HomeMy WebLinkAbout1499 . rORTGAQ[ DEEO l~ ~~M~ ~ y
~ • ~oNO Ioww 2~59'71 ~ ~ AAMCO rORM RE6
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~ f.~u~~i ~hP 22nd ~Ipy oJ February A. D. i9 74 6y
PATRICK~J. NEE, individually and as Trustee, joined by his wife,
MILDRED M. NEE,
F?ereinajler ca[led Il~e mort~a~or, ~o CENTRAL BANK AND TRUST COMPANY OF MIAMI ~
~ as Trustee under Land Trust M57-170
{~erei»aJipl fqI~PA IRP A'lOl1(JA(jPP:
(WAerc~:r used Aercin t6e tcrnm •.uwrtss,sor•• aac~ "mor~sa~' include alI ~be putiea to t6is iasuumc~t aed t4e Reirs, •
I~al represrnt~ti.ea and usixw uf iodi~iduals. and tAe wccew~rs aed as~iRas ot corporatiws; aad t6e term "note"
includes all tAe ootn herein drxribed it mo~e ehan oae.y
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~~~~~e~~ Il~at ~or gooc{ and valuo6le c~onsiderations, anc~ also in co~siderafiore o~ t/~e aggre-
flate sum name~ in IE~e promissory note o~ enen ctnle herewith. ~erpina~ter aescribed, 1/~e mortgagor {~ere-
~ by ~rants, barr~ains, s~1ls, ajiens, rer?tises, conueys ancl con/irms tinto fhe mortgagee a~l Ihe certain lancr
!i o~ u~hic~e fhe mortgago~ is nou~ seizP~ anc~ in possession siluate in St. LUCl@ Counly.
t'~ori~a. viz:
~
~ See Exhibit "A" attached hereto and made a part hereof.
~THIS IS A PURCHASE MONEY FIRST MORTGAGE.
PROVIDING biortgagor is not in default under this Mortgage,
~ Mortgagee hereby agrees to release certain parcels from the
lien of this mortgage upon the £ollowing terms and conditions:
f~ 1. Upon the payment of ~3,125.00 per acre in regular or
prepaid principal~payments One (1) acre parcels shall
be released. Such releases shall commence at the inter-
section of the North line of the West 1,000 feet of
Section 19, Township 34 South, Range 40 East and the
Westerly boundary of the property excepted from this
mortgage and located in said West 1,000 feet. Each
release shall run from the North boundary of Section
19 to the South boundary of Section 19 and be cont'iguous
i' to parcels previously excepted or released from this "
mortgage. When all property has been released in Section
~i 19, subsequent releases shall commence at the North
boundary of Block S, INDRIO UNIT ~2 and shall run I
, southerly ta the southern boundary of Section 18 and ~
sha11 be contiguous to the premises previously excepted
or released from this mortgage.
:'Mortgagee hereby waives its right to obtain a deficiency judgment
;'against Mortgagor under the terms of this Mortgage or the Note
; '~secured hereby and Mortgagor shall have no personal liability
' ;!of any kind. Mortgagee's remedies shall be limited solely to
;'the security referred to hereunder and Mortgagee agrees to
~ ; waive any and all claims ta a deficiency judgment in the event
~ ti of foreclosure. `
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N.B. This document being re-recorded to show Exhibit ~
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