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4'~'~960
MoRTOwaa Deco ~ RAMCO•s FORM a
$~~S ~[Ort$uge ~e~D, l~xeoutsd tke 15th ,~.y of January
A.D 1980 ~ BURLINGTON INVESTMENTS, LTD.
hereinafter called the Mortgagor to JOHN A. HOAG, as Trustee
hereinafter called the Mortgagee -
WITNI~SSETH, That for divers good and valuable considerations, and also in conaidsration
of the aggregate sum named in the promissory Hots- of even data herewith, hereinafter ds-
acribsd, the said Mortgagor grant, bargain, sell, alien, remise, reieaas, convey and confirm
unto the said Mortgagee-, its heirs and aarigns in fee simple, aR the certain tract
of land, of which the said Mortgagor is ~ seized and possessed, and in actual poa-
I session, situate in_ St . Lucie .County, State of Florida, described as follows
Begin at the Northeast corner of Lot 11, Kellem's Subdivision,
Plat Book 3, page 85; then run West 1250 feet to a point; then
run South 230 feet; then run East~850 feet to a point; then
North parallel to the East line of said Lot 11 for a distance
of 100 feet; then East 400 feet to the East boundary of Lot 11 as
aforesaid; thence run North along the East boundary of said Lot 11,
130 feet to the Point of Beginning, all being located in Section 34,
Township 35 South, Range 40 East.
~ Lot 10, J. I. Kellem's Subdivision, as per plat thereof on file in
Plat Book 3, page 85, of the public records of St. Lucie County,
Florida.
EXCEPTING THEREFROM all Rights of Way for drainage canals and public
roads.
~ This mort a e, and the Promissor Note which it secures, may be
r g g y
prepaid in whole or in part at any time without penalty.
~ Mortgagee agrees that mortgagor and its agent shall not be personall
liable upon the Promissory Note secured by this mortgage. In the
event of a default, Mortgagee, his heirs, successors and assigns
~ agree to -look solely to the security of the real property described
in this mortgage for payment of the Promissory Note obligation.
This is a purchase money first mortgage.
The mortgagee agrees to join in a platting that may be proposed by
~ the mortgagor or otherwise participate without cost to the
iI mortgagee, or payment to the.mortgagee, in-any applications that mig t
be required to any governmental authorities in connection with the
utilization and development of the property.
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