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PARTIAL RELEASE OF MORTGAGE LIEN
KHUDDASlO1-23083635
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WHEREAS, HUTCHINSON ISLAND LIMITED, INC., a Delaware ` i
corporation authorized to transact business in the State of Florida, hereinafter
called "Mortgagor," by the following described documents granted and conveyed
unto THE FIRST NATIONAL BANK OF CHICAGO, a national banking association,
hereinafter called "Mortgagee" and its assigns, the premises and property therein
particularly described to secure the payment of the sum of money hereinafter
mentioned with interest thereon:
Alort,;age given by HUTCHINSON ISLAND LI\7ITED PARTNERSHIP, as
Mortgagor, in favor of THE FIRST NATIONAL BANI{ OF CHICAGO, as 1~lorigagee,
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 Twelve
Million Dollars (;12,000,000.00), and as modified by Modification of Mortgage
dated June 2, 1980, and recorded in Official Records Book 332 at Page 1738 of the
Public Records of St. Lucie County, Florida, wherein HUTCHINSON ISLAND
LIMITED, INC. assumed the indebtedness secured by said Mortgage, and increased
the indebtedness to the principal sum of Thirteen Million Dollars (;13,000,000.00),
together with an Assignment of Leases, Rents and Pcofits recorded in Official
Record Book 229, at Page 1002, and UCC-1 Financing Statement recorded in
~ Official Record Book 229, at Page 1008, all of said documents filed in the Public
. Records of St. Lucie County, Florida, and in addition, a UCG-1 Financing
Statement filed with the Secretary of State, State of Florida, on December 7,
1978, under File No. 966909, between said parties; and
WHEREAS, the said l~lortgage has requested the said Mortgagee to
release the premises and other property hereinafter described, being apart of said
iViortgage, and encumbered premises, from the liens and operation of said Mortgage
and other liens;
NOW, THEREFORE, KNOW YE, that the said 1~lortgabee, in considera-
tion of the premises and the sum of Ten Dollars (510.00) and other good and
valuable considerations to it in band 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-elaitn, exonerate, and discharge from the lien and operation
of said iviortgage and other liens referred to above unto the said :Mortgagor, its
successors and assigns that certain op rtion of the premises conveyed 5y said
ti4ortgage, and other liens referred to above more particularly described as follows:
Condominium Parcel No.~/~ SEASCAPE 1
CLUSTER -PHASE (B), a Condominium, according
to the Declaration of Condominium reeord~d
September 11, 1980, in Official Records Book 338,
at Page 1033, of the Public Records of St. Lucie
County, Florida, and any amendments thereto.
TO HAVE AND TO HOLD the same, with the appurtenances, unto the
said 1~lortgagor, its successors and assigns forever, freed, exonerated and
discharged of and from the lien of said Mortgage 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 mortgaged premises, not
hereby released therefrom, or any of the rights and remedies of the holder thereof.
IN WITNESS WHEREOF, the said Mortgagee has hereunto set its hand
and seal this/ .day of November, 1980.
Signed sealed and delivered
in the presence of:
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Z•iIIS tihlRltCCaf !ir, t^,~"!l I)y'
I%l'.AI'I~ l'1•;.1ii~~i)t S"i'i:IV~1[~'t' RICIib~1AN
(;iii";i:l::: 11'.'11.. 1'.A.
'i'::~entt'-i itt~~ I~luor
nnc Biscayne To::cr
i4liami, Florida 33131
Phone: 377-0241
THE FIRST NATIONAL BANK OF CHICAGO,
a national banking association
Attest: (~.-~` /LLc,cl,~~
8~~3~4 p~i130