HomeMy WebLinkAbout0994 Fraa a point in the centerline of State Road AlA and
on the North line af the South 815.66 feet of Govern-
ment Lot 5, in Section 11, Township 3? South, Range
41 Fast, run South 69°55'S1" East, 215.05 feet, thence
run North 0°04'09" $ast 60.5 feet to the Point of
Heginninq, thence continue North 0°04'09" East 23.33
feet, thence run South 89°55'S1" Sast 7.0 feet, thence
run North 0°04'09" 8ast 15.5 feet, thence run South
89°55'S1" Sast 162 feet, thence run South 0°04'09" West,
48.25 feet, thence run South 89°55'S1" East 16.25 f~~t,
thence run South 0°04'09" West, 13.75 feet, thence run
North 89°55'S1" West, 24.75 feet, thence run North
0°04'09" Sast, 4.0 feet, thence run North 89°55'51"
West, 162.0 feet, thence run North 0°04'09" East, 27.67
feet, thence run South 89°55'S1" 8ast 8.75 feet to the
Point of Beginning, AND said lands being and including
~ all condaaini~ua parcels and apartments numbered D-1,
D-2, D-3,-D-4, D-5, D-6, D-7, D-8, D-9, D-10, D-11,
D-12, D-13, D-14, D-15, D-16, D-17, D-18, D-19, D-20,
D-21, D-22, D-23, D-24, D-25, D-26, D-27, D-28, D-29
and D-30, together with commnon elements appurtenant
thereto as cont~mplated, described and i.^.dentified in
the Declaration of Condominium of Turtle Reef Condaminium
I, recorded in O. R. Book 250, Page 2852, as amended by
the "Supplement to Declar~tion, recorded in O. R. Book
255, Page 1614, and the "Second Supplement to Declaration",
recorded in O. R. Book 263, Page 1543; all in the Public
Records of St. Lucie County, Florida,
said mortgaqe hereinafter being called the "Construction Loan";
and
WHEREAS, the Association has requested that it receive
' additional collateral to it securing its loan, and is willing to
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~ accept the Construction Loan should additional collateral be forth-
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coming. ~
NOW TAEREFORE, in consideration of the placement of the
~ Construction Loan made by Turtle Reef Associates, Inc., and the
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Association, it is hereby understood and agreed as follows:
l. That the lien of the Construction Mortgage aforesaid is
spread over, extended to, the property encumbered by the lo~n
aforesaid. '
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~ 2. That the default in the payments and the conditions of
~ any of the mortgage loans described hereunder, shall be deemed to =
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~ be a default of all loans thereby entitling the Associatian, at
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~C271994 =
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