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MOlTGAGE OEEO OREW'S~{O RM E. ~t hc~?N ~M IN wl~ Mi TM M. a W. o.w d.aw
FrN Gr~~fiN N I~ivilwl ~C~ ~ 1~cttN~tlN, fNriM
,[~Thh In~ ment Was 'repared .l Ce~' $05
• LEyVIS D. H.al It, i::•~? eY
45d0 Nortn : ,;_a~... i.~.~rv,, i
/ ~ taud@rdale. Florida 333 I
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Executed the 2/ r~ da~+ o/ June A. D. 19 68 by
THE KINGSLEY CORPORATION,
a corpomtion existing unde~ flee ~uws o/ Florida . nnd having i!s principal p~ace o~
6winess at
her+einafter called fhe mortgagor, to JOHN L. '1'CTRPIN
1512 N. T. 51st Street ~
_ _ Wl~ose_~eo add~~: u Fort Lauderdale, Florida _
kereinaJte~ cal[ed the mortgngee:~ - - - - - ~
(W6eiever used 6ereia ~le tcrm~ ••mort~asor•• and morts~aa•• include all t6e partia to t6is imtrument and tbe heirs,
IeRal repracnntives and asism o[ indrv~dwls, aad the aucuswn and usisro ot corpontiom; and tAe [crm '•nate••
inch~da all ~e wta 6~tcia dacribtd iI mote t6an ooe. )
- ~Iill~le~~ that ~or good and ~alua6le considerations, nnd also in considerntion oj the aggre- ~
gate sum named in the promissory note o/ euen date herewith, hereinajter c~escri6ecl, tl?e mortgagor here-
by g.~,~~s, bargains, se~~c, a~iens, remises, conveys an~ confirms unlo fhe mortgngee a~~ t~e certain lartd
of whic~ the mortgagor is now seizec~ anc~ in possession situate in St. Lucie Counly,
Floridn, viz: ~
8
The Southeast 1/4 and the East 1/2 of the
Southwest 1/4, less the West 500 feet thereof,
in Section 7, Township 34 South, Range 40
East; and the Northeast 1/4; and the East 1/2
of the Northwest 1/4, less the West 500 feet
thereof, all being in Section 18, Township
34 South, Range 40 East.
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THIS IS A PURCHASE MONEY FIRST MORTGAGE. d j
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, The mortgagee agrees to release from the terms and conditi~s
of this purchaseuuney mortgage such.lands as may be selected by the
i mortgagor beginning at the Northwesterly boundary of the property ^~i
~ encumbered by this mortgage in Section 7, Township 34 South, Range ~
~ 40 East. Releases shall be in parcels of one acre or more, with a'Y ~
width of 250 feet, running East to West. Releases shall run 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 ;
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released and shall be in like width of 250 feet, running from North ~
to South. Releases thereafter shall continue in the same manner in ~
which the entire property, covered by this purchase money mortgage,
in Sections 7, 18, 17 and 8, Tawnship 34 South, Range 40 East, shall ~
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have been released. All releases requested by the mortgagor shall be ~
~ contiguous and shall be released upon payment by the mortgagor to
~ the mortgagee 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 rea•_ired ~
~ releases at the time of payment of principal or at any time thereafter. ~
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The mortgagor agrees to create a tax eacraw account and deposit
~ mon t hly in a savings and loan association a sum equal to 1/12 of the
~ estiunated annual taxes assessed agairs t the property encumbered by
this mortgage. This tax escrow account shall be in existence for
the first two years from the date hereof. ~
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