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Home My WebLink About0946 ~ • ~ ~ f . ~ f 1 ~I~ -u~ ~.J MORTGAG6 DEB~ AND S~CtlW7T ~RBBMBNT '[7~ilSMORTGAtiEDEEDItlxMortp~el.dttedataf ~r . j_l .19~_,b~?andbetwan Sorrell Strauss, M.D. ~ ~j~y~[~~~jy~prw~)~ S~m Aank nf St , Ta~r!i ~ Cpunftv ~~a~ 111 Orange Ave., Ft. Pierce, Florida 33450 ~~~Ma~~; WlTNESSETH. that in conside~ion of thc poemises and iaorderto secure the payment of both the principal of. and iaterest and any otl~er sums payabb on tbe ~ote (as beneinattu defiaed) or this Martgage and tbe pexforn~ancc aad ~ obsenranoe of all of tbe poovisions heneof and of said note, Mortgsgor hereby grants. sells. warrants. conveys. assigns. ` ~us, mart~,a~es aad seta over aad oonfira~a unto Matpgee, all af Mortg~~or`s estate, righ~ titk and int~est in, to and,uiduallthat~tainrcalpmpertysituatein St. Lucie Countv County, Flaride, mare P~utic~ilarlY desaibed ss folbws: Condominium Unit 14, Buildinq No. 1, of Port St. Lucie Medical Plaza, an office condominiwa ac~ording to the Declaration of Condominium thereof, recorded in Official Records Book 411, Page 2848, of the Public Records of St. ~Lucie County, Florida, together with an undivided interest in the common elements appurtenant thereto set farth in said ~ D'~~i~~R~f~ all improvements now or hereaRer lacatod on said real property and all fixtures, applian- ces, apparatus, equipment, fumishings, heating and sir conditioning oquipment, machinery and azticlas of personal property and replacement theceof (other than those owned by lessees of said real pooperty) now or hereaflter ~xed to, attachcd to, plaoed upon. or usod in any way ia connectioa with the compkte sod oaafa~tabk use. occupancy, or op~ra- tion of the said real property, all licenses and pem~its usod or required in connection with the use of said real property. all kases of said c~eal property now or hec+eafter eate~+ed into and all right, titk and intetest of Mortgagor thereundu, in- cluding without limitation. cash or securities depositod thereunder pursuant to said leases, and all rents. isssues, pro- ceeds, and profits accruing from said real prope~ty and together with all proceeds of the conversion, voluntary or invo- ~ luntary of any of the foregoing into cash a liquidated claims, including without limitation. procceds of insurance and condemnation awards (tt~e foregoing said rc,al ;moperty, tangibk and intangible persunal property hereinafter refemed to rnllectively as the Mortgagod Property). Mortgagor hercby grants to Matgagee a security interest in the foregoing de- scribod tangible and intangibk personal prope~ty. " a TO HAVE AND TO HOLD the Mortgaged Pr~operty, together with all and singular the tenements, heredita- , r. ~ ments and appu~tenances thereunto belonging or in anywise appectaining and the reversion and reversions thereof and 5~; all the estate, right, title, inte~est. homestead. dovrter and right of dower, separate estate, possession. claim and demand whatsoever, as well in law as in oquity, of Mortgagor and unto the same, and every part thereof. with the appurtenances ~ of Mortgagor in and to the same. and every part and parcel thereof unto Mortgagee. : , ~ Mortgagor wanants that Mongagor has a gaod and marketable title to an indefeasible fce estate in the real prop- erty comprising the Mortgaged Property subject to no lien. charge or encumbrance except such as Mortgagee has agrced to xcept in writeng and MoRgagor covenants that tfiis Mo~tgage is and will remain a valid and enforceabk matgage on v_~ ~ Y the Mortgaged Properiy subject only to the exceptions herein provided: Mortgagor has full power and lawful authority - 4! to mortgage the Mwtgaged Propecty in the manner and form herein done or intended hereafter to be done. Mortgagor will pteserve such title and will forcver warrant and defend the same to Mortgagee and will forever warrant and defend ~ the validity and priority of the lien he~+eof against the claims of all persons and parties whomsoever. ~ Mortgagor will, at the cost of Mortgagor. and without eapense to Mortgagee. do, execute, acknowledge and de- ` ~ liver all and evtry such further xts, dceds, coveyances. mortgages, assignments, notices of assignment, transfers and ~ ~ assurances as MoRgagee shal! 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. I ; pR V D HOWEVER, that if Mort °g,~~r shall pay to Mortgagce the indebtedness in the prinapal sum of s 9 6, So b.~d as evidenad by that oertain promissory ~wte (the Note), of even date herewith, a any renewal or ~ replaoanent of such Noce, exccucod by Mort~agor and payabk w order of Morega~oe, wich incuKeccc and upon che cerms as pro- a vi~od therein, and to~ethu with all other surm advanood by Mortga~oe w or on behalf of Mortpgor pursuant to the Note a this Mat~e, the final maturity date d the Note and this Mortga~e ss spxifiod in the Note and shall perform all other ~ oovenants and oonditions of the Note, all of the tern~s of which Note ate incaporated herein by referena as ttaugh set forth ful- ~ !y txrein, and of any renewal, excension or modification, dxroof and of chiS Morc~e, then chis Morc~age and ihe esrace herr.by creatod shall oease and terminate. I s Mortgagor furtt~er covenants and agrees with Mortgagee as follows: ~ I. To pay all sums. including intec~est secured hereby when due, as provided for in the Note and any renewal, ( extension or modification thereof and in tbis Mortgage, all such sums to be payable in lawful money of the United States ! of America at Mortgagee's aforesaid principal office, or at such other plaoe as Matgagee may designate in writing. ~ ! 2. To pay when due, and without requiring any notice from Mortgagee. all taAes, assessments of any type or ! nature and other charges levied or assessod against the Mortgaged Pmperty or this Mortgage and produoe ~+eceipts thcn- , fa+e upon demand. To immediatelY paY and discharge any claim, lien or encumbrance against the MortBaged Property which may be or become superior to this Mortgage and to pe~mit ra default or delinquency on any ot}ier lien, encum= branoe or charge against the Mo~tgaged Property. f 3. If ~oquired by Matgagee, a also make mon~hly deposics wich Morcgagee. in a non-interest bearing ac- count. together with and in addition to interest and principal, of a sum oqual W one-twelfth of the yearly taxes and as- sessmeets which may be kvied against the MoRgaged Pnoperty, and (if so reqaired) one-twelfth of the yearly premiums for insurance thercon. The amount of such ta~ces. assessmeMs and prcmiums, when unknown. st~all be estirnated by ~ Mortgagoe. Such deposits shall be uaed by Martgagee to pay such taues, 8sseaaments and pr~emiuma wi~en due. My in- sufficiency of such account w pay such chuges when due shall be p~id by Mortgagor w Matgagoe on demand. If, by rosaon of any default by Mortgagor under any provision of this Mortgage, Mortgagee declares sll wms socurod t~eneby to be due and payabk. Mortgaga may then apply any funds in said amouM w~e u~d~ secured a~ ~ 1-0~4-0Oa1 N Y~1 ~ 4.. _ ~