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Home My WebLink About0938 • - - ' • • - ' ~ - ~ ~ - r_.._ . _ _ . ti.,, t,~ 63606 a~ ~ MORTGAG6 D~SBCURiTY AGREEMENT 1 ± . . . ~ THIS MOR'PGA(3E DEEDtthe Matp>el.dsted~of ~~,19~~. bYand betwoen ~ Sric K. Younq, P!. D. ~ lhe~anatta caUed Mcrt~or) and SZin Bank of St. Ixrie Qxuity , ~~?~E ~ offiaat 111 Oaranc~ Ave.. Ft. Pi~me. Florida 33450 (t~einsitaalledMataa~eel; • ad WITNESSEtH. that in consideration of tha premisas and in ader to secure the payment of both the principal of. ~b ~ and inter+est and aay otl~ sums paysbk on the note (sa bereinafter defiaed) a this Matgage and the perfom~anc~e and ~ observance of all of the provisions t~eroof and of said tate. Matgagor hercbY grants. sells. wartants. conveys, assigns, transfas. mart8a~es and sets ovir aad oonfumt unW Martga~oe, all d Mortga~~s esute. right, titk and intaest in, to and w~dusu ct,acartain ral propertysicuate in St. I~eie ~OUnty CountY, Fiorida, more particularly descr~'bod as fdbws: O~~3ominiun ~it No. 9, Builclinc,~ No. 1, of P~o~t St. I~ucie Medical Plaza, an offioe Oor~3omisiiua avoo~rc7ing to the Deelaratia~ of Oocx3ominiun tl~reof, reoo~rded in Official Reoarcls Bodc 411, Page 2848, of the Public laeoords of St. Iiucie ~inty, Florida, togetl~r with an undivi,cl,ed interest 3n the vommci eleme~ts ap~~~t thereto set fo~rth in said Declarati~on. TOGE7'HER WITH all improvements now or hereafter located on said rea! property and all fiatunes, applian- ces, apparatus, oquipmeat, furnishings, heating and sir conditioning oquipment, machinery and articks of personal Property and replacement thereof (dher than those owned by Iessces of said real pt~operty) now or hereafter aftixed to. . attached to, placed upon, or used in any way in coniioction with the compkte and oomfortabk use, occupancy, or opera- tion of the said neal pr+operty, all licenses and peRnits usod or roquired in connection with the use of said real property. all leases of said real propaty now or he~++r.after entered into and all right. titk and intenest of Motigagor therew~der, in- cluding without limitation, cash or socuritits deposited theneunder pursuant to said leases, and all ~+ents, isssues, pro- oeods, and profits accruing from said real property and together with all p~ooeedc of the conversion, voluntary or invo- luntary of any of the foregoing into cash or liquidated claims. including witt~out limitation. proceeds of insurance and condemnation awards (the foregoing said real property, tangible and intangibk personal property hereinafter referred to T collectively as the Mortgaged Property). Mortgagor hereby grants to Mortgagce a security interest in the foregoing de- scribod tangible and intangible persa~al property. ~ .-v ~ TO HAVE AND TO HOLD the Mortgaged Property. together with all and singular the tenements, l~eredita- ~ dnents and appurtenances the~eunto belonging or in anywise appe~taining and the reversion and neversions thereof and , `~all the estate, right, tide. interest, homestead, dower and right of dower. separate estate. possession, claim and demand ~vhatscever. as well in law as in equity, of Mortgagor and unto tbe same, and every part thereof, with the appurtenances ? of Mortgagor in and to the same, and every part and parcel thereof unto Mortgagee. - Mortgaga warrants that Mortgagor has a good and marketable tiqe to an indefeasible fce estate in the real prop- ~ny comprising the Mortgaged Property subject to no lien. charge or encumbrance except such as Mortgagee has agreed ~..~o accept in writing and MoRgagorcovenants that ttus Mortgage is and wiQ remain a valid and enforceable mortgage on ~ othe Mortgaged Pe+operty subject only to the exceptions herein providod. Mortgagor has full power a~~d lawful authority ~ ~ ~to mortgage the Mortgaged Property in the manner and form he~ein done or intended het~eafter to be done. Mortgagor ~will preserve such tiQe and will forever warrant and defend the same to Mortgagee and will forever warrant and defend ~the validiry and priority of the lien hereof against the claims of all persons and parties whomsoever. I ~ Mortgagor will. at the cost of Mortgagor, and without expense to Mortgagee, do. execute, acknowledge and de- ! "liver all and every such futther acts, deeds, coveyances, moctgages, 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 i facilitate the perforn?ance of the temis hereof. ~ PROVIDED, HOWEVER, that if Mortgagor shall pay to Mortgagoe the indebtedness in the principal sum of s 86 , 750 . 00 as eviderwod by that oertain promn~sory note (the Note), of even date txrewith, or any renewal or replaaanent of such Note, eaocucod by M~or and payabk co order of Morcgag~e, with intaest and upon the terms as pro- ~ ~ vidod therein, and to~ether with all other sunu advanood by Mortga~ae w a on behalf of Martgagor pursuant to the Note a ~ this Mortga~e, the final maturity date of the Note and this Mortga~e as spoc;ified in the Nate and shall perform all other ~ oovenants and oa~ditior~ of the Note, all of the terms d which Note are incorporatod he~an by referenoe as though set forth ful- ~ ly heran, and of any tenewal, extensia~ or modification, tlkroof and of this Mortga~e, then this Mortg~e and the estate hereby - { creatod shall aase and terminate. ; ~ Mortgagor further covenants and agrces with Mortgaget as follows: r 1. To pay all sums, includ'ing interest secured hereby when due. as provided for in the Note and any renewal, x > 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 qincipal office, a at such other place as Mortgagee may designate in writing. s ~ s 2. To pay when due. and without requiring any notice from Mortgagee, all taxes, assessments of any type or ~ natur~e and ott~er charges leviod or assessed against the Mortgagod Property or this Mortgage and produce rrceipts there- , ~ for+e upon demand. To immediately pay and discharge any claim, lien or encumbrance against the Mortgaged Property ~ which may be or bocome superior to this Mortgage and to permit no default or delinquency on any ottier lien. encum- ~ brance or charge against the Mortgagod Property. ~ ~ 3. If required by Matgagee, to siso make monthly deposita with Mortgagee, in a non-interest bearing ac- ~ count, together with and in addition to interest and principal. of a sum oqual to one-twelfth of the yearly taues and as- ~ sessments which may be kviod against the Mortgaged Propaty. and (if so roquiced) one-twelfth of the yearl y premiums fcx insurar~ee theroon. 'il~e amount of such taxes. assessments and prcmiums, when unknown. shall be estimated by Mortgagoe. Such deposits shall be usod by Moctgagee W pay such taxes. assessmaNs and p~emiums whe~ due. My in- sufficiency of such account to pay such charge,t when due shall be paid by Mortgagor w Mortgaga on demand. If. by r+eason of any defauh by Mortgagor under any provision of this Mortgage, Mo~tgagee decla~s all wms sceurod hereby to be due and payabk, Mongagoe may tlxn a~ply any funds in said accouM agairat the entire in~debtedness socurod ..~,e.~., N soo ~9 ret~ . ~ -