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Home My WebLink About1564 ~~,~~.~~~_i~ ~~,?a~ ~o . ~ts ~ortg~g~ ~tsD, as~e~i t~ llth d~~ o~ January A.D 1971 ~ RALPH FISCH, Truatee ~ / ~ Y~J ~ LUCILLE V. COSTA ~ . ~ ~i~ter oei~~d t~ Yor+t~~ - . WITNSS.S~r'Tg. TAat Jor diva~ pood ~d val~able co~aulsratio~a, awd also ix oo~aidsration 01 tAs ap~''s~ats a~aw ws~w~d i~ t11s pr+o~aissory ~ot~___ of svsx dat~ lwr~wiN1„ llsrsi~aft~r d~- scribtd, t~s asid Yortpepor pr~t, baryaix, itU, asis~„ re~ia~, *~aas, oo~?~l? a~d oo~i'n'w ~a~to t~s mid Yort~aDaa-. her ~ a~~ ~~a aawpi~, ali t~s certaiw b~aot of la~d, of ~vkick tl~s aad lllortpapor is stissd Md posa~ued, a~d ix oclxol pos- ~ St . Lucie r~y, Stats of F~oridet, desorib~d at fdlows: The South 1900 feet of the North 3~20'feet of Section 10 and 11 in Township 34, South, Range 40 East, lying between Atlantic Ocean and In ian River, in St. Lucie County, Florida, less a 100 foot right-of way for State.Road A-1-A, as recorded in the Public Records of St. Lucie Count , Florida. THIS IS A FIRST PURCHASE MONEY MORTGAGE and covers the entire property this day conveyed to the Mortgagor. RELEASE CLAUSE: ~ ~ The Mortgagee, her heirs, personal representatives and assigas shall release portions of the.subject property as herein provided in tracts ` ~ of not less than 100 feet Ocean Frontage. Said tracts to be measured ~ by beginning at the most South Easterly point of subject property and ~ running North Easterly along the East line of said property for a ~ distance of 100 feet along the Atlantic Ocean. From said point run alo g ~ ~ the North line of said tract extended Westerly until said line inter- ~ cepts with the West line of the Mortgage property at a point where it ~ intercepts the Indian River. The North line of said tracts to be : parallel to the North line of Section 9, 10, and 11, in Township 34, ~ ~ South, Range 40 East. ~ ~ All additional tracts to be released herein shall be contiguous to ~ ~ previously released tracts and the Point of Beginning shall be the ' , Northeast corner to the previously released tract. i The Mortgagee shall release said tracts provided always that the Mortgage is not in default. _ ~ All.~~~nts for partial releases shall apply towards the next ensui ~ j principal payment as called for in the Promissory Note which is secure ~ I by this Mortgage. ~ ~ Principal payments paid shall apply towards releasing portions of the ~ ` mortgage propety in accordance with the formula and method herein set ~ ; forth. ~ I Release shall be computed at the rate of $335.00 per Ocean Front Foo ;i ~ ~ Payments shall be paid in Escrvw to Mortgagee's attorney, Jacob Schne' er, `j x : ~ , 1029 T~eaneck Road, Teaneck, New Jersey. Payments shall be retained in ~I , escraw until such time as recorded partial release constitutea a vali ~ ~ ~ release of the property set forth in same from the herein n~rtgage li . # ~ ; Obtaini.ng partial releases, including the necessary approval of the ~ ` Title Company, and the cost of preparation of same, shall be the expe e of Mortgagor. In determing legal descriptions for partial releasee, ~ } the Survey of A. C. Weatherington & Associates, Inc., dated March 16, 970. ? ; ~ I ~ ~ 1 O ~ ~ ~ P~~560 ~ ~ ~ I . . ~ ~ a ~~r.~ _rt _ = W.: ~.~v.~