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f:a~~,r~ ?1~~ 5th day oJ January A. p. ~9 76 6y ~
DALS COLEAN, Individually and as Trustee
RP?RI/Ip~IP~ ~'AII~ (hP Ri0?IAq~/O~, lo .
~ LARRY L . McIVER ° - ' "
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i~ hereinuJler ca~:ec~ the mortgagee:
(MLlRfYf uxd bereie the terms "mort
sa,sor" and "mon~aSee" ;oclude all ibe partia to thw iaurYesr~l and the ?~in,
ItRal represrnuti~e~ and assi na o1 individwh. asd tbe mnea~ and a~iRas o( corpor~ood: aad t6e urv~ •~sw~•,
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I includn all ~be autn berein ribed i( more tAaa ooe.)
~ ~jtn~e~~ that f
o~ good nnd valua6le considerations, and also in con:ideralion o/ the aggre-
t gate sum ~ame~/ i~ Ihe promissory nofe o~ even date hereu~ilh, /~ereinajter deacri6ed, ttie mortgagor ~ere- •
~ dy granfs, ~arf~ains, se~~s, a~iens, remises, conveys and con~irnu unfo Ihe mortgaflee d~~ the certain (anc~
oJ u~hich Ihe mortgagor is now JPIZ~ and in possession siiuate in St. LLICl.e County,
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1=~orida. aiz:
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~The NE 1/4 of the SE 1/4 of the NE 2/4 of Section 19, Township
~ 35 South, Range 40 East, and that part of the followinq described
4' tract of land l~~ing Northerly and Easterly of Five-Mile Creek, to
wit: The W 1/2 of the SE 1/4 of the SE 1/4 of the NE 1/4 and
the E 1/2 of the SW 1/4 of the SE 1/4 of the NE 1/4; all being in
~ Section 19, Township 35 South, Range 40 East, less canal and road -
~rights of way; said parcel containing 13.535 acres, more or less.
` ~SUBJECT TO -that certain easement from Larry L. McIver and Vange S.
' ~McIver, his wife to Edward Scharfschwerdt, Sr. and Lavinia
iScharfschwerdt, his wife, dated March 17, 1967, recorded in O.R.
~Book 165, page 1083, public records of St. Lucie County; and
subject to a service easement to Florida Power « Light Company
~dated April 29, 1974, recorded in O.R. Book 227, page 807, public
~records of St. Lucie County.
~ITHIS IS A PURCHASE MONEY FIRST MORTGAGE.
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~ PARTIAL REI,EASE CLAUSE
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`So long as mortgagor is not in default in payment of any sums
~~due under this mortgage or the promissory note secured hereby,
;~the mQrtgagee covenants and agrees with mortgagor that he will
!{grant partial ~releases from the lien and operation of this mort-
+!gage on the basis of one acre, or fraction thereof, for each
~;$6,233.84, or fraction of said sum, paid or prepaid_by way of
~~principal retirement; provided, however, that no release will be
{}requested by mortgagor or qranted by mortgagee prior to the
~tmortgagor's construction of the East-West leg of the road planned
,by mortgagor to provide access to proposed residential lots, nor
;will such releases be requested or granted that have the effect
~of dividing the mortgage security or of preventing the mort-
,igagee's having a legal means of ingress and ~gress to that por-
~~tion of the mortgage security remaining from time to ti.me under
~~the lien of this mortgage; and provided further that property
;;fronting on Hartman Road shall be the last to be released~
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TNIS INSTRUr~IENT PR~ ~ ~
PARED BY: 4~ ~ rn~
Frznk N. Fee, ili, Es~iire, ~f ~
F:.~n. ~'2-4~r ti F~e, P. A.
~N Fir~t ~~~~-~1 Building ~ ' ~p
} Fort Pi~rce, Florida 33450 BL~~(~~7 ~Ai,z $~J
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