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All that propert3r lying South of a line running from East to West from the
Atlantic Ocean to the Indian River 3220 feet South and pe~ra11e1 to the North line of
Section 9,10 and 11 and lying North of a parallel line lying 207 feet North of the
South line of Sections 10 and 11, said line being the North boundary of Lot 88 of
Avalon Park Subdivision as per plat thereof on file in Plat Book 1 at page 187 of
the Public Records of St. Lucie County, Florida as extended in a direct line to the
East shore of Blue Hole Cut, a cove of the Indian River, all of the above sections
being in Township 34 South, Range 40 East, St. Lucie County, Florida.
Said tract having 1900 feet more of less of frontage on the Atlantic Ocean as
measured on the North-South basis.
TOGETHER with all riparian and littoral rights thereunto appertaining.
SUBJECT to the now existing right of way of A-1-A Highway.
SUBJECT to zoning restrictions of record;
A default in the first mortgage on this property constitutes a default of this mort-
gage.
RELEASE CLAUSE
The Southerly 400 feet of subject property (as measured along the oceanfrontage)
with the North line of the released parcel being parallel to the South line of subject
property shall not be encumbered by this mortgage.After $52, 000.00 principal has
been paid' partial releases shall commence at the South boundary of the remaining
subject property and shall continue from South to North so that all released lands
are contiguous. All released land shall be in strips of land extending from the
Atlantic Ocean on the East to the Indian River on the West in multiples of not less
than 100 feet of frontage (as measured on the perpendicular from South to North).
The mortgageehis heirs or assigns may obtain releases upon the payment of $120
per front foot of land to be released, Except for the first $52, 000.00 principal
Regular annual payments and/or prepayments shall be cumulative toward partial re-
leases. All paymert s of principal made on this mortgage shall apply to the next
ensuing annual principal payment due.
FtL.EO AND RE TY~FI.A•
ST. LUC- R~ vER1~1FD /~
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18325
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