HomeMy WebLinkAbout0068 348.68 feet to the point of beginning; thence North
89°33'54" East, 110.99 feet; thence North 16°37'23" East,
59.95 feet; thence South 86°42'34" East, 204.99 feet;
thence South 37°42'24" East 1~9.00 feet; thence South
27°17'34" West, 197.01 feet; thence South 65°17'23' West,
154.01 feet; thence South 24°42'32" East, 123.00 feet;
thence North 89°42'43" West, 260.02 feet to a point on the •
said east tight of way of Oleander Avenue; thence North
00°26'26" West along said right of way of Oleander Avenue
444.99 feet to the point of beginning, t
by a partial release of mortgage dated October 1972, recorded
in O.R. Book ~ 07 , page of the public records of St. Lucie ,
County, Florida;
WHEREAS, Gulf-Atlantic has mortgaged the real property
remaining encumbered by the first mortgage as above described by
a second mortgage deed dated October 1972, recorded in O.R.
Book ,tO7 , page of the public records of St. Lucie County,
Florida, to secure an indebtedness evidenced by a promissory note ~
in the amount of $ (r'7 3~ and
WHEREAS, the balances, both principal and interest, of the
indebtednesses evidenced and secured by the two promissory notes
and mortgages above described as of the date hereof are as follows:
First Mortgage $ 263,732.62
Second Mortgage 96,267.38 ~
Total 60,000.00
WHEREAS, the parties hereto have agreed to consolidate the ~
two r~ortgage liens and the respective indebtednesses by each secured
and to modify the term of the consolidated debt in the same manner
and to the same effect as though a single promissory note evidencing -
the aggregate debt, at the rate of interest hereafter specified, and =
a first mortgage deed securing the same were executed by `
Gulf-Atlantic and delivered to the Association;
NOW, THERLFORE, in consideration of the sum of $10 to each in
hand paid, the receipt whereof by each af the parties is to the other
hereby acknowledged, and other good and valuable considerations
inuring one to the other, it is mutually understood and agreed as
follows:
1. For value received, Gulf-Atlantic Investments of Fort
Pierce, Inc., a Florida corporation, 36 months after date, promises
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