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Ex~ured ~hR ! J day o/ February A. D. ~9gg 6y
ROBERT F. McROBERTS, ~ JR. , as TRUSTEE, ~
hereinaJter ca!!ed the mortga9or, to
RICHARD W. STARR, JR. , as TBUSTEE,
I~ereinaJter calle~l the mortgaflee:
(W6erevcr used 6enin t6e urou ' m« a~o~~~ and '•mortaagee" ioclude all t?e p~rtia to t6is instruae~t and tie ~ein.
k~al repreaenaaves and utiSns ot iwdsvidwb. a~d tbe wcYewrs awd utisws ot carporatiom; awd the urs '•wte••
iaciudes all t6t aota 6ereia dacribed i( mws ~Aaa one.)
~L~~~~ that jor good and valuable constderaiions, a~d also in consideration oj the aggre-
gate sum namec~ tn l~e promissory note o~ euen date herewith, ~e?einalte~ des~bed. t~e mwtgngor here-
` 6y 9.w~es, 6urgains, sells, aliens. ?emises, conveys and conJirn~s unto the moHgagee all tF~e ce?tnin land
i o~ u;hich the mortgngor is now seizec~ ancl in possession situale in $t; ._~,.~1C1@ Co~h?•
Floric~a. viz: ~
PARCEL #1
The North 440 feet of Government Lot 1, Section 29, Township 35 South,
Range 41 East, St. Lucie County, Florida, and the North 440 feet of
Government Lots 1 and 2 in Section 30, Township 35 South, Range 41 East,
St. Lucie Courrty, Florida.
I pARCEL ~2
l The South 440 feet of Government Lot 1, Section 29, Township 35 South,
i R,ange 41 East, St. Lucie County, Florida.
Z`OGETHER with all riparian and littoral rights thereunto appertaining.
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; SUBJECT to zoning and bulkhead restrictions in force and effect.
~ SUBJECT to the now existing right of way of A-1-A Highway and SUBJECT
~ ~l to Old Beach Road right of way. ~
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j ~ In consideration of the payment by Mortgagor to Mortgagee of the sum of
~$32, 500. 00 upon closing of the purchase of the above described property, and
~ in consideration of the payment or prepayment of the sums due under this
~i mortgage and the note secured thereby, the Mortgagee agrees to release from
ii the lien and operation of this mortgage portions of the lands encumbered, in
~ accordance with the following schedule:
~ 1. Oae foot of land fronting on the Atlantic Ocean, and extending to the
~ West boundary of the property, shall be released for each $175. 00 so paid~
2. _ Parcel #2 must be rel.eased in its entirety prior to the selease af
~ Parcel ~1, and ~ust be released from South to North._ When no less than .
235 feet of said Parcel #2, as measured along the Atlantic Ocean, remains
unreleased, said remainder must.be released in its entirety upon payment
at the r2~te .of $175. 00 g,er. foot, as aforesaid. - . ~ -
3. Whenever a release shall be requested, Mortgagor shall furnish
Mo~gagee with a description of the lands sought to be released, and the
Mortgagee shall thereupon executa and..deliver a recordable wsritten ir~atrument
releasing_said lands from the lien of this mortgage, as herein provided. The
cost of preparing and recording such releases shall be p~id by the Mortgagor. ,
~ ~ 4. Releases may be requested at any time after they have been earned,
I and need not be ie quested at the tune of payment therefor. In this regard,
~ it is expressly understood that the Mortgagor is entitled to releases based
~ on the sum of $32, 500. 00 paid at closing of purchase, in accordance with
the aforesaid rate of $175, 00 per foot. ,
This Instniment Prepo~ed byi
ROBERT F. MeROSERTS, JR.
~0~~~ A1ttOrney ot ~.OW
103 Eo~t Ocean Blvd.
~ ~ Stuort, F(orida 33494
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