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!,Otte IOON RAMGO FORM R[•
435
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~t~i -',3D Executed the 15th ~ day of August A. D. !979 by
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m{~m~ RICHARD L'. SPONG and DORIS L. SPONG, his wife,
hereinaf
ler called the mortgagor, io
r' TOM EDWARD JONES and BETTY E . JONES , his wife ,
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1 0 ~ ~ hereinaf
ler called the mortgagee: _
O -'O~ (Wherever wed hereiO the tertst "sort ak "tOtlr
i O v tpsee" iOChtde dl the pOrtip to thin iOrtrwttat aOd they heinj
~1 hxd repreaenutivea aad uqm d ittdividoab, ud t?e rucceron aed a+t~w of eoroorstiwt: aed t?e lerw 'Ooze'
iechtdes dl the wta hereiO deteribrd iI !sore tlw om.)
~~~~SSebl, that for good and valuable rnruiderations, and also in consideration of the aggre-
gate sum named in the promissory note o/ euen date herewith, hereinafter described, the mortgagor hero-
by grants, bargains, sells, aliens, remises, conveys and confirms unto the mortgagee all the certain land
of which the mortgagor is now seized and in possession aitunte in St . Lucie - County, _
~ Florida, viz:
Parcel 1: Begin at the NE corner of the NE 1/4 of the NW 1/4 of the
a ~(NE 1/4 of Section 7 Township 35 South, Range 40 East; thence run
~ West 300 feet to a point; thence turn and run South 25 feet for the
~ n H (Point of Beginning; from said Point of Beginning continue South 285
a a ~ feet to a point; thence turn and run West 180 feet to a point; thence
~ r ~ ~ turn and rim North 142.5 feet to a point ; thence turn and .run East
N ~
~ ~ 150 feet to a point ; thence turn .and run North 142.5 feet to a point ;
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c ~ ~ ~ thence turn and run East 30 feet to the-Point of Beginning.
O ~ f
~~Parcel 2: The West 67 feet of the East 367 feet of the South 137.5
!feet of the North 447.5 feet of the NE 1/4 of the NW 1/4 of the
° " ~ fNE 1/4 of. Section 7, Township 35 South, Range 40 East.
O N
a a ~ ~ THIS IS A PURCHASE MONEY MORTGAGE.
Mortgagee acknowledges that there exists a mortgage to First Federal
Savings and Loan Association of Fort Pierce in the original principal
amount of $43,000.00, as recorded in 0. R. Book 234, page 1498, of th
'public records of St. Lucie County, Florida, wherein said mortgage
encumbers the subject property as well as additional lands (herein-
i - after'referred to as First-Federal mortgage). Mortgagee warrants
that the First Federal mortgage is in good standing and has a current
outstanding principal balance of $39,088.50. Mortgagee agrees that
~ ~ iit shall-continue to be the responsibility of Mortgagee to promptly
s - pay and discharge all obligations under the First Federal mortgage
~ i~as they become due. Mortgagee further agrees to indemnify and hold
E + ;Mortgagor harmless of and from any claim, loss or demand on account ;
~ Iof the existence of the First Federal mortgage, and further agrees f
that if the Mortgagee fails to promptly pay any sum due under the
First Federal mortgage, then Mortgagor, at its option, may pay the
~jsame and deduct the amount of such payment, together with interest
jthereon, from the next payment coming due under the promissory note
(secured by the purchase money mortgage herein. Upon request by the
Mortgagor, Mortgagee shall from time. to time furnish Mortgagor with
copies of cancelled checks or other satisfactory evidence reflecting
that the First Federal mortgage is current and in good standing.
{Mortgagee further warrants that the First Federal mortgage shall be E
(paid in full and an appropriate satisfaction thereof recorded in the
s (public records of St. Lucie County, Florida., simultaneously with or
P 'prior to payment in full. of the promissory note secured by the pur-
' ~~chase money mortgage described herein. {
Mortgagee warrants to the Mortgagor that there exist two mortgages
!of record that appear to be unsatisfied, but which the Mo~gagee
'warrants and assures to the Mortgagor that they have been paid in
full and are in truth satisfied debts. They are as follows:
;~(1) Mortgage in the amount of $500.00 given by James Blanton and
;!Mavis A. Blanton, his wife, to W. H. Crusius, Jr. and Adonza F.
`ICrusius, his wife, dated May 7, 1959, filed May 7,.1979, in Mortgage
~iBook 155, page 625, encumbering Parcel 2, in the public records of St
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(continued on attached page) rig
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