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WNEREAS, ISLAtJD PARTNERS, INC., a Florida corporation,
individually and doing business as ISLAND PARTNERS JOINT
VENTURE, a Joint Venture, and HUTCHINSON ISLAND PROPERTIES,
INC., a Florida corporation, individually and doing business
as ISLAND PARTNERS JOINT VENTURE, a Joint ~'enture, Mortgagors,
by indenture of Mortgage bearing date the 27th day of August,
1980, and recorded in the Office of the Clerk of the Circuit
Court in and for the County of Saint Luci~, State of Florida,
in Official Records Book 337 at page 1836, mortgaged unto
MANUFACTURERS HANOVER MORTGAGE CORPORATION
and assigns, Mortgagee, the premises therein particularly
described to secure the payment of the sum of
Three Million Three Hundred Thousand Dollars .
($3,300,000.00), with interest as therein mentioned:
AND WHEREAS, the said ISLAND PARTNERS, INC., a Florida
corporation, individually and doing business as ISLAND PARTNERS
JOINT VENTURE, a Joint Venture, and HUTCHINSON ISLAND PROPERTIES,
INC., a Florida corporation, individually and doing business
as ISLANU PARTNERS JOINT VENTURE, a Joint Venture, have requested
the said
MANUFACTURERS HANOVER MORTGAGE CORPORATION
to release the premises hereinaf~er described, being part of
said mortgaged premises, from the lien and operation of said
Mortgage:
NOW, TNEREFORE: KNO~V YE, That the said
r1ANUFACTURERS HANOVER MORTGP_GE CORPORATION
as well in consideration of the premises as of the sum of
to it paid by the said ISLAND P~RTI~ERS, INC., a Florida
corporation, individually and.doing business as ISLAND PARTNERS
JOINT VENTURE, a Joint Venture, and HUTCHINSON ISLAND PROPERTIES,
INC., a Florida corporation, incividually and doing business
as ISLAND PARTt:ERS JOI~~T VENTURE, a Joint Venture, at the
tirne of the execution hereof, the receipt whereof is hereby
acknowledged, does retr.ise, release, cuit-claim, exonerate
and discharge from the lien and o~eration of said Mortgage unto
the said ISLAND PART:vERS, INC., a Florida corporation,
individually and cioing b~~siness as ISLhhD PARTi:ERS JOINT
VE~:TURE, a Joint Venture, and Hi:TCHII~S~ON ISLAND PROPERTIES,
Ii~C., a Florida corporation, individuall~y and doing business
as ISLF~ND ?ARTt:ERS JOINT VEt~TliRE, a Joint Venture, their
heirs and assigns all that piece, parcel or tract of land
being a part of tY,e pre,~~ises cor_veyed by said :'ortgage, to-wit:
That certain condominium parcel corr~posed of Apartment
Nurnber 307 , and an undivided share in those common
elements aFpurtenant thereto, in acccordance with and
subject to the covenants, conditions, restrictions,
terms, and other provisions of tt,at Declaration of
Condominitur~ of ISLA'dD BEACH CLUB, a Condominium, as
recorded in Official Records Book 343 , on pages
~32 through 800 , as recorded in the public
records of Saint Lucie County, Florida.
TO HAVE AND TO HOLD the sa;..e, with the appurtenances, unto
the said ISLAND PARTNERS, INC., a Florida corporation,
individually and doing business as ISLAND PARTI~ERS JOINT
VEN`PURE, a Joint Venture, and HUTCHItdSON ISLAtiD PROPERTIES,
INC., a Florida corporation, in~ividually and doing business
as ISLAND PARTNERS JOIt~T VENTGRE, their heirs and assigns
Bo~3~s P~~E14~~
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