HomeMy WebLinkAbout2968 , ~ . .
ti ~
v
~ . ' FUTIJR~ ADVANCS MORIGAGE
THIS PUTURE ADVANCE I~ORTGAGS DEED, executed the day of
~Q~i~1~~ , A. D. 1970, byINDIAN RIVER FOODS, INC., a
Florida corporation, party of the first part, to the ST. LUCIE
COUNTY BANK, a F~orida banking corporation with its principal pla
.of business in Fort Pierce, Florida, party of the second part:
WHEREAS, INDIAN RIVER FOODS, INC., a Florida corporation,
party of the first part, has executed one certain promissory note
bearf~cig the date of ~w?~ ~ ~ A. D. 1970, for the pri
~ cipal sum of ONE HUNDRED ($100.00) DOLLARS, payable to the order
of said party of the second part wf th interest thereon at the rat
of eight (896) per cent per annum, repayable on or before five (5)
years from date, and
WHEREAS, the said party of the second part may at its option
and in its sole discretion hereafter during the continuance of
these preeents, make further advances to the said INDIAN RIVER
FOODS, INC., a Florida corporation, party of the first part, in
an amount not to exceed TW0 HUNDRED TNOYTSAND ($200,000.00) DO
~ in addition to the afo~ementioned ONE HUNDRED ($100.00) DOLLARS,.
~
~ interest from time to time adjusted tote comparable to interest
~
~ charged on similar loans at the tim~e of said advance, but not ex-
~ ceedfng ten (10~) per cent per annum, and
. WHEREAS, the parties hereto do comienant and agree that any
. and all outstandi~g advances and~the ONE HUNDRED ($100.00) DO
~ herein referred to shall be du~e and payable no later than five (5)
years from date, and that it is intended that all indebtednesses
of the party of the first part ow~ed to the party of the second
part as a result of this Future Advance Mortgage with interest
thereon shall be secured hereby:
NOW THIS II~IDF1dTURE WITNESSETH: That the said party of the
first part in cansideration of the sum of ONE HUNDRED ($100.00)
DOLLARS and the additional sum of Ten Dollars and other valuable
CHARIES E. ~IT
• ~ • owwe ~ ~~w
s~ .~.c~~ tou~r•
•.K~ w.?aw6
• o wa w ~
c~~FT nE11CE. i1011WA
,
. .
~ -
_ . - ~