HomeMy WebLinkAbout2055 FIlEO ANO RECORQEQ
• ST. LUCiE COUNtr F~A. '
ROCER POtTR~S i ~
- CIERK CIRCUIT COURT
RFC(?H~ Y~R fIEO
Oct 11 12 xo PM'11
, SCHEDLJLE "A"
244'799
Ocean at the rate of $550.00 per front foot, commencing at either the
North or South end and proceed in a contiguous manner.
PARCEL B: That part of subject property lying West of Highway A-1-A
shall be released in minimum strips of 200 feet in width (as measured
along Highway A-1-A) extending from Highway A-1-A to the shores of the
Indian River at the rate of $275.00 per front foot, commencing at either
North or South end and proceed in a contiguous manner.
Either Parcel A or Parcel B may be released indep~ndently of one another,
provided, however, that the last remaining 200 feet in Parcel A may not
be released until this mortgage has been satisfied in full; and further
provided that if releases in Parcel A or Parcel B commence at either the
North or South end of the property, then all releases thereafter in
either parcel shall be in the same sequence so that all unreleased
property of both F~rcels remains contiguous. That is to ~ay, if the
initial release in Parcel A commences at the North end of the property
and p roceeds Southward, then the releases in Parcel B shall likewise
commence at the North end of the property and proceed Southward.
5A. If foreclosure proceedings of any second mortgage or any junior
lien of any kind should be instituted, the Mortgagee, its successors
or assigns, may at its option, imn?ediately or thereafter declare this
mortgage and the indebtedness secured hereby due and payable.
That in the event the premises hereby mortgaged, or any parti~?ereof,
shall be condemned and taken for public use under the power of eminent
d omain, t he Mortgagee, its successors and assigns, shall have the right
to demand that all damages awarded for the taking of or damages to said
premises shall be paid to the Mortgagee, its succe.ssors or assigns, up
{ to the amount then unpaid on this mortgage and may be applied upon the
~ payment or payments last payable hereon.
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