HomeMy WebLinkAbout1580 . 464539 I'~ J
35'7223
THIS MORTGAGE DEED, made and executed the~day of OGtO~er 19 79
by LAIC PAC MfyPOR PLAZA. INC.. a Florida oorl~o*-ati
on,.
hereinafter called the Mortgagor, which term shall include the heirs, legal representatives, successors and assigns of the said
Mortgagor, wherever the context so requires or admits.
to FIRST NATIONAL BANK AND TRUST COMPANY OF STUART, Stuart, Florida a National Banking Association,
hereinafter called the Mortgagee, which term shall include the heirs, legal representatives, successors and assigns of the said
Mortgagee whttevtr the context so requires or admits,
WITNESSETH: That for divers good and valuable considerations, and also in consideration of the aggregate sum named
in the promissory note hereinafter described, the said Mortgagor does hereby grant, bar};ain, sell, alien, remise, celr:tse, com•ry
and confirm unto the slid 11lortgagee, his heirs, successors and assigns, all the certain piec~S , parcels
or tracts of land, of which said Mortgagor is now seized and possessed and in actual possession, situate in the County ,
of ~ and State of Florida, described as folluw•s:
The North 330 feet of Tracts 146 and 147, the North 330 feet of
Tract 145, lying East of U. S. Highway ~1 (less right-of-way), and
the West 75 feet of the North 330 feet of Tract 148, S>:3~1P?Id,' S POIldP
LA>`ID OQr~ANY SUBDIVISION, as recorded in Plat Book 3, Page-7, Public
Records of Palm Beach (now Martin) Cloimty, Florida;
and the following parcel of land lying in St. Lucie CAUnty, Florida, is also
encumbered by this Nbrtgage
The South 1/2 of Lot 234, in Section 10, Zbwnship 36 South, Range 40
East, according to the Plat of WINE CITY SUBDIVISION, recorded in
Plat Book 1, Page 23, Public Records of St. Lucie County, Florida;
LESS ADID EXC~'TIldG Tf~'RQN! the East 30 feet deeded to the State of
Florida and subject to Right-of-Way of U. S. Highway ~1.
Mortgagor expressly reserves the right to obtain a Partial Release from this
Nbrt~gage instri>oment of the entire St. Lucie County property upon the pre-payment of
principal in the ae<rount of $160,000.00. In the event of this pre-payment, the re-
paymF.nt schedule of the then (at-the time of the $160,000.00 pre-payment) outstanding
principal balance shall be ameax3E'd to provide for monthly installments of principal
and interest at 10-1/2$ per annum so that the then remaining principal balance shall
` be self-amortized over the remaining years of the original term of the loan. It is
the intent of the parties that the release payment shall be a single lump sun payment
~ of principal in the arotut<t of $160,000.00.
- - - RECENEOt Ol~ PAYME1wfTa
STATE F L_O R { CJ A { ouE oR cl,ASS ••c•• ~fu~cle~E PERSOw~~
.,3 OOCUMENTAKY~-~-:~ STAMP TAXI ~OPERr?.t~mSUAwrTOC1u?FrEnt34,I1C'IfCi
o~ - - 1971. LOUISE V. ISMCS. CNAi Ckcdt C.otRt
i~; .r OEPi.O~ REVENUE i' r ~ { AsA~ti~ 11AM,7tNC~N.~~
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too , ~ { DEMY C~c
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To HAVE AND TO HOLD the same, together with all and singular the tenements, hereditaments and appurtenances
thereunto belonging of in anywise appertaining and the reversion and reversions, remainder and remainders, rents, issues
and profits thereof and also all the estate, right, title, interest, property, possession, claim and demand whatsoever as well in
law as in equity of the said Mortgagor in and to the same and every part and parcel thereof unto the said Mortgagee, and
his heirs, successors and assigns, in fee simple.
And said Mortgagor, for himself, and his heirs, legal representatives, successors and assigns, hereby covenants with said
Mortgagee, his heirs, legal representatives, successors and assigns, that said Mortgagor is indefeasibly seized of said land in
fee simple; that the said Mortgagor has full power and lawful right to convey the same in fee simple as aforesaid; that it
shall be lawful for said Mortgagee, his heirs, legal representatives, successors and assigns, at all times peaceably and quietly
to enter upon, hold, occupy and enjoy said land and every part thereof; that said land is free from all incumbrances: that
said Mortgagor, his heirs, legal representatives, successors and assigns, will make such further assurances to perfect the fee
simple title to said land in said Mortgagee, his heirs, legal representatives,successors and assigns, as may reasonably be
required; and that said 1liortgagor does hereby fully warrant the title to said land and every part thereof and will defend
the same against the lawful claims of all persons whomsoever.
PROVIDED ALWAYS, That if said 1lfortgagor shall pay unto the said Mortgagee the certain promissory note, of which
the following in words and figures is a true copy, to-wit:
Mi?dl7~l
e: K 462 Pac;c12?8
~ JOHN FENNIMAN, CFIARTERED - - c - Q t~R C `
E 319
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