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MORTGAGE DSED
This !lortgage D~ed, ezecuted the 20th day of March,
A.D. 1985 by DOUGLAS INVSSTMSNTS CORPORP?TION, a F'lorida
Corporation, hereinaf~er called the mortgagor, to SECORITY AND 5~
INVSSTKENT CORPORATION OF TAS PAL!! BBACBSS, P.O. BOx 14970, y.
North Palm Be~?ch, Florida 33408, hereinafter called the
mortgagee:
WITNSSSETH, that for good and valuable considerations,
and also in consideration of the aggregate sum named in the
promisaory note of ~even date berewith, hereinafter described,
the mortgagor hereby grants, bargains, sells, aliens, remisses.
convegs and confirme ur?to the mortgagee all the certain land o~
which the mortgagor is now seized and in posaession eituate in
ST. LUCIE County~ Florida, viz:
Lot 7, Block 51, RIVER PARR, ONIT NO. 5„ according to the Plat
thereof as recorded in Plat Book 11 , page3~ , St. Lucie
County, Florida.
THIS IS A FIRST MORTGAGE.
Should the 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 beco~e
due and payable at the option of the mortgagee. Assumption of
this mortgage by a mortgagee approved buyer may require
modification of the mortgage note to an interest acceptable to
the mortgagee.
To Have and to HoZcl the same, together with the
tenements, hereditaments and appurtenances thereto belonging,
and rents, issues and profits thereof, unto the mortgagee, in
fee simple.
And the mortgagor convenants with the mortgagee that
the mortgagor is indefeasibly seized of said land ir~ fee simplef
that the mortgagor has good right and lawful suthority to convey
said land as aforesaidi that the mortgagor will make such
further assurances to perfect the fee simple title to said land
and will defend the same against the lawful claims of all
persons whomsoever= and that said land is free and clear of all
encumbrances. ~
, ~ Provided Always, that if said mortgagor shall pay unto
said mortgagee the certain promissory note hereinafter
substantially copied and attached hereto and shall perform, ~
~ comply with and abide by each and every the agreements, ~
~ stipulations, conditions and covenents thereof, and of this ~
~ mortgage, then this mortgage and the e~tate hereby created, I
shall cease, determine and be null and void. ~
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~ And the mortgagor hereby futher covenants and agrees to
~ pay promptly when due the principal and interest and other sums
E of money provided for in said note and this mortgage, or eitherf E
~ to pay all and singular the tazes, assessments, levies, !
" liabilities, obliqations, and encumbrances of every nature on `
said propertyf to permit, commit or suffer no waste, impnirment ~
~ ar deterioration of said lan3 or the improvements thereon at any ;
~ • timef to keep the buildings now or hereafter on said land fully
insured fn a sum of not less than llortgagee's full insurable `
~ interestf fire and extended coverage in a company or companies
acceptable to the mortgagee, the policy or policies to be held
by, and payable to, said mortgagee, and in the event any sum of
money becomes payable by virtue of such insurance the mortgagee
shall have the right to receive and apply the same to the
indebtedness hereby secured, accounting to the mortgagor for any
surplusf to pay a12 costs, charges, and expenses, inc~uding
~ lawyer's fees and title searches, reasonably fncurred or paid b
the mortgagee because of the failure of the mortgagor to
~ promptly and fully comply with the agreementa, stipulations,
~ conditions and covenants of said note and this mortgage, or
4 eitherf to perform, comply with and abide by each and every the
~ aqreements, stipulations, conditions and covenants set.forth in
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