HomeMy WebLinkAbout0313 I V `f
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E 3~ F.x~u~pd ~hP v~ day oJ A. D. ~q ~ 2 6y
~ ~ ~ HENRY H. CLAYTON
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~ hereinaJler called the mortgagor, fo VINCENT R. GORHAM~ SR. and RUTH GORHAM~
his wife,
hereinaJter called the mortgagee:
(W6ertver u+ed berein tAe terms "matsa~oi~ aed '•mort~casee" iech~de all tAe partiea a tiit iaswse~t aed ~1e ?cin,
{eRal repre~eaati~ts and ari m of isdiriduh. a~d t6e wccenon aad a*+Ra a( corporatio~s: asd the tera ••wte••
inrludn dl tAe w~es herciw ~ribed it mae ihaa onc.)
t6a1 ~or gooc~ and ualunble c~onsic~ernfiorts, ancl aLso in consic~eration o( the aggre-
~ gale sum nnmec~ in !~?e promissory note o~ even dale herewifh. ~ereinajter described, t~e morlgagor here-
~ 5 ~ 6y grants, 6arguins, sells. aliens, ?emises, conveys and confirms unto the mortgagee nlI the certuin land
o/ w h i c h t h e m o r t g a g o r i s n o w s e i:. e
d a nd in p ossesaion sifuate in St. Ll1C1E'. County.
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Z Floric~b. viz:
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a~~ That part of the N 1/2 of the N 1/2 of the SW 1/4 of Section
z~~~ 21, Township 34 South, Range 40 East, lying East of the right
~~Im of way of the Florida East Coast Railway; Together with that
part of Government Lot 3 of Section 21, Township 34 South,
,~ir W~ Range 40 East, lying within the NW 1/4 of the NW 1/4 of SE 1/4
of said Section 21 and being that portion of Government Lot 3
lying directly East of the N 1/2 of the N 1/2 of the SW 1/4 of
said Section 21, together with all submerged lands and riparian
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rights as may appertain thereto.
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EXCEPTING THEREFROM, all rights of way for public roads,
public utilities, and the easement for intracoastal waterway.
This Mortgage is given and accepted with the understanding that
Mortgagee will, upon.written request from Mortgagor, release
from the lien of this mortgage, lands in tl~ five (5) acre tracts
beginning at the NW corner of mortgaged~~roperty and e~ctending ~
East to the Indian River; the atdount to be paid for each acre of
land released is $3,000.00 per acre. After the first five (5)
; ' acre tract is released,each successive five (5) acre tract
released shall be contiguous to the tract previ~us~y-released.
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e All payments for release of land shall be applied to the next
maturing installments of principal maturing under the note
j secured hereby. Payments made on account of the note secured
F hereby, where such payments are other than those which were
¢ made for a release of land, such as annual or quarterly amortizati n
~ payments, shall likewise entitle the Mortgagor to receive releases
F computed in accordance with the terms set forth above.
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~ - THIS IS A PURCHASE Ir!ONEY FIRST MORTGAGE
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