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Home My WebLink About2700 i 111 ~AYwl11T . • ~ • ~ • • ~ ~ ~`~2`~2 ~ R</1L tlTAT[ MORTOAGt Sf. ~ THIS l[ORT(iAGE. ex~ueea u~ 17th May . ia68 . b~ ~ OIL ~0., INC., a Florida corporation with office at 958 - 20th Place, Vero ~3each, Florida r?ereinatter cau~3 Mort~a~or , to THE ATI~ANTIC NATIONAL BANK OF JACKSONVILLE, a national banking association having its principal place of business in Jacksonville, Florida tiereinatter caued Morl~ee . WTl'NS3SSS: That in consideratioa oi the aggregate sum named in the promiasory note hereinatter de- scribed. and other valuable consideratioAS, the Mortgapr doea hereby grant, bargain, aell, alien. remse. conveY and confirm unto the Mortqagee in ie~ s~mple~ the lu?d. oi which the Mortga~or is _now .~aeized and in actual possession. in S t. Lt1C le County, State oi Flonda. deacribed as ollows. to-wit: From the SW corner of the SE 1/4 of Section 27, Township 35 South, Range 40 East; run South 89° 38' 30" East along the South line of said Section ~27 a dista~ce of 78.08' to the East right-of-way of U. S. Highway No. 1; ~'~`~thence, run North 2° 08' 30" West along the said right-of-way a distance ~s~of 300.28' to the Point of Beginning; thence, continue North 2° 08' 30" ~dn West a distance of 300.06' along th~ East right-of-way of present U. S. a~``Highway No. 1; thence run Soufi~h 89 38' 30" East a distance of 502.43'; thence run South 2° ~4' S0" West a~s~ance of 240.06'; thence, run ~='-North ~9° 38' 30" West a distance of 240.00'; thence, run South 2° 34' S0" ~ J ~=~West a distanct of 60.00'; thence, run North 89° 38' 30" West a distance of 237.60' to the Point of Beginning; . ~ ~ ~ _ AND ALSO, ; t~ T • ~.~that part of the South 275.00' of Che SW 1/4 of the SE 1/4 of Section 17, Township 35 South, Range 40 East lying East of U. S. Highway No. 1, less however, the North 25.00' and the East 15.00' for right-of-way. The above property lying in St. Lucie County, Florida. This mortgage is granted to secure future advances from the mortgagee to the mortgagor. T'he unpaid principal balance of the indebtedness or in- debtednesses hereby secured, exclusive of disbursements made by the mortgagee for taxes, levies, assessments and insurance, and exclusive of accrued interest, shall never at any one time exceed the sum of $225,000.00. Subject to an existing mortgage encumbering that part of the South 275 feet of the Southwest Quarter of the Southeast Quarter of Section 17, Township ~ 35 South, Range 40 East, lying East of U. S. Highway No. 1, wherein David : Cohen and Anne Cohen, his wife, are mortgagors, and T'helma M. Folsom is ~ mortgagee, bearing date of December 27, 1962, recorded in Official Record ~ Book 53, page 75, of the current public records of St. Lucie County, Florida. ~ Any default under said existing mort gage or the obligation thereby secured ~ shall, at the option of the holder of this mortgage, constitute and be a ~ default under this mortgage and the obligation hereby secured. In event of ` default under said exis~ing mortgage, the mortgagee under this mortgage re- } ~ serves the right to make such future advances as are necessary to cure such ~ default or to pay said existing mortgage in full, and all such advances shall relate back to and be secured by the lien and operation of this mortgage deed to the same extent as if made contemporaneously with this mortgage deed and to be secured by this mortgage deed. ~ ~ ~ ~ ~ tosethu with all the buildin~s and other structures now or here4lter upon said land. • ~ ~ TO HAVS AND TO HOLD the same. with the tenements, hereditaments and appurtenances thereunto belon~in~, ~ includin~ any and all easements and riparian ri~hts. u~d the rents. issues and profita of said mortgaged Property. and the praceeds ot any or all the mort~a~ed propertq which may be taken by eminent domain, unto the Mortsa ee. ~ ~ ~ ~ AND TEiE MORTGAGOR covenants with the Mort~agee that the Mort~or is indefeasibly seised oi sald land In fee sinaple: that tbe 1[ort~or has full powrer aud lavrtul ri~ht to coavey uid land in fee sunple ar atore- ~ sa/d: tl~at k sl~all be lawhil for tl~e l[ort;ssee at all tima hereafter peaceabiy u?d quietly to enter upoq bold, oo~p~ and e~o~ s~fd land; tl~at said land and everp part tLereot is iree irom all lieas and encumbraaces; tbat tbe Mottp~or will mak~ such otber and lurtt~er aaurances to pedect the fee simple title to said land in the ~ as ma7 Aereattrr r~sooabl7 b~.='~9uired• and that the ldortpsoc doea herebp fuU~r w~arrant tht Wle t~i~land aad will daiead the saa~e a~au~st tbe ~awtul clainu ot all ns whoaasoever and James W. Coffey, Joe ~Earman and Joe Henry Earman ~ PAOVIDID. ALWAYS. tl~at it tbe l[oitsaso~ shall D~r unto the ldo~~e tbe Ptnmis~orY note hersinafter ~ ducrib~d. aod all interest tlrereoa. as tnd when t6er~ia provided. aad sl~a71-pertorin, t5ea t~his~ mo~rtp~~e aod ~ t~ ~da~btreb7 c~reatsd s W c~and b~e o d. pTl~iblla ?int ~ ub~tantial~c~ said roP7~ P~ =wte: ~ OR~I1 1 ~ . MCCARtNr. ADAMf • FOOT[ dOORi~i PAGE~9~ ~ ~O1 ATLAM~fC N~TIOp~I ~AMII •UIlO1M0 _ ~ JACRlONVILL[ ~ IIORIOA ~ ,~-..r;_:r,._, _ . . _ _ _ _ . - ~ r a_ ~.-r _