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JOINDER OF MORTGAGEE ~
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FIRST NATIONAL~CITY BANK, a national banking association, i
New~York, New York, hereinafter called "Mortgagee", the owner and
holder of a mortgage made by HUTCHINSON ISLAND LIMITED PARTNERSHIP, ~
a Florida limited partnership, hereinafter called "Mortgagor", upon
those lands located in St. Lucie County, Florida, described on
Exhibit "A" attached hereto and hereby made a part hereof, which ~
Mortgage is dated February 19, 1974, and recorded February 22, 1974, '
in Deed Book 224, page 539, et seq., of the Public Records of St. ~
Lucie County, Florida, joins in the making of the Declaration of
Condominium of CAPSTAN I, a condominium, filed by HUTCHINSON ISLAND
LIMITED PARTNERSHIP, a Florida limited partnership, and Mortgagee
agrees that the lien of its Mortgage, insofar as said Mortqage
encumbers the real property which has been submitted to condominium
ownership according to the said Declaration of Condominium of
CAPSTA~~ I,• a condominium, shall be upon the following described
property located in St. Lucie County, Florida:
AlT of the Condominium Units of CAPSTAN I, a-7-~'S-`~l
condominium, according to the Declaration of ~
Condominium thereof, together with all appur- ~
i - tenances to the condominium units, including ~
~ but not limited to all of the undivided shares ~
E of the common elements. ~
d a reed that this Joinder of Mortgagee shall ~
It being understood an g
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not affect any other real property or any other terms of that Mort-
gage referred to above except as herein stated.
Mortgagee agrees that the Mortgagor in said Mortgage re-
ferred to above has complied with the requirements set forth
in Article VIII,paragraph 10 of the Building Loan Agreemerit between
the aforesaid Mortqagor and Mortgagee, except the requirement set ~
;
forth in subdivision (c) of such paragraph 10 that "units constitu- '
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~ ting 50$ of the value of all the units as set forth in the schedule
~ of sales prices (Exhxbit "F") which have been sold pnrsuant to binding
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; and valid contracts satisfactory in form and substance to Lender;"
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which requirement has been and is hereby specifically waived by the
Mortgagee.
~ TH1S It~cT
tu~aEN1 PREvaP.ED BY:
10HN F. F1ANI,r,~~~. ES~.
' d00K F~AGE ~4 70~ rroRrH ~ ~ a rR~vE .
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