HomeMy WebLinkAbout0984 832~82 ~'i' ~
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In Payment O) Taxes ~ p :
F p~~~con~t P:oP~t1y.
FOR NOME ~QUITY CREDITLINES Rece~ve~ S~--'i; s~~,~, ;~e
Cu~ C?n C~'SS ~efr71, 13a, Atts O) 1971.
Purs•-:;nt jo C P A/
p~,t1%;tAS U;X~)N, Fla.
Clcrk Circu~~ C~~r~, SI. Lut~e. ~a• ~
Mortgaga and Security Agreement ~
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This Mortgage is made lhis 16th day a June, 1987 by and between
Robert C. DeBartolo and Della R. DeBartolo ,
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("Mortgagor"), and Bameri Bank of St. Lucie County ~
("Mortgagee ~
the address ot which is 400 EaGt Pr ma Vista B vd L Port St. Lucie. FL ~33452
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Witnesseth:
WHEREAS, Mortgagor and Mortgagee have entered into an agreement whereby Mortgagor may borraw trom Mortgagee
an undetermined surr~ not to exceed the maximum principal sum of***~NTY FIVE THOUSAND & 00/l0U***
together with interest thereon, all as evidenced by the Cred~iLine Agreemenl
(the ' Agreement") d even date herewith, executed by Mortgagor and delivered to Mortgagee, whereunder the outstanding
advanced principal may tluctuate up and down from time to time, and all sums advanced under the Agreement or otherwise
awed under the Agreement pertaining thereto shall be s~cured hereby, and no notice oi any advance need be recorded to
evidence such advance. The Agreement by reference is made a part hereo( to the same extent as ihough set out in lutl herein;
NOW, THEREFORE to secure the pertormance by Mortgagor oi alf covenants and conditions in tha Agreement and in this
_ Mortgage and in all other instruments securing the Agreement, and in order to charge the propert+es, interesis and rights
hereinafter described with such payment and per~ormance and to secwe additiona! advances, renewals and er.tensions thereof
and lor and in consideration d the sum ot Ten and nN100 Ddlars {$10.00), Mortgagor does hereby mortgage, sell, pledge
and assign to Mortgagee:
The Mortgaged Prope~ty
(A) AII ot the land in the county d St Lucie , described below:
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Lot 1, Block 701, PORT ST. LUCIE SECTION EIGHTEEN, according to the Plat th@rr~nf~ ;
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recorded in Plat Book 1 Pa es
to hav~e and to hold the same, togeiher w,th all the improvements now or herea er erect §uch prope ~i and all fixtures
now or hereafter attached thereto, together with each and every tenements, hereditaments, easements, rights, po~w~ers, privileges,
immunities and appurtenances thereunto belonging or in anywise appertaining and the reversion and re~versions, remainder
and remainders, and also all the estate, right, title, interest, homestead, right d dower, separate estate, property, possession
and claim whatsoever in law as wet( as in equity ot Mortgagor d, in and to the same in every part and parcel thereof unto -
Martgagee in fea simple.
(B) Together with a security inierest in aN fixtures atfixed to and pe~sonat property, exclud+ng household goods which are
not purchased with ihe proceeds ot the Agreement, located on the propeRy described in paragraph (A).
(C) Together with all rents, issues, prol+ts, revenue, ir~come and other benefits from the property described in paragraph
(A) hereof to be appfied to the indebtedness secured hereby, provided however, thai permission is hereby given to Mortgagor
so tong as no default has occurred hereunder, to collect, receive, and use such bene(its irom the property as they become
due and payable, but not in advance thereof. •
(D) Everything re(erred to in paragraphs (A), (B) and (C) hereaf and any additional property hereafter acquired by _
Mortgagor and subject to the lien d this Mortgage or any pa~t of these properties is herein re(erred to as the "Mortgaged Property" '
PROVIDED ALWAYS, that ii Mortgagor shall pay to Mortgagee the Agreement at the times and in the manner stipulated ~
therem, and in all other instruments securing the Agreemenf, including renewdts, extension or modification thereoi, and in ~
this Mortgage and in all other i~struments securing the Agreement, to be kept, pertormed or observed by Mortgagor, then
this Mortgage, shaJl cease and be void, but shall otherwise remam in tull torce and eftect. '
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Mortgagor cov~enants and agrees with Mortgagee as tollows:
1. Compliance wfth Agneement and Mortgage; Warranty af Title. Mortgagor sha)I comply with a11 prov,s;ons of the
Agreement, this Morigage and of every other instrument securing the Agreement, and will promptly pay to Mortgagee the
principal wiih interest thereon and a11 other sums required to be paid by Mortgagor unde~ the Agreement and pursuant•to
the provisions ot this Mortgage and oi every other instrument securing the Agreement. Mortgagor cavenants that Mortgagor
owns and is ind~(easibly seized of the Mortgaged Property in tee simple, that the Mortgaged Property is free Irom all
encumbrances except as noted in the legal description above, that Mortgagor has law~ul auihority to convey, mortgage and
encumber the same as provided by the Mortgage, that Mortgagee may peaceably and quietly enjoy the Mortgaged Property,
and that Mortgagor will defend the Mortgaged Property against the claims of all persons whomsoe,rer, and that Mortgagor
so warrants.
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NO DOCUMENTARY $TAMP TAX !S DUE AND PAYABLE HEREON SINCE THE AGREEMENT SECURED
HEREBY IS NOT A PROMISE TO PAY A SUM CERTAIN. RULE 128-4.52(6), F.A.C.
AM D~e.w~s ebtr,ns are U:sd~'a ;t0227 itev Nw 86 IU9~7)
BooK 547 P~~E 98~
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