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AGREEMENT NOT TO ENCUMBER
THIS AGREEMENT, made and entered into this C~ day
of December , I97 2, by and between NORTH TRAIL GOLF
CLUB, INC., a Florida corporation, hereina~ter referred to as "NORTH
TRAIL," and TRAFALGAR COMMUNITY DEVELOPERS, INC., a Florida corporation,
hereinafter referred to as "TRAFALGAR DEVELOPERS".
W I T N E S S E T H
taHEREAS, NORTH TRAIL is the owner in fee simple of the lands
situated in St. Lucie County, Florida, more particularly described on
Exhibit A attach~d hereto and made a part hereof, hereina£ter referred
to as the "Premises", and
WHEREAS, as partial consideration for and in accordance c~ith
the terms of Paragraph 7 of that certain Agreement of Purchase and Sale-
between the parties hereto, dated the 21st day of August, 1972, NORTH TRAIL
granted unto TRAFALGAR DEVELOPERS an irrevocable option of two (2) years
from the 20th day of Decer,iber , 1972, to purchase the
premises, a memorandum of which, dated August 21, 1972, was filed, September
14, 1972, in Official Records Book 206 on Page 1056 of the Public Records
of St. Lucie County, Florida, and
WHEREAS, by the terms of the aforesaid Paragraph 7, NORTH TRAIL
agreed to execute this agreement not to encumber at the time of closing
said sale and purchase, and
~ WHEREAS, on even date herewith, said sale and purchase was
; closed,
f
NOW THEREFORE, in consideration of the premises and other good
~
ti and valuable consideration, it is agreed that:
: 1. The premises are presently encumbered by a first mortgage
3
€ from NORTH TRAIL, as Mortgagor, to JOHN L. LESTER and ROBERT R. COX, as
r
; t~ortgagees, dated April lI, I972, filed for record April 12, 1972 in
t
Official Records Book 201 on Page 808 of the Public Records of St. Lucie
= County, Florida said mortgagees' interest having been assigned to Indian
- River Citrus Bank by assignment dated July 12, 1972 filed for record
~ July 26, 1972 in Official Records Book 204 on Page 1747 of the Public
} Records of Dade County, Florida, hereinafter referred to as the "First
;
= Mortgage".
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Gf7EENE AND LAVNE PA.qTTOFNE~S AT ~AW, 320 N E.IB*" STfiEET, MIAMI, iLORIDA 33~32
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