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Home My WebLink About0999 • ~ ~~~i1JV ! /L3 . f~o ~ ~ . : Is.p MORTGAGE DEED AND SECURlTY AGREEMENT , TNIS MORTGAGE DEED lthe Mortga~e?. dated ~sot Sept 3• ,19 8 5 , by and betwan . Stenhen and Joan M. Sample, his wife i Itxrcinatcuc~aUedMacgaaorland Bank of St. Lucie Gounty = ~ i . _ ~ f18Vlflg 811 Q~.~ 111 Oran e Avenue Ft. Pierce, Florida ~ offiocat 9 . (hercinaftercallod[~fongageel: WiTNESSETH, that in consideration of the premists and in order to secure the payment of both the principal of, ~ and interest and any other swns payabk on tht note (as hertir:after defined) oc this Mortgage and the performance and observa.-~ce of all of the provisions hereof and ot said note, Mortgagor hereby grants, sel!s, warrants, conveys, assigns, ; truufers. mortgagas aad sets over and oonfirnts unta Mo~rt6a,~oe, all o( Mort~agor's estate, right, titk and interest in, to ar~d under all that artain rcai propcny situate in ST . LLC ~ e ' Councy, Florida. m«e parcicularly described as [dbws: ; Lot 15, 81ock 89, Indian River Estates - Unit 9, ! Plat Book 10, Page 74, St. Lucie County, Florida. * ~ ~ See Attached Exhibits "A" and "B" ~ ~ ~ < ; TOGETHER WITH all improve~nts now or hereafter located on said real property and all f xtures, apQlian- ~ ces, apparatus. equipment, furnishings. heating and air conditioning equipment. machinery and articles of personal property and replacement thereof (other than those owned by kssees oC said real property) now or hereafter a!'f ixed to, attachod to. placed upon. or used in any way in connection with the complete ancf oom~ortabk use. occupancy. or opera- tion of the said real property, all licenses and permits used or required in connection with the use of said real property, all leases of said real prrperty raw or hereafter entered into and all right. titte and inter~est of Mortgagor thereunder, i~~- cluding without limitation, cash or securities deposited thereunder pursuant to said leases, and all rents. isssues, pro- ceeds. and profits accruing from said real property and together with all proceeds of the conversion, voluntary or inva luntary of any of the foregoing into cash or liquidated claims, including without limitation, proceeds of insurance and condemnation awards (the forcgoing said real property. tangible and intangible personal property hereinafter referred to - collectively as the Mortgaged PropeRy). Mortgagor heceby grants to Mongagee a security interest in the foregoing de- scribed tangible and intangible personal property. TO HAVE AND TO HOLD the Martgaged Property, t~gether with all and singular the tenements, heredita- ments and appurtenances thereunto belonging or in anywise appenaining and the reversion and reversions the:eof and a!! the estate, righl, title, interest, homestead, dower an~ right of dower, separate estate, posses~ion, claim and demand whatsoever. as well in law as in equity, of Mortgagor and unto the same, and ever~ part thereof. with the appurtenances of Mortgagor in and to the same, and every part and parcel thereof unto Mortgagee. Moctgagor warranis that Mortgagor has a good and martcetable title to an indefeasibie Cee estate in the real pn~p- erty comprising the Mortgaged f~roperty subject to ra iien, charge orencumbrance except surh as Mcxtgagee ha~ agreed to accept in w4 iting and Mortgagor covenants tha: this Mortgage is and will remain a valid and enforceable mortgage on the Mortgaged Property subject only to the exceptions herein provided. Mortgagor has full power ar~ law ful authurity ; to mortgage the Mortgaged PropeRy in the manner and form herein done or intended hereafter to be done. Mortgag.or w i~i preserve such title and wil: forever warrant and defend the same to Mortgagee and will forever watrant and defrnd the validity and priority of the lien hereof against the claims of all persons and parties w~.omscever. Mortgagor will, at the cost of Mortgagor, and without expense to Mortgagee, do, execute, acknowledge and de- li~er all and every such further acts, deeds, coveyances, mortgages, assignments, notices of assignment, transfers and assurances as Mortgagee shall from time to time require in order to presen•e the priority of the lien of this Mongage ur to facilitate the performance of the terms hereof_ ~ PROVIDED, HOWEVER, that if Mortgagor shall pay to Mortgagee the indebtedness in the principal sum of ~ ; 5, 4 5 0. 0 0 asevidenced by that cenain promissory note Ithe Notel,'Ha ~eti 2-14-85• ~r any renewal or replacement of such Note, executed by Mortgagor and payable to order of Mortgagee, with interest and upon the terms as pro- v~ded therein, and together with all oth.er sums advanoed by Mortgag~e to or on behalf of Mortgagor pursuant to the Note or this Matgage, the final mawrity 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 of which Note are incorporated herein by referena as though set forth ful- ly herein, and of an;~ renewal, axtension or modification, thereof and of this Mortg,ag~, then this Mcxtgage apd the estate hereby created shall cease and terminate. ~ Mortgagar further covenants and agrees with Mortgagee as follows: 1. To pay all sums, including interest secured hereby when due. as provided for in the Note arsd any renevval, - extension or modification thereof and in th~s Mortgage, all s~ch sums to be payable in iawful money uf the United S:ates of America at Mortgagee's aforesaid principal office, or at such other place as Mengagee may designate in writing. ~ ~ 2. To pay when due, and w~ttwut requinng any notice trom Mortgagee, ali taxes, asse,sments of any type or ~ nature and other charges levied or assessed against the Ma.gaged Property ur this Mortgage and produce receipts there- fore uoon demand. To immediately pay aod discharge any claim, lien or encumbrance against the t~3ortgaged ?ruperty whirh may be or become sup~rior to this Mortgage ancl'.o permit no default or delinquensy on zny otHer liers, encum- t+rance or charge against the Mortgaged Property. 3. If required by Mortgagee. to also make monthly deposit~ with Mortgagee, in a non-~nterest bea:ing ac- count, together with and in addition to interest and Principal, of a s~m equal to one-twelfth of the yearly taxes and as- sessments which may be levied agains~ the Mortgaged Property, and (if so required)~~ne-twelfth of the year~y ^remiums for insurance thereon. The amount of such ~axes, assessments and przmiums, when unk~wwn. ~hall be estimated by Mor.gagee. Such deposits shalt be used by Mortgagee to pay such taxes, assessments and prem;ums when due. Any in- sufficiency of such account to pay such charges when due shall be paid by Mortgagor to Wortgagee on demand. If. hy reason of any default by Mertgag~r unde: any provision of this Mortgage, Mortgagee declares all sums sec ~red hereby to be due and payabte. Mongagee may tt~en apply any funds in said account against the entire indebtedness secu~ed ;-c,.e.-0oo-, N s e, 6n~K ~ I~~ P~~~E ~,l:j~~