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RIDEx 1~0 M~RTGAGE DEED .
DATED MARCH 1969 `
B8IWSEN NQLIDAY 0 V.C IN AMERICA AT ST. LUC IE, INC ~ ~
and ESTAIE OR IRVII~iG I. KA1Z, Deceased, ~
' F LILLIAN TANNENBAII~i, FAYS SANDIER snd LSONARD KAN1~pR1 ~
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as Subs titu tec 1Yue teea Under the Las t Will and i
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, t~ Tesrsment of DAVID KAN1~p8, Deceased, MARY COHEN i
WETSS and JOSEPH FSI~MAN ;
Enc~nbering: All of Lots 1 and 2, Sec. 11,
} Township 37 South, Range 41 East, etc.
St. Lucie Covr~ty, Florida '
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` 23. All payments of principal and intereat on the promisso ~
note secured hereb shall have a thirt ~
y y(30) day grace period !
before default. ;
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; 24. The indebtednese on the promissory note secured by this;
mortgage may be prepaid in full or in part at eny time hereafter;
except that duri~g the cale~dar year 1969, the prepayment privi-;
lege shall only extend to that amount which, together with
~ cash at closing and all cash ;eceived receiyed, together with
the-first mortgage principal payment due hereunder ahall not
exceed twenty-nine (29~) percent of the total purchase price,
to~wit: $78,880.00. l
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25. The mortgagor herein shall have the right, at its
expense, to aubdivide and plat the mortgaged premises as a !
' travel trailer resort and/or mobile home
park and related `
facilitiea, and the mortgagees agree to ~oin in such plat,
provided, however, that such plat shall confoYm to all appli-
! cable lawe and regvlations of St. Lucie Covnty, Florida
pertaining to plats .
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; 26. RELF.ASE CLAtBE: ~
The real property encu~bered by this mortgage may be ;
released from the 1.ien hereof upon the following tenne and ~
conditions : -
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A. Attached hereto and made a part of this mortgage ~
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is a sketch of the release provisions and areas.
(1) Parcel A, consisting of all that portion ~
of the subject portion lying East of State Road A-1 A, ~
shall be the last parcel under the mortgage to be
released.
~ (2) Parcel B shall be platted to contain no
` lesa than one hundred twenty (120) lots. The
- mortgagees agree to deliver partial releases in Zots
in Parcel B at a price of Three Hundred($300) Dollars
for each of the said lots, provided, however, that the
releases shall be in groups of ten (10) lots, and all ;
of the said ten (10) lots shall be contiguous. After '
r the first release, further ~t~oups of ten (10) lots
ahall not be required to be contiguous except xhat the
? lots Within each group shall at all times be contiguous. '
~ ~ 177 ~ ?26 ~78 ~~E 190
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' ~ NARRY ZUK[RNICK ATTORN[Y At LAW J~p LINCOLN ROAD MIAMI B[ACM S~, l101lIDA
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