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This Instrument Prepared by:
William Jay Lippman
Wien, Lane & Malkin
249 Royal Palm Way
Palm Beach, Florida 33480
MORTGAGE
THIS INDENTURE made the Z~ day of March, 1980,
between RADNOR/OCEANA SOUTH PARTNERSHIP, a Florida general
partnership, having an office at 9920 N.E. Ocean Boulevard,
Hutchinson Island, Jensen Beach, Florida 33457, ("Mortgagor"),
and IRVING TRUST COMPANY, a New York banking corporation,
having its principal business office at One Wall Street, New
York, New York 10015 ("Mortgagee").
WHEREAS, Mortgagor is justly indebted to Mortgagee,
having executed and delivered to Mortgagee its note ("Note")
bearing even date herewith, wherein Mortgagor promises to
pay to Mortgagee the principal sum of Sixteen Million
(516,000,000) Dollars, or so much .thereof as may be advanced,
lawful money of the United States of America, with interest
thereon at the rate and times, in the manner and according to
the terms and conditions specified in the Note, all of which,
are incorporated herein by reference;
NOW THIS INDENTURE WITNESSETH, that Mortgagor, in
consideration of the indebtedness, and to secure the payment
to Mortgagee of the principal with interest and all other
sums provided for in the Note and in this Mortgage, according
~ to their respective terms and conditions, and for performance
of the agreements,~conditions, covenants, provisions and
stipulations contained herein and therein and in certain
i other agreements and instruments made and given by Mortgagor
to Mortgagee in connection therewith, including, without limi-
tation, a certain Construction Loan Agreement, Financing
Statements, Assignment of Rents and Leases, Assignment of
Architects' Contract, Assignment of Construction Contract and
Assignment and Power of Attorney (such agreements and instru-
ments being collectively referred to as the "Related Documents")
hereinafter referred to, and also for and in consideration of
the sum of One Dollar ($1.00) paid by Mortgagee, at or before
the ensealing and delivery of these presents, the receipt
whereof is hereby acknowledged, by these presents, does
hereby grant, bargain, sell, convey, warrant, assign, trans-
fer, mortgage, pledge and set over unto Mortgagee and its
successors and assigns all the following property (the
0
~ "Mortgaged Property"):
00
(a) All that certain tract or parcel of land (the
"Premises") lying and being in the County of St. Lucie, State
of Florida, more particularly described and set forth in #
Exhibit A attached hereto and made part hereof; )
(b) All and singular the tenements, hereditaments,
easements, appurtenances, passages, waters, water courses,
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