HomeMy WebLinkAbout0810 11 Fovea 106 Flw.da MORTGAGE DEED ~ VGIA~ • - • 1~ ~
700 V4p4i~
tk2CUlIVe line n.~~ 10~ ~ 5ta" .
Fact Playa, FbeWa ~3r50
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adadet'eir~tM~aotr Mnta ei
i~irl~ sa0 tAe wcaw~on aai aa~aa d eapon4wr: aa0 tM 1r~ sole'
~nibM J awn t?aa oae. W?KnvM wed the da~ular aasb* mall seclude tAe plaral >tad
t?e plaeal tM daaWar, aad tLe nee o/ oar deader dull inelud, ell ~eadere./
F,.rerrtted the 2~ daJ of /Yf~ .4. D. 1980 ,
bJ EASTI~IAL INV138TMENT3 ~=N.V. by A. S. RAY, 1 anaging Director,
hereirtajter c•ctl/r~l the ..~llort6agor, to Charles M. Neviaser, as Trustee, and
Louis J. Carusillo, as Trustee,
herFinnjter rallyd thc• afortbabee.
~tft1PASPf1~, that for diners good and valuable considerations, a»d also in
consideration of tine a.ggresate srcnt named iu the pr•ontissorJ gate of ~•rc•ir date here-
rt~itlt., herci~tafterdescriGed, tlresaid .Alort~agor, does grant. brrr;,~irin., sell, nliNU., remise,
release, conncJ and con/irna unto the said .Aortgagee, in jee simple, all tiicat r_c~rtuin I
tract of land, of u~hicir. the said Jliortgagor is norr sei;.ed uncl possessed, and in. actrurl.
possession, situate in St. Lucie Court,tJ, State of ~'loricla, described
~ , as follows:
Government Lots 5 and 6 and the East 1/2 of thz SW 1/4 and the South
15-1/2 acres of the West half of the SW 1/4 of Section 3; and
Government Lot 3, of Section 4; ALL. in Township 34 South, Range 40
East, lying and being in St. Lucie County, Florida; TOGETHE.2 with
ALL Riparian and Littoral rights appertaining thereto; excepting
therefrom rights of way for public roads. ~
THIS IS A FIRST PURCHASE 'MONEY T~ARTGAGE SECURIyG (16) PROMISSORY !DOTES
JF EVEPi DATE. A DEFAULT IN THE TERI+IIS OF ANY NOTE SHALL AUTOMATI-
CALLY ACCELE:tATE THE TER~'iS OF THE OTHER NOTES .
"brtgagees' sole and exclusive ranedy in the event of default on any
promissory notes is foreclosure against the Lrort~ged property. '~brtgagor shall
rat be persorLally liable for the terms, conditions, o~venants and pror~lises of the
mortgage and promissory rotes secured thsreby.
Provided >rortga9or .is rat in default mortgagee shall release from the terms,
oanditi,ons, covenants and encunbrances of this mortgage 100 foot uarcels (the 100
foot measure3 from I~brth to South and the eltire parcel being released naming from
the ocean to the river) bo mortgagor for and in eansideratian of the sum of
$170,000.00 principal reduction of the rnirchase money martgage plus accrued interest
for each 100 feet released. Releases shall oom~ence at either t:~e :~brth or the
South border of the pzvperty and may p~vgr~ss only in a northerly or soutl~rly
pattern as the case~nay b~, ard, every release after the first tract is released,
may be made only if the tract to be released is oonti9uous to a tract previmisly
relelased. The *na~er arxi progression of releases will rot prevent any excess
frontage fran being released and will maintain access to roads, utilities and
drainage facilities for land which ra>gins unreleased. The cost of effectitag
all partial releases is to be borne by the imrtga~r. Releasa~ac~i~yts are rulula-
tive, arid, in the event payments (excluding the down paym~. ~e made in reduc-
tion of the note for which m releases are"z'e~uested, the m2~t~OX later
request that releases be :>ade as a result of the previous payment.. -
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t
~D ~MUe end ~ ~Dld • the stxme, together with the tenements, hereditct-
~nents and appurtenances, unto the said Mortgagee in fee simple.
.end said Mortgagor does eonenant with said Mortgagee that said .Mortgagor
is indefeasibly seized of said land in fee simple; that the said .lbiortgagor lras full a
power and lawful right to convey said land in fee simple a.~ aforesaid; drat it shall be
lawful for said .Mortgagee at alt times peaceably and gtcietly to enter upon, )told, i
occupy and enjoq said land; that said land is free from all incumbrances; that, said
.Mortgagor will make such further assurances to perfect the fee simple title to said
land in said Mortgagee as may reasonably be required; and that said Mortgagor
doss herebl; f
wll~ zs~arl•Qnt the titter to said lard and urill defend the same against the
lawful clacims of all persons whomsoeaer.
MIDSTATE LEGAL SUPPLY COMPANY BQO!(~4 P~GF
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