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Home My WebLink About0991 ' t--~ ~2~8~5 U ~ ? ~ . _ " i , . ;~_''r R:F ;.~.':z:t~,E , ~ - ' , ~t.~=. ! 5. 0 0 ! K" „ Pe. NAY22'e1 ~ ~ MORTGAGE DEBD AND SECURITY AGRBEMENT r~~ THISMORTGAGEDEED.(theMortgs~e),datoduot M~y 15 ,19 87 ,byandbetwan ROSS EARL MEADOWS, JR. and BEVERLY KAY MEADOWS (hereinattacxUodMortg~orland SUN. BANK TREi3SURE ~OAST, N.A , having an oftweac 111 East Osceola St. , Stuart, Florida (hereinattcrcallodMortgagal; WI7NESSETH. that in considerntior? ottl~e prcmises and in orde~ to securc the payment of both ~he principal of. _ - and inten:st and any wher sums payabk on tt~e note (as hereinafter defin~d) or this Mortgr.ge and the pertormance and observance of all of the provisions hercof and of said note. Mongagor hercby grants, sells. warrants, conveys, assiga~. t~ansfus, mortg~a~es u~d sets over and oonGrnu unto Mortgs~oe, sll of Mortgaga's estate, right. titk and interest in, to and urMer aii that artain rcal property situate in St - T•»S ~ e County, Florida, more particularfy deacribed as folbws: " Lot 13, Block 3317', FIRST REPLAT OF PORT ST. LUCIE SECTION FORTY=TWG, according to the Plat thereof, recorded in Plat Book 18, pages~l8A through 18J inclusive, of the Public Recorda of - St. Lucie County, Florida. TOGETHER WITH all improvements now or hereafter located on said roal property and all fixzures, applian- ces, apparatus, equipment. fumishings. heating ar~d air conditioning equiprtxnt. machinery and artictes of personal propeny~and rcpiacement thercof (othe~ than those owned by lessas oi said real propeny) now or hereafter affixed to, attached to. placed upon. or used in any way in connection with the complete andoomfottabk use. occupa~uy. or opera- ~ tion of the said real property, all licenses and pennits uscd oc tequircd in connection with the use of said reai QroQerty, - all leases of said real propeAy now or hercatfkr entercd into and all right, titk and interest of Mortgagor thercunder. in- ctuding without limitation. cash or securities depositod thercunder pursuant to said leasts. and all rents, issues. pro- ceeds. and profits accruing irom said rea! propetty and together with all proce,eds of the convetsion. voluntary or Inva luntary of any of the foregoing into cash or liquidated claims, including without limitation. pmceeds of insurance and _ c~demnatian swar~s (the forcgoing said real ptopeny. tangibk and intangible personai property hereinafter referred to collectively as the Morigaged PrapeRy). Mortgagor hercby grants to Mwtgagee a security interest in the foregoing Je- scribed tangible and intangib{e perscmaf property. TO HAVE AND TO HOLD the Mortgaged Praperty, together with all and singular the tenements, heredita- ments and appurtenances thcreunto belonging or in anywise appertaining and the reversion and reversions thereof and all the tstate, right. titie. interest. homestoad. dower and right uf dower. separate e~tate, possession, claim and demand whatsoever, as well in law as in equity. of Morigagor and unto the same, and every part thereof, with the appurtenances , of MoRgagor in and to the same, and every part and parce) thercof unto Mongagce. ~ Morigagor wairants that Mortgagor has a good and marketable title to an indefeasible fee estate in tt~e real prop- eRy comprising the Mort~aged Propeny subject to no lien. charge orencumbrance except such as Mortgagee ha~ agreed ' to accept in writing and NI'ortgagor covenants that this 1Viortgage is and will remain a valid and enforceable mortgage un _ the Mortgaged Propeny subject only to the exceptions hercin provided. Mortgagor has full power and lawful au~twrity . to mortgage the Mo:tgagod Property in the manner and form herein done or intended. hereaRer to be done. Mortgagor will prcserve such title and wil) forever warrant and defend the same tu Mortgagee and will torover wamant and ciefrnd ttx validity and priority of the lien hec+eof against the claims of all persons and parties whomsoever. Mortgagor will, at the cost of Morigagor. and without expense to Mortgagee, da, execute, acknowledge anci de- liver all and every such further acts. deeds, coveyances, mortgages, assignments, rwtices uf assignment, transfers and assurances as Mortgagee shall from time to time rcquire in order to preserve the priurity of the lien of this Mortgage or to facilitate the performance of the terms hereof. p VjD~p HOWEVER, that it Mortgagor shall pay to Mwtgagee the indebte~ness in thc principal sum of ~ : 10 ,~00 . 0~ asevidenoed by that cxrtain promissory note Ithe Note).of even date herewi~h. orany renewal or rcplsoernent uf such Note, exoFUtod by Mortgagor and peryabk to ordu ot Mortgagee. with interest and upon the terms as pro- vidod titierein~ and to~etFrtr with all other sums ~vanood by Mortga~oe to a on behaft of Mortgagor pursuant to the Note or this Mortg,age, the Cnal maturity date of the Note and this Mortgaga as spa:ified in the Note and shall perform all wher covtnants and caditions of the Note. aH af the tem~s of which Note arc inoorporated herein by referena as though set fath ful- ly herein, and of any renewal. eztension or modification. theredand of this Mortgage. then this Mortgage and the estate hereby creatod shall oease and terminact. Morigagw fu~ihercovenants and agras with Mortgagee as fol{ows: 1. To pay all sums. including intercu securcd her~eby when dtee. as provided for in the Note and any renewal. extension or modification thereof and in this Matgage. al! such sums to be payable in lawful maney of the United States of America at Mortgagee's aforesaid principal office, or at s~h other place as Mottgagee may designate in writing. , 2. To pay whcn due. at~d without rcquiring any notice from Mortg,:~gee, all taxes, azscssments of any type or nature and dher ch~rges levied or assessed againu tfie Mortgaged Properiy ar this Mortgage and produce rcceipts tt~rc- forc upon demand. To immediately pay and discharge any claim. lien or encumbrance against the Morigaged Pruperiy which rrwy be or become superior to this Matgage and to permit no default or delinquency on any otlie~ lien, encum- brance or charge against the Mo~tgaged Propeny. - _ 3. If required by Mortgagee. to atso make monthly depasits with Mortgagee. in a non-interest beanng ac-~' ~ count. together with and in addition to interest and principal. of a sum equal to ur~e-tweifth of the yearly wxes a~c1•as- sessments which ma~be kvied against 1he Mortgaged Property, and (if so requircd) one-twelfth of the yearly pre~iums ~ 4-0~8r-000•1 q41e6 ~ . . . _ _ _ . _,~_.~w...___._.....---- ~