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Home My WebLink About0969 1111~7 lU q Lp11VVl~ 14VL68U~V u~tu s+~~a.+. =.aa..v~.C"~" C~~J"'~"" • ' maturity is $k3,265,00 together{ with accrued interesC, if an}~' ~ and a12. advancements roade by the mortgagee under the terms"of thi~ mortgage, ~a• 6 4.8~ ~1 ~ MORTCAG~ DEBD AND SECUR~TY AGREF.MF.NT lur p6.S'3 ! l7• o 0 THIShtORTGAGEDEEDpheMortgaga),datedasof Octaber 17 , ~q 86,byandbetwecn Robert J. ~.owe ~ ~ - (hereinaftercalledMortgagorland _ J Sun Bank/Treasure Coast National Association . , having an ofCceat 111 Orange Avenue Ft. Yierce, Florida (hereinaftercalledMortgageel; 1yITNESSETN, that in consideration of the premises and in orde~ to secure Ihe payment of both the principai of, and inte~est and any other sums payable on the note (as htreinafter defined) or this Mortgage and the perfom~ance and observancc of all of the provisions hereof and of said note, Mortgagor hereby grants, sells, waRant~, conveys, assigns, transfers, mortgages and sets over and confirms unto Mortgagee, all of Mortgagor's estate, right, title and interest in, to and underall that certain real propertysituate in St . Lucie County, Florida, more particularly described as follows: The North 267.07 feet of Txact C Block 33, INAIAN RIVER ESTATES, UNIT FOUR, according to the Plat thereof, as recarded in Plat Book 10, Page 49, of the Public Records of St. Lucie County, Florida TOGETNER WITH all improvements now or hereaftcr tocated on said real properiy and all fixtures, applian- ces, apparatus, equipment, furnishings, heating and air conditioning equipment, machinery and arlicles of personal property~and replacement thereof (other than those owned by lessees of said real property) naw or hereaRer affixed to, attached to, placed upon, or used in any way in connection with the complete andc~mfortabte use, occupancy, oropera- tion of the said real property. all licenses and pem~its used or required in connection with the use of said real property. ~ al! leases oCsaid real property now or hereafter entered into and all right, title and interest of Morigagor thereunder, in- ~ cluding without limilation, cash or securities deposited Ihereundet pursuant to said leases, and all rents, isssues, pro- _ ceeds, and profits accruing fcom said ieal property and together with all proceeds of the ~ronversion, voluntary or Invo- . ~ luntary of any of the foregoing into cash or liyuidated c(aims, including without limitation, proceeds oi insurance and ` condemnation awards (the foregoing said real property, tangible and intangible personal properiy hereinaRer refeRCd to s collect'rvely as the Mortgaged Property). Mortgagor hereby grants to 4lortgagee a security interest in the foreg~~in~ de- ~ ~z.= scribed tangible and intangible ~ersonal property. i~`= ~ ' i,`; TO Hr~VE AND TO HOLD the Mortgaged Property, rogether with a!1 and singular the tenen~ents, heredita- ' i''' _ ments and appurtenances thereunto belonging or in anywise appertaining and thc reversion and reversions thereof and ~~1.~=:'-' ~ all the estate, right, title. interest, homestead. dower and right of dower, separate estate, possession, claim and demand ~'~-~t,'r,:.::i;. whatscever, as well in law as in equity, of Mortgagor and unto the same, and every part thercof, with the appurtenances of Mortgagor in and to the same, and every part and parcel thereof unto Mortgagee. . ~ - ~h Mortgagor warrants that Mortgagor has a go«i and marketable tide to an indefeasible fee estate in the real prup- ert com risin the Mort a ed Pro rt sub'ect to no lien, char e or encumbrance exce t such as Mort a ee has a reed , Y P 8 8 8 Pe Y 1 S P g' S ~ ' to accept in writi~g and Mortgagor covenants that this Mortgage is and wili remain a valid and enforceable mortgage on - ~ t+ „ ' the Mortgaged Property subject only to th~ exceptions herein provided. ~1orlgagor has full power and lawf:~t authurity to mortgage the Mo:igaged Property in the manner and form herein done or intended hereafter ta be done. Mortgagor ,;i;l~'~ will preserve such ti11e and will forever warsant and defend the same to Martgagee and will forevcr warrant anJ Jefend the vatidity and prioriry of the lien hereof against the claims of all persons an~1 parties whomscever. - ~ Mortgagor will, at the cost of Mortgagor, and without expense to Mortgagee, do, execute, acknowleJge and de- = liver al! and every such fuRher acts, deeds, coveyances, mortgages, assignments, notices of assignment, transfers and ~ assurances as Mortgagee shall from time ro time require in order to preserve the priurity of th~ tien of this Rlortgage or to (acilitate the performance of the terms hereof. ~ - j PROVID ED, HOWEVFR, that if [+9ortgagor shall pay to Mortgagee the indebtedness in the principal sum of ~ a 43,265.00 __asevidencedbythatcertainpromissorynote(theNote>,ofevendateherewith,oranyrenewalor replacement of such Note, executed by Mortgagor and payable to order of Mortgagee, with interest and upon the terms as pro- vided therein, and together with aU other sums advanced by I~4ortgagee to or on behalf of Mortgagor pursuant to the Note or this Mortgage, the final maturiry date of the Note and this Mortgage as speciGed in the Note and shall perform aU other covenants and conditions of the Note, all of the terms of which Nate are incorporated herein by reference as though set forth fu!- _ ly herein, and of any renewat, extension or modification, thereof and o( this Mortgage, ihen this Mnrtgage and the estate hereby . created shalt cease and terminate. Mortgagor further cover~ants and agrees with Mortgagee as follows: - 1. To pay all sums, including interest secured hereby when Jue, as provided for in the Note and any renewal. extension or modification thereof and in this Mortgage, all such sums to be payable in lawful money oFthe United State, of America at Mortgagee's aforesaid principal office, or at such other place as Mortgagee may d~signate in writing_ ~ 2. To pay w~en due, and without requiring any notice from Mongagee, all taxes, assessments o(3ny typf: or nature and other charges levied or assessed against the Martgaged Property or this Mortgage and produce receipts there- ' fore upon demand. To immediately pay and discharge any claim, lien or encunibrance against the h1ortgaged Pruperty which may be or become superior to this Mortgage a~sd to permit na default or delinquency on any otKer 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-twetfth af the yearly taxes and as- ~ sessments which may be tevied against the Mortgaged Property, and (iiso required) one-twelfth of the yearly premiums for insurance thereon. The amoani of such tax~s, assessments and premiums, when unknown. shal! be estinz~ted 1.y ! Moctgagee. 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 ~vhen due shatl be {~aid by Morigagor to Moctgagee :sn dentand. If, by reason of any default by Mortgagor under any provision of this Mortgage, Morlgagee declares all sums secured hereby to be due anJ payaSte, Mongagee may then apply any funds in said account against the entire ~ndebteclness secured - . g~0 5 I~ PAGEO 9 6 5 e-oasa~ooo-~ N s e~