HomeMy WebLinkAbout2456 i~.. lMM w~.~. iy . a-~' `IV~~~ . r L/
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~•d ~r of Jauauary A. D. ts ~l by
LAKESIDB.GARDSNS, INC. ar?d M-W-G CORPORATION
q~oo.por+neio~e•x,t,etnp w~d'K rl?.lawra o/ Florfda , ond liavt,~p ua princtpal pl.o. oJ
6w~n.s, a Fort Pierce, Florida
Iunrtno~tK oa~ f1~~ nwrtQapor. to
LEON D. MILLER .
Wl?o,. ~.eoJju. add~ss 10275 Collins Ave. , Bal Harbour, Fla. 33154
~ h..+an%.r coll.d eli. morlpop«:
(W~nawr we~ M~~ t~e ~e~ ••Mr~a~Or'• rd ~~e•• i~cl~e dl ~?e MrtiM a t?i~ i~rtr~t ~ tM ~ar~
4d n~ae~ntiw d d udnndrJr. u~l t~ ~.oaMn u/ wi~~ ~1 o~~ow; ui tw ~"~e'
iwcl~e~ ~Y 1M MMt it tir~ eM.)
thnt ~or good ~d ~l~,obb corvtd..~tto.~, and also in consid~otton o) tl~~ aggn-
gnt~ sum ~n~ned In t1~t pro~ntaso~r ~tot~ o/ twn date h~r~u~i~h, htninajter desni6ed, th~ moMgopor kero-
6y grnnb. 6argoins. sellr. aii~na. n~niata. oonwps and con/irma unto the rnortga9~ all t1~ cv~atn bnd
of which t~t morlgagor ia rw~u seifztd nnd tn poss~asioa situats t~ Saint Lucie Cou~.ti,
Florida, viz: '
From the Point of Beginninq which is the Northwest corner of the
NE~C of Section 27, Townshig 35 South, Range 40 East, St. Lucie
County, Fla., run North 88 54' 20" West alonq the North line of
said Section 27 a distance of 152 ft. to the easterly riqht-of-way
of U. S. Highway No. I; thence ~un South 00°O1'08" East alonq
the Easterly right-of-way of U. S. Highway No. I a diatance of
922 ft; thence run South 88~54'20" East a distance of 2733.21 ft; _
thence run North Ol°46'46" West a distance of 923 ft. to the north
line of said Section 27; thence run North 88°54'20" West alonq ~
the north line of said Section 27 a dietance of 2552.84 feet to
the Point of Beqinninq; comprising 57.54 acrea, all in St.Luaie
County, Florida.
THIS IS A SECOND MORTGAGE
It is understood and agreed that this mortgage is giver~ to secure,
in addition to the note or obliqation above described, any additiona
, loans or future advances made within twenty years from date hereof
` by the mortgaqee to said mortgagora or any successor in title of sai ~
f mortgagors of the property hereby conveyed; provided that the total ~
; unpaid balance of the indebtednesa secured hereby at any one time
F shall not exceed the maximum principal amount of $800,000.00, plus
~ interest thereon and any disbursement made by the mortgaqee for
~ the payment of taxea, levies or insurance on the property encumbered ,
~ hereby, with interest on auch disbursements. `
~ Future advances shall be evidenced by aeparate promissory notes :
~ and if any installment of principal or interest on any promissory '
~ note secured by this mortqage is not paid when due and such default
~ continues unrectified for 30 days, then the entire indebtedness
~ secured by this mortqaqe and remaininq unpaid on all notea shall,
~ at the option of the holder, become immediately due, payable and
~ collectible . ' ~ ' .
~
~ So lonq as mortgagor is not in default, mortgagor shall be entitled
to have portions of the West 400 ft. of the above described property
~ released from the lien of this mortgage upon the following•terms and
~ conditions: (a) The parties acknowledqe that the West 400 ft.
~ of the subject property fronts on U. S. Hiqhway I and mortgaqors
$ shall be entitled to the release of one (1) foot of said frontage
~ for each $100.00 paid upon the principal amount of the indebtedness
~ secured hereby; (b) Once any part ~af the sa~d Wegt 400 fti.' ~has
~ been released from the liea of this- mortqaqe,~ ttien a21~ future
~ parcele released shall be contiquous to a parael previously releaee .
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