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HomeMy WebLinkAbout0930 /Q . ~,i . 2;; 31 ~ • 1 ~ ~ ~ ~ ~ FOR NOMt EQUITY CREDITIIFJES ~-O ~ Received In Paymen! O~ Taxes Dur On C~,« "l" !^~;~nn`l-(" P~.rsona' ?raPcrly. ; ~ ' cr 'll, '.3d, Acts Ot i9%1. _ ~ ' ~'"`S' ~ ' , ; ; ~2 Mortgage and Security Agreement ~ ~ ~ . : r:-:~r:, tit. ' uc~e, Co., fla. ~_0 ~ C',-.'. . ~ This Mortgage is made ihis 25th day of _ January, 1988 by an~ between Alban Weber and Margaret K. Weber, his wife ' ("Mortgagor"), and Bamett Bank of _ St. Lucie County ("Mortgagee"), ` ~ the address ot which is 2421 South U.S. #1, Fort Pierce, Florida ~ W itnesseth: WHEREAS. Mortgagor and Mortgagee have entered into an agreement whereby Mortgagor may borrow fran Mortgagee an undetermined sum not to exceed the maximum prmcipa! sum ot ***~ENTY FIVE THOUSAND and no/ 100*** together with interest thereon, all as evidenced by the CreditLine Agreement (the "AgreemenY') of even date herewiih, executed by Mortgagor and delivered to Mortgagee, whereunder the Qutstand~ng advanced principal may iluctuate up and dayn from time to time, ~nd all sums advanced under the Agreement or otherwise cnved under the Agreement pertaining thereto shall be secured hereby, and no notice of any advance need be recorded to evidence such advance. The Agreement by reterence is made a part hereof to the same extent as though set out in full herein: NOW, THEREFORE to secure the p2rformance by Mortgagor oi all covenants and conditions in the Agreement and in this Mortgage and in alt other instruments securing the A~reement, and in order to charge the properties, interests and rights hereinafter des~ribed with such payment and performance and to secure add+iional advances, ~enewals and extensions thereof and for and in cons+deration ot the sum o! Ten and no/100 Dollars ($1.0.00), Mo~tgagor does hereby mortgage, sell, pledge ~ and assign to Mortgagee: ~ 7he Mortgaged Property ~ St. Lucie ~ (A) Atl of ihe land ~n the county of . described below: Lot 16, Block 1b6, SOUTH PORT ST. LUCIE UNIT TEN, according to the Plat therof, ? as recorded in Plat B~ok 15, Pages 2~ 2A, of the Public Records of St. Lucie Cuunt~-, F] orida to have and to hold the same, together with aN the +mprovements now or hereaf2er erec2ed on such propeity and all fixtures now or hereafter attached thereto, together w;th each and every tenements, hereditaments, easements, rights, powers, privileges, immunities and appurtenances thereunto belonging or in anywise appertaining and the reversion and reversions, remainder and remainders, and also all the estate, right, t~tle, interest, homestead, right o! dov+er, separate estate, property, possessi~n ;3 and claim whatsoever in law as wwll as m eq~ity of Mortgagor of, in and to the same in every part and parcel tnereot unto ~ Mortgagee in fee simpte. (B) Together with a secunty interest in ati tixtures a(fixed to and personal property, excluding househad goods which are not purchased with the proceeds of the Agreement, located on the property described ~n paragraph (A). ~ (C) Toyether with alI rents, issues, profits, revenue, income and other benefits irom ihe property described in paragraph ~ ' (A) hereof to be applied to the indebtedness secured hereby, provided however, that permission is he~eby given to Mortgagor ~ ~ so iong as no default has occurred hereunder, to collect, receive, and use such benefits from the property as they become y ~ due and payabte, but not in adva~ce thereaf ~ ~ ~ (D) Every~th~ng referred to ~n paragraphs {A), (B) and (C) hereof and any add~tional properiy hereafter acquired by ~ ~I Mortgagor and subject to the tien d this Mortgage or arry part of these properties is herein referred to as the "Mortgaged Prope~ty." ~ 4 PROVIDED ALWAYS, that if Mortgagor shall pay to Mortg2gee the Agreement at the times and in the manner stipulated ~ therein. and in a11 other instruments securing the Agreement, including renewals, extension or mai~f~cation thereof, and in ~ this Mortgage and in aJl other instrumenis securing the Agreement, to be kept, performed or observed by Mortgagor, then ' this MoRgage, shatf cease and be void, bui shat! olherwise remain in tull force and eftect. ' ~ Mortgagor covenants and agrees with Mortgagee as tollows: ~ ~ 7. Compliance wfth Agreement and Mortgage; Warranty of Title. Morigagor ;h21! comply w~ih afl provisions of the i i Agreement, this Mortgage and of every other instrument securing the Agreement, and wiU promptly pay to Mortgagee the i pr~nc~pal with interest thereon and all other sums required to be paid by Mortgagor under the Agreement and pursuant to j the provisions of this Mortgage and oi every olher ~nstrument secunng the Agreement. Mortgagor covenants that Mortgagor ~ owns and is indefeasibly seized of the Mortgaged Property in (ee simple, that the Mortgaged Property is iree from aN encumbrances except as noted in the legal ciescription above, that Mortgagor has lawful authority 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 a!I persons whomsoever, and that Mortgagor so warrants NO DOCUMENTARY STAMP TAX !S DUE AND Pd?YABLE HEREON SINCE THE AGREEMENT SECURED HEREBY !S NOT A PROMlSE TO PAY A SUM CERTAIN. RULE 128-4.52(6), F.A.C. . A~: (:'F':`~N1S Ph.r.nl15 ~l~P. ~~il,prE ~~G22t Re. ~~Jl ~ 1~»~ EQ`~574 ~3i ~'~S~'~ ' - - a: r