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lO~Iortgage Form
SPSLCC 11
11/82/65 Revised
MORTGAGE DEED
THIS MORTGAC3E DEED. Executed the 9th day oE June . ~
19 66 , by GB08GS VOLP~? sad ffiI.D~GAED VOLPBRT. his vife, •
party of the first pe~rt, hereinafter called Mortgagor, to GENERAL DEVELOP-
MENT CORPORATION, a Delaware corporation, par~?of the second part, here-
~ ina[ter calted Mortgagee. ~
WITNE3SETH: ~
That for divers good and vatuable considerations, and also in considera-
tion of the aggregate sum named in the promissory note of even date herewith, #
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hereinafter described. the said Mortgagor does grant, bargain, sell, alien, remise, ;
release, convey and confirm unto the said Mortgagee, ite successors and assigns, i
in fee simple, all that certain tract of land of which the said Mortgagor ia now t
seized and poseesaed, and in actual posseasion. eituate in St. Lucie County, State
oi Florida, deecribed as followe; ~
Lot l, Block 17 of SOIITH F08T ST. I~TCIS~ D11IT 3, ~
eccording to the Plat thereof as recorded ia plat~
Book 12, a?t Page 4 of the Pciblic 8ecorde of St. O°`~w ~
L11C~6 CO11IIty~ Florida. ~Erv~: IN PAyMENtOFT~~ ~
DUE O!1 CLAlS'C~ INTANGISLE rER30NAl. ?YOrERTt~ ~
pVRSUANT TO CMAPTER ZOT2~. ACTS OF 1f41. 1
~ ~ Perr~..-~, a.~ c~~ c,~+ _
cu:ns M. ~~ES ~
THIS IS A PURCHASE MONEY FIRST MO~' T~~
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PROVIDED, there is no default in the termfy o gage, ~6~R~ i
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. s
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 Pubiic Records of St. Lucie County, Florida,
said aubordination shali be conditioned upon the fact that it is intended solely to ~
subordinate the intereat of the Mortgagee herein only to•the lien of the institutional
i construction mortgage referred to above and to no other lien or interests what- -
i soever.
TO HAVE AND TO HOLD the same together with the tenements, heredi-
taments, and appurtenances, unto the said 1Vlortgagee, and its successors and
assigns, in fee simpie.
AND said Mortgagor for theaeelvea and tbeir 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 encumbrnnces;
that said Mortgagor, their heirs and assigns, witl make such further assur-
ances to perfect the fee simple title to said land in said Mortgagee, its successors, ~
~ legal representativea 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 whomsoever. ~
PROVIDED ALWAYS, that if said Mortgagor, ~eir heirs and assigns
shall pay unto the eaid Mortgagee, its successors, legal repreaentatives or ~
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80~150 28~ ~
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