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Executed tl~e / dQy oJ ; ~ ~i » ~ e A. D. 197 ~ . 6y
' OCEANRISE OF HUTCHINSON ISLAND, INC.,
u corporotion existing uncler ~he Iaws o/ Florida , arid ha~~~.?g its p~incipal p~ace oj
6usine:s at 10300 South A-1-A, Route 2, Jensen Beach, FL 33457
he~~nnJrer callec~ fl~e ~o.~9a9o~. ~o Gerald S. James and Judy Jame an ~oBei~~ t
Rigel, an w~divided or~-hal.f (1/2) interest,
whose postoJ/ice address is
he?eina~ter ca~~ t~e mortgngee:
(W6tre~v ustd 6ercin tAt utes "mott~a6or" aod mortaa;ee" includc al) tAe parties to this imtrument aed tsc Ae~rs,
lesal reptexapti~n and a+sism oI ~ndi.iduals, and t6e ~ucccsson and a~ur~s o( corpontion~: and t6e term "notc••
iacludes ~U tbe aotes Aereia dncribcd it more than oae.)
~~Ll1~~le~~ that (or good and valun6le consideratioru, nnd also in consideralion oj t{~e aggre-
gale sum named in fhe pror?zissory note o~ euen c~ate F~erewilF?, lierein~~fer clescri~e~, the mortgagor ~ere-
6y grants, bargains, sel~.s, aliens, remises, conveys nncl con(irms unto il~e mortgagee a[I the certain Innd
o~ whicl~ Il~e mortgagor is now seized anc~ in possession situate in $t . Luei e County.
Florida, uiz:
That part of the South One-half -(S-1/2) of the North One-half (N-
1/2) of Government Lots One (1) and Two (2), Section Eleven (11),
Township Thirty-seven (37) South, Range Forty-one (41) East, lying
easterly of State Road A-1-A, as now~constructed, together with all
riparian and littoral rights thereunto appertaining; said parcel _
also described as that part.of Parcels "E" and "F" of Plat recorded
in Plat Book 7., Page 13, Public Records of St. Lucie County,
Florida, lying:E~st of State Road A-1-A.
TOGETHER with all right, title and interest of Grantor, if any, in
and to the bed of said road lying immediately adjacent to the lands
; above described; ~
~
E
~ Units 1 through 68 of OCE'.ANRISE OF HitIC:IINSCN ISIAND, IlaC a oo~~daniniun,
` shall be released on a per unit pric~e of $4,423.53, the total of which ~n-
; stitutes $300,800.00. Aocruecl interest shall be repayable based on 68 units
3 and 1/68th of the total interest shall be repayable similtaneously with the
~ payment ar~d/or prepayment and rele.ase of each unit herein described. In the -
4 ev~t, for any reason, the oo~~daniniun units are not oonstructed and/or ;
~ substantially ooc~Qleted upon the land encunbered by the purchase m~ney irortgage :
~ securing this instrunPnt, then in that event repaycnPnt shall be as follows: `
~ Principal regayable aver five (5) equal annual installments oamrencing twenty-
four (24) months fran the date hereof, the first installment t~o include all
- accxued ar~d a like installment each year thereafter until paid in full. `
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~ RPCF'~vP~ : V v~ In Peyment Of Taxes s
Oup O~ C~ass "C" IntangibfePersonaiP'ropsrty,
~ Pursuam To Chepter 71. 134, ACb Of 1971.
~ ROGER POITRAS ~
~ C~erk Ctrcuit Court, SL LuCN, Co., ~
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'3` THIS IS A SECOND PURCHASE 210NEY MORTGAGE.
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