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MpRT~AOt Ot[p • ~ / AAMCO ?ORY RN
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F_xecuted t1~a ~t /~f++~+ da o • A. D. t9 b
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JAI~ES L. STRAWN and ARLENE 6. STRANN, his wife, ~
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tie?einajte~ cnlled the mwtgagor, !o R
N. H. REESE and IRENE H. REESE, his wife,
P.O. Boz 3718, Ft. Pierce, Florida 33450
~e?eina(ter cal~ the mortgagee:
lWSeeeree wed 4e~ti~ de ler~ '•~or a~d ~•~W~•• i~clyde aY tM p~rtla w Ili irtra~est ud tie.?e~sj
4 e
kp~ eeYns~wnti~'ea and a~ n ~o~l ~L~.Yd t?e frccea~rs Yd MrsM d ewponoor~: a~d tb ItA '~o1e~
i~clydes ~p t?e ~ous ?ercu deuri6ed it sae we.)
~1~Int~~~ tkut jor good nnd valuable rnnstdernt~ons. and aLo in eonttda+at~on oj 11~t apen-
gafe aum named in t~e promtssory note o~ even dqte herowifh, heneiha~ter clescri~. t~is n?ortgagor here-
6y granta, bargains, se~js, a~tens, remises, c~onveps anc~ oon~trn~s unfo f~e re~oMgog~e aU tke certai~ ~and
o~ whtch tl~e narlgagw is nom seized and 1n posaession siluate in $T. Luci e Co~4•
Flortda ~~r::
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Mest 290 feet of Lot 62, MHITE CITY SI~DIVISYON, according
to Sheen's Plat of Whit~ City, Florida, and per Plat Book 2,
Page 23, public records of St. Lucie County, Florida.
RESERYING to the mortgagors, wights as follows:
~ WHEREAS, the mortgagors purchasing the above described property =~Oan
the aartgagees, have agrEed with the mortgagees and the mortgagees
hav~e consented thereto, to-wit: That in the event the mortgagors shall
desire or have need and make the rEquest to the aartg,agees to subordinate
~ their rights in the herein granted, s~ordinating the same to the M~ts
~ of a lending institution wherein the mortgagors seek a building or
oonstruction loan and in tfie inter~st of the mortgagors, the mortgagees ,
hereby consent, covenant and agree that ~on such.~pplication by tbe
mortrgagors, ~onsent wiil be_ giMen and in the absenoe of the same being
given upon the said request through incapacity, infirmity or otherwise, ~
that upon the filing of a aotice of oomnenoement of construction upon
, the said property, that the filing of same shall act as a s~ordination
' of the mortgagees' rights herein perfected and the subsequent mortgage
to a lender shall have superior rights against all and every ifiem of
, rECOrd in the title to the premises piortgaged including the rights of
~ the martgagees.
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I ~ That nothing herein shatl relieve the mortgagors fran giving such notioe
~ as is to them posstbie and practical, giving the said notice to the
€ i mortgagees at the saa~e mailing address as is used in all other items to
~ effect the cov~enant~ of this mortgage with the abovesaid right of subor-
~ dination of the mortgagees' rights, being hereby reserved to the mortgago
for construction monies and costs thereto pertaining.
~ s TNIS IS A FURCHASE MONEY MORTGAGE. ~
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UOCUMENfARY S1AMP ~.AX ~
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