Mortgagee as follows: 1. To pay all sums. including inter~est 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 be payable in lawtul money of the United States of America at Mortgagce's aforesaid principa) office, or at such other place as Mortgagee may designate in writing. 2. To pay when due, and without requiring any notice from Mortgagee, all taxes, assessments of any type or nature and other charges kvied or assessed against the Mortgaged Praperty or ihis Mortgage and produce roceipts there- fore upon demand. To immediately pay and discharge any claim, lien or encumbranre against the Mortgaged Property- which may be or become superior to this Mortgage and to permit no default or delinquency on any ottier lien, encum- ' brar~ce or charge against the Mortgaged Property. 3. If roquirod by Mortgagct. to also make monthly deposits with Mortgagee, in a non-intercst bearing ac- ~ count, together with and in addition to interest and principal, of a sum equal to one-twelfth of the yearly taxes and as- sessments which may be levied against the Mortgaged Pt~perty, and (if so required) one-twelfth of the yearly premiums for insurance ther+eon. 71~e amount of such ta~ces. assessments and premiums. when unknown. shall be estimated by Mortgagee. Such deposits shall be usod by Mortgagee to pay such taxes, assessments and prcmiums when due. Any in- sufficiency of such account to pay such charges when due shall be paid by Mortgagor to Mortgagce on demand. lf, by reason of any default by Mortgagor under any provision of this Mortgage. Mortgagee declares all sums secured hercby . _ to be due and payable. Mongagce may then apply any funds in said account against the entine indebtedness securcd .~aea-ooa, N a~e, 8001 th~J PAGE