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• ' MORTGAGE
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The Mortgagor.ANTHONY GRECO as Trustee,whose mailing
address is P,O.Box 1161,Stuart,FL 33494,in consideration of the
sum specified in the promissory note described below,hereby
mortgages to the Mortgagees,RICHARD VERBIC and EUGENE V.LeMAIRE
as Trustees and as ~oint tenants with right of survivorship,
whose mailing addresses are 1209 Dundee Avenue.Elgin,Illinois
•• 60120 and 22 West 431 Elmwood.Drive,Glen E11yn,Illinois 60137.
._:,..., respectively~~he real property described as follows:
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The North 1002.14 feet of the 5outh 2889.8
~~ ; feet of fractional Sections 4 and S,in To-
__ wnship 36 South,Range 41 East,St.Lucie Co- _
L:, unty,Florida.
! Together with all riparian and littoral ri-
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i~ ghts thereunto appertaining.
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" ' . _ Subject to the existing right-of-way of St-
~_~ ~ ate Road A-1-A and to zoning regulations.
~ This is a purchase money mortgage given to secure the
! payment of the aggregate principal amount of One Million Two
~~ Hundred Thousand dollars ($1,200,000.04) as part of the purchase
. , price for the sale of said property by the Mortgagees to the
_. 1-tortgagor,which part of the purchase price is evidenced by a
pramissory note of even date herewith,given by the Mortgagor to
~~ -~~ the Mortgagees in the principal, sum as aforesaid.
The note bears interest at the rate of Ten percent
(lOZ) per annum on the principal balance remaining from time to
~~ time unpaid.Interest is payable semi-annually at the same time
~-~ as the principal payments.The principal amount is payable in
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.Six (6) equal consecutive semi-annual installments of Two Hun-
~~~ dred Thousand dollars ($200,000.00) each.The first payment be-
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ing due Six (5) months from the date hereof.
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The note may be prepaid in part or in full at any time
after the year 1981 without penalty.Advance payments shall apply
to the next maturing installment.
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The Mortgagor agrees to make all payments required
by the note and this mortgage promptly when due;to pay all
:. taxes,~ssessments and liens with respect to the property before
• ~ the same become delinquent;to commit,permit or suffer no waste,
impairment or deterioration of the property;and to pay all costs
"~ of collection,including a reasonable attorney's fee,reasonably
incurred by the Mort~agees because of the Mortgagor's default.
If the Mortgagor fails to pay the taxes,assessments
or liens with respect to the property before the same become
delinquent,the Mortgagees (after giving the Mortgagor written
notice thereof at least ten (10) days in advance,during which
tir.~e the Mortgagor may cure the default) may pay the same and
such payment shall become a part of the indebtedness secured by
this mortgage and it shall immediately become due and payable
and shall bear interest at the rate specified in the note.
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J. STOCKTON BRYAN. P. O. BOX 1161. STUART. FLORIDA 33494
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