HomeMy WebLinkAbout0627 1 ;
167, Page 1241), the lien of the mortgage will be .
released upon the payment of $1,000.00 per lot.
(c) With respect to that portion of Parcel 4
situated on the East side of Highway A-1-A fronting
1,597.90 feet, the lien of the mortgage will be re- ~
leased upon payment of $50,000.00 which Parcel is f
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subject to a separate purchase money mortgage recorded
in Official Records Book 192, Page 1I22, St. Lu~ie
County, Florida.
-(d) With respect to that portion in Parcel 4 ;
fronting 183.65 feet on the West side o~ Hiqhway
A-1-A and extending back to the waters of the Atlantic
Ocean, the lien of the mortgage will be rel~ase3 ugan
gayment of the sum of $70,000.00.
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3. Notwithstanding the provisions of the notes to
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~ the contrary, monthly payments in the amour.t of $250.00 as to
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~ each note (a co~r~ination amount of $500.00 for the two notes)
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shall be made each month on or before the first day and thereof
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~ if default be made for thirty (30) days in the payment of such ;
amount, at the option of Ellison, his successors and assigns, '
the entire amount unpaid on each of the notes may become due
and payable at once, without notice. Such $500.00 shall be
exclusive of interest which shall likewise be payable monthly ;
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- and calculated at the rate of 6% per annum. Payments for lo± ~
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releases or partial releases shall apply to reduce the principal
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~ a~K 194 627
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