HomeMy WebLinkAbout0377 • ~
YOtti0A0E GEED RAMCO °ORM RE72 ~
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Execue.d the / ~ day o/ Apr i 1 A. D. ~ 9 8 0 6y
RIVERHOUSE CORPORATION -
a corporation existing under the laws o/ Florida and having its principal place of '
business at 75 Atlantic Avenue, Fort Pierce, Florida, 33450 ;
hereinn/ter called the mortgagor, to
JUDITH S.ALEX and LLOYD C.STRITE ,v
whose poato//ice address is
33~
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hereinaJeer tailed the mortgagee: -
(tN6ereMa otcd tweiw the terr "oortpEOr" awd wwrtpE«" include ail the parties to etas iastruastat awd etc heirs,
lepl tepresenutives asd atii2tu o/ iwdrviduals, sad else waccearors and a+sism of corporation; and the terse "vote"
iwclwdes ell t4 votes 6eniw descriEed it wore thin owe.)
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~~~1t~~ that /or good and valuable considerations, and also in consideration o/ the aggre- }
gate sum named in the promissory note of even date herewith, hereinafter described, the mortgagor here- i
6y groats, bargains, sells, aliens, remises, conveys and con/firms unto the mortgagee all the certain Iand
o/ which the mortgagor is now seized and in possession situate in St.LuCi.e County,
Florida. uiz:
11 of Block 4 of RIVERSIDE ADDITION TO FORT PIERCE,FLORIDA,according
to the plat thereof as recorded in Plat Book 3 at Page 51 of the Publi
Records of St.Lucie County,Florida,together with riparian rights. 5
HIS IS A THIRD MORTGAGE AND IS SUBORDINATE AND INFERIOR TO that ter- -
tain First Mortgage executed by Frances W.Fennimore in favor of Ben L. 3
Bryan,Jr.,as ancillary administrator C.T.A. of the Last Will and
estament of Agnes H. Hinman .dated August 30,1972 and recorded inO.R.
ook 205 at Page 2442 of the Public Records of St.Lucie County,Florida
in the original principal-amount of $140,000.00 AND that certain
Second Mortgage executed by Riverhouse Corporation, a Florida Corpora-
tion in favor of Fort Pierce Hotel,Inc.,a Florida Corporation ands
rances W.Fennimore-dated April 7,1978 and recorded in O.R.Book 287
at Page 525 of the Public Records of St.Lucie County,Florida in the ~
riginal principal amount of $237,500.00. Yf the Mortgagor is more 1
than ten days late in its payment to either the first or the second
- ortgagees then the third mortgagees herein shall have the right to T
'mmediately make said payments in order to prevent a default on the -
first or second mortgage. If the third mortgagees make said payments
hey must notify the third mortgagor within ten days of making the
ayment and the third mortgagor shall have sixty days from the date
hat the delinquent payment was due in order to reimburse the third
ortgagees for the delinquent payment plus any out of pocket expenses
i lus a penalty of ten percent of the delinquent payment. Should-the
bird mortgagor fail to make the reimbursement within sixty days of
he date that the delinquent payment was due or should either the
first or second mortgagees accelerate the payments due under the first
r second mortgages then it shall constitute an immediate default in
~ his mort a e and -
g g promissory notes secured hereby and the mortgagees
t erein may accelerate all payments due under this mortgage.
HIS MORTGAGE MAY BE ASSUMED ONLY BY THE WRITTEN CONSENT OF THE t
ORTGAGEES HEREIN AND ANY ATTEMPT FOR THE ASSUMPTION OF THIS MORTGAGE ~
ITHOUT WRITTEN CONSENT OF THE MORTGAGEES HEREIN SHALL ACCELERATE THE t
OTES, WHICH NOTES SHALL BECOME IMMEDIATELY DUE AND PAYABLE. '
N THE EVENT OF FORECLOSURE OF THIS MORTGAGE, MORTGAGEES AT THEIR
PTION SHALL HAVE THE RIGHT TO OBTAIN AN ORDER APPOINTING A RECEIVOR,
F THEY DEEM IT NECESSARY.
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B }rte ~ ~ V ` n r - ~ ~ 3 , i i ~ f
Raoslved • o t/ ~ In PsymsM O~ TaxM - . . • - ; ! a
~ Ous On Class "C" intangible Personslaraperty, ~ , a : ~ J 5. ~ ~ ; ~ Q. ~ ~ ,
pursuant To Chapter 71, 134, Acts O~ t ~ _ _ _ _ +
ROGER POITRAS - - _ _ -
~ r_lerS Circuit Court, St. Lucia, CO., Fitt.
. BOOM vcXJ P~Gf
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