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BUILDIIIG IRAN MORTGAGE
s,~
~'ylll~r made zhe ~ dar of ?7ovember
oae thousand nine hundred and seventy-nine bctwcan OCEAN DUNES
DEVELOPMENT COftPORA^tIr13, a a
Iori::a ocrporation, having an off;ae
at 10044 South State Road A-1-A, Jensen Beach, Florida
11.o.Mw • ~ ~w~ o1~lw •
Ow Ow Cltw'~C" IM~e~ /+wtt~11~~~ the '2iorc 1
hrsnrMt Ti Cht~r 71.1~f?AA011A1. ~ 8ab'~") and
IIOBEII ~Ofl>>II~ ~
V
- _ ` - CNr! C~orit Ce~rR ft 0~, !!t
- ~'~#ia~~i ~a~k of ~ artf~ r~ntcrirtt
a mtioml braking associu;oo, organized atd ezisting undo aad by virtue of the taa-s of the United Braces
of America, hamming an office u 44 V~7all Street. City, Cottnrp aad Snre of New York (the "Mortgagee"),
Tf~T for divers good and valuable considerations, and also to sc~ctu-e the
payment of the aggregate sum of money named in the building loan rrortgage
Hate of even date herewith. (hereinafter the "bond"), together with interest
thereon, and all other sully of money secured hereby as. hereinafter provided,
the Mortgagor does grant, bargain, sell, alien, remise, release, convey and `
mzfism unto the 1?brtgagee, in fee sirl>f~le, the land of which the Mortgagor
is now seized and in actual possession, in the xmf x~lal>s t~unty
of St. TariP, State of Florida, and more particularly described lIl SCheditle
'A' attached ~rebo and made a part hereof. '
TpCEiHER ~ all the rr,,Lc, title aad it?cerest of the ~fort5a!tor, if aay, is aad to the land is tht bed of the streets
a bighsays abuttias the premises abose described (the "premises") to the center lint thereof;
10('6TtiER wits the a,~utc,au+ces and all the pceseat and future elute and righes of the bfongagor in and to.the
premises, aI! !asertttnts aad cigsts of way tww or Isezraftet useri in connection with cl;: premises, all improremenr,, buildings
sad suvcmcrs, and rep:scemeau therefor and ad3itions thereto, trove or u aay time hereafter erected, installed or placed
opoo. in or tusdcr the piccr:ises and all fi:cures aad attides of personal pcoperr/ aow or hereafter attached to or used is
moacaioo sith the p:eaises. ail of which ace herevT iadudcd is this morcgagr,
TOC>=THER :lso with aaq and a!I aruds betrofore made and hettaitcr to be made bq Ray muniupxl, state or fedtral
aot~wciries m the pr~r--c aad al! subseSaeat oaraers of the pcecnises indudiag any awards for anq dtan3es of grace of strr_'s
alferuiag tlx p:tatises, ~-hich axa:es ate hereby aisigaed to clst hforr3aget and tht legal teprescntatises, successors aad u-
sgas of rht Mott:acre: aad t2x ~forts~get aad else kSryl represeaaasea, successors and assigns of the \tongagee (at its oc
their opooo) berebg arc irresaably authorized aad tmpoweced to collect and receise the proceeds of any sash a~•aids from the
tnahoriaes czal<in3 the saw grad m gist proper recripa and xquittances c,4c:efot in any of their Starnes or in chc name of tl:e
3~tott3s3*x, and to apply the sar.t coward else payment of the aneounc owing oa atxounc of this mortgage and rite bond
>r3thaugh this zsor.~ a an3 tfnc bxd thca tmy roc be due and Atyab!t; the Jfoagagot ht:tby irresocably appoinu the ~Sort-
~ aad its o~ errs az?.1 tzvplacecs the arrorney in fact of chc :Mortgagor, coupled with an incetesc, to settle, compromise and
recast aay srch staid of awards aad to encorse any irtscruaxna Rich respect thereto and tltt ifortugor, for the Afortg3gor,
sad cbe 4gat re;.:escau:ises. hcin, c~cea:cors, sdministratoa, suaessocs and assigns of the \tortp3or, herc5y coscn_nts
aad s3ms wig tae J:o:t;zgte aad Lrx !,_?i repceseansises, successors and usigns of chc ~tortgagM,"t:;.oa reSuese by tote
boidcr of this r-r.:~~_, w a+ie, taecz_c .ad deiiser any and sil usiga.:.rnts and oche[ inscrurr:cnts sur~cient for tht puz~ose
of sssiytiZg r's_- a:o-ru:3 :sue:
ru rn ehe %.:icet of this taa-tgagt, fir., dear and disciurged of any and all encumbrances of any
triad a aac:rt wi:aaatccr_
ZD ~lrE PAID ZO Ht~ the foregoing Property unto the Nbrtgagee.
Rrie mortgagor hereby covenants with the i~brtgagee that the I`brtgagor is ,
indefeasibly seize3 with the absolute and fee sil~le title to said prcperty,
and has full P~~ and lawful authority to sell, convey, transfer snd mo~-tgaa.~
the sale; that it shall be lawful at any time .hereafter for the Abrtgaree to
pea+oeably and quietly enter upon, have, hold and enjoy said property, and every
part therc~f; that said property is free and discharged from all liens, encun-
branaes a.-id clai.~ of any kind, inclta3ing taxes aril assessments, except those
that may be set out above or hereinafter, that the rbrtgagor krill make at
rbrtgagor's e~en~e and at no expense to ilbrtgagee, such other aril further
to perfect the fee simile title to said land, fixtures and per-
9oafral proaer'~: in thv 26rtgag~e as may hereafter be required; and that the
)Ertgagor hereby fully grants unto the t`brtgagee the title to said property
ar,Z ~-i l l defend the saQne against the la~rful claims and detTl3rlds of all persons
whocnsoe~~er.
NCX~, Tf~ORE, the eo.-lditions of this ra`,rtgage ai~e such that if the
lbrtgagor shall ~~11 and truly pay unto it-,e i-brtgagce the indebtedness
evid~~ci b-;' chc, bo:~, to wit the principal s~.rn of OAT f•III.LIO\l SIh Eit1?-:DPI:D
RlKX~1~ and 00/lOJ ($1,600,000.00) DOLit'1~, the final ~ym~nt or wrsch is
due on April 1, 1831, together with any nott~, notes, bond or k~orxls hereafter
exc_~cuted by the rbrtga^,ur herein by and in acooiY3ance :pith paragraph 22 of
this m~rtgare as hereinafter set forth and securnd by the lien of this rrnrt-
c~~, t~?_?etl~r ~:-'t}! ;.trernst as tt:~rein stat~ecl, a*vl shall perform. comply
>writh and abides by each and ev.~xy orn~ of the stip•,ilations, agre~•tlents, condi-
tions iind oor~•~ants contained and set forth in this rrnrtgage .and in the borxi
se>cureci herd: , then this lrortgax~ ai>d the estate hereby created stall cease
and be null and veld.
THIS 1t~iSTRil~ll•:KT PREI'ARF.D BY: /~1
CAKOL A;:(:l(1LILL0, Gs(~. ~~`;~319 PsGE~~9
COLF, b 1~E1T"l.
40 t.'A1.1. STI:1'l:T
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