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Home My WebLink About0994 'Phis is a balloon martgage and the t11181 principal paymeiiL c~r ~~?4 k711111:1~1.-il ~a~~.~..~ ..r~., $29,291.88 together with accrued inCerest, if 1ny, and all } advancemettts made by the rnortgagee under the terms of this mortgage. ~ MORTGAG~ UEED AND SF.CURITY AGR~:F.A1ENT Y TNISI~IORTGAGEDEED(theMortgagel,datedasof November 10 ,19 86 ,byandbetween ~ Thomas W. Petrillo ~ (hereinafter caileci Mortgagor) and Sun Bank/Treasure Coast National Association having ar~ of(iceat 111 Orange Avenue, Ft. Pierce, Florida ~hereinattercalledMortgagee); d WITNESSETN, that in consideration of the premises and in order ro secure the payment of twth the p~incipal of, ~ and interest and any olher sums payable on the note (as hereinafter defined) or this Morlgage anJ the perf'ormance and `~l observance of all of the provisions hereof and of said note, Mortgagor hereby g~ants, sells, warrants, conveys, assign1, ~ transfers, mortgages and sets over and oonfirms unto Mortgagee, all of Mortgagor's estate, right, title and interest in, to and under all that certain real proper~y situate in St . Lucie Counry, Florida, more particularly described as follows: Lot 27, Block 201, SOUTH PORT ST. LUCIE UNIT FIFTEEN, according to the Plat thereof, as recorded in Plat Book 16, Pages-42 and 42A through 42~, all of the Public ' Record~ of St. Lucie County, Florida: TOGETHER WITH all improvements now or hereafter located on said real property and all iixtures, applian- ces, apparatus, equipment, furf~ishings, heating and air conditioning equipment, machinery and artictes of personal property and replacement thereof (other than those owned by lessees of said real prope~ty) now or hereafter affixed to, attached to. placed upon, or used in any way in connection with the complete andcomfortabte use, occupancy, or opera- tion of the said real property, all licenses and pern~its used ar required in connection with the use of said real property, F all leases of said real property now or hereafter entered into and all right, title and interest of hlortgagor thereunder, in- cluding without limitation, cash or securities deposited thereunder pursuant to said leases, and all rents, isssues, pru- 1 ceeds, and profits accruing from said real property and together wiih all proceeds of the comersiun, voluntary or Invo- luntary of any ot~ the foregoing into cash or liquidated claims, including without limitation, prcxeeds of insurance and ~ condemnation awards (the f~regoing Said rea1 property, tangible and intangible persona) property hereinafter referrcd t~~ collectively as the Mortgaged Property). Mongagor hereby grants to Mortga~ee a security interest in the foreguing de- ~ scribed tangible and intangible personal property. ` TO HAVE AND TO NOLD the Mortgaged Property, together with all and singular thr tenement~, herrdita- ` ~ menis and appurtenances thereunto Eielonging or in anywise appertaining and the reversion and reversions thereof and ~ all the estate, right, tille, interest, homestead, dower and right of dower, separate estate, possession, claim and dc mand ~ whatsoever. as well in law as in equity, of Mortgagor and unto the same, and every part thereof, ~vith the appurtenances ~ ~ of Mortgagor in and to the same, and every part and parcel thereof unto Mortgagee. X T ~ ~ n ~ Mort a or warrants that Mort a or has a ood and marketable ~itle to an indefeasible fee estate in the real ° a' ~ S'S gg 8 P P-o~~ - erty comprising the Mortgaged Property subject to no lien, charge ur encumbrence except suri~ .is Mortgagee h.» agreed o~~; to accept in writing and Mortgagor covenants that ihis Mortgage is and will remain a valid and enforceable mortgage un d` u '1- the Mortgaged Property subject only to the exceptions herein provided. Mortgagor has full powcr and la~ti~ful authurity Q N ~ to mortgage the Mongaged Property in the manner and form h~rein done or intended hereaRer to be done. hlortgagor a a a~ m will preserve such title and will forever warrant and dcfend the same tu I~longagee and will furevcr u~arrant and dcfend ~ i-- -7 the validiry and priority of the lien hereof against the claims of all persons and parties whomscever. g.~ ~ ~ ~ ~ c ~ t~ t 3 liiii~~ai~"if: ~ii. ai~ ii3~ i.iiSt r,f "'l~rtg."',~,'J:. 3S?'~ :Y:IF:~!!l rY ~rn~P tn M~~~jo~,~cNi•, ~In, rae ri~tC; :{CliflllWlL'(IYL' .1f11~ (~C- _ _ N liver all and every such further acts, deeds, coveyances, mortgages, assig~ments, no~ices of assignment, transfers and Y_ v ~ T assurances as Mortgagee shall from time to time require in order to presen~e the priurit~~ ol~the lien of this Mortgage ur t~~ N cL.~ ~ farilitate the performance of the ternis hereof. ~ - v ~i ~ ~ ~ U PROVIDED, HOWEVFR, that ii Mortgagor shall pay to t~1ortgagee the indebtedness in the principal ~um of d„ N ~ g 31. 000. 00 asevidenced by that certain promissory note Ithe Note),of even date herewith, or any renewal or o~c o a c:~ < 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 all other sums advanced by Mortgagee to or on behalf of Mortgagor pursuant to the Note or this Mortgage, the final maturity date of the Note and this Mortgage as specified in the Note and shall perform all other covenantsand conditions of the Note, all of the termsof whi~h Note are incorporated herein by reference as though set forth ful~ , ~ ly herein, and of any renewal, extension or modification, thereof and of this I~lortgage, thcn this Mortgage and the estate hereby created shall cease and terminate. ~ t~ _ Mortgagor further covenants and agrees with Mortgagee as follows: ';t j' _ - I. To pay all sums, including interest secured hereby when due, as provided (or in the Note and any renewal, ~C . extension or rnociification thereot and in this Mortgage, all such sums to he payable in lawful memey o(the United States of America at Mortgagee's aforesaid principal oftice, or at such other place as hlortgagee may designate in writing. ;L . j 2. To pay when due, and without requiring any notice from Mortgagee, ail taxes, asse,sments of any type or - d nature and other charges levied or assessed against the Mortgaged Property or this Mortgage and prcxluc~ receipts there- fore upon demand. To immediately pay and discharge zny claim, lien or encumbrance against the Mortgaged Propeny - which may be or become superior to this Mortgage and to permit no default or detinquency on any otHer lien, encum- - ~ ~ brance or charge against the Mortgaged Propeny. y~~ M T i ; ~ ~ 3. tf' required by Mortgagee, to also make monthly deposits with Mortgagee, in a non-imcrest bearing ac- - ° , 4C count, together wilh ard in addition to interest and principal, of a sum equal to one-twelfth uf the yrarly taxes and as- • f~~~ o~i? r- ~ sessments which may be~te\ d~inst the Mortgaged Property, and (if so reyuired) one-twelfth o(~he yearly prcmiums ~ for insurance thereon. Thc ah~ount of such taxes, assessments and premiums, when unknuwn, shall be estim~ted by er O~ Martgagee. Such deposits shall be used by I~tortgagee to pay such taxes, ~ssessments an d premiums w hen due. Any in- i 6 sufGciency of surh account to pay such charges when due shali be paid by Mortgagor to Mortgagee :?n demand. If, by ~ . ~ a p~ reason of any default by Mortgagor under any provision of this Mortgage. Mortgagee declares all sums securcd hereby ~~~y.n to be due and paya5le, Mongagee may then apply any furds in said account against the entire indebtedness secured c;{05? I fl~F0939 a-oae4-ooo-~ N 9'Ht