HomeMy WebLinkAbout0041 ~ Y011TGAaE DE[O ` RAMGO FOQ11 RE6
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; 13th ~1uy o( June S~~ A. D. iq?4 by '
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JACK W. NEEDY as Trustee, and THOMAS N. EDWARDS as Trustee,
~i ~iereina(IPr cuUc~cl f{~e mo~f,ryaf~or, fo
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ii INDIAN RIVER GROVES, INf'., a Florida Corporation
~i I~ereina(ler co~~~~ f~ie mortya~i•e:
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1~~'here~er u.ed Aereis ~Le t~rvn "murt~a~rr" ane~ "mor~Ra[K" iurluJe aU t6e Parties to t?i+ im~nwe~t aad t1e bein.
i; teeal ~~y~e+tout:.es and assi~m ot iadividuah. and t6e wrc~a.eKS and ani~m u( cotpotatiw+: aed tlie ters "wte'~
~f inrlude? all tAt w~n. Aerein de+tn6ed it mure tha~ oae.1
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~1~tnessethf ~!I(1~ ~O~ (II1R I~Q~UG6~P I'OI15lQPlQ~l0~13. OIIR n~0 IIl CORSIUPIri~IOR O~ ~~B aggrt'-
gafe sunt name~ in Ihe promissory note oJ e~•Pn c~ale {~ereu~if~~, tiereinajter ~esc?ibrc~, ftie morfgagor ~ere-
hy ~ranfs. ~ryains, sel~s, a~ipns, remises, conneys an~~ con~irms unfo (tie rrtorlgagee a~~ t~e ce?fain ~nnt~
~ oj u~h~ch fhe morfyaf~or is ?iou~ s~ize~ an~ in possessien situate in St. Lucie County.
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See Legal Description, Exhibit "A".
~ The Mortgagor has executed this Mortgage in a fiduciary
capacity and in no other capacity whatever, and the Mortgagee, by
acceptance hereof, agrees that no deficiency judgment shall be sought ~
or obtained by Mortgagee against Mortgagor,
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All regular installment payments and all prepayments to
principal paid on said mortgage shall apply toward releases, pursuant
to the terms as set forth in Exhibit "B".
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The Mortgage shall provide that~at request of Mortgagor, ,
: i- the Holder shall join in the grant and/or dedication of such utility I
J ~ easements, roads, streets, and plats as required by Purchaser for
- the development of the property .
; If default is made in the payment of any installment af
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QrireciQat or interest when due~ t}~en at the option of the Holder, and
: without any other notice, all the remaining instailments sha1l be due
~ and payable at once; and payment of cost of collection, including a
6 : reasonable at~orney's fee in the event of any default hereunder, shall
s be obligation of Mortgagor in default. !
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There is now existing and unpaid a mortgage c:overing the
subject property recorded in~OR Book 63, Page 250, St. Lucie County
Records, which mortgage the Mortgagee herein agrees to continue to pay.
In the event that Mortgagee fails to pay payments when due on said
mortgage, the Mortgagor herein, or any other owner to property may a
~ pay said installments on said mortgage and deduct it from payments due ~
the holder of the within mortgage. '
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Mr. Neil Pouppirt
~ Indian River Groves, Inc. 0 R~~ ~E ~
~ 3101 Broadway g40!(
Kabsas City, Mo. 64ll1 (
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