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F.xecuted the $+,:h day oJ March A. D. ~9?2 6y '
BEACH CLUB COLONY OF STUART, INC.
a corporalion exisiing under fhe Inu?s o/ Florida . and tiaving its principa~ p~ace oJ
bus~ness at Surf Drive. Hutchins on Island~ Stuart~
hpreir~aJter called !he morlaagor, to FIRST N9TIONAL BANK AND TRUST COMPANY
OF STUART, Stuart, Florida~ a national banking association,
~~~~~js~~~~l~~~~~~ I~Yil~~ its permartent poslo~(ice
add~pSS a~ 815 Colorado Avenue, Stuart, Florida ~
{~ereinafter ca~~e~ f~e mort4~a~ee:
(N'hcmtr uxd hettin tht terms `•mort4~[or•• and "an~rtpaQee" i~clude all the putics to tdis imwment and the hein.
kqal repres:auti~es aad as+i4m o( individwla, aud the ~uccessurs and assiKns o( corpu~atiuns: and i6e term •'no[~'
inclueks all the notes bercin descriEed if more thae one. )
' ~~111~e111~ that ~or ~ood a?td naluable consideralions, and also in consideration of I?~e a,ygre-
~ ~ale sum namp~ in ttie promissory nofe o~ enen c~ate I~ereu~ill~, I~ereinajter descri6ed. Ihe morl~anor ~iere-
! by c~rants. 1~arflains, sells..alieeis, rnmises, coni~eys and con/irms u~to the mortgagee alI Ihc~ ce?lain Im~d
o~ io~~ic~~ f{~e morl~a~or is noin seize~ a?u~ in possession sifuate in St. Lueie Cow~ly,
j t'~~~«~~• as set for more particularly in Exhibit "A" which is attached here-
y' to and made a part hereof.
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~ It is understood that a portion of the hereindescribed property, consisting of
six (6) separate parcels, will be dedicated to condominium use and ownership.
j In any such event, on request mortgagee herein agrees to release from the lien
and operation of this mortgage each such parcel, upon payment to it by mort-
~ gagor the sum of $20, 000. 00, said payment to be applied wholly to the uripaid
principal balance and provided that mortgagor is not in default under this mort-
j: gage, or has failed to cure same, at the time of said request. ~
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ao~ 200 848
rv~` This InstrumEnt Prepared Br G?R~ F. ELLWANGER, Attorney At Law~
~ ~ 41 E. O;.~a~ BSvd., P• 0• Box 1853, Sts:a~t, Florida
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