HomeMy WebLinkAbout2385 x~~~ pE~ OtEW'i ~Qf~? E. Wwhcta~ ~N 1w »M N TM N, t w. De~r CMM~f
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E,~~c~e,d th, 2nd day oJ July A. D. 1974 6y
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WIND.IAM'MER, INC., a Florida corporotion ~
a oo.~o.acton •~,et.~ n,~ds. eh.l~w~ o/ Florida . ond having Ib princtpal plac~a o1
6ustn.ss at p, O. Box 678, Jensen Beach, Flo~ida
i~enirw(t.r caUed the ~nort9oAor, to ROBERT G. McINERNEY and the fIRST NATIONAL BANK ~
' and TRUST COMPANY of STUART, Stuort, Florida, as Conservabr of the Estate of JEANNE
~ J. McINER EY, bsentee ~ ~
~ whose posto~toe ~rsss is
ht~+einajter on~ t1~e nwrtgagee:
(W?e+srer med Yereiu tie ur'a ••ee~or•• and ~ocWia•• :edude aq tie Partia to ~?is imaoseac a~d tLe ~ei~+.
{e~al cep~e~cwntiw ud ot udnnduab. ud tlie inocssas aad mis~a d corporariae: aed tse tcre "~oee••
i~eLdn ~11 t?t ~o1es 6crci~~ i( awe t?u o~e.)
~~11~1~~ that /or 9ood a,~d ~,G.nbl~ co~~de.neto~, and also in eonsider+otion oj the aggre-
eate sum named in the promissory note o~ even date herewith. I~ereinnlter described. ll~e mortgngor here-
by g"runts, bnrgnins, sells, alisna, remises. conveya and eon/imss unto the mwtgagee alI the osrtnin land
of u~hich t~e rnortgugo~ is now se~ nnd in possession ~ituate in $t . LUC 1@ County.
Florida. niz:
he South 180 feet of the Nortfi 430 feet (os measured along Stat~e Highway A-1-A) lying Easterly
f said State Highway A-1-A, of Govemment Lot 2, Section 12, Township 3? Soutfi, Range
1 East, TOGETHER with the imp~ovements locaied fhe~+eon j
OGETHER with the State of Flo~ida Beverage License No. 66-19, Se~ies 6-COP. ~
) The Moctgagors may not sell, lease or move the liquor license above described from the
indjammer Package Store and Cockroil ~ounge situate on Hutchinson Island on State Road AIA
~ t. Lucie County, Florida without the express written consent of the Mortgagees .
~ ) Should tF~e liquor license herein described be revoked for any cause whateve~ during the term •
, f ti~e mortgage, and such revocation is not corrected within thirty (30) days, the mortgage may,
t the option of the mortgagees be declared to be in default and acceferated therewith in accord-
nce with the terms of said mortgage . Waiver in one instance shal I not constitute a waiver tfiene
fter.
) In the event of default the immediate appointment of a receiver shall be mode.
Partial Release Clause: The Mortgagees agree that they will release the liquor license herein
I~ escribed from the I ien of the purchase money mortgage upon the payment of the sum of One
~ undred Seventy-Five Thousand (~175,000.00) Dollars. Should a lump sum payment be made,
~ me shall be applied toward reduction of the p~incipal bolance due at that time.
) Mortgagors agree that upon sixty (60) duys written notice to them by Nbrtgagees, that
ortgogees may demand and declare the balance of the mortgoge at the end of five years
yable in full, and Mortgagors will at that time obtain finoncing from other parties and poy the
indebtedness in full .
Soid poymeni(s) refeRed ro in subparagraph (d) above shall be c~xnprisedof the btal paymenh
o principal of both (a) this rnortgage and (b) that certain first mortgage to Jeruen Beach Bank,
corded OR 192/2374 in St . Luc ie County publ ic records . Payment or paymenh to e ither
ortgage rrwy be the total of accrued payments to principal, lump sum or any combination. It is
int~ent of the par}ies that this release shall be made when total mortgage encumkxances on the
roperty shall hove been reduced by 5175,000.00.
A default in the existing ~rst mortgc~ge shall constitute a default on this mortgage.
~
~ h1 PI?YMEIR'RO'~al'1
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a~~ ~"yT~~~~~t~ ~y~~'~f
~ This instrument prepared by:
~ pN (XNSS ~,ER 1
~~j ~ER St ~rt ~p~ F~ Wi l l i a m M. E r w i n, E s quire
~~~R 201 SE 2nd Street
Fort Lauderdale, Florida
600K ~:rG~7 PIICE ~OJ
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