HomeMy WebLinkAbout0818 LESS AND EXCEPT THEREFROM land previously released being:
Beqinninq at SW corner of above described tract of land,
run North along the East right-of-way of U. S. Highway
No. 1 a distance of 164.9 feet; thence run East parallel
with the South line of said tract, a distance of 400
feet; thence run South~74.9 feet to a point which is
90 feet north of the South line of said tract; thence
run East, parallel with and 90 feet distant from the
South line of said tract, a distance of 964.02 feet; thence
South to South line of said tract, thence West to
Point of Beginning.
and
WHEREAS, Leon D. Miller and First Citrus Bank of Indian
River County, as managing trustee under trust agreement with
M. A. Ramsey dated September 20, 1973, as amended July 1976,
are the present owners of the above described real property and
are desirous of consolidating the mortgage debt and extending
the maturity thereof on terms and conditions hereinafter set
forth, all of which are agreeable to Mortgagee; and
WHEREAS, the parties do agree that as of the date hereof
there is due Mortgagee, interest being included to this date,
the sum of $ lp,~ O 3
~
NOW, THEREFORE, in consideration of the premises and of
the sum of Ten Dollars ($10.00), each to the other in hand paid,
it is mutually understood and agreed as follows: ~
i
F 1. The above recited mortgages are hereby merged into
~ a single encumbrance which secures a remaining indebtedness owed
by Owners to Mortgagee in the amount of $~p T~ 03
~ The Owners do hereby promise to pay to the order of Mortgagee
~ the said sum of $ lp 03 with interest from date
hereof at the rate of 9$ per annum until paid, in monthly
installments of $6,100.00 each, beginning June 15, 1977, and
thereafter continuing until the whole sum named be fully paid.
_ Each installment when paid shall first be applied to interest ~
~ - then accrued and the balance thereof on principal. If any installment ~
~ _
~ continues to be unpaid after fifteen (15) days from the due date
~
~ thereof, the Owners promise to pay to Mortgagee a late payment
~
~
~
~ -2-
~
FEE, PARiCER ~ FEE, P_ A. M~ ~
ATTORNEYS AT lAW
POBT OFFICE BOX f000
FORT PIERCE. FLORIDA a~4d0
~ T[LVMONG 130D1 4d1-d02O
.