HomeMy WebLinkAbout1550 Fotm 122 Fbnda l~tORTGAGE OEED Fa Psoiosiu R.co.a~y `
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L~'xecutert thc 17th day oj N~y .ii. D. Iy72 ,
by a~tD~i 3. NUTT HOLDINa C ONiPANY, INC . ~
a corporation~ existing under the taws of the Stctte of Florida
and havin~' its principal place oj bu.4iness ot Orlando, O~cBnge Cout~ty, Florida,
party of the ftrst part, hereinajter aulled the .hfort~'agor, to
N~RTH B$ACH DSVSLOPI~+~NT COl+~ANY, a Florida corporation,
of the County oj 3t . Lucie State of Florids
part~/ of the second part, hereinacfter cacZled Lhe JKort~a~ee,
~i~ne~c~cet , Thut or c~ivers
~ f' $ood and vatrcacble consi~erations, and a~so i~
J consideriation of t/ie a~~regate suna named in the promissorrJ note of even date here-
~ with, hereina
fter described, tlie said :Jlfortga~or ~oes grar•nt, bar~6ain, selt, alien, remise,
~ release, conveJ an~l confirnt unto the saicl J41ort~sa~ee, in fee sim~~le, alt t/re certain
w trctct of l,ctnd, of tc•ltich. tlre scti,d JK'ortgagor is noi~ sei.zec~ nnd po,ssPSSe~, an~ in acctruLl
possession, situate in 3T. LUCIB Co~cnt~, Stccte of Floridac,
s described as follows:
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All of that certain property deacribed in 3chedule "A"
8ttached hereto snd made a psrt hereof.
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= THI3 IS A PURCHA.4S M~IBY SBCOND M~t'aA(~ aa to part of said propert
m'" ~ d a pIIRCHAS,g MONBy THIl~D MORT4At~S ae to
S part of said property sub~ect
a~~ nly to those certain mortgagea to ST. LUCIS COUNTY BANK and to MIDLAND
~ ~ t~iTt#At~B C8.
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3 z; Thie mortgage shall be subordinate and inferior to such new Mortgag
not more than one ) as may be placed on any of' ~c~e property covered
~ 3~ ereby by the Mortgagor, not exceeding O~1S MILLIpN TWp HUNDRSD THpUSpND
t Z~ o ~LLAR3 (~1,200y000.00) provided that the mortgage to MIDLAND M~iTQA(}8 ~
r-; U _n . rwr__Al+flP_d 8~multaryeousla~ herewith ahall be paid oPf prior to or at ~
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x~ he time of the recording of 9uch ner? mortgage and the Mortgagee
erein ~rill eaecutc auch instrument$ as may be required by eaid new
~ o r t g
a
g
e e t o a ss u
re suc h su
bor d ina
t ion.
0
~
~ Mortgagee covenants and agrees by acceptance of this mortgage to
elease lands from the lien of this mortgage from tinee to time as
elected by the Mortgagor from any of the parcels at and Por the release
rices and upon the terms and conditiona as hereinat'ter set forth in
chedule "B" attached hereto and made a part hereof.
~ Provided ~1n
ther that, the original mortgage to MIDIAND MORZGAGE COMPANY, above
referenced, and e~ new Mortgege to which this Martgege is subordinated es abave pro-
vided shall be paid in f1~11 on or before 4 years from date hereof. ARy default of
thiS provi.sion shall constitute a default Under terms of this Mortgage.
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~o ~abe anb ~o ~oib the sacme, to~'ether wiLh the tene~rtents, hereditd-
ments and ctppurtenances, unto the said Mortgagee in fee sirnple.
.
.t~ttll said .hfortga~or does eovenant zuith said ,1Kortgagee th,at said .1Kort~a~or .
is indefect,sibly aeized of said ldnd in fee simple; that the sdid .1Kort,~a~or has ftclt .
pvwer and lacwful right to convey said land in fee simple as aforP.aaul; that it shall be ~
~ lawful for so.id .Mort~agee at all tintes peaeeably and quietly to enter upon, hold,
occupy and e~tFjoy said land; that said Zand is free frorro dll incumbraccnces; that said
~ .JKort~sa~or will make such further assrc rances to pei
fect the fee 8imple title to said q.
lartd tn aaid JKortgagee as may reasonably be required; and that sccid ,~Kortga~or
does hereby fully warrant the title to said larcd and will defend the sa~me ccgain8t the
l~twful ektim~ of all person8 whom.soeuer. ~2 1549
MIDSTATE LEGAL SUPPI.Y CQMPANV ~oO~ P~rt
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