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Home My WebLink About0999 ~i, ~'~1.~0 Mortgage and Security Agreemsnt This Mortgage is made this 12~ day ot _ April. 1985 by and between AJT OONSTRUCTICN C~ORP. ~2, a Florida oorporation, ("Mortgago~"), and Barn~tt Bar+k ot St. Lucie Cbtmty ("Mortgagee"), the address of which is 900 East Prima Vista Blv~d. ~ Fort St. Lucie, Florida 33452. WfTNESSETH: WHEREAS. Mortgagor is indebted to Mortgagee in the principal sum of ONE HUNDRID TEiII~TY-SE~III~l ZI~iWSAND FIVE HUNDRID & 00/100together with interest thereon, as evidenced by that certain promis- sory note of even date herewiih, executed by Mortgagor and delivered to Mortgagee, the final payment of which is due on or before the 12th day of ~v, 1986. (the "Note"), which by reference is made a part hereof to the same extent as though sei out i~ full herein; NOW, THEREFORE to secure the performance by Mortgagor of ali covenants and co~ditions in the Note and in this Mortgage and in all other instruments securing the Note, and in order to charg~ the properties, interests and rights here+naRer described wiih such payment and performance and to secure additional ~ advances, renewals and extensions thereof and for and in consideration of the sum of Ten and no/100 ~ Doltars ($10.00). Mortgagor does hereby mortgage, setl, pledge and assign to Mortgagee: THE MORTGAGED PROPERTIf (A) All of the fand in the county of St. Lucie , described below: SEE SQ~ULE A ATI~1Q-iF~ HEREIC) AND MADE A PART HERD(3F . ~ . ~ to ha~fe and to hold the same. together with all the improvements now or hereafter ecected on such property l and all fixtures now or hereatter attached tnersto, together with each and every tenements, hereditaments, : easements. rights. powers. privileges, immunit~es and appurtenances thereunto belonging or in anywise ~ appertaining and the reversion and reversions. remainder and remainders, and also aN the estate, right, title. . interest, homestead. right of dower. separate estaie. property, possession and ciaim whatsoever in law as : welt as in equity of Mortgagor of. in and to the same in every part and parcel thereof unto Mortgagee in fee , ; simple. (B) Together witii a security interest in all personat property and fixtures affixed to or located on the ~ proFerty described in paragraph A. ~ (C) Together with all rents. issues. profits. revenue. income and other benefits from the property de- - . ~ scribed in paragraph (A) herecf to be applied to the indebtedness secured hereby. provided however, that ~y ~ ~ permission is hereby given to Mortgagor so long as no deiault has occurred hereunder. to collect. receive. and use such benefits from the property as they beconie due and payable. but not in advance thereof. (D) Everything refierred to in paragrapF?s (A). (B) and iC) hereof and any addit+onal property hereafter acqui!ed by Mortgagor and subject to the f~en of this Mortgage or any part of these properties ~s herein reterred to as the "Mortgaged Property " PROVIDED ALWAYS. that if Mortgagor shall pay to Mortgagee the Note at the times and ~n the manner siipula?ed ihe;ein. and in all other instruments securing the Note incl;.rding renewats. extension or modi- !ication thereof. and in this Mortgage and in all other instruments securing the Note. to be kept. performed or observed by Mortgagor, then this Mortgage. shall cease and be void. but shall othenvise-remain ~n fulf force an~ effect . Mortgagor covenants and agrees with Mortgagee as follows: t Compliance with Note and Mortgage; Warranty of Tit{e. Mortgagor shail compiy with al! pro- visions of ;he Note. this Mortgage and of every other instrument secunng the Rote. and will promptly pay to Mortgagee the principal with interest thereon and a!I other sums required to be ~aid by Mortgagor under the Note and pursuant to the provisions of this Mortgage and of every other ins!rument securing the Note. Mortgagor is indefeas~bly seized of the Martgaged Property in fee simple and Mortgagor has lawfu! authority to convey. mortgage and encumber the same as provideci by the Mortgage. and does hereby so warrant. 2 Payment of Taxes and Liens. Mortgagor shalV pay all the taxes. assessments. levies. liabi~ities obligat~ons and encumbrances of every nature now on the Mortgaged Froperty or tha: hereafter may be imposed. levied or assessed upon this Mortgage or the Mortgaged Property or upon the indebtedness ~ secured hereby Ali such payments to be made when due and payab!e according to law before they ~ become delinq~.,ent and before any interest atiaches or any penalty is incurred. Irsofar as any indebtedness ~ . is of record !he same shall be promptly satisf~ed and evidence ot such satisfaction shall be given to ~y . Mortgagee t 3 InsuranCe. Mortgagor shall keep the Mongaged Property and the improvements now existing or ~ hereafter erected on the Mortgaged Property ~nsured as may be required trom tirne to t+me by Mortgagee againsi loss by fire. other hazards and contingenc~es in such amounts and tor such perioos as may be , req!aired by Mortgagee Mortgagor shall pay prom~tly. ;n~hen due any premiums on such insurance All , insurance shall be carried with companies approved by Mortgagee and the policy and renewals thereof shall be held by Mortgagee and have attached therLto loss payable clauses in favor and in form acceptabie to Mortgagee in ths event of ioss. Mortgagor shaA give immediate notice by mail to Mortgag~e and Mortgagee may make proof of loss if not made promptly by blortgagor. Each insurance company concerned ~s hereby authorized and d~rected to make payments tor such loss direcily to Mortgage2 instead of either to Mortgagor or Mortgagor and Mortgagee pintly insurance proceeds or any ~art ,herPOf may ~e app~~ed by . ~ st;r:±``x.'7 ,,.b~~ _ .,~.::r r _ ~r-