HomeMy WebLinkAbout0825 rOAtOAO[ O[C~ . 225~44 •V RAMCO IOAM REi
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Exe~uted tl~e l Oth day oJ February A. D. tq 72 ay
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~ LUCILI~E V. COSTA ~
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~I hereinaJter called the mo?tgngo~, to NATHAN PHILLIPS dIld ELTON MELTZERi T7ruSteeS ~
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herei?ia~ler called the mortgagee:
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~I (Wbere~:r uxd 6ereis t6e terms "vort~. and "mo~rtp~cc" i~dude ali tAe prtia a ~l'u iaaw~e~t ~~d t?c ?ein.
k~al repnaeautives aed .~a~ups o( _i~d~ad tlc woce~ora aod a~qd o( aw~o~atio~s; aad tk tera ••~otr••
iacludes all tAe wta herw deacribcd aore oue.)
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~ltn~~~ that f
or good and vnluable corulde~tioru, and also i~ considemtion o~ the aggre-
~ gafe sum namec~ in I~e promissory note o~ even date her+ewit~, tiereinajter descrt~. t~e morlgagor ~e?e-
!j 6y granfs, bar{~ains, sel~s, a~iens, remises. conveys and con~irnu unto the mortgngee aU tl~e certnln land
f o( whic~ f~e mortgagor u nou~ seized and in possession siluafe in St. Lueie (.'ountp.
~ Florida. vix:
Lots 15 and 16 in Block 2 and Lots 15, 16, 17, 18, 19, 20, 21, 22
~ and 23 in Block 3 of CORAL COVE BEACH, SECTION ONE, According to
~ the Plat thereof recorded in Plat Book 11, Pages 30A and 30B
of the Public Records of St. Lucie County, Florida. -
~ THIS IS A PURCHASE MONEY MORTGAGE.
~ RELEASE CLAUSE:
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I The Mortgagor, her successors or assigns shall be entitled
to release lots from the lien of this mortgage on payment
i of the amount of $7,000.00 principal for each lot released upon th~
following terms and conditions:
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~ 1. The mortgage mus t be in good standing in all respects at th~.
~ time of application for such release.
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~ I 2. The Mortgagor shall at her expense prepare the proposed parti 1
~ release of mortgage and submit it to the mortgagee with the principa
f payment plus all accrued interest through the date of the release.
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~ 3. The Mortgagor shall bear all expenses in connection with the
~ preparation of and recording of partial releases.
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~ ~ 4. All release payments shall apply to the next ensuing principa
~ I' payment.
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~ ~ 5. All required principal payments or any portion thereof not
~ I previously applied toward the release of any lot may be applied
~ ~ toward future lot releases.
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