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IEWIS G. NA1 .:5~ 11. AttorMY ~~A~O~
' 453p N~rih ~o:.aral Hiahw33a~ a
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Earecueed the day o~ June A. D. t9 68 6y !
THE KINGSLEY CORPORATION,
a c~orporation existing under t~e lawa o/ Flor ida , nnd hauing ifs p~incipul p~ace of
busineaa at
hereinajter called t{~e mortgngor, to JOHN L. TURPIN ~
- 1512 N. E. Slst Street
~hose ~~oJ(~~ add~ss ~ Fort Lauderdale, Florida
i
he~+einaf
ter ca~ the mortgngee:
(WAerever uscd hereie t6e ter~ •~mort¢asor•• aad mortsa~ec•• iedude all thc partia w t6is imwmcet and the heirs, ~
klwl rcPreacaudves aed axi~as ot ind~v~duals. and tse ~uca~aors asd usisro o( corporatiom; and t6e urm ••aote••
induda a0 t6e aota Acrcin dartiEcd 'J mo~e than ooe.)
~1~I~1~~ lhat jor good and valunble considemtions, nnd also in consideration o/ tF~e aggre-
gnte sum named in i~e promissc~yy'nela.~ euen date {~erewith, hereinajter c~escri~, the mortgngo~ here-
bf grants, bnrgains, sells, aliens, remises, conueys and conJirms unto tl~e mortgagee nll tf~e c~ertain Iand
of whic~ t{~e mortgago~ is now seized ared in possession situate in St. Lucie L'ounty,
Ftoridn, uiz: ~
0
The Northwest 1/4 of the Northwest 1/4 of
Section 17, Township 34 South, Range 40 East. ry~~.
THIS IS A PUR~Si~E MUNEY FIRST M~ORTGAGE.
The mortgaqee 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 East. Releases shall be in parcels of one acre or more, with a -
width of 250 feet, running East to West. Releases shall run from~
~ the Northerly boundary South to Indrio Road. After a~*_-~e? 250 ee
in width has been released from North to South, the next parcel ~
' ~ be released shall be immediately contiguous to and East of the parce :
.
released and shall be in like wi3th of 250 feet, running from North
F 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, Township 34 South; Range 40 East, shall ;
~
have been released. Al1 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 required
releases at the time of payment of principal or at any time there- ~
~ after . ;
~ ~
~ The mortgagor agrees to create a tax escrow account and deposit E
~ monthly in a savings and loan association a sum equal to 1/12 of the
~ estimated annual taxes assessed against the property encumbe=ed by ~
~ this mortc-~ge. This tax escrow account shall be in existence for ~
~ the first two years from the date hereof. '
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