HomeMy WebLinkAbout1402 i MJATOAO[ DiEQ ~ RAMCO FVRM PF6
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I Er~~~~M/ rl~p 26th d~y oJ February A. n. to 73 by
DAN BIELE and LAWRENCE D. BIELE, individually and as Trustees,
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hereinaJter call'e~1 the mo~fga or, to BACKUS ENTERPRISES ~ INCORPORATED ~ d
i; Florida corporation, with mailing address of 1203 Florida Avenue,
~i Fort Pierce, Florida 33450 ~
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hereinajter called Ihe niorlgagee: ~
~ (Nbem~ ~utd 6ereia tSe trcan ''~w~S~ta' aad "aortgaSei' iaclude ap ~Ae puties to tLis iuuu~cat awd t4 6ein. ;
~ k~al repraeantivea and a+~utas o[ i~idYah. aod ~?c wcrenawa aed a+~sw d cotp~oratiowsi a~d t6e ara "w1e" i
iwcludes all ~6e wtn Aercia desctibed ii more [6a~ ooe.) -
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. ~ ~t~~e~~ that ~or good and valua6le rnnside?atioru, and also i~ consideration oJ the nggre-.
gale sum namecl in Ihe promissory note of ei~e~ dafe herewitl~, hereinaf ter descrt~. fhe morlgagor /~ete- E
by g~ants, 6argains~ sells, a[iens, remises. rnnveys and conjinns unlo the mortgagee nll the certain Innd ;
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a~ w/~ic~ !he morfgagor is now seizec~ and in possession siluate in St . Lueie County.
: ' ~i Florida. ~~iz: ~
~ The SW 1/4 and the NW 1~4 of the SE 1/4 and the S 1/2 of the SW 1/4
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h e SE 1/4, all in Section 34, iownshi p 34 South, Range 39 !
~ East,~excepting therefrom, Easements for public roads and ~
~ drainage canals and gas easements to Houston Texas Gas & Oil ~
Company. ~
~ THIS IS A PURCHASE MONEY SECOND MORTGAGE, subject and inferior to ~
that cextain mortgage from Backus F~iterprises, INcor~+orate3, a
' Florida corporation, to First National Bank of Fort Pierce, F
dated December 21, 1971, recorded in O. R. Book 198 at page 638
~ securing the origina]~ principal sum of $40,000.00 and having
j a principal balance as of the date hereof of $37,041.13.
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~ PARTIAL RELEASE CLAUSE
~ ( So long as Mortgagor is not in default in payment of any sum due
~ i under this mortgage or the promissory note secured hereby,
I ° mortgagee agrees to make partial releases from the lien and ;
~ I operation hereof on the basis of one acre for each $763.13 '
~ paid by way of principal retirement. Provided, however, the ~
f ~ released area shall begin at the North end of subject property ~
~ and shall be measured along the public right of way (Johnson Road) ~
frontage and shall extend the full depth of mortgaged pr~mises. ;
I I3o release will be granted that has the effect of dividing the ~
e I~ mortgage security. ~
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~ryED pEgSpNAI T40VER~Y•
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1O ~fR 71-134. ~
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fF11S INSTRl1MEN~ PRrPA~~ ~1':
Frank H. Fee, III, Esquire, of
fee, Parlcer ~ fee, P. A.
first F~deral Bui(di~g ~ R
Fort Pieru, ftorida 33450 ~ooK21~ ~C~~4~
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