HomeMy WebLinkAbout2789 MOI~TOAO[ D~tO • RAMCO FOI~M R[6
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t F..re~ule~! th~ 18th day oJ MSy A. D. i9 6E 6y
~ George R. l~ercader
j f?ereinajter ral~~ ~{~e ?norigagor, io Syb31 Levita Culverhouse, d8 Trustee t1t1d@I'
the Last Will And Testament of B. A. Brown, Deceased.
I~ereina~ter called the morlgagee:
' (Wbem~r used 6enia tbe urms "moresa~r aed ••oortsaaee•• ieclude all t6e p~rties to diu imtru~~t a~d t6e ~e~n,
ktal npre+enutives and ass~~us of isdividuah, aad ~be wccenon awd auiRa of corpwation: ud t6e urm '•wote••
iarludes al! tAe wles bcreia de~eribed i( more t6a~ oae.)
~~~~Q~~ that fo~ good and vuluable consideratior?s, and nlso in corwide?alion oj the oggre-
gnte sum nnmec~ in Itie promissory nofe o~ even dale herewit{~, ~ereina(te~ descrt6ed, t~e mortgagor he?e-
6y gmnts, 6argains, sells, aliens, remises, conveys and con/irms unte the mortgagee all the certain lnnd
o~ whicti the morfgagor is now seizec~ and in possession siluate in St. Lueie County.
Florida. i~iz:
~ Blocks 60, 61, 62 and 63 of Bel-Air Groves as`per plat thereof
I recorded in Plat Book 14 ,Page 11 , public recordB of
St. Lucie County, Florida.
ThiB mortgage fs given subject to easements of record, to the re-
strictive covenants and the dedication of canals, ditches, dikes
, and roads as same are shown on said plat of Bel-Air Grovea.
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It is hereby covenanted and agreed that if Mortgagor, after
September 20, 1967, should deaire to enter into a long tena first
t°' mortgage with an insurance campa~c~y or other lending institution,
~ then Mortgagee agrees to subordinate this purchase money mortqage
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• _ and the promiaeory note secured hereby to auch a first mortgagef
Provided: all of the above described land hag been planted to
citrus, except that part thereof to be used as dikes, berms, roads, '
'i drainage and irrigation ditches, lakee, ponda, overseer's house,
f barn, equipmeat area, pump equipment installations and muck area
~ (provided that the total of said land used for said purpoaes ahall
~ not exceed 2596 of the land above described); and, provided,
Mortgagor shall arrange for a written irrevocable disbursal agree-
ment of such insurance c~any or other lending institution as to
; ~ payments of Mortgagee's purchase money mortgage, or Mortgagee may
~ elect to accept a pre-payment of thia mortgage in cash: provided
further, however, that Mortgagor shall have the right to sub-
~ ordinate or discharge this mortgage by one of said methods.
~ M~rtgagor covenants and agrees that when the above described
property has been planted to citrus, said citrus grove shall be
~ maintained in as good a state of cultivation and husbandry as
~ groves are usually maintained and cultivated in St. Lucie County,
~ Florida. _ _
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TH IS IS A PURCHASE MQNEY M~ORTGAGE .
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~ ~~CEIYED ; IN PAYMEMT OFTAxES
~ FUF OM CLA45'C' INTANGISIC ?ERSONAL rYO~ERTT.
YU~ 3U~1N f 70CNAPTER Z072e, ACTlOI 1lN,
~•;r :t ?,`i~ 2.i G~rk Grcvit Corrt
~ os AC~ ~ CUt.TIS M.IAMES
~ (',p~r~ty Ta: GM~ttv~
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~ gooK 147 387
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