Complete Home & Office Legal Guide/Complete Home and Office Legal Guide (Chestnut) (1993).ISO/ex/sam/re/810490.sam

Text File | 1993-08-01 | 11KB | 251 lines

  This indenture, executed on ___________, between MICKEY
MORTGAGOR, herein  called mortgagor, which term includes
mortgagor's heirs,  executors, administrators, successors, legal
representatives, and  assigns, and shall denote the singular and
or plural and the  masculine and or feminine and natural and or
artificial persons  whenever and wherever the context so requires
or admits, and  REEDY CREEK INTERNATIONAL BANK, herein called
mortgagee.


  Witnesseth, that for various good and valuable considerations,
and also in consideration of the aggregate sum named in the
promissory note of even date herewith, herein described,
mortgagor does grant, bargain, sell, alien, remise, release,
convey, and confirm unto mortgagee, its successors and assigns,
in fee simple, all the certain tract of land of which mortgagor
is now seized and possessed, and in actual possession, situated
in the County of OSCEOLA, State of Florida, described as follows:


SEE EXHIBIT 1



  Together with all structures and improvements now and hereafter
on the land and the fixtures attached thereto, together with all
and singular the tenements, hereditaments, easements, and
appurtenances thereunto belonging or in any manner appertaining,
and the rents, issues, and profits thereof, all the estate,
right, title, interest, and all claims and demands whatsoever, in
law and in equity, of mortgagor in and to the same, and every
part and parcel thereof, and all fixtures now or hereafter
attached to or used in connection with the premises herein
described and in addition thereto the following-described
household appliances, that are, and shall be deemed to be,
fixtures and a part of the realty, and are a portion of the
security for the indebtedness herein mentioned:

AMUSEMENT PARK RIDES AND CONCESSION STANDS LISTED ON EXHIBIT 2


  To have and to hold the same, together with the tenements,
hereditaments, and appurtenances unto mortgagee, and its
successors and assigns, in fee simple.



  Mortgagor, for mortgagor, and the heirs, legal representatives,
and assigns of mortgagor, or covenants with mortgagee, its
successors, legal representatives, and assigns, that mortgagor is
indefeasibly seised of the land in fee simple that mortgagor has
full power and lawful right to convey the land in fee simple as
stated above that it shall be lawful for mortgagee, its
successors, legal representatives, or assigns, at all times
peaceably and quietly to enter on, hold, occupy, and enjoy the
land that the land is free from all encumbrances that mortgagor,
and the heirs, legal representatives, or assigns of mortgagor,
will make such further assurances to protect the fee simple title
to the land in mortgagee, its successors, legal representatives,
or assigns, as may reasonably be required that mortgagor does
hereby fully warrant the title of the land and will defend the
same against the lawful claims of all persons whomsoever.

  Provided always, that if mortgagor, mortgagor's heirs, legal
representatives, or assigns shall pay to mortgagee, its
successors, legal representatives, or assigns, that certain
promissory note of which the following is a true and correct
copy:



and shall perform, comply with, and abide by each and every
stipulation, agreement, condition,and covenant of the note and of
this mortgage, and shall pay all taxes that may accrue on the
property and all costs and expenses that mortgagee, mortgagee's
heirs, legal representatives, or assigns may be put to in
collecting the note in foreclosure of this mortgage or otherwise,
including a reasonable attorney's fee, then this mortgage and the
estate hereby created shall cease and be null and void.

  And mortgagor, for mortgagor, mortgagor's heirs, legal
representatives, and assigns, does hereby covenant and agree:
SECTION ONE
PAYMENT OF PRINCIPAL AND lNTEREST

  To pay all and singular the principal and interest and other
sums of money payable by virtue of the promissory note and this
mortgage, or either, promptly on the days respectively the same
severally become due.
SECTION TWO
TAXES, ASSESSMENTS, AND OTHER CHARGES


  To pay all and singular the taxes, assessments, levies,
liabilities, obligations, and encumbrances of every nature on the
described property, each and every, and if the same are not
promptly paid, mortgagee, its successors, legal representatives,
or assigns may at any time pay the same without waiving or
affecting the option to foreclose or any right hereunder, and
every payment so made shall bear interest from the date thereof
at the highest legal rate of percent per annum.

SECTION THREE
CHARGES ARISING FROM DEFAULT

  To pay all and singular the costs, charges, and expenses,
including lawyer's fees, reasonably incurred or paid at any time
by mortgagee, its successors, legal representatives or assigns,
because of failure by mortgagor, mortgagor's heirs, legal
representatives, or assigns to perform, comply with, and abide by
each and every stipulation, agreement, condition, and covenant of
the promissory note and this mortgage, or either, and every such
payment shall bear interest from date at the highest legal rate.

SECTION FOUR
HAZARD INSURANCE

  To keep the buildings now or hereafter on the land insured in a
sum equal to the highest insurable value, both fire and extended
coverage, in accompany or companies to be approved by mortgagee,
and the policy or policies held by and payable to mortgagee, its
successors, legal representatives, or assigns, and in the event
any sum of money becomes payable under such policy or policies,
mortgagee, its legal representatives or assigns shall have the
option to receive and apply the same on account of the
indebtedness hereby secured or to permit mortgagor to receive and
use it or any part thereof for other purposes, without hereby
waiving or impairing any equity, lien, or right under or by
virtue of this mortgage, and may place and pay for such insurance
or any part thereof without waiving or affecting the option to
foreclose or any right hereunder, and each and every such payment
shall bear interest from date at the highest legal rate.

SECTION FIVE
MAINTENANCE OF PROPERTY


  To permit, commit, or suffer no waste, impairment, or
deterioration of the property or any part thereof, except
reasonable wear and tear and in the event of the failure of
mortgagor to keep the buildings on the premises and those to be
erected thereon, or improvements thereon, in good repair,
mortgagee may make such repairs as in its discretion it may deem
necessary for the proper preservation thereof and the full amount
of each and every such payment shall be due and payable 15 days
after demand and shall be secured by the lien of this mortgage.
SECTION SIX
COMPLIANCE WITH TERMS OF PROMISSORY NOTE

TO perform, comply with, and abide by each of the stipulations,
agreements and conditions, and covenants of the promissory note.
SECTION SEVEN
APPOINTMENT OF RECEIVER
Mortgagee, at any time pending a suit on this mortgage, apply to
the court having jurisdiction thereof, for the appointment of a
receiver, and such court shall promptly appoint a receiver of the
premises covered hereby, all and singular, including all and
singular, profits issues and revenues from whatever source
derived, each of and every of which, it being expressly
understood, is hereby mortgaged, as if specially set forth and
described in this mortgagee. Such appointment shall be made by
such court as an admitted equity and a matter of absolute right
to mortgagee, and without reference to the adequacy or inadequacy
of the property mortgaged or to the solvency or insolvency of
mortgagor or the defendants.
Such rents profits, income, issues, and revenues shall be  applied
by such receiver according to the lien of this mortgage  and
practice of such court. In the event of any default on the  part
of mortgagor hereunder, mortgagor agrees to