HomeMy WebLinkAbout1063 ~i MUIITOAO[ Oi~D RAMGO iORM Pt0
, ~oN...o~M 254924 8~
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A. V. GAHCBI~ , Jr .
hereina~ter calle~ tl~e mortgagor, to
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~ SIDNBY BARRER A2ID RUl'H HAEt~R
hereina(ter called 1he morfgagee:
(WAe~e~er used 6ersis t6e tcrms "sort[a~~ and ••dortsasee•• i~clude aq tbe putia to U~ia i~atry~e~t a~d tLe ?ein.
kRa1 rcprexoua.es aod ot iwdiYidwh. aod t6e wcresse~s and a~isp d c«poratiws: aad e6e ter~ ~~aae••
iacluda all the nutes 6ereiaa~.
n~cribed i[ ao~e t6an ooe.)
~l~~e~~ lhat for good and valuable c~onsideratioru, and also in consideration oj the oggre-
gate sum namec~ in ike promissory note oJ even c~ate he~+ewitti, ~ereinalter descri~. I~e mortgngor here-
~ 6y g?c~nts. 6argnins, sells, aliens, remises, conueys nnd conjirms unto the mortgagee all tl~e certain land
~ o~ which t~e morfgagor is now seized nnd in posseasion siluate in $t. Lueie Cou~ty.
' Florida, viz:
As to an 80~ interest in the ~o]1ort~?ing d,escribed p~operty:
~ I~~ of NB4 and S$~ of Ni~T~ of 1~~ of Section 17, ToWaship 36
South, Range 39 East, St. Lucie (~ounty, Floridai
As to an 80~, interest fn the folloxing described p~opertjt: `
~ ST~ of I~~ and the $2 of _ the SW~ of the I~4 of Section 17,
{ Zb~mehip 36 South, RenBe 39 East, 3t. Lucie Oounty, Floridm.
4 As to 100~, interest in the Yollrn+ing described po~aperty: ~
~I 1~4 of~ and the SW~ of the Nf~T~ of the 1~R~ and the T~
i oY the S'~; of tl~e 1~4 of Section 17, Rb~nship 36 South,
Range 39 Bsst, 3t. Lucie Couaty, Florida. ~
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T~IIS IS A P~tCHA3~S MA~Y M~t~A(~
~e Mortgagoac shall have t~e right to release part or all of the property mortgaged
`by ca~pliaace xith the follawing prrnrisions:
The Mortgagor agrees that the release pravision may be e~nercised-only Mhen the lrb
is in good standing and no default egists either in the payment oY interest or prin
f cipal•
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No release shall be fo~ less than 10 acres or nooultiples thereofe The total rele .e
~ rice payable aha]1 be at the rate af $1,000 per acre p~yable to the M~rtgagees h
under as their interest appear. (80~,)
' ~o release sha11 be given xithout a reservation to t.he l+brtgagees of a right oP acc s
_ hrough a strip 10 feet r~ride along the entire (in the case oP P7.ot C 8autherly, in
he case of Plot B Nort2ler~}r) bord~er of the property herein mortgaged running f~om
~ e Westerly boundary Easterly to McCe~rty Road. This right of access sha11 teradna
~ hen the purchase money m4rtgage given in connection ~rith the simultaneous sale by
'the present lrbrtgagees to the lbrtgagor of the (10 acres ia t,he case of Pl.o~t B- 30
res in the case ~f Plo~ C) direct~y to the iiest of the m4rtgaged p~o~erty has
satisfied. The right of rele~se oa the mortgaged property sl~att not be exerci ed
such a fashion as to deprive tbe Mortgagees of a similrar right-of-xay or access
,~o McCarty Road fra~ ar~y released a,creage cwered by this Mortgage.
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