The URL can be used to link to this page

Home My WebLink About0926 ~ . ' 5~3~i1~6 ~ ~ ~ AtORTGAGE DF.I:D AND 5ECURII'Y AGlti:F.11~N'f THISAIORTC;AGfiDEEDItheMortgagel,datt~dasof ~eceinber ~ , ~9 H2 ,byandbetween WHITLEY DAVIS, JR. and RONALD YOUNG ~ Ihereinaftercallecl Atortgagorland S~ ~K ~F ST. LtJCIE ~~0(JN`I'X, a Flor~da k~nki,~g - coYpordtion _ , having an - offioea~ _ 111 Oranqe AVenue, Fbrt Pieroe. Florida 334~Q~_~hereinaftercalledMortgagee); ~ ' ~VITNESSEiTH, that in consideratiun of the premises and in order to secure the payment of txnh thc principal of, cind interest and any other sums payable on thc note (as hereinaf!er defined) or this Mortgage and the perfonnance and i ohs~r~ cincc of all of the pn~visions hereof and uf said note, Me,rtga~ur hereby grants, sells, warrunts, conveys, atisign~, ~j ~ transfers, mortgages and sets over and conCrms unto Mortgagee, all of Mortgagor's estate, right, title and interest in, to I~t1czE ooc~rY ~ and under all that cert~~in ~eal pro~erry situate in ST. County, Floricia, more particularly dexribed as folloH~s: ~ . } . Lots 19 and 20, Block B, ALAMANDA VTSTA SUBDIVISION, REVZSED PLAT, according to the Plat thereof, as recorded in Plat Book 7, Page 4Q, of the Public Records of St. Lucie County, Florida. Irbrtgagors certify that the above pro~rty is not their har~stead. T(~ETHER WITH all impruvements n~~~• ur hereafter IocateJ on s;~id real propetiy and all tixtures, applian- - ces, apparatus, equipment, furnishings, heating and air conditioning equipment, machinery and ariicles of personal pro~x: rty and replacement thereof (other than those owned by lessees of said real property) now or hereafter affixed to, attached ta, placed upon, or used in any way in connection with the complete andoomfortable use, occupancy, oropera- tion of the said [e~l properly, all licenses and permits used or reyuiresi in connection with the use of said real property, all leases of said real property now or hereafter entered into and all right; title and interest of Mortgagor thereunder, in- ' cluding withoul limitation, cash or securities deposited thereunder pursuant to said leases, and all rents, is~;ucs, pr.~- cceds, and profits accruing from said real pro~eny and together with all proceeds af the conversion, voluntary or invo- _ lunta'ry of any uf the forcgoing into cash or liyuidated rlaims, including without limitation, proceeds of insurance and v~ condemnation awards (the fi,regoing said real property. tangible and intangible personal property he~einafter referred to ~ ec~llectively as the titortgaged Property). 1rlortgagor hereby grants to 1~~lortgagee a security interest in the foregoing de- ' _ scribed tangi~le and intangible personal property. _o ~ - : - - ; i=. • TO NAVE AND TO NOLD the hlortgaged Prc~perty, together with all and singular the t~nements, heredita- _ - menis and appurtenances.thereunto ~longing or in anywise appertaining and the reversion and reversions thereof and ' all the estate, right, title, interest, homcstead, dower and right oCdoa•er, separate estate, possession, claim and dcmand - - _ - whatsoever, as ~~ell in law as in equity, of hlortgagor and unto the same, and every part th~reof, v?~ith the appurtenances : uf Mortgagor in and to the same, and e~~ery part and parcel thereof 4nto Mortgagee. r~ ~ ~ Mortgagor warrants that Mortgagor has a good and marketable tide to an indefeasible fee estate in the real prop- - _ ~ erty comprising ihe Mortgaged Property sutiject to no lien, charge or encumbrance except such as ~lortgagee has agrced \ - to accept in writing and Mortgagor covenants that this It9ertgage is and will remain a valid and enCorceable mortgage on ~ Z ~ ; the MortgageJ Properfy subject only to the exceptions herein provided_ Morigegar has