HomeMy WebLinkAbout0503 rORTOAOt D[t0 / wAMCO IOwM R[•
LON~ IOIIM ~
~3:~~~~
/ ~ • `
.
t
.
~
Ex~ated th~ 3v.t~~ da oj ~L~ ~ ~
y J . A. D. t9 76, 6y
GERALD S. JAMES, Trustee,
l~ereinuJter called tl~e mwlgagor; to J. TURNER COATS aIld ARLEEN E. COATS ~ hf 8 wife,
~
J
{
tiereina~tet calle~ fl~e morlgugee: I
(W~ere~er mrd ?ereiu t?e terf a~d ••rort~a~ec•• i~cinde atl t4 Nr~iu ~s tYir i~a~e~t aad t4~~
lY
kR~ KPK~11ta4VH i~ 0~,~~~ 1`t MCOlf~OfS alld YI(N O~ lOf~~t10Y~ i~ Ik Itf1 AO~t~
IK'~Ildli ~ l~! ~Ol!! ~tft1\~ jj AO(! 00l.~
~`~In~~~~ that Jor good and w.1~61~ ~o?utde~nrto.~, and also [n oonsideration o/ tlu agg~ : ~
gate aum named I~ I~e promisaory note o~ euen date herowifh, heretnu~fer dota~[~, the mortgagor ~wn- ~
by grunb, baryatns, se~~s, aliens. rerniaes, conveys and oon(irnu urtto ttia moMgapea all th. ctirtaln ~and
: of m~icl~ the ewrtgago? is now fn pauessIon aituafe in St ~ yucie Co~h?. ~
Flo.~da. ~t:: l~ omr s l
~3~9~ s~~- D~6~ - Qa~j6
Heqinning at a oonc~et~e ia~t an the Pbrth ].~,ne oY Sect3,o~ 29 r ,
- Zbwns~tiip 35 9art~, Raax3e 39 East, and the i~st righL~of-~y of tt~e ~
Abrth St. I~ucie Riv~er ~rainacle Oistrict Catnal l~b. 53= ther~oe Fast~
erly 54 feet t~u the l~brth oorner of sai~d Section 29 f
~ ~ thence South 0~05'16" West, alc~g the said 1 ine 3412
~ feet, nere or less, to the point of intersecti,on with the oenterline :
of an East~-Wl~st ditch= t2~~oe South 8¢~09'39" f~lest~ 530.76
~ feet, ala~g the ve~ter of sai~d drainage ditch= tha~oe I1o~th 8~°
~ ! 29'42" West, 230.81 fee~t, tio the Foin~ of Beginninq: t~~enve oontirn~e
~ ~ rio~th S~°29' 42" West, 545.32 feet t~o a coc~crete m~nait= theryoe run
~ = i Abrth 0(~°OS' 16" Ea~st, parallel with the afo~resaid No~rth-So~uth .
~ ~ectian line 1000 feet to a~be n~ornme~t f th~enoe rta~ No~th~
~ ~
; _ 57' 35" East, 1249. 30 feet ~ 8 aoc~t~e mos~n~nt, an thejpjest right
~ ~ of-~way~ the afa~esaid t~inal No. 53; the~oe nm South Od"05 ~ 16" W~est,
~ ~M sai.d ~t right-of-~y, 460.91 f~et; t~oe nm South 89~° ~
{ 57 33 Wgst. Parallei with t~te I~brth line 704.00 feet f thence run ;
I South O~POS' 16" West, parallel with the said No~th-tiSouth Quaiteri !
~ectian line 544.28 feet to the Point of Beginning, ~ocYtaining
twenty (20) acres. ~ wlth all righ~ of re~erter in fee, if
` anY. in and to Cana]. I~b. 53 and/br B~oc~csnith A~a~d ric~ht~-of~v~ay
~ upon anY subsequ~t vaaatian th~roof .
~
j I ~
1 il ~ O ~
i ~I ~ IN PA1f1AE1(f OF TAKES ;
i ~ I
ou~ oN cuss ~c ~xuw:~a~.E r~~:a~+•~ rvo~en, ~
p~yR~ANT Tp CIMP~ER 7F-lZl. ACIS ~f 1!/1. `
~6ER POI:RAC
j q~iMT ~OIN(T, ~1. lu:.1E C0, FUl ~
~ li
~ ~
~
~ THIS IS A PURCHASE MONEY SECOND MORTGAGE.
i
~
PARTIAL RELEASE CLAUSE: Mortgagor-Buyer shall be entitled to
~ipartial release after Februaty 15, 1977, based upon Six Thousand Dol-
?~lars ($6,000.00) per acre. Upon request for partial release and pre- :
~payment in accordance with the terms hereof, partial releases of not
less than five acre parcels, reasonably contiguous, shall be granted.
In the alternative, the parties agree that upon any development
~plan encompassing all the land under this mortgage, that partial re- ~
~leases shall be granted to all contiguous lands at the rate herein pr - i
;sctibed at the sole discretion of the mortgagor., provided not mo=e th n
~50$ of roadway frontage sha~ll be partially released by a depth of 600
~~€eet, until the balance of the remaining property under mortgage has
~lbeen paid and released in full. The intent of this alternative relea e
~is to permit random contiguous releases at mortgagor's discretion. ~
~PATO~'8C CLAt~E: ~he lrbrt~gagee a9rees to loak soleyly to the land as secvrity '
' ~ on - the Pranis.~ary Note secured by thi s~brt~gage and th~e Mo~t~gator/Payee shall have ~
rb p~reonal liability n~r be li.able far any deficiency juck~nent in the e~vent of
default iurler this pt~c.'zase note ar~d m~rtqage. . U R '
BooK x31 ~i . ~
~
- _ . _