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RIDBR TO MORIGAG$ DEED i
DATBD MA~H 1969 ~
' B6IWBEN HDLIDAY 0 UT IN At~RI,CA AT S T. L~ IB, INC . I
, and ESTATS OR IRVING I. RA1Z, Deaeased, ;
; LILLIAN TANNBNH~AtM, FAYR SANDIER and IFANA~tD KANT~O~.
as Sub$titutesTrustee• Under the I.ast Will and ~
, Testament of DAVID KANTO~L, Deceased, MARY COHEN
~ WE1SS and JOSSPH FSL~DMAN , ;
~ Enc~nbering: All of L~ts 1 and 2, Sec. 11,
Township 37 South, Range 41 East, et .
~ St. Lucie Covntq, Florida ~
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- ! 23. All payments of principal and interest on the promissory!
;i note aecured hereby shall have a thirty (30) day grace period i
~ before default. {
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fi 24. The indebtedneas on the proanissory note secured by this~
~ mortgage may be prepaid in full or in part at any time hereafterl
~ except that during the calendar year 1969s the prepayment privi-i
G lege ahall only extend to that amovnt which, together with ;
~ cash at closing and all cash received received, together with ~
" the first mortgage principal payment dve hereumder ahall not ~
i~ exceed twenty-nine (29x) percent of the toCal purchase price, ,
to-rwit: $78,880.00. I
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25. The mortgagor herein shall have the right, at ita i
' expense, to aubdivide and plat the mortgaged pz~ises as a j
~ travel trailer resort and/or mobile twme park and related !
f+ facilities, and the mortgagees agree to join in such plat, ~
provided, tw~ever, that such plat shall confonin to all appli- :
~ cable la~s and regulations of St. Lucie County, Florida !
~ pertaining to plats . ~
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2 6. RELE~SE CLAi& B: '
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The real prnperty encunbered by this mortgage may be ;
~ released from the lien hereof upon the follo~ing terms and ~
conditi~ons :
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~ A. Attached hereto amd made a part of this mortgage ~
~ is a sketch of the release provi8ions and areas. `
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~ ,(1) Parcel A, consiating of all that portion ?
hi of the sub3ect portion lying East of State Road A-1-A, ~
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shall be the last parcel under the mortgage to be ;
" released. • ;
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~ (2) Parcel B shall be platted to contain no ~
: leas than one hundred tt~enty (120) lots. Th,e ~
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mortgagees agree to deliv er partial releases in lo ts
F in Parcel B at a pri~ce of Three Hundred($300) Dollars ;
` for each of the said lots, provided, h~owever, that the ; ~
~ releases ehall be in groupa of ten (10) Iota, and all
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of the said ten (10) lots shall be contiguous. ;
~ the first release, further ~~c~oups of ten (10) lote ~
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; shall not be required to be contiguous except that the ;
~ lots ~ithin each group ahall at all times be contiguous. ~
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MARRY iUK[RNICK A7TORN[Y AT LAW Ai0 LINCOLN ROAD M1AMI B~ACH 38, RLORIDA } ~
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