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quarter of Section 24, Towriship 35 South, Ranqe
39 ~ast, and run thence North on the half
section lina 679.5 feet, thence run Weat 200
feet, thence run North to Okeechobee soad
(State Road ~O), and thence run Southw~esterly along
Okeechobee Road to concrete monument on the
center2lne of S~ of Sii~ of eaid Section 24, t3~ence
run South 1295 feet, thence run 8aet along the
South iine of said Section 24, to the point of
beqiruiinq, aZZ ly3nq and beinq !n the Coun~y of
St. Lucie, State of F2orida, leas the premlaea .
along the North side thereof being Parcel No.
6-10-26 as designated by Florida Turnpike Authority
convey~ed to sa~d authorl.ty by Cleary Brothera
Construction Co.
As to Parcel 3 this iB a Second Mortqage subject
to that certain mortgaqe to First National Barilc
of Fort Pierce, Fort Pierce, Florida, dated ;
November 10, 1967, recorded in O. R. Book 169,
Page 297, public records of St. Lucie County,
Florida.
THIS MORR"GAGE is given as joint aecurity with that certain
Security Agreement dated April , 1968, fram GOR~iAM COt+7STRUCTION
~OMPANY, a Florida corporation, to Mortqagee, for the payment of the
note executed simultaneously herewith and shall alao secure paytaent
of any future advances or loans that may be made bg the Mortqagee
to said corporation at any time within seven (7) years hereafter,
even though no indebtedness is outBtandinq hereunder, provided, that
the maximum principal amount of monies so secured upon is $350,Q00.00
at any one time, said future advances or loana shall be evidenced ~
by written note, notes, mortgages or written instrument of mortgagors,
grantors or endorsers. It is the intention of the individual Mortgaqora
(V. R. GORHAM, SR, and RUTH GORHAM, his wife) (wtio are the quarantors
of the prcaaissory note secured by this mortqaqe) that thfs mortqaqe
is given to secure a guaranty of even date to Mortgagee in the swa
of $350,000.00 in connection with SBLP743,744-08-OS-MIA(T) Loan and
that this mortgage and the Security Aqreement herein referred to shall
constitute joint security for the payment of the pranissory note,
copy of which is attached hereto.
TO HAVE AND TO FIOLD the eame, toqether with the tenements,
hereditaments ar~d appurtenances thereto belonging, and the rents,
oQKi71 FAGE1157' - 2 -
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