HomeMy WebLinkAbout1507 LONO fORM 30 ~ ~
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EY~ru~~ rh~ 3 ~ ~?-r ~Iay oJ MaY. A. D. t973 6y ~
WILLIAM C. REEVES and BETTY ANN REEVES, his wife,
hereina fer called the morlgapor, to ~
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CHALMERS C. CRUMP and VERNA W. CRUMP, his wife,
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tiereina(ter ca~~e~ the mortgagee:
(WAere•er uYd 6erein t6e terms "mortsa~or~ aad "mareRage•• iaclude all tbe partia to tAit i~aw~ewt asd t?e ~ein
ktal repreaenativn aad a~u~m o( iadividuab and the wcceaors aad a+aiRas of corporatiod; ud t~e teta ~•~we•i
includes all t6e wWes 6ercia dex~ibed i( aore t6aa oae.)
~l~~e~~ thaf (or good and valuable rnnsidemtions, and also in corutde~tion o/ tke a99re-
~ gafe sum namec~ in lhe promissory nole oj euen c~nte herewifh, ~ereina/ter descrtbed, the mortgagor here-
6y grants, 6argains, sells, oliens, remises, conueys and con~irn~s unto Il~e mortgagee alt ~he certain land
f o~ whic~ ftie rreorlgagor is nou~ seizec~ and in possession situate in St . Lueie ~.'ounty,
, Florida. niz:
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~ ~ Lot 16, RIVER OAK ESTATES, according
f to the Plat thereof as recorded in
Plat Book 16, Page 5, of the Public
~ Records of St. Lucie County, Florida.
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~ THIS IS A PURCHASE-MONEY FIRST MORTGAGE.
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~ STAT ,FF flF FLORIQA ~ ?
~ " ~ DOCUMEN ARY StAMP TAX~
c~ DEPT.OF REYENUE~'~ ` '
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i . . ~ 1lC~N~6181.f ~ 1971•
~ ~(~1?~~ ~ R 11-13~. '
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~ Mortgagees agree that while this mortgage is in good standing
~ they will subordinate its lien to that of a construction loan
~ from an institutional lender for the purpose of constructing
a home. Provided, however, that proceeds therefrom shall be
used only for direct costs of improvements plus reasonable loan
~ costs; and provided, further, that a portion of said funds
shall be allocated to retire this loan~on or before the final i
draw.
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