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MORTGAGB DBSD s~l~
This Mortgage Deed, executed~the 7th day of !lay, ~
' A.D. 1984 by DOOGLAS INVS3T!lBPt'~3 CORPORATION, a Flor ida
Corporation, hereinafter called the mortgagor, to SBCURITY AND
INVBST!lSNT CORPORATION OF T8S ~PAL!! BS~C883, P.O. Box 14970,
Nortb Palm Beach, Florida 33408, bereiaafter called the h(,
mortgagee: . ~
. ab~~` t .
WITNBSSSTH, _that for good and valuable consideratfons,
and also in consideration of the aggregate sum named in the
promissory note~ of even date herewith, hereinafter described,
the mortgagor hereby~grants, bargains, sells, aliena. remisses,
conveys and confirms unto the mortgagee all the certain land uE
Which the mortgagor iB now ~eizea and in pcssession situate in
St. Lucie County, Florida, viz:
Lot 2~, Block 75, SOUTB PORT ST. LUCIS, ONIT 5, according to the
Plat thereof, as recorded in Plat Book ~14, pagea 12, 12A through
12-G, of the Public Records of St. Lucie County, Florida.
t T
TBIS IS A SECOND MORTGAGS.
~
° Should the
~...;,o a property described herein be sold, all sums.
of principal and interest at such time outstanding and unpaid
~ under the note secured hereby shall thereon immediately become
~ due and payable at the option of the mortgagee. Assumption of
--~'j~; this mortgage by a mortgagee approved, buyer may require.
~ j a-; modif ication of the mortgage not~ to an interest acceptable to ~
w
~ ~ N the mortgagee.
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~;~~~c~ -
~ ~ In the event the first mortgage is here-inafter amended
b=` ° ~ or increased, the second mortgagee may, at their option,
~ ~ immediately declare this mortgage and the indebtedness secured
~ hereby due and gayable forthwith._
, ; o
_ n ~i
To eave and to ~old the same, together with the
tenements, hereditaments and appurtenances thereto belonging,
and rents, issuea and profita thereof, un~o the mortgagee, in
fee sfmple.
And the. mortgagor.convenants with the mortgagee that -
the mortgagor is indefeasibly seized of said land in fee simple=
that the mortgagor has good right and lawful authority to convey
: ?n said land as aforesaidi that the mortgagor will make such
further assurancea to perfect the fee simple title to said land
~ ~ o and will defend~ tne same against the lawful claims of all ~
persons whomsoeverf and that said land is free and clear of all
; . ~ - .
> ; encumbrances. ~
~ ' ~ ~~7c~..~; ,
~ Provided Alwa s, that if said mort a or shall
Y 9 9 pay unto
~_~\~~y~;. said mortgagee tbe cer~tain promissory note hereinafter
:~!J ~ substantially copied and attached. hereto and shall perform,
~ comply with and abide by each and every the agreements,
S stipulations, conditions and covenents thereof, ~ and of this
~ mortgage, then .this mortgage and the estate hereby created,
, ~~~t
shall cease, determine and be null and void.
r- ~ _
And the mortgagor hereby futher covenants~ and agrees to
t 0 Z pay Promptly ~hen du~ the principal and interest and other sums
of money provided for in said note and this mortgage, or~either=
c~ :yy+J~l~ to pay all and singular ~the ~ taxes, assessments, levies,
~ liabilities, obligations, and encumbrances of every nature on
~ said property: to permit, commit or suffer no waste, impairment
s or deterioration of said land or the improvements thereon at any .
timef to keep the buildiings now or hereafter on said_land fully
inaured in a sum of not lesa than Mortgagee's full fnsuraale -
interestf fire and eatended.coverage in a company or companies
acceptable to the mortgagee, the policy or policfes to be held
by, and payable to, said mortgagee, and in the event any sum of
i ~ money becomes payable by virtue of such i~surance the mortgagee
ahall have the right to receive and apply the same to the
~ indebtedness hereby secured, accounting to the mortgagor for any
' surplusf to pay all coats, charges, and expenses, including
lawyer's fees and title searchea, reasonably incurred or paid by
,
~~3Z PA~~ 917
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