Prepared by:
XXXXXXX X. XXXXXX, ESQUIRE
0000 Xxxx Xxxxxxx Xxxx., XXX 000
Ft. Lauderdale, FL 33304
MORTGAGE DEED
THIS MORTGAGE DEED, executed the 28th day of September, 2001, by PARKSON
PROPERTY, LLC, a Florida Limited Liability Company(hereinafter called the
"Mortgagor") of 0000 Xxxxx Xxxxx Xxxxxxx, Xxxxx 000, Xxxxxxx Xxxx, Xxxxxxx
00000, to BAY COLONY ASSOCIATES, LTD., a Florida Limited Partnership(hereinafter
called the "Mortgagee") of C/O Marquette Realty, 0000 Xxxxx Xxxxx Xxxxxxx, Xxxxx
000, Xxxxxxx Xxxx, Xxxxxxx 00000.
(Wherever used herein the terms "Mortgagor" and "Mortgagee" include all the
parties to this instrument and the heirs, legal representatives and assigns of
individuals, and the successors and assigns of corporation)
WITNESSETH, That for diverse good and valuable considerations, and also in
consideration of the aggregate sum named in the promissory note of even date
herewith, hereinafter described, the said Mortgagor grants, bargain, sells,
aliens, remises, releases, conveys and confirms unto the said Mortgagee in fee
simple, all the certain tract of land, of which the said Xxxxxxxxx is now seized
and possessed, and in actual possession, situate in Broward County, State of
Florida, described as follows:
Lots 12 and 13, Block 2 of CORAL RIDGE ISLES
according to the Plat thereof, recorded in Plat
Book 45, Page 47, of the Public Records of Broward
County, Florida, less the North 97 feet of said
Lot 12, together with that portion of the planting
strip lying East and adjacent to the Northeast
14th Avenue right-of-way between the North and
South property lines, extended, of the above
described property.
TO HAVE AND TO HOLD the same together with the tenements, hereditaments,
and appurtenances, unto the said Mortgagee, fee simple.
AND the said Xxxxxxxxx, covenants with said Xxxxxxxxx that said Xxxxxxxxx
is indefeasibly seized of said land in fee simple that said Xxxxxxxxx has full
power and lawful right to convey said land in fee simple as aforesaid; that it
shall be lawful for said
Mortgagee, at all times peaceably and occupy and enjoy said land; that said land
is free from all encumbrances; that said Xxxxxxxxx will make such further
assurance to perfect the fee simple title to said land in the Mortgagee as may
reasonably be required; and that said Xxxxxxxxx does hereby fully warrant the
title to said land and will defend the same against the lawful claims of all
persons whomsoever.
PROVIDED ALWAYS, that if said Xxxxxxxxx, shall pay unto the said Mortgagee
the certain promissory note, of the which the following in words and figures is
a true copy, to wit:
PROMISSORY NOTE
$712,500.00 Fort Lauderdale, FL, September 28th, 2001
FOR VALUE RECEIVED, I/WE, or either of us, promise to pay to the order of BAY
COLONY ASSOCIATES, LTD. the sum Seven hundred twelve thousand, five hundred and
no/100 ($712,000.00) dollars at c/o Marquette Realty, 0000 X. Xxxxx Xxxxxxx,
Xxxxx 000, Xxxx Xxxxxxxxxx, XX 00000 with interest from date at the rate of
seven (7%) percent per annum until paid, payable as follows:
At Borrower's option interest may be accrued or paid during the period between
the date hereof and September 28, 2004. On September 28, 2004, all accrued
interest shall be paid and thereafter, interest shall be paid monthly. On
September 28, 2006, the principal and any unpaid accrued interest shall be paid
in full,
Now should it become necessary to collect this note through an attorney, either
of us, whether maker, surety, or endorser on this note, hereby agree to pay all
costs of such collection, including reasonable attorney's fee. The drawers and
endorsers severally waive presentment for payment, protest, and notice of
protest of this note. IN THE EVENT any payment of interest or principal not be
paid within THIRTY (30) days after the same becomes due, the holder on this note
may, at his option, declare the whole principal sum here to be immediately due
and payable.
PARKSON PROPERTY LLC
By:/s/ Xxxxxx X. Xxxxxxxx
-------------------------------
Xxxxxx X. Xxxxxxxx
and shall perform, comply with and abide by each and every the stipulations,
agreements, conditions and covenants of said promissory note and of this deed,
then this deed and the estate thereby created shall cease and be null and void.
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AND the said Xxxxxxxxx hereby covenants and agrees:
1. To pay all and singular the principal and interest and other sums
of money payable by virtue of said promissory note and this deed, or either,
promptly on the days respectively the same severally become due.
2. To pay all and singular the taxes, assessment, levies, liabilities,
obligations, and encumbrances of every nature on said described property, each
and every, and if the same be not promptly paid the said Mortgagee 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 lawful rate permitted by the laws of the State of
Florida.
3. To pay all and singular the costs, charges and expenses, including
lawyer's fees, reasonably incurred or paid at any time by said Mortgagee,
because of the failure on the part of the said Xxxxxxxxx to perform, comply with
and abide by each and every the stipulations, agreements, conditions and
covenants of said promissory note and this deed, or either, and every such
payment shall bear interest from date at the highest lawful rate permitted by
the laws of the State of Florida.
4. To keep the buildings now or hereafter on said land insured in a
sum not less than the highest insurable value of the improvements in a company
or companies to be approved by said Mortgagee, and the policy or policies held
by and payable to said Mortgagee, and in the event any sum of money becomes
payable under such policy or policies, the Mortgagee may apply the same on
account of the indebtedness hereby secured or permit the Mortgagor to receive
and use it or any part thereof for other purposes without thereby waiving or
impairing any equity, lien or right under or by virtue of this mortgage, and
Mortgagee 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 lawful rate
permitted by the laws of the State of Florida.
5. To permit, commit or suffer no waste, impairment or deterioration
of said property, or any part thereof.
6. To perform, comply with, and abide by each and every the
stipulations, agreements, conditions and covenants in said promissory note, and
in this deed set forth.
7. If any of said sums of money herein referred to be not promptly and
fully paid within thirty (30) days next after the same severally become due and
payable, or if each and every the stipulations, agreements, conditions and
covenants of the promissory note and this deed, or either, are not fully
performed, complied with and abided by, the said aggregate sum mentioned in said
promissory note shall become die and payable forthwith or thereafter at the
option of the Mortgagee, as fully and completely as if the said aggregate sum
mentioned in the Note was originally stipulated
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to be paid on such day, anything in said promissory note or herein to the
contrary notwithstanding.
IN WITNESS WHEREOF, the said Xxxxxxxxx has hereunto set the Mortgagor's
hand and seal the day and year first above written.
Signed, sealed and delivered
in the presence of:
PARKSON PROPERTY LLC, a Florida
Limited Liability Company
By: /s/ Xxxxxx X. Xxxxxxxx
------------------------------- ------------------------------------
Witness name Xxxxxx X. Xxxxxxxx
Authorized Representative
-------------------------------
Witness name
STATE OF FLORIDA }
COUNTY OF BROWARD }
The foregoing instrument was acknowledged before me this 28th day of
September, 2001, by Xxxxxx X. Xxxxxxxx, authorized representative, on behalf of
PARKSON PROPERTY LLC, a Florida limited liability company who is personally
known to me.
-------------------------------
Name:
Notary Public:
My Commission Number:
My Commission Expires:
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