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MORTGAGE AND SECURITY AGREEMENT
(ADJUSTABLE RATE)
THIS MORTGAGE DEED, made and executed this 30th day of December ,
A.D., 1986, by WWH CORPORATION, a Florida corporation, hereinafter
collectively called "Mortgagor", in favor of HARBOR FIDERAL SAVINGS AND LOAN
ASSOCIATION, a corporation organized and existing under the laws of the United
States of America, whose address is 100 South Second Street, Fort Pierce,
Florida 33450, hereinafter called "Mortgagee".
WITNESSETH, that: ~
This mortgage is given to secure a 3ust debt to the Mortgagee, as evi-
denced by a certain Promissory Note of even date herewith made by the Mortga- '
gor and payable to the Mortgagee in the principal sum of t
TWO HUNDRED NINETEEN THOUSAND AND NO/100 DOLLARS ~
($219,000.00 together with
interest, subject to ad3ustment at one-year intervals, payable as stated
therein, with the balance of the indebtedness, if not sooner paid, due and
payable on September 1, 2007 , and provides, among other things,
for acceleration of principal in the event of default, and for the payment by
Mortgagor of attorney's fees and costs of collection,the provisions of said ~
Note to which reference is herein made being by reference made a~art of this Cb'
Mortgage as though the same were fully set forth herein.
NOW THIS MORTGAGE DEID, WITNESSETH, THAT for good and valuable consider-
j ations and also in consideration of the aggregate sum named in [he Promissory
f, Note of even date herewith, hereinabove described, the Mortgagor hereby
grants, bargains, sells, aliens, remises, conveys, and confirms unto the
" Mortgagee all the certain land of which the Mortgagor is now seized and in
~ possession, situate in St. Lucie County, Florida, more particularly described
t[, as follows:
' ci
~ Lot 12, Black 6, a replat of Lots 2 through 14 of Block 6, AIRPORT
INDUSTRIAL PARK UNIT ONE, according to the Plat thereof as recorded
' in Plat Book 20, Page 3, af the Public Records of St. Lucie County,
i~L '?r~i Florida.
~
TOGETHER WITH ALL AND SINGULAR THE TENEMENTS, HEREDITAMENTS, AND APPURTE-
V NANCES and all structures, buildings, and improvements of every kind and
description now or hereafter on said land, and all fixtures attached thereto,
~ including but not limited to, all gas, steam, electric, water, heating, cook-
ing, refrigerating, lighting, plumbing and ventilating systems, machines,
i~'~ appliances, air conditioning equipment, stoves, ranges, elevators and motors,
~ r,
~~~~~bathtubs, sinks and other plumbing fixtures, furniture, shades, awnings,
~ ~~screens, blinds, and other furnishings; and TOGETHER WITH all rents, issues,
~ _ proceeds and profits accruing and to accrue from said premises, all of which
are included within the foregoing description and the habendum thereof; and
all articles of personal property now or hereafter attached to or used in and
about the building or buildings n~w erected or hereafter erected on said real
property, and all renewals or replacements thereof or articles in substitution
thereof, upon all of which said personal property, appliances, equipment and
fixtures, the Mortgagee shall have a security interest; and FURTHER TOGETHER ;
WITH all surveys, architectural studies, plans and specifications, all engi-
; neering studies, plans and specifications, and all other materials of a ~
professional nature now owned and possessed by Mortgagor or subsequently '
acquired by Mortgagor for the development of the herein described real proper-
ty.
AND the Mortgagor does hereby covenant with the Mortgagee that they are
indefeasibly seized of said land in fee simple; that they have full power and
lawful right to convey said land in fee simple as aforesaid; that it shall be
- lawful for the Mortgagee at all ti~es peacably and quietly to enter upon,
" hold, occupy and enjoy said land sub~ect to equitahle principles imposed by
- ~ Florida Law; that said land is free from all encumbrances, other than the lien
for ad valorem real property taxes accruing subsequent to December 31, 1985
~ and other than any encumbrances referred to in the legal description of the
mortgage premises or listed upon a separate schedule of "Permitted
Encumbrances appended hereto; that they will make such furthex assurances to
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