HomeMy WebLinkAbout0729 LEGAL DESCRIPTION - Concluded:
As to Parcel I, excluding Blocks 43 through 48, inclusive,
THIS IS A PURCHASE MONEY FIRST MORTGAGE.
As to Parcel II, THIS IS A SECOND MORTGAGE, subject and
inferior to that certain first mortgage from Indrio Groves,
Inc. to Sybil Levita Culverhouse, et al, dated October 27,
1979, recorded in O. R. Book 319, page 704 of the public records
of St. Lucie County, Florida.
Blocks 43 through 48, inclusive, as per plat of Indrio Groves,
are encumbered by that certain first mortgage from Stirling.
Silliphant to The Federal Land Bank of Columbia, securing
an original principal debt of $80,000.00,-dated June 29.,
1976, recorded in O. R. Book 256, page 349 of the public
records of St. Lucie County, Florida. The Mortgagee herein,
Stanley H. Schwartz, Trustee, covenants to and with Mortgagors
to pay said first mortgage indebtedness when due, to hold
Mortgagors harmless therefrom, and to indemnify them from all
loss occasioned by reason of any default thereunder. Said
mortgagee further covenants to pay said mortgage debt in full
and to obtain and record a proper satisfaction of mortgage
not later than the .time of payment by mortgagors of the final
• installment due June 15, 1980, under the promissory note
secured by this mortgage. Any default hereunder by Mortgagee
may be cured by Mortgagors and the cost of such cure
~ shall serve to reduce the principal indebtedness secured
by this mortgage.'
C~ ~
D. K. Ric ardson
a ie H. R.ichardso
DAVIS ENTERPRISES , INC . , a
Florida corporation ~,.~`~y~. : _
B ~ 4
e Davis , J ~cti d~
• ra
. YL` r ~ ~ "`i 2
~ ~14.; it
" QF ,~jO' ~t~
.
. ~~~/7H1IR11~~
i.
PtlE0 ~ = FLA.
iT.IUCI_E . ,
R'° :t'URT
C~EF~. , ~
Now ~ Ile PMT-'
. 4~'774~
~i an~K 3~~ PAGE ~ f
1