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PAIt'TIAL RELEASE OF MORTGAGE I.II?N
WHEREAS, HUTCHINSON ISLAND LIMITED, INC., a Delaware
corporation authorized to transact business in the State of Florida, hereinafter
called ";Mortgrigor;' by the following described documents granted and conveyed
unto T1IE FIRST NATIONAL BANK OF CHICAGO, s national banking association,
hereinafter called "A'lortgagee" and its assigns, the premises and property therein
particularly described to secure the payment of the sum of money hereinafter
mentioned with interest thereon:
Mortgage given by HUTCHINSON ISLAND I.IMITF.D PAR1'NERS1i1P, as
~+iortgaoor, in favor of THE FIRST NATIONAL BANK OF CHICAGO, t~s Mortgagee,
dated December 4, 1978, and filed in Official Record Book 229, at Page 991, in the
Public Records of St. Lucie County, Florida, in the original amount of 't'welve
Million Dollars (;12,000,000.00), and as modified by Modification of !Mortgage
~+ated June 2, 1930, and recorded in Official Records Book 332 ttt Puge 1?38 of t=~e
Public Records of St. Lucie County, Florida, wherein HUTCHINSON ISLAND
LIA9ITED, INC. assumed the indebtedness secured by said Mortgage, and increased
the indebtedness to the principal sum of Thirteen Million Dollars {513,000,000.00),
together with an Assignment of Leases, Rents and Profits recorded in Official
Record Book 229, at Page 1002, and UCC-1 Financing Statement recorded in
Official Record [look 229, at Page 1008, all of said documents filed in the Public
Records of St. Lucie County, Florida, and in addition, a UCC-1 Financing
Statement filed with the Secretary of State, State of Florida, on December
19?8, under File No. 966909, between said parties; and
WHEREAS, the said Mortgage has requested the said ti'iortgagee to
release the premises acid other property hereinafter described, being a part of said
Mortgage, and encumbered premises, from the liens and operation of said Mortgage
and other liens;
NOW, THEREFORE, KNOW YE, that the said Mortgagee, in considera-
tion of the premises and the sum of Ten Dollars (510.00) and other good and
valuable considerations to it in hand paid by or on behalf of the said mortgagor at
the time of the execution hereof, the receipt whereof is hereby acknowledged, does
remise, release, quit-claim, exonerate, and discharge from the lien and operation
of said Mortgage and other liens referred to above unto the said Mortgagor, its
successors and assigns that certain portion of the premises conveyed by said
1ortgage, and other liens referred to above more particularly described as follows:
Condominium Unit 410 SGASCAPL•' I CLUSTER -
PHASE (A), a Condominium, according to the
Declaration of Condominium recorded
September 11, 1980, in Official Records Book
, a l~gL' lOJ.I ~ vl t11e 1~iiUltGf t1LCUPUS Uf Wit.
~ Lucie County, Florida.
TO HAVE AND TO HOLD the same, with the trppurtenances, unto the
said 1?Iortgagor, its successors and assigns forever, freed, exonerated and
disci~arged of and from the lien of said 1ortgage and every part thereof; provided
always, nevertheless that nothing herein contained shall in anywise impair, alter or
' diminish the effect, lien or encumbrance of the aforesaid Mortgage and other liens
referred ~ to above on the remaining property of said murtgaged premises, not
hereby released therefrom, or any of the rights and remedies of the holder thereof.
IN WITNESS WHEREOF, the said itiortgagee has hereunto set its hand
and seal this 28th day of August, 1980.
a
o-
Signed sealed and delivered THF. FIRST NATIONAL BANK OF CHICAGO,
in the presence of: a national banking association
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A4ialni, I~ iurida 33131
! I'twr~e: 377-0`1.11
a~~K 342 Pa~~ 245