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Home My WebLink About0955 ` • ` _ ~ : ~ ~ c~ . .,~f. ~ c a~, MORTGAGS DC~ED ~?NDSECURI'Ck.A~RF.EMBNT v~8~ _ THis MORTGAGE DEED 1Hatgs~e), datod as ot J~~ 25 ,19~. by and betwan ~ I. T~~~ (hera~aftu cxlied Mortg~~) and SIN BAHIC DE' ST. I~~"IE ~[~Tl'Y , having an off'weat 111 nr'~*,~ia Avwrn~, F~t Pierce, Flc~id? ~3450 (hereinaftercallodMortgagoel; ~ WITNFSSEI'H. that in consideratio~ of the premises and in order to securc the payment of both the principal of, and interest and any dher swns payabk on the rate (as hereiaafter definod) or this Mortgage and the pedorrt~ance snd a observance of all of the p+ovisions hercof and of said note. Mortgagon c~reby grants. sells. warrants. conveys. assigns, transfus. a~ortga~es and sets over and oonf'un~ unto Mortga~oe, all of Mortg,9gor's estate, right, titk and interat in, ta and und~ all ehat anain real propercy sicuace in St . Lueie ~ ~ County, Florida, ma~+e p~articutarly describod as follows: ~ Ooc~3aminiun ilzit No. 5, Building No. 1, of PQRT ST. I~IE N~ICAL PLAZA, an offioe aondominiun avoarding to the Declarati,on of Qor~daniniun thereof, reoarded in Official Revor~ds Book 411, Page 2848, of ttye P~lic Reoo~ds . of St. Lucie ~ty, Flarida, t-~ogether with an iu~divided interest in the vomno~ elem~nts ap~tenant theret~o set forth in said Declaratiori. TOGE1'HER WTfH all improvements now or hereafter located on said real propeny and all fixtu~+es, applian- ces. apparatus, oquipment. furnishings, heating and air conditioning equipmeat, machinery and articles of personal p~nperty and replacement thereof (ott~er than those owned by lessees of said real property) now or hereafter affiaed to. - attached to. plaoed upon. or uud in any way in connection with the complete and oomfortabk use; occupancy, or opera- tion of the said real property. all licenses and permits used or roqui~+od in connection with the use of said real property. all leases of said real propecty now or hereafter antered into and all right. titk and interest of Mortgagor thereunder, in- . cluding without limitation, cash or securities deposited ther~eunder pursuant to said leases. and all rents. isssues, pro- ceeds, and pcefits ace~uing from said real pc~operty and togetherwith all pmceeds 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 awac+dc (the foregoing said real property, tangible and intangible personal property heneinafter refemed to rnlleetivel as the Mort a ed rt). Moct or her+eb ts to Mort ce a securit interest in the fore oin de- o a Y 8 8 P~ Y 8a8 Y 8~ 8a8 Y S 8 y~ scribod tangible and intangibk petsonal property. ` ~ o~ 'L TO HAVE AND TO HOLD the Mortgaged Property, together with all and singular the tenements, heredita- ~ ments and appurtenances thereunto belonging or in anywise appertaining and the reversion and reversions thereof and ri all the estate, right. title, interest, homestead. dower and right of dower, separate estate, possession, claim and demand whatsoever, as well in law as in equity, of Mottgagor and unto the sarne. aad every part thereof, with the appurtenances - 4 ~ of Mortgagor in and to the same, and every part and parcet thereof unto Mortgagee. ~ JJ - N Mortgagor watrants that Mortgagor has a good and marketable tide to an indefeasible fee estate in the real prop- L°~ o erty comprising the Mortgaged Property subject to no lien, charge or encumbrance except such as Mortgagee has agreed ~ v to accept in writing and Mortgagor covenants that tliis Mortgage is and witi remain a valid and enforceable mortgage on ~ ~ the Mortgaged Property subject only to the exceptions herein provided. Mortgagor has fult power and lawful authority ' ` ~ ~ ~ to mortgage the Mortgaged Property in the manner and form herein done or intended hereafter to be doae. Mortgagor ; o N wi11 preserve such title and will fonever wart~ant and defend the same to Mortgagee and will forever warrant and defend o the validity and priority of the lien hereof against the claims of all persons and parties whomsoever. ~ o a t~ ~ ~ Mortgagor will. at the cost of Mortgagor. and without expense to Mortgagee. do. execute. acknowledge and de- liver all and every such further acts, deeds, coveyances, mortgages, assignments, notices of assignment. transfers and ` assurances as MoRgagee shall from t(me to time require in order to preserve the priority of the lien of this Mortgage or to ~ facilitate the pedormance of the temu hereof. - E - ~ ~ ~ PROVIDED, HOWEVER, that if Mortgagor shall pay to Mongagee the indebtedness in the principal sum of R S 74 , 900 . 00 as evidenood by that bertain promicsory note (the Note), of even date herewith, a any renewal or ~ replaoemu~t d s~h Note, exocutod by Mortpgor and payable to order of Mortg~agoe, with interesf and upon the terms as pro- vided therein, and together with all ottier sums advanoad by Mortga~oe to or on behalf of Mortgagor pursuant to the Note or this Mortga~e, the final maturity date of the Note and this Martg~a~e as spocified in the Note and st~all pafarm all other oovenants and oonditiora ot the Note, all of the terms of which Note are inoorporated heran by reference as though set fath ful- ~ ly herein, and of any renewal, extension a modification, thered and d this Mortgage, then this Mortgage and the estate hereby created shall cease and temunate. ~ ~ Mortgagor further covenants and agrees with Mortgagee as foltows: , . ~ l. To pay all sums, including interest 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 lawful money of the United States ; of America at Mortgagee's afor~esaid principal 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 E nature and other charges levied or assessed against tt~e Mortgagod Property or this Morigage and produce receipts ther~e- ~ for~e upon demand. To immediately pay and discharge any claim, lien or encumbrance against the Mortgaged Property which may be or become superior to tbis Matgage and to permit no default or delinquency on any otlier lien, encum- brance or charge against the Mortgaged Prnperty. ~ 3. If t+equirod by Mortgagee, to also make monthly deposits 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 taxes and as- sessments which may be levied against the Mortgaged Pmperty, and (if so roquired) one-twelfth of the yearly premiums ~ for insurance thereon. The amount of such taxes. assessments and premiums, when unknown. shall be estimated by Mortgagce. Such deposits shall be used by Mortgagee to pay such ta~ces, assessments and premiums when due. Any in- ~ sufficiency of such account to Qay such charges when due shall be paid by Mortgagor to Mortgagce on demand. tf, by reason of any default by Mortgagor under any pnnvision of this Mortgage, Mortgagee dxlares all sums secured hereby to be due and payable, Mortgagce may then apply any funds in said account against the entit+e indebtedness secured a-ae4~aoo-, N a~e, 9~( PUCf ; . _ . - _ .__a . _ . _ . ~