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PHIS INSTRUMENT PREPARED 8Y:
Richard D. Sneed. Jr.. R ~.
SNEED & MESSER, P.A.
T00 V49ini. Awnw
Suilo 101 • Swt e.dt eldy.
IKa, Florida 3Z4i0
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Wlwawr and ~.r.l. t\. taa^. " ad "wort~r." iwduM wll tr partka to t-r iartrusawt .stt u. t+air.,
kpl tep~rwadaea a.d asipa at u~divNw~ u~ tl-e weesaa MA a~~ of eorponuar: aw/ tM tnw "wu" .
iwalydaa dl tM twtw MrNa Mrrilw~ it soon t-aa sae. VCAerawr uad for aln~ular nuwtxr aAall irlude tAe plural sad
tM plural eM ale~ular, and tUe ufa el awe auder aAall irw~lud. all R~'n i
h:recuted the 'yam day ~,j .OrCern~tr .4. D. J980 ,
by BERNIE THAMES
hereinafter ~ullr'd the ~llort6agor, to
Corporation,
herci~t~t/'tPr called the .lforl~agee.
NEVADA TOOL & DIE CO., a Nevada
tM a/d, See,oo
RfCENED: aS00 iN PA`'':'%NT CF T.'.XES
CJE QV CL"SS 'C' IMTt?;C B'_E P-:'.~~'.'l f "- i. TVA
FU :S.:Ni To ~+.:.::~: n-..a, : ~.TS ~ l~ln,
C;.su7 Pu1T~S
G.EAK CIR6WT COritT, iT. WGE W. F1lII~p •
~tfrip88Pf~, that for diners Food and Lalua.ble considerntions, anal also in
considers-tion of the a~sgregute sunz na»aed in llte promissari/ Hate of ~•z•ciz date Itere-
rtiUe., herciitafterdescri.Gcd, the said .Mortgagor, d~~es giant, l~nroaiit., sill, iilien, remise,
release, convey and co~iJirnt onto the said ~fort~-ugec, in fcc simple, all that certain
tract of land, of zrhich. t/ee said .;llw•tgagor is it.ou• sei--zed and possessed, and iaz uchual
possession, sittutte in St. Lucie Corticty, state of I'loridu, described
as follows:
The South 80 feet of Lot 36, less the E 270',
MARAVILLA GARDENS, UNIT NO. 1, as per plat thereof
recorded in Plat Book 6, page 55, Public Records of
St. Lucie County, Florida.
SUBJECT to conditions, restrictions, reservations, limitations
and easements of record; applicable zoning ordinances, taxes
and assessments for the year 1980, and subsequent years.
THZS IS A SECOND PURCHASE MONEY MORTGAGE.
Mortgagee grants to mortgagor the right to have released from
the lien operation and effect of this mortgage 75 foot parcels
(the 75 foot measured from East to West and the entire parcel
being released running from the North to the South for and in
consideration of the sum of 125$ per foot principal reduction
of the purchase money mortgage for each 75 feet released.
Releases shall oa:menoe at the East border of the property and may progress
only in a Westerly pattern and, with the eaweption of the first tract to be
released, may be made only if the tract to be released is contiguous to a
tract previously relea.9ed. The manner and progression of releases will not
prevent any excess frocitage from being released and will maintain access to
reads, utilities and drainage facilities for land whid~- renains iuzreleased.
Releases may not be made if the ilnrtgage is in default. The cost of effecting
all partial releases is to be borne by the mortgagor. Release rights are
clmilative, in the event payment (e~acluding the down payment) are made in
reduction of the note for which no releases are requested, the mortgagor may
later request that releases be made as a result of the previous paym~~t.
~D ~l~Ue Mtt~1 fit ~i1j~ the same, together with the tenements, hereditct-
znents and appurtenances, unto the said .~Kortga~see in. fee simple.
,t~It~1 said Mortgagor does covenant with said .1~lortgagee that said Mortgagor
is indefeasibly seized of said lacnd in fee simple; that the said .iilortgagor leas full
power and lawful right to convey said land in fee simple aw aforesaid; that it shall be
lawful for said .Mortgagee at alt times peaceably and quietly to enter upon, hold,
occupy and enjoy said land; that said land is free front all incumbranees; that, said
Mottgager wilt 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
does hereby fully warrant the title to said land and will defend the same against the
lawful claims of alt persona whomsoever. - ~
g~344 ~•~E 968
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E I~ MiDSTATE LEGAL SUPPLY COMPANY
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