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MORTOAO< O<<O ~ RAMCO F011M R[• ~
LOM~ /OIIM ~~C~~~~
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Exeru~E?d the 12th day o/ July A. D. 1¢jg 6y ~
BEN L. BRYAN, JR., RUHL W. KOBLEGARD, JR., and RUPERT N. KOBLEGARD, ~
III,
hereinaJter called fhe morfgapo~, fo M'~MMaT~11M ~
~w O~ CIMS~'~C" Nitan~bl~ ~M~o~1'~~ ~
RICHARD K. DAVIS ~T~ a ~ ~
CIM1t Cl~~wit Ow~~ !t I~MR 0~ l11? ~ ~
Rerelnajter called the mortgagee:
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(W6ere.~n wed 4reia t6e tera~ "oor~t~sa~a~~~ ~•'aa~e~see" iaclYdr dl ~ie partia to t?i~ intrwoe~t ud the~~inj '
IeRd repraenuavea aud ~si~m o( i~dirid~+b. ud t?e wcre~ora and wis~+ ot taryor~tior: a~d 1Ye oen~ '~o~e' ~
„ inchdes dl tAe ~otes 6ere'w de+c~ibed iI mots tL~ we.) ~
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v~, ~t~~~~ that ~or good and valuable rnnsiderations, and also in conaidemtion o~ tke aggre- ~
II gate sum ~amec~ in t~e promissory notr oj even clate herewiil~. ~ereina(ter ~escri~, f~e mo?tgagor I~ere- _
I by grants, bargains, se~~s, a~tens, remises, conveys oncj confirms unlo the mortgagee a~~ t~e certuin ~antt
~ o~ w~ic~ fhe morfgagor is now seizec~ ancr in possessiori siluale in St. Lueie Counly. ~
F[ortda. viz:
An undivided 1/3 interest in and to the following described land: ;
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The point of beginning being an iron rod at the Southeast corner f
of the lands conveyed by FORT PIERCE PORT AND TERMINAL COMPANY to ~
FORT PIERCE DRYDOCK AND TERMINAL COMPANY, as per deed recorded in k
O.R. Book 35, page 33, of the public records of St. Lucie County, ~
~ Florida, said lands lying South of Canal C-25 and East of the . ~
, FLORIDA EAST COAST RAILWAY COMPANY main lines, and being a part ;
~I of Section 3, Townsnip 35 South, Range 40 East, in the City of ;
~4 Ft. Pierce, Florida; thence run South 78°21'S0"•West along the x
j{ South line of FORT PIERCE DRYDOCK AND TERMINAL COMPANY lands,
~ 200.38 feet to a concrete monument; thence run North 15°09'33" ~
~ West along a line parallel to and 200 feet West of and, measured
~ perpendicular from the East line of aforesaid FORT PIERCE DRYDOCK ;
; AND TERI?iINAL COMPANY land, 626.52 feet to a concrete monument on ~
the South right-of-way of Canal-C-25; thence run North 85°48'41" ~
; East along the said So~th right-of-way of Canal C-25 203.'72 feet ~
~ to an iron rod on the East line of aforesaid FORT PIERCE DRYDOCK k
AND TERMINAL COMPANY lands; thence South 15°09'33" East along ;
~ said East line, 600.07 feet to the point of beginning.
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It is the intention of mortgagors to hereby convey to mortgagee ~
all of their right, title and interest in and to the above des- <
' cribed land .
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~ THIS IS A PURCHASE MONEY SECOND MORTGAGE. ~ `
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~ Release Provision: Provided this mortgage is not in default, upon ~
--.;t~ payment in full of any promissory note hereinafter identified,
~ mf' mortgagee shall release from the lien and operation of this mort- ~
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gage unto the maker of such note an undivided 1/9 interest in and
to the above described land. The instrument of release shall be
"'~0 I in recordable form and the expense of recording the same shall be ~
paid by the mortgagor to whom the release is given. It is speci- :
.__~-"i f ically understood that any such release shall not in any way '
release such mortgagor from his obligation under ar~y guaranty of ,
performance of the obligations of the remaining mortgagors under
~his mortgage or the hereinafter identified promissory notes.
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Subordination Provision: Provided this mortgage is not in default,
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~ j'~ mortgagee ereby agrees to subordinate the lien
of this mortgage to a subsequent mortgage given to a bank, federal ?
savings and loan association, licensed mortgage company, real #
3~ estate investment trust, or an insurance company (which institution ~
' must be licensed to do business in the state of Florida), for the -
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