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• ~~~~a~ v~. ~~'~t Mortgage Form
C~"'~tpN ~G~t1~tjER ~~~yi1 C~.~
p~?IIUN!_..~~5~ Q~~` fs Sp$LCC ~1
,~pQ,i~tw"'~nS M• 11/22/65 Revised
~ ~ ~ MORTGAGE DEED
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w THIS MORTGAGE DEED. Executed the ;pt,h day of ,
. I9_.~¢,__. bY ROB~t lIELDB sad M. ~II~ ~IE1.DS. Dis vit~, .
party of the first part, hereinafter called Mortgagor, to GENERAL DEVELOP-
MENT CORPORATION, a Delaware corporation, par~?of the second part, here-
~ inafter called Mortgagee.
WITNESSETH:
That for divers good and valuable considerations, and also in considera-
tion of the aggregate sum named in the promissory note of even date herewith,
hereinafter described, the said Mortgagor does grant, bargain, sell, alien, remise,
release, convey and confirm unto the said Mortgagee, its successors and assigns,
in fee simple, all that certain tract of land of which the said Mortgagor is now
seized and possessed, and in actual possession, situate in St. Lucie County, State
of Florida, described•as follows:
- Lot 5, B1oa1c 13, BSPI.~2 oF ~ Fo8~IO1 ~ soDTS
POB? S?. IACIE~ U~I? 2, aaaordius to th~ PLt
tl~r~o! u sycord~d in Plat Boot 12, at Pago
45 Pnblio $~aords of St. I~?oi~ Connt~,
Florida.
THIS IS A PURCHASE MONEY FIRST MORTGAGE.
PROVIDED, there is no default in the terms of this mortgage, the mort-
gagee herein agrees to subordinate said mortgage to the lien of a construction
mortgage in favor of any bank or institutional lender authorized to transact busi-
ness in the State of Florida; the funds of which construction mortgage shall be
used for the purpose of constructing improvements on the subject premises.
It is an express condition of this mortgage that, notwithstanding the date
upon which the subordination of mortgage referred to above is executed by the
Mortgagee or recorded among the Public Records of St. Lucie County, Florida,
~ said subordination shall be conditioned upon the fact that it is intended solely to
~ subordinate the interest of the Mortgagee herein only to the lien of the institutional
~ construction mortgage referred to above and to no other lien or interests what-
soever.
TO HAVE AND TO~ HOLD the same together with the tenements, heredi-
taments, and appurtenances, unto the said Mortgagee, and its successors and -
assigns, in fee simple.
AND said Mortgagor for t,h~s~l~es and th~ir heirs and assigns,
doth covenant with said Mortgagee, its successors, legal representatives and !
assigns, that said Mortgagor is indefeasibly seized of said land in fee simple;
that the. said Mortgagor has full power and lawful right to convey said land in fee . '
simple as aforesaid; that it shall be lawful for said Mortgagee, it successors,
legal representatives and assigns, at all times peaceably and quietly to enter upon,
hold, occupy and enjoy said land; that said land is free from all encumbrances;
that said Mortgagor, ~~ir heirs and assigns, will make such further assur-
ances to perfect the fee simple title to said land in said Mortgagee, its successors,
legal representatives and assigns, as may reasonably be required; and that said
Mortgagor does hereby fully warrant the title to said land and will defend the same
against the lawful claims of all persons whorrisoever.
PROVIDED ALWAYS, that if said Mortgagor, ~~ir heirs and assigns
shall pay unto the said Mortgagee, its successors, legal representatives or
. soox 148
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