HomeMy WebLinkAbout1078cludes any successor in ownership of the lands encumbered by this
Flortgage.
Section 3.15~. The proceeds of this Mortgage are being
disbursed Fursuant to the Loan Agreement ("Loan Agreement") of
even date herewith between Mortgagor and Mortgagee, which agree-
r.;ent, by reference thereto, i s made a part hereof . 'I'he Loan
Agreement contains a partial release provision.
Section 3.16. Mortgagee is entitled to participate in
the anticipated receipts from the sale of condominium units to be
constructed upon the Premises in accordance with the terms of the
Loan Agreement. It is intended that Mortgagee's Participation be
lawfully exempt from consideration as a payment of interest, or in
the nature of interest, and that it comply with Florida Statutes
Section 687.03(4), as in effect on the date hereof.
IN WITNESS 1~11iEREOF, this
by Mortgagor as of the day and year
Witnesses:
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STATE OF FLORIDA
CnU~ITY ~OF PAIIVf E3E11CH
hfortgage has been July executed
first above writte .
W~:STOi3-FLO A D ELAPME[1T
CORPORATI a F Orida
Corpora f
,CGC'ti~
By
r im ' i Li.i a,
Presi nt/
v
The foregoing instrument was acknowledged before me
~_~day of,/_E~C~71~~Q 19~, by Primo DiLuca, as President of
t~ESTON-FLORIDA DEVELOPhfENT CORPORATION, a Florida corporation,
behaYf of the corporation. _
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