HomeMy WebLinkAbout2185 .oar BALANCE DUE UPON MATERITY IS $113, 607.87 T9GETHEI~"WITA
ACCRUED INTEREST, IF ANY, AND ALL ADVANCBMENTS MADE BY
THE MORTG:GEE UNDER THE TERMS OF THI ~
ORTGAGE.
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hxe~-~tt~l rltP 16th day of January, 4~;~~~SA. D. 19 79 6y
LUCIELAND PROPERTIES, a Florida partnership
hereinaf fer called the mortgagor, to
j GEORGE W. SOMMER, as Trustee
hereinafler called the mortgagee:
~ IWhercser used herein the arms '•mortsa~w" and '•asurtRas~re" inrludr all the parties to this isntrtt~est and t?e 6ein,
i legal reprexntati.es and art m of iadividuah, and t?e wrcesvws •nd arum oI c«yoratior; and t4 tero "wte"
i inrlude+ stl the notes bercia gibed it more than one.i
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~~~Q~~ that for good and valuable rnnsiderations, and also in rn?uideration of the aggre-
gate sum named in the promissory note of even date herewith, hereinafter described, the mortgagor Itere-
j 6y grants, bargains, sells. aliens, remises, conveys and confirms unto the mortgagee all the certain land
{I of uthich the mortgagor is now seized and in possession situate in St. L11Cie County.
fif' Florida, riz:
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Start at the East line of and 300 feet South of the Northeast
I' corner of Lot 15, Block 3, ST. LUCIE GARDENS SUBDIVISION, in
Section 1, Township 37 South, Range 40 East, St. Lucie County,
? thence travel Westerly on a line that is parallel to-the North line - .
of said Lot 15, for a distance of 297.47 feet plus or minus, to the
Easterly right of way line of U. S. ~1, thence travel Southerly
I' along said Easterly right of way for a distance of 190 feet to a
j point; thence travel Easterly 207 feet plus or minus to a point lo-
cated on the Easterly line of said Lot 15, and 190 feet South of
the P. 0. B.; thence run in a Northerly direction of said Lot 15,
to the P. 0. B., all being in Lot 15, Block 3, Plat No. 1, ST.
LUCIE GARDENS SUBDIVISION, as recorded in Plat Book 1, Page 35,
St. Lucie county, Florida, Public Records, in Section 1, Township
37 South, Range 40 East. ALSO, Lo.t 9, Block 4, Plat No. 1, ST.
LUCIE GARDENS SUBDIVISION, as recorded in Plat Book 1, Page 35,
St. Lucie County, Florida, Public Records in Section 1, Township 37
South, Range 40 East.
i i~ RELEASES:
~ 1. Tl~e front portion of .the property bordering on U. S . Highway ~J1
shall be the last portion to be released.
2. The rear portion of the property which is described as Lot 9,
Block 4, for the purposes of this release clause shall be divided
into four sections described as the Northwest section; Northeast
section; Southeast section and Southwest section.. Each section
shall be released upon payment of 25% of the outstanding mortgage
` balance. The sequence of release of these sections shall be North-
; west section first; Northeast sec*iora second; Southeast-section
third and Southwest section fourth. Simultaneous with the release
of the Southwest section of Lot 9, Block 4, the adjacent parcel
I with frontage of U.S. Highway ~J1 shall be released.
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TIiIS IS A SECOND MORTGAGE.
A default of the first mortgage with First Federal Savings and Loan
I li Association of Martin County will be considered to be a default of
this second mortgage.
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