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Home My WebLink About0944 i ~ '71~913 ~ ~ MORTGAG~ DEED AND SECURlTY AGREEMENT THISMORTGAGEDEED(theMortgage?,datodasof ~-~,19 85 ,byandbetween I~II~.TH RALPH KOI-iQV and NANCY DEAN KOF~N~his wife IhereinaftercallodMortgagaland OF ST. LLICIE COUIJI'Y, a Florida banking Co ratioil , having an officeat 111 Orange Avenue. Fort Pieroe Florida 33450 ~txreinaftercalledMortgageel: W ITNESSETH, that in consideration of the premises and in order to secure the payment of both the principal af, and interest and any other sums payable on the note (as hereinafter defined) or this Mortgage and the performance and observa~r-e of all of the provisions hereof and of said note, Mortgagor hereby grants, sells, warrants, conveys, assign~, transfers, mortgages and sets over and confirms unto Mortgagce, all of Mortgagor's estate, right, title and interest in, to - and under all that certain real property situate in St I~Lx'~ ~ ' County, Fbrida, more particularly described as follows: l~ Unit No. 402, _of the TREASUFtE COASP MEDICAL CENI~R, a Condominitm and being ~1~~ further described in that oertai.n Declaration of Condaniniun file~ Deo~er 10, '1 1984 in Official Reoords Book 450 Pages 598 through 697 inclusive, and +1 . arenc~ed in Official I~ecards Book 4~i3, Pages 65? through 6'iQ, inclusiv~e, of the ~ Public Records of St. Lucie Count , Flori.da TOGE.~R with the exhibits attached thereto and made a part ~hereof, anc~ together with an undivided share in the canron elements appurtenant thereto. 4 TOGE'THER W1TN all improvements now or hereafter located on said real property and all fixtures, applian- . ces, apparatus, equipment, furnishings, heating and air conditioning equipment, machinery and articles of personal property and replacement thereof (other than those owned by lessees of said real property) now or hereafter affixed to, attached to, placed upon, or used in any way in connection with the complete andcorntortable use, occupancy, oropera- tion of the said real property, ali licenses and permits used or required in connection with the use of said real property, all leases of said real property now or hereafter entered inzo and all right, title and interest of Mortgagor thereunder, in- ; cluding without limitation, cash ar securities deposited thereunder pursuant to said leases, and all rents, isssues, pro- ceeds, and profits accruing from said real property and together with ail proceeds of the conversion, voluntary or invo- luntary of any of the foregoing into cash or liquidated claims, including without limitation, proceeds of insurance and : condemnation awards (the foregoing said real property, tangible and intangible personal property hereinafter referred to ~ ~ collectively as the Mortgaged Property). MoRgagor hereby grants to Mortgagee a security interest in the foregoing de- scribed tangible and intangible personal property. ~ ~ ~ TO HAVE AND TO HOLD the Mortgaged PropeRy, together with all and singular the tenements, heredita- _ ri ments and appurtenances thereunto belonging or in an~wise appertaining and the reversion and reversions thereof and ` ~ all the estate, right, tide, interest, homestead, dower and right of dower, separate estate, possession, claim and demand ~ o whatscever, as well in law as in equity, of Mortgagor and unto [he same, and every part thereof, with the appurtenances _ ~ ~ of Mortgagor in and to the same, and every part and parcel thereof unto Mortgagee. 3 _ ~ ~ Mortgagor wanants that M~rtgagor has a good and marketable title to an indefeasible fee estate in the real prop- ~ ~ erty comprising the Mortgaged Property subject to no lien, charge or encumbrance except such as Mortgagee has agreed to accept in wriling and Mortgagor covenants that this Mortgage is and will remain a valid and enforceabte mortgage on the Mortgaged Property subject only to the exceptions herein provided. Mortgagor has full power and lawful authority ~ to mortgage the Mortgaged PropeRy in the manner and form herein done or intended hereafter to be done. Mortgagor y will preserve such tide and will forever warrant and defend the same to Mortgagee and will forever w~arrant and defend : ~ the validity and priority of the lien hcreof against the claims of all persons and parties whomscever. _ - U - Y Mortgagor will, at the cost of Mortgagor, and without expense to I~9ortgagee, do, execute, acknowledge and de- ~ liver all and every such further acts, deeds, coveyances, mortgages, assignments, notices of assignment, transfers and assurances as Mortgagee shail 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 ; PROVIDED, HOWEVER, that if Mortgagor shali pay to Mortgagee the ind~btedness in the principal sum of ~ 5 9~~ ~~0 _ ~0 _ as evidenced by that certain promissory note Ithe Note1, of even date herewith, or any renewai or E replacement of such Nore, executed by Mortgagor and payable to order of Rlortgagee, with interest and upon the terms as pro- E vided therein, and together v?ith all other sums advanced by Mortgagee to or on behalf of Mortgagor pursuant to the Note or tbis Mortgage, the final naturity date of the Note and this Mortgage as specified in the Note and shall perform all other covenants and conditions of the Note, all of the terms ef which Note are incorporated herein by reference as though set forth ful- ; ly herein, and ot any renewal, extension or modification, thereof and of this Mortgage, then this Mortgage and the estate her~by ~ created shall cease and terminate. i E Mortgagor further covenants and agrees with Mortgagee as follows ~ ; ~ ~ 1. To pay all sums, including interest secured hereb} when due, as provided for in th~ Note and any renewal, i s ~ extension or moclification thereof and in this Mortgage, all such sums to be payable in lawful money of the United States ~ of America at Mortgagee's aforesaid pnncipal office, or at such oiher place as Mortgagee may designate in writing. ri ~ 2. To pay when due, and without requiring any notice from Nlortgagee, all taxes, assessments af any type or ~ nawre and other charges levied or assessed against the Mortgaged Property or this Mortgage and produce receipts there- - .~~i fore upon demand. To immediately pay and discharge any claim, lien or encumbrance against the Mortgaged Property which may be or become superior to this Mortgage and to permit no default or delinquency on any otNer lien, encum- brance or charge against the Mortgaged Property. ~ 3. If required 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 equal to one-twelfth of the yearly taxes and as- ~ ? sessments which may be levied against the Mortgaged Property, and (if so required) one-twelfth of the yearly premiums , ' ~ for insurance therean. The amount of such taxes, assessments and premiums, when unknown, shall be estimated by % e; Mortgagee. Such deposits shall be used by Mortgagee to pay such taxes, assessments and premiums when due. Any in- ~ sufficiency of such account to pay such charges when due shall be paid by Mortgagor to Mortgagee on demand. If, by ~ c'-! reason of any default by Mortgagor under any provision of this Mortgage, Mortgagee declares all sums secured hereby ; ~ ^ o to be due and payable, Mongagee may then apply any funds in said account against the entire indebtedness secured ; w ~ i a-waa-ooo-~ N s e~ iK `i~~~ ~'l4~E ~ ~ F ~:%.i .+.'~.5< t . -::.,L ~ . ; _ .v is. [ ~ :