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MORTGAGE
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THIS MORTGAGE, executed this 1 Q day of ~.~Uly ,
1978, by RADNOR/OCEANA PARTNERSAIP, a partnership created and
existing under the laws of the State of Florida pursuant to
t~e Uniform partnPr~hin Act of the State, having ar
office address at 9900 Ocean Boulevard. Hutchinson Island,
Jensen Beach, Florida 33457, hereinafter called "Mortgagor",
to CONTiivEt.~~ BANK, *!~?n and Swede Streets, Norristown,
Pennsylvania, hereinafter called "Mortgagee".
W I T N E S S E T H
WHEREAS, Mortgagor is justly indebted to Mortgagee,
having executed and delivered to Mortgaqee its Promissory
Note ("Note") bearing even date herewith, in the principal
sum of Seven Million Dollars ($7,000,000) or so much thereof
as shall have been advanced (the "Loan"), lawful money of
the United States of America, and according to the terms and
conditions specif ied in the Note, a true and correct copy of
which is attached as Exhibit "A" hereto; and
NOW.THIS INDENTURE WITNESSETH, that Mortgagor in con-
sideration of the indebtedness and to secure the payment to
Mortgagee of the principal with interest, and all other sums .
provided for in the Note and in this Mortgage, includinq,
but not limited to, any future advances that may be made by
Mortgagee to Mortgagor, whether such advances are obligatory
or are to be made at the option of Mortgagee, up to a maximum
princi~a~ amount of Seven Million Dollars ($7,000,000) plus
interest thereon, plus any amounts advanced by Mortgagee for
the payment of taxes, liens or insurance on the property
subject to the lien of this Mortgage, plus interest on such
amounts, according to their respective terms and conditions,
and for perfoz-utance of the agreements, conditions, covenants,
provisioris and stipulations contained herein and therein,
and in certain other agreements and instruments made and
given by Mortgagor to Mortqagee in connection therewith,
including a certain Building and Construction Loan Agreement
of even date herewith between Mortgagor and Mortgaaee (the
"Loan Agreement"), and a certain Assignment of Lea~,~s, Rents
and Profits of even date herewith given by Mortgag~r to
i~Sortgagee, has granted, bargained, sold and conveyed and by
these presents does grant, bargain, sell and convey unto
~!ortgagee that certain tract or parcel of land lying and
~eing in the County of St. Lucie and State of FZorida, more
oarticularly described and set forth in Exhibit "B" attached
hereto and made part hereof (hereinafter the "Land"?.
TOGETHER with all and singular the tenements, heredita-
:,ients, easements, appurtenances, passages, waters, water
courses, riparian rights, other rights, liberties and pri~tileges
- thereof or in any way now or hereafter appertaining, including
any other claim at law or in equity as well as any after-
acquired title, franchise or license and the reversion and
reversions and remainder and remainders thereof; and
This instrument prepared by:
.
BZank, Rome, R2aus & Comisky
Suite 1260, First Federal Building 0~ ~
One Southeast Third Avenue y~~
Hiami, Florida 33132 ~~~a~~
Dut On L'fiar "~C" Mw~bl~ IynonNPr~a~qr.
'unuarn ta Chapbr 71.1~1. A~1s 0~ .
t; R AOOEp ip11{II~ ,
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