HomeMy WebLinkAbout1835 MIDLANTIC NATIONAL BANK mortgage, and SOUTHEAST FIRST NATIONAL
BANK OF FORT PIERCE mortgage being made concurrently herewith, by way of
Increases in Interest payable thereunder and the costs and expenses of those
mortgagors Incident to the modification of their mortgages including state
documentary and intangible taxes and title insurance, to the extent paid by
MORTGAGOR, but not required to be borne by MORTGAGOR as provided in the
Agreement of Purchase and Sale, shall be deemed prepayments of the Purchase
Money Mortgage and note to be applied to payments necessary for subordination of
this Purchase Money Mortgage and release of condominium units in inverse order of
maturity of the purchase money note(s).
26. MORTGAGOR shall not transfer or convey the mortgaged property to
any entity or person in which Octavio Buigas and/or his wife and/or his lineal
descendants and/or legal representatives collectively do not own at least 50916 of
the legal and beneficial interest thereof, except for conveyances of individual
condominium units or conveyances of portions of the mortgaged property to a
master association or condominium association. -
27. MORTGAGOR will not permit any other liens, except for the existing
mortgage liens and the construction mortgage liens and taxes for the current year
which are not delinquent, to be filed or maintained against the mortgaged property
and, if any such liens are filed whether paramount or subordinate to .this Mortgage,
MORTGAGOR will have or cause to have said liens discharged immediately.
28. MORTGAGOR represents to MORTGAGEE that any "Developer
Agreements" that MORTGAGOR may =enter into to provide water and sewer }
services to the mortgaged property will run with and to the benefit of the
mortgaged property and will not contain any provision excluding MORTGAGEE
from the benefits of said "Developer Agreements:'
29. This Mortgage is subject to all of those provisions of the Agreement
for Purchase and Sale dated January 11, 1980, as heretofore modified, between
OCEAN FARK ASSOCIATION, INC., as~Se!ler, and UNIK GROUP CORP., as Buyer,
which has been assigned to MORTGAGOR, which provisions by their nature must or
~ are to be performed after the closing on the MORTGAGOR'S acquisition of title.
30. This Mortgage is subject to the terms of a Consent and Agreement
i
attached hereto as Exhibit "B".
IN WITNESS WHEREOF, the parties hereto have executed this PURCHASE
MONEY MORTGAGE on the day and year first above set forth.
Witnesses: THE SANDS LAKE VIEW DEVELOPMEl1j,~, r
a Florida Partnership, ?~~e.~.°•~-•w~w -
By: THE SANDS LAKE VIEW DEVEL~JP
• ~ CORPOR TION (General Partnef6 • n : - = ;
- Sands L w Development) `r
AS its: ~~ti`
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By: CoDevCo SOUTH FLORIDA PROPERTIES,
A Florida Partnership (General Partner of
The Sands Lake View Development)
~ By; W. THOMAS FLORIDA PROPERTIES, INC.
~ -
- (General Partner of CoDevCo South Florida
~ Propert,~es)
- By• ~ ~ - • -
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