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HomeMy WebLinkAbout0938 1K15 1, A DALLWn ~VRIVAVL HPL 1RG r1qhL rA1C1Ll\1 VA 1RL DALAi\VG LVL VtVn 17N1VAll1 iJ ~yl~LVV VV~ i'tIGETH;3R WITH ACCRUED INTEREST IF ANY, AND ALL ADVANCEKENTS MADE BY THE I+(ORTGAGEE UNDER THE TERMS = i~r THIS MORTGAGE. MORTGAGE DBBD AND SLCURITY AGREEMENT I/ t `s rtp=e)~ dated at of June 26 19 85, by and betwroea ~ ~ TH1S litORTGAGE DEBD (the !do , , WILLIAM H. GAFFNEY and MARY E. GAFFNEY, his ~,rife (haninafter called Mort~or) and FIRST ATLANTIC MORTGAGE CORPORATION, having an officx at ~ 14350 S~1 119th Avenue, Miami, FLorida 33186 ~e~~ ~d ya~p~,); ~0• ~ • 1 WITNESSETH. that in consideration of the premisa and in order to secun the payment of both t?~e principal of. and interest and sny other sums psyabk on the note (as l~einaRer defined) cx this Mortgage and the pafocmance and observana of all of the provisions hereof and of uid rate. Mo~tga~or hercby grants. sells. wanants, conveys. assigns. trsnders, morW~es and :ets over and oonfirm: unto Mort~oefiall d Martzayo~'a eaute, right, atle snd intere~ ia, t~ and unQer all ihat artain real proparty dtuate in S. LUCIE , Couaty. ~lodda, mure psrticuLrly dacribed u tollow~: ; Lots 23, 24 and 25, in Block 1226, PORT ST. LUCIE SECTION EIGHT, according ~ to the Ylat thereof, as recorded in Plat Book 12, Pages 38A-381, of the ~p Public Records of St. Lucie County, Florida. L~~~a R~.-^Iv?' S ^P•rment'Of TaxOa . _ . ~ e s~na! Pro::ertY~ , , . . ~ . , _ , ;,cis Of 1971. :,.,,.c:c 'r'4ii:2AS a~L'-~ G.er.. ~~cu' Cour Sf. L ~Tllh TOGETHER W[TH all improvements now or hereafter located on sai~ rca~prope~ty an~a`~' ~x s, appi~an- • ces. apQuatus. oquipment. fumishings, heating and air conditioning oquipment. machinery and articks of personal property anc~ rcpl~cement thercof (other than those owned by lessees of said real propecty) now or hercafter affixed to. attacl~ed to, placod upon. or used in any way in conneciion with the complete andoomfonabk use, occupnncy, aopera- tion of the said real property, all lirenses and permits usod or rcquired in cortnection with the use of said real propecty. all leases of said real pt+nperty now or hereafter entered into and all right. titie ~nd interest of Mortgagor therwnder, in- cluding without limitation, cash or securities deposited thereunder pursuant to said leases, and all r+ents. isssues, pro- ceeds, and profits aceruing from said r+eal property and together with all proceeds of the convenion. voiuntary or invo- luntary of any of the foregoing into cash or liquidatcd claims, including without limitation, procteds of insurance and condemnation awards (the forcgoing said real property, tangible and intangible personal property hereinafter tefernd to collectively as the Mortgaged Property). Mortgagor hereby grants to Mongagee a security interest in the foregoing de- scribed tangible and intangible personal property. ~ Ta HAVE AND TO HOLD the Mortgaged Property, together with all and singular the tenements, her~dita- ments and appurt~nances ther~eunto btlonging or in anywise appertaining and the reversion and reversions theroof and all the estate. right, title, interest, homestead, dower and right of dower, separate estate, possession, claim and demand whatsoever. as wdl in law as in equity, of Mortgagor and unco the same. and every part thercof. with the appurtenances of Mortgagor in and to the same, and every part and parcel thereof unto Mortgagee. Mortgagor warrants that Mortgagor has a good and marketable titl~ to an indefeasible fce estate in the real prop- erty comprising the Mortgaged Prope~ty subject to no lien, charge or encumbrance except such as Mortgagee has agrced to accept in wrif ing and MoRgagor covenants that this Mortgage is and will remain a valid and enforceable mortgage on the Irlorigaged Property subject only to the exceptions herein provided. Mortgagor has full power and lawful authority to mortgage the Mortgaged Property in the manner and form herein done or intended hereafter to be done. Mo~gagor wiil prcserve such tille and will forever warrant and defend the same to Mortgagee and will forever warrant and defend the validity and priority of the lien hereof against the claims of all persons and parties whomsoever. Mortgagof will, at the cost of Mortgagor, and without expense to Mortgagee, do, execute, acknowledge and de- liver ali and every sueh further acts, deeds, coveyances, mortgages, assignments, notices of assignment, transfers and assurances as MoRgagee shall 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. ` FROVIDED, HOWEVER, that if Mortgagor shall pay to Mortgagee the indebtedness in the ptincipal sum of ~ S 47 . 200. 00 as evidenced by that certain promissory note (the Note), dated June 26 ~ € 19 ~6_, or any nnewal or replacement of such Note, sxecuted by 11~ortgagor and payable to ord~r of Mortgagee, ~ with interest and upon the terms as provided therein, and together with all other sums advanced by Mortgagee to or € on behalf of Mortgagor pursuant to the Nate or this Mortgage, the tu?al maturity date of the Note and this Mortgage ~ as apecified in the Note and shall perform all other covenants and conditior~s of the Note, all of the terms of which Note sre incorporated herein by teference as though set forth fully herein, and of any renewal, extension or modifr ~ cation, thereaf and af this Mortgage, then this Mort~age and the sstate hereby created shall cease and termimte. ~ ~ Mortgagor further covenants and agrees with Mortgagee as follows: ` ; 1. To pay all sums, including interest secured hereby when due, as provided for in the Notc and any rcnewal, E extension or modification thereof and in this Mortgage, all such sums to be payable in lawful money of the United States ~ ~ of America at Mortgagee's aforesaid principal office, or at such other place as Mortgaget may designate in writing. ~ 2. To pay when due, and without requiring any notice from Mortgagee, all taxes, assessments of any type or ~ nature and other charges levied or assessed against the Mortgaged Property or this Mortgage and produce receipts there- 3 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 delinquertcy on any otFier 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 bt ievied against the Mortgaged Property, and (if so required) one-twelRh of the yearly premiums ~ for insurance thereon. The amount of such tazes, assessments and premiums, when unknown, shall be estimated by ~ Mortgagee. Such deposits shall be used by Mortgagee to pay such taxes. assessments andpremiums when due. Any in- ~ sufficiercy of such account to pay such chargts when due shall be paid by Mortgagor to Mortgagee on demand. If, by ~ - rcason of any default by Mortgagor under any provision of this Mortgage. Mortgagee declares all sums secured hertby ' ~ to be due and payable, Mortgagee may then apply any funds in said account against the entire indebtedness secured ; ~ E~~~.5~2 ~avE 9~7 ~ ~ ~ ~ .w,.~ - ~ ~ _ ~ _ ~ - ~ f:;;~ y,~ - ,~,~a= - - ~ !