HomeMy WebLinkAbout1259 • z. 232 rep= 633
RIDER APART OF PURt~SE I~'Y MORTGAGE GIVIId
BY OANIEI, RDDRIGUEZ, AS MDRTGATOR TO SIGi~AZURE
O~RPORATIOr1, AS MDRTGAGF~E
8. Phis is a purchase money third mortgage, subject to those mortgages
filed in the St. Lucie County, Florida Public Records in O.R. Book 223, page
423, and O.R. Book 282, Page 1198, and subject to those mortgages filed in
the Okeechobee Qotaity, Florida Public Records in O.R. Book 155, Page 469, and
O.R. Book 211, Page 241. The rights of the mortgagee stated herein are in
all respects subordinate to the rights of the holders of said senior mortgages.
This mortgage is also subject to oil, gas and mineral lease to Shell Oil Do.
appearing at O.R. Book 195, Page 2401, St. Lucie Oounty, Florida, Public Rewrds. .
9. The rights of the parties stated in the Promissory Note referred to
and exhibited above shall cpvern to the extent in onnflict with any orntrary
provisicn of this Nbrtgage.
10. Mortgagee, by accepting thi.5 mortgage deed, covenants and agrees with
Mortgagor that Mortgagee will release land from the lien of this mortgage as
requested by Nbrtgagor for each payment or prepayment of principal, subject to
the following restrictions: (a) Releases shall be made only while Nbrtgagor
is not in default in the payment of principal or interest under the teams of .
the note secured hereby; (b) the Release price per acre shall be one hundred
twenty-five per cent (125$) of the original mortgage burden per acre; (c) the
minimum area of land to be released at any one time shall be eighty (80) acres;
(d) only land that is contiguous with land at that time free of the lien of
this mortgage may be released; and (e) Parcel A as described on page 1 of this
Mortgage shall not be released until all of the-land comprising Parcel B has
been released.
11. Either party tutiiis mUrcgac~e s-'nalt prc3vic3e e5u~el leLZ~s a5 .
requested by the other, at reasonable intervals of time, stating. the balance of
principal aaed and unpaid, interest aocnaed to date, modifications of the
rrortgage made by agreement betweesi the parties (if any) . In addition, the
Nbrtgagee, in each such estoppel letter, shall state whether or not there is
any default in performance of the obligations of the Mortgagor, and, if any,
shall specify the matters in Mich the Nbrtgacpr is in default.
Signed for identification
I
f--•
~ 1 1979
F
d
q~
3
i
z
~~~.s~a
`r
1980 JAN -8 PH 2 08
s~l 0 (AEND RE Y FLA.
r
ER POI~RAS
CLERK CtRCU1T C T
RftCRQ VERtFiEO._~
v
1•@ ~ 1257 232 psct 633
' EOOK~~,J PLGE