HomeMy WebLinkAbout0923 . ~ ~ ;
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' Mortgega and Secu~ity Agrssmsnt ~
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This MoRgage is m8de ihis 23rd day ot F~~BRUARY~ 1987 by and between
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DOIv J. ALBRIGHT, SR. AND PATSY R. AL$RIGHT , HIS WIFE
• ("Mortaaoor"), and Qa~n~tt eank of MARTIN COUNTY,N.A. (••Mortgagee"?.
~ihe address of which is 1778 NE JENSEN BEACH BLVD. , JENSEN BEACH, FL. 33457 ~
Witrnss~th:
WHEREAS. Mortgagor is indebted to Mortgagee in 1he principa~ sum of THIRTY THOUSAND AND 00/100-- •
------------DOLLARS ~ogelher wi~h interest thereon, as evidenced by that certain promissory note ot even date
~ herewith, executed by Mortgagor and delivered to Mortgagee. the tinal payment of which is due on or beforethe 23rd
dey a FEBRUARY. 1988
(the "Note"). which by reference is made a part hereo( to the same extent as though set out in full herein: ~
NOW. THEREFORE to secute the pertormance by Mortgagor of atl covenants and condilions in the Note and in this ~
Mortgage and in atl other instruments securing the Note. and in order to charge Ihe propeAies, interests and ~ights hereinaNer ~
df~3crioed wiih such paymeni and perl~rmance a!~d t~ secure additional advances. renewals and extensans thereof and for
End in consideration of the sum ot Ten and no/ 100 Doltars (S10.Q0). Mortgagor does hefeby moAgage, seU, ptedge and assign
to Mortgagee:
' T1~e Mort~agsd Propsrty
(A) All of the land in the county of ST. LUCIE COUNTY , described below:
SEE ATTACHED EXHIBIT "A"
to have and to hold the same. togethe?with all the improvemenis now or hereafter erected on such property and all fixtures now
a hereaher attached thereto. togelher with each and every tenements. hereditaments. easements, rights. powers, privileges.
immunities and appurtenances thereunto betonging or in anywise appertai~ing and the reve.~sio~ and reversions. remainder
and remainders, and also all the estate. right. title. interest. homestead. right of dower. separate estate. property, possession
and claim whatsoever in law as wetl as in equity ot Mortgaga of. in and to !he same in every part and parcel thereof unto •
Mortgagee +n tee simple.
'i (8) Togeiher wiih a secwity interest in all personal property and fixtures affixed to or located on Ihe property described in
paragraph A.
(C) Togelher with all rents, issues. protits. revenue. inoome andother benefits fromthepropertydescribed in paragraph (A)
~ hereof to be applied to the indebtedness secured hereby. provided however, that permission is hereby given to Mortgagor so
' long as no default has occurred hereunder, to collect. receive. and use such benelits (rom the property as they become due
and payabte. but not in advance lhereof.
(D) Everything referred to in paragraphs (A). (B) and (C) hereot and any additional property hereafter acquired by
Morigagor and subject to the Iien oi this Mortgage or any part of these properties is herein reterred to as the "Mortgaged
PropBrty...
PAOVIDED ALWAYS. ihat ii Mortgagor shall pay to Mortgagee the Note a1 the times and in the manner stipulated therein,
and in all other i~struments securing the Note, including renewa?s. extension a modificationthereof, and in this Mortgage and
in all other instruments securing the tdote, to be kept. performed or observed by Mortgagor, then this Mortgage. ~hafl cease and
be void. but shall otherwise remain in full force and effed.
Mortgaga covenanls and agrees with Mortgagee as totlows: ~
1. Compllanc~ wfth Not~ ind ~IIoN~~~ Waninty of Titta Mortgagor sha11 comp~y wiih aN provisions oi the Note.
this Mortgage and of every other instrument securing the Note, and will promply pay to Mortgagee the principal with interest
thereon and all other sums reQuired !o be paid by Mortgagor under the Note and pursuant to the provisions of this Mortgage ~
and of every olher instrumeM securing the Note. Mortgagor covenants that Mortgagor owns and is indefeasibly seized ot the ~
Mongaged Property in fee simple. that ihe Mo~tgaged Property is free from all encumbrances except as noted in the tegal '
description ab~ve. that Martgagor has lawtut authoriry to convey, mortgage artd encumber the same as prov~ded by the ~
Mortgage. that Mortqagee may peaceabty and quielly enjoy the Mo?igaged Property, and that Mortgagor will de(end the
Mortyaged Property against the ctaims o! all persons whomsoever, and that Mortgagor so warrants.
2. Paynwnt of Tax*s and LlMS.. Mortgagor sha~! pay a!I the taxes, assessments, levies, Gabilities, obligations a~d
encumbrances ol every nalure now onthe MoRgaged Property or that hPreafte~ may be imposed. levied or assessed upon this
Mortgage or the Mortgaged Property a upon the indebtedness secured hereby. All such payments to be made when due and
payable according to law betore they become delinquent and before any interest attaches cx any penatry is incurred. lnsofar as
any indebtedness is at record the same shall be promptly satis6ed and evidence of such satisfaction shau be given fo
Mongagee.
3. le~sunnp. Mortgagor shalt keep the Mortgaged Property and the improvements now existing or hereaRer ereded on
P~hnws ~bbn d fs0 b1 rrry bf uesd. OFi6A?t R~v Nw 8~ (1AOQ)
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