full power and law•iul authorit,~ to mortgagc the I~lortgaged Property in the manner and fomi herein done or intended hereaRer to be done. lt4ortgagor ~ v ; ~ will presen~e such title and w~iU fo~e~~er w~arrant and dcfcnd the same tc~ 1,lorigagce artd w~ill forever H~arrant and defend ~ ~ - Y the vafidity and peiority of the lien hereof against the claims af all persons and parties whomsoever. ~ ~ ~ ~ - ~ ~ ~ c. o a ~ ~ . ~ titortgagor will, at the cost of t~4ortgagor, and without expense ta Mortgagee, dc., execute, acknowledge and de- liver all and every such further acts, deeds, coveyances, mortgages, assignments, notices of assignment, transfers and ~ - assuran_es as Mortgagee shatl frum tirne to iime reyuire in ore:cr tc; presen~e tne priority of the lien of this Mortgage or to ~ facilitate the pcrformance of the terms hereof. _ ~ ~ ~ PRCVIDED, HOWEVER, that if ll4ortgagor shall pay to I~lortgagee tiie indebtedness in the princi~al sum of ~ S 3 5, 5 0 0. 0 4 as evidenced by that certain promissory note (the Note?. of e~•en ciate herewith. or any renewal or ~ replacement of such Note, executed by t~tortgagor and payable to order of Mortgagee, with interest and upon the terms as pro- ~ . vided therein, and together with all other s~.~ms ad~~anced by b~tortgagee to or on behalf of Mortgagor pursuant to the Note or 2 this Mortgage, the final maturity date of the Note and this Mortgage as sperified in the Note and shall perform all ether covenantsand conditionsof the Note, all of the terms of w~hich Note are ~ncorporated herein by reference as though set foi th ful- ~ ly herein, and of any renewal, Pxtension or mociification, thereof and of this Mortgage, then this hfortgage and the estate herebp ~ ~ _ c~eated shall cease and ~erminate. - ~ ~tilortgagor furt~er covenants and agrees with Mortgagee as follows ~ ~ 1. To pay all sums, including interest secured hereby when due, as provided for in the Note and any renewal. ~ ~ ~ ~ e~tension or mcxiification thereof and in this i~longage, aU such sums to be payable in IaH~Cul money of ttie Uni[ed States . ^ of America at ~1ortgagee's aforesaid principal office, or acsuch other place as Morteagee may designate in writing. ~ ~ ~i s : 2. To pay when due, and without requiring any notice fr~~m Martgagee. ~!1 taxes. assessmcnts of any type or -~F ~ - nature arjd other charges levied or assessed against the Morigaged Property or this 1~4ortgage and produce receipts there- ; . fore upon demand. To immediately pay and discharge any claim, lien orencumbrance against the Mortgaged Property ` .r which may be or become superior to this Mortgage and to permit no default or delin~aency on any ottier lien, encum- ~ r; brance or charge against the Mortgaged Pro~rty. = ~ ^ . . ~ ~ r~ 3.- IF required by Mortgagee, to also make monthly deposits with Moitgagee, in a non-interest bearing ;~c- ~ ~ count, together with and in additivn to int~rest and princiFal, ot a sum eyual to one-twelfth of the yearly taxes and as- ~ ~ o ~ sessments which may be levied against the Mortgaged Property. and (if so r~quired) one-twelRh oi'the yearly premiums ? for insurance the:eon. ~7te amount of such taxes, assessmerts and premiums, when unknown, shail be estimated by # Mort a ee. Such de sits shall t~e used b Mort a ee to a such taxes. assessments and remiums when due. An ~n- ~ :S 8g P~~ Y 88 PY P Y~ _ ~ sufficiency of such account to pay such charges when due shall be paid by Mortgagor to Mongagee on demand_ If, by a reason of any dPfau(t by Mortgagor under any pravision of this Mortgage. Mortgage~ declares all sums secured hereby to be due anci payable, Mortgagee may then apply any funds in said account agair~~ ~y're indebt~;e~e~ecured . H c. w aoOK ~~.1 PA6E 4-0484-000-t N 981 - ~ .1.~~."~_'.._.._. _ . -