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7'
509'706
PARTIAL RELEASE OF MORTGAGE LIEN
WHEREAS, HUTCHINSON ISLAND L1bi1TED, INS;., a Delaware
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 prcrnises and property therein
particularly described to secure the payment of the sum of money hereinafter
mentioned with interest thereon:
Mortgage given by }IUTCIiINSON ISLAND LIMITED Pr1RTNERSHIP, as
Mortgagor, in favor of THE FIRST NATIONAL BANIt OF CIi1Cr1U0, as tilortgagee,
dated December 4, 1978, and filed in Official Record Book 229. at Page 991, in the
Public Records of St. Lucie County, Floridn, in the original amount of Twelve
Million Dollars (512,000,000.00), and as modified by Modification of l~lortgage
dated June 2, 1980, and recorded in Official Records Book 332 at Page 1738 of the
Public Records of St. Lucie County, Florida, wherein HU'!'ClI1NSON ISLAND
L[MITED, INC. assumed the indebtedness secured by said Mortgage, and increased
the indebtedness to the principal sum of Thirteen 11lillion Dollars ($13,000,000.00),
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 Kecord Book 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 7,
1978, under File No. 966909, between said parties; and
WHEREAS, the said Mortgage has requested the said Mortgagee to
release the premises and other property hereinafter described, being a pact 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 yortgage and other liens referred to above unto the said Mortgagor, its
successors and assigns that certain Portion of the premises conveyed by said
Mortgage, and other liens referred to above more particularly described as follows:
Condominium Parcel No. ~~L, SEASCAPE I
CLUSTER -PHASE (B), a Condominium, according
to the Declaration of Condominium recorded
September 11, 1980, in Official Records F?~ok 338.
at Page 1033, of the Public Records of St. Lucie
County, Florida, and an~~ amem~:nents ttreretu.
1'O HAVE AND TO HOL.U the same, witi~ the appurtenances, unto the
said 1ortgagor, its successors and assigns fo*ever, freed, exonerated and
discharged of and from the lien of said Mortgage find every part thereof; provided
always, nevertheless that nothing herein contained shall in anywise impair, alter or
diminish the effect, lien or encumbrance of th • aforesaid lortgage 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 ~ clay of November, 1980.
Signed sealed and delivered THE FIRST NATIONAL BANK OF CIiiCAGO,
in the presence of: a national banking association
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This "snit+-e~nm::f pri•^sr~d by•
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nne R:::~:~ync• 'I'otiacr
141i:~rni, I~lur;da 3;1131
Phone: 371=G?41
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