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F:xecu~ed the 26th day oj August A. D. 19 746r
QUSFN'S G7V8 PROPERTI$S, INC., a Florida corporation,
; herei?~a(ler culled ff~e ma?tgayor, fo
I LUCI$ PRUPSRTIES. INC., a Florida corporation havinq mailinq
~ address of 1845 Walnut St., Philadelphia, PA 19103
hereina(!er calle~l the morlgagr~:
lN'hemcr used Aerei~ tLe te~s '•~ort~a~ai • a~+ ••~4PS~ ' iaclude all tie p~rua a Ji~ iwat~~~t a~d tre fein.
IlR7I Rptts~Ptati~t! sad m ol iad~vidwb, aad tAe wccesson awd asi~as d corOoratio~s: aad t4 tera ••wu••
f, iK~Ydts iU t~! OotlS btft~,~bld t~ tMff tbl\ O~t-) .
' ~ ~~~~e~~ thal' Jor good and valua6le c~onsidemtions, and also in constderotion o( the a99?e•,
~ gnfe s~em namet~ in i1~e prorrtissory note of even c~ute herewilh. tiereinajter described, t~e mo?lgngor here-
I by gmnts, bargains. se~~s. a~iens, ?emises, conveys anc~ cunjirms unto ftie mortgagee a~~ t~e certntn janc~
S Count
o( which ftie mwfgagor is now seized unc~ in possession silunte in St. Lueie Y•
i Floriaa. viz: ,
~ All of Government Lots 1 and 2 in Section 22, Tawnshi~ 34
( South, Range 40 East.
. ~
All of Government Lot 2 in Section 23, Township 34 South,
~ Range 40 East.
LESS AND EXCEPTING from each of the above described parcels,
~ lands as were conveyed in that certain Warranty Deed from
' I Lucie Properties, Inc., to Queen's Cove Properties, Inc.,
f recorded in Official Records Book 225, page 1511 of the
~ public r~cords of St. Lucie County, Florida.
SUBJECT TO all reservations, restrictions, easements, zoning
~ ordinances and rights of way appearing of public record.
~ .
I THIS IS A BALI~OON MORTGAGE AND THE F~NAL PAYMENT OR THS BALANCE
~ DpE UPON MATURIT~ IS $277.750.00, TOGETHER WITH ACCRUED INTSREST,
i IF ANY, AND ALL ADVANGF.I~NTS MADE BY THE MORTGAGEE UNDER TSE
TERMS OF THIS MORTGAGE.
pARTIAi. RELEASE PROVISION
Q So long as this mortgage and the Fr~missory note secured hereby
~ ! is not in default by Mortgagor, Mo~tgagor shall ne entitled to
partial releases in contiguous and adjacent parcels, comanencing
'1 and beginninq at the Northeast compass point of mortgaged premises,
; upon payment of an amount per acre detprmined by dividing
~$662,500.00 by the total acres sub?~ect to the within mortgage;
provided, howeve~c, that no less than - 1Q--~-acres be released
~ on any single occasion, and all r?r*_ial
rTeases shall be at the
` expense of the ~iortgaqor. T'he rel.ease credit shall be cumulative,
j that is, the partial release need not be requested at the time
~i of payment or payments.
~i PURCIiASE MONEY MORTGAGE
i'
THIS IS A PURCBASE MONEY MORTGAGE executed for the purpose
of securing the indebtedness evidenced by the within descri.bed
~ promissory note which was made to secure the balance of the
~E urchase price of the within dAscribed real property.
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