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~RTOAQ` OEED
.ONO FOIIM ? RAMCO'ORY 11[6 f
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F:![PCtt~~ ~hP 8th dny oj September A. D. ~972 by
FRANKLIN INVESTMENTS, LTD., a Florida Limited Fartnership, by and
through GERALD FRANKISN, Managing General Partner
hereiria(tPr cnllec~ the mortgagor, fo GEORGE A. SIMON~ Trustee
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I~ereinaJter calletl the morfgagee: ~
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IWeere~Yr used 6erein the teram "mortRa~or" aed "a?oriRasee" iarlude aU tAe pu[iea to t6b iastrumest aad t1e ?ein, ~
ktal r~prexntati~cs and ani as ot iadividuab, aad tbe succea~xa and as+iSes o( corporatioas: aad t6e t~rm ••eote••
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includes all t6e outes 6ereis ribed it more tAaa oae.)
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~~Se~~ that ~or good and valuable c~nnside~tions, and aGo in con:ide~alion oj the aggre-
gate sum named in !he prornissory note o/ ee~en date {ierewill~, I~ereina~ter Jescribed, the mortgagor here- `
by granfs, barpains, sells, aliens, remises, conupys and conJirms unlo the mortgugee all tlee certain lnnd
of w{~ir{~ fhe mortqagor is now seize~ and in possession sifuale in St. I~Cl@ ~.'ounty.
Florida, viz:
The North 150 feet of the South 770 feet of Government
r Lot 5 of Section 18, Township 35 South, Range 41 East,
St. Lu~ie County, Florida.
In the event of default, the mortgagee shall look solely to the ~
lands secured by this Mortgage through foreclosure proceedings,
and there shall be no personal iiabxlity on the part of the mortgago
hereof for any deficiency or otherwise as a result of a Foreclosure. ~
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The Mortgagee shall release portions of the subject property from
the lien of this mortgage, provided that same is in good standing \ ~
at time of request for releases. Each release s2za11 be for a portio i
of theproperty contiguous to previous releases. All payments made ~
for releases shall be credited and applied towards the next ensuing }
principal payment or payments and any portion or all principal pay- ~
ments made shall be applied towards the release of additional ~
lands fic~m the lien hereof. The release price for o~ean frontage
shall be computed at the rate of $500.00 per foot released. Should °
N:ortgagee fail or refuse to deliver the partial releases as herein ~
requested by the mortgagor, all interest due or to become due on f
the promissory note secured hereby shaZl cease, and all principal ;
payments due or to become due shall abate until the mortgagee has ;
comp].ied with sudirequests. The Mortgagee, his heirs and assigns,
shall join the mortgagor in any platting anc~/or replatting and
dedication for road-right-of-way to which~the entire or portion
of the property herein may be subs*.??itted. Mortgagee shall not ~
be liable for any costs in cannection with said platting, re-
platting dedications and otherwise, and shall be paid for releasing
tracts in accordance with the terms hereof. All releases shall be
prepared and executed at Mortgagor's expense.
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THI S I S A PURCHASE MONEY FI RST MORTGAGE. ;
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