HomeMy WebLinkAbout2237 MOlTCiAtfE OEED DtEW'~~ M wN M TM M. 1 W. Ow~ CNN~1i
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TNs Instrument Was heparod 8y! ~~+ppn~
. LEWIS D. HA1 11, Atto?ney C~C~pll
.4536 N~rih r3:1~r~1 H~~nw
/ ~ ~ at LauderraJe. Fbrida
~
Exe~.~~ed ehe Z/~~ doy oj June A. D. tq 68 by
THS KINGSLEY CORPORATION,
n corpo?ation exiating unde~ the ~au~i oj Florida , and hauing its princtpa~ p~nce o~
bwtness nt
hereina/ter called tl~e n~ortgagor, to JOHN L. TURPIN
1512 N. E. 51st Street
whose postoffice address ia FOrt LSudc~rdal e~~1Qr].da--_ _
~ier+eina(ter cal~ the mortgngee:
(W6e~tver encd 6ercia Se terms •~mort~a~•• aed mortsasee•• ;nclude aU tse partia co this imvumeac and t6e 6eirs.
IeRa) rcPrescnntivn aad atai~~s o( indrv~dua6, aad tLe ~esors aad assism ot corporaaoas; and t6e term ••note••
iecluda all t6e aota 6erein darribed it more tbaa ooe. )
~
~`~11~1~~ 1{~at ~or good and valuoble considemtions, and also in consideralion oJ the aggre-
gute sum named in the promissory note o~ euen c~ate hereu~ith, hereina~ter c~escri6erl, the mortgagor {~ere-
6y grants, bargains, sells, nliens, remises, c~onveys and con~irms unto the moHgagee all the certain Iand
~f wh«h ehg mortgngor is now seizec~ and in possession situnte in St. Lucie County,
%'~;1:'?~~Ill~;i:• ~loridn. uiz:
O ~
4"~ I
~ cv t All that part lying West of the new 200 feet
N~ right of way of U. S. Highway #1, of the South
1/2 of the Southwest 1/4 of the Southeast 1/4
y~ ~~L~ of the Southwest 1/4 of Section 8 Townshi 34
- . P
_;ii~:~ Southt Range 40 East; c
_ m W 5
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- .~a ~ nL~iD q
? F o f
' a - .s,~
All that part lying West of the new 200 feet ~
right of way of U. S. Highway #l, of the North
°,1Nf10~ 1/2 of the North 1/2 of the Northeast 1/4 of
js the Northwest 1/4 of Section 17, Township 34
I'I . South, Range 40 East. ~ ~
~ ~ ~
f a THIS IS A PURCHASE MONEY FIRST MiORTGAGE.
The mortgagee agrees to release from the terms and conditions of ~
this purchase money mortgage such lands as may be selected by the
mortgagor beginning at the Northwesterly boundary of the property
encumbered by this mortgage in Section 7, Township 34 South, Range ~
40~st. Releases shall be in parcels of one acre or more, with a ~
width of 250 feet, running East to West. Releases shall =un from .
the Northerly boundary South to Indrio Road. After a parcel 250 feet
in width has been released from North to South, the next parcel to
be released shall be immediately contiguous to and East of the.parcel '
released and shall be in like width of 250 feet, running from North ~
to South. Releases thereafter ahall continue in the same manner in
- which the entire property, covered by this purchase money mortqage,
~ in Sectiois 7, 18, 17 and 8, Township 34 South, Range 40 East, shall
have been released. All releases required by the mortgagor shall be
contiguous and shall be released upon payment by the mortgagor to the
m¢ tgagee of a sum computed on the basis of $350.00 per acre. All ~
payments on account of principal shall be credited towards the ~
release of acreage, and the mortgagor may request such required '
releases at the time of payment of principal or at any time thereafte .
~ ,
~ The mortgagor agrees to create a tax escrow account and deposit ~
~ monthly in a savings and loan association a sum equal to 1/12 of the
estimated annual taxes assessed against the property encumbered by ~
this mortgage. This tax escrow account shall be in existence for
the first two years from the date hereof. ~
~ - aooK172 P.~cE2`~'Z4
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