HomeMy WebLinkAbout1088 rORTOAOi O![O THIS IS A BALLOON MORTGAGE AND THE FINAL PA~~oRar Rcs
`°"i°'°"" OR THE BALANCE DUE UPON MATURITY IS $27, 346. 4TOGETHER
'i WITH ACCRUED INTEREST IF ANY ANDALL ADVANCEMENTS MADE 8Y
T~ MORT~ E UNDER THE TERMS OF THI~ ORTGAGE.
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frecufed the Z~ day of ~'CT~~~ , A. U. 1980 by
CHRIS CARAVIAS and MARY CARAVIAS, his wife 5~~3a;
hereina ter called th mor
1 e tgagor, to ABE COR and BESS COR, hl s wl f e , ROBERT SEVEFcI N
and CAROL SEVER IN, his wife, BEATRICE JA07£SO~V, a married woman,
STEPHEN LOUIS, STONE and ELIZABETH H. FAULK, p~ ~
hereinafter called the mortgagee: ~^~.0
I (N6erever rued berei" tAe tertm "tarttssor" atsd "surgtaSee" iarlude all i6e parties to 16is imtrnse"t and t?e ?sin,
kital Kpresentau~ri and atu~m of isdividuah, a"d the wrreuors and ani~as of rorporatioas; and the tent "wte"
incttrdn a0 tax notes 6erei" descriAed it tsore tlta" one.)
~ltn~SSebl, shat for goad and valuable considerations, and also in rnnstderotion of the aggre-
gate sum named in the promissory note of even date herewith, hereinafter described, the mortgagor here-
by grants, bargains, sells, aliens, remises, conveys and confirms unto the mortgagee all the ce?tnin land
of which the mortgagor is now seized and in possession situate in St. Lucie Counfy.
I F=lorida, viz: '
The South 400 feet of the East 684.5 feet of the Northeast 1/4
of the Northwest 1/4 of Section 31, Township 34 South, Range 40
East, in St. Lucie County, Florida less the initial partial release
described belaa.
TOGETHER WITH an easement for right-of-way 60 feet in width
lying 30 feet on either side of the center line, the center
line being described as follows:
BEGINNING at the Southeast corner of the Northeast 1/4 of the
j~ Northwest 1/4 of Section 31, Township 34 South, Range 40 East,
! run thence North 400 feet to a point; thence run westerly
342.25 feet to the point of beginning. From said point of
beginning thence go North to the' South right-of-way of St.
Lucie Boulevard.
! Subject to a certain easement for right-of-way 60 feet in width
lying 30 feet on either side of a center line, the center line
being described as follows: From the Southeast corner of the
Northeast 1/4 of the Northwest 1/4 of Section 31, Township 34
~ South, Range 40 East, thence westerly 342.25 feet to the point
j of beginning. From said point of beginning thence northerly
400 feet to a point being the end of the centerline.
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Provided, however, that mortgagees herein shall grant releases
to Mortgagors herein based on a total purchase price of
~ I $62,900.00 ($10,000.00 per acre) and beginning on the day of
~ ~ closing, of the sale the above-described property and on each
anniversary thereof, based on the equity of the Mortgagors
herein, in the above-described property which equity is defined
<< as the difference between the purchase price of $62,900.00 and
I the remaining principal balance on this mortgage. Calculated
~ ~ at closing and each anniversary thereof, Mortgagors herein
shall be entitled to a release of a certain number of acres
I) which number will be calculated by dividing the increase in
! equity by the number of $12,500.00 to produce a number or frac-
~ tion thereof of- acres which mortgagees agree to release, the
~ location of which shall be established by mdrtgagors.
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~ INITIAL PARTIAL ~}PASE: It is uryderstood aryl agreed among ~ the parties that
I following described property is not subject to the lien of this mortgage which
? constitutes the initial partial release as per the above paragraph: Fran the..;
Southeast corner of the NE 1/4 of the NW 1/4 of Section 31, 1lownship 34 South,
i~ .Range 40 East, go thence westerly 153.75 feet to the Point of Beginning, from
said point of beginning go northerly 400. feet to a paint, thence westerly 158.5
ii feet to a point, thence southerly 400 feet to a point, thence easterly 158.5
feet to the point of beginning, 4 C~
Received s O ~ In Payment Ot Te~cee
Oue On Ciess "C" Intangible Peteonalorttp~xtyr
pu?su+lnt to Chapter 71, 134, Act! O•'~T~.
ROGER POITRAS J~ ~ ~
' .awry Circuit Court, St. Lucre, Co., Fla,.
X342 t~i088