HomeMy WebLinkAbout1356 MpqTQAOR ~t~0 . RAMCO ~O#M R<•
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~ Executed 11~e ~ g~~~ day o/ June A. D. ~9 73 6y
DAVID SERNS, Truatee and individuslly TAis lnstrument Rep~rcd 8y:
~ R08ERT F. McR08ERTS, 1R.
~ ~ ~ ~ NcR09ERTS i FENNIMAN, ~
~ heretna~ter caUerl flee martgagor, !o
~ ~ CAarte~ed
~ RICHARD VERBIC and EUGENE L. LeMAIRE , Co-Trustees Attareys uw '
101 E. Ocesn [31vA. • P. 0. Draw~t 6 '
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a ~ ~ Stwri, florida 33494 . ?
~ ~ Z~~~~ hereinajter called the morlgagee: ;
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~ (VYhcrcver u+ed ber~u ti~e teriu • aad ••mar~s+tK" iaclude a9 ~6e p~rtia a t?ir irtn~s~t aed ~le~Aa~ ~
o~r kRd repreaewqtires aad ot~~~ , ud tAe woce~os aad ~u d c~orporatioM; aad t~e ttrf wte'
7d' w~ iaclude~ ap tAt ootw ?etria~aiDed i! more t~a~ o~t.)
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~ f~ Q~ that jor good and valua6le c~onsideretions, and nlso in conaideratton ~e aggre-
~ 5~ gnte su?n namec~ in !he promtssory note o` even dnte kerewitti, hereinajter de~crtbed.~the moMgagor ~ere-
° by grants, 6argains, sells, aliens, remisea, conveys and oon(irnw unto the neoMgngee aII the certdn Iand
oj ~ht~h ehe mo~tgngo~ is now aeized nnd in po:session ailuate in St. Lueie County,
~ . Flortda, viz:
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' . That part of the North 856 feet of Government Lot 1, Section 2, Township
37 South, Range 41 East, St. Lucie County, Florida, lying East of the
Q ~ Easterly right of way line of State Road AIA; and~
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That part of the North 856 feeYof Government Lots 1 and 2, Section 2, Town-
~ r~ o o ship 37 South, Range 41 East, which liea West of and contiguous with the
Westerly right of way of State R.oad AlA, said parcel bounded on the East by
the Westerly right of way of State ftoad AlA, bounded on the West by a line which
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~ bounded on the North by the North line of said Government Lots 1 and 2,
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~ and bounded on the South by a line which is 806 feet South of and parallel to
the North line of said Government Lots 1 and 2, St . Lucie County , Florida .
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TOGETAEft with all littoral rights thereunto appertaining .
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LESS and excepting the right of way of State Road AlA ~
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~ RELEASES: The lands lying Easterly af State R.oad A1A may be released in
~ ~ minimum parcels having a width of 100 feet ae measured along the said State
~ Road A lA and running from South to North upon payment of the sum of ~ 1, 605 . 00
per front foot for each foot so released . Said parcels shall run from State Road
v~ AlA on the West to the waters of the Atlantic Ocean on the East and shall be
; j~ contiguous . The Northerly 400 feet of the lands lying East of State Road AlA
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;~,~1 M,. may not be released prior to the final payment of the mortgage ,
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~ I•'~+.~;f.; The lands lying West of State R.oad AlA and East of the lands released, at closing
~ may be released upon the payment of ~ 830. 00 per front foot, as meaeured
} along said State R.oad AlA, in minimum east-west strips measuring 100 feet in
f o width. Releases must commence at the Southerly boundary of this parcel and
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'r o must proceed northerly in a contiguous manner .
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' ~ All payments made on the principal of this mortgage shall apply toward partial
~ releases whether requested at the time of said payment or not.
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; i, All payments for partial releases shall apply toward the next principal payments
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- r,~ becoming due under the mortgage .
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~ L-•~ *+oPa .,f r,rPnaration and filin all artial releases.
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~ ~ 1~'' ~ Mortgagor-maker is not personally liable on the promissory note secured by this
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1 mortgage and Mortgagee-payee is to look to the land as the sole source of payment.
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€ The holder of the purchase money mortgage agrees to join in the execution of a plat
~ j~ or plats of subdivision or declarations of condominium , provided that there shall
s t iuc?E always be accesa to property remaining unreleased from the lien and encumbrance
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' of the purchase money mort age .
; , jq~ ~~Ct~ THIS IS A PURCAASE MONEY SECOND MORTG GE
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