HomeMy WebLinkAbout1061i
`,~ ,
~_Lb~~~;~
MORTGAGE DEED
THIS MORTGAGE DEED executed the 25th day of February, 1981
by SIDNEY RIBAKOFF, BERNARD ANSCHER~ C. R. LAIT and D. R. B. ASSOCIATES.
INC., a corporation existing under the laws of the State of Florida,
with its principal place of business at Port St. Lucie, Florida. here-
inafter called the Mortgagor. to T. J. LASSITER, JR.~ and VALMA
ROBERTS LASSITER. his wife. hereinafter called the ?tortgagee:
(Wherever used herein the terms "Mortgagor" and "Mortgagee"
include all the parties to this instrument and the heirs,
legal representatives and assigns of individuals, and the
successors and assigns of corporations; and the term "note"
includes all the notes herein described if more than one.)
WITNESSET~i, that for good and valuable considerations, and also
in consideration of the aggregate sum named in the promissory note
of even date•herewith, hereinafter described. the *4ortgagor hereby
grants, bargains. sells, aliens, remises, conveys and confirms unto
the Mortgagee all the certain land of which the Mortgagor is now
seized and in possession situate in St. Lucie County. Florida, viz:
Lot 9 of Block 4 of MODEL LAND COI~ANYS
SUBDIVISION in Section 15, Township 36
South, Range 40 East, according to the
plat thereof filed in Plat Book 1, page
41, of the public records of St. Lucie
County. Florida.
THIS IS A PURCHASE '.r10YEY FIRST MORTGAGE.
'. TO HAVE AND TO HOLD the same, together with the tenements.
heredi*a~, nts and ~~~urten~._ ces thereto ~elor~ing, an~! *he rents,
issues and profits thereof, unto the Mortgagee, in fee simple.
•\iT ~-L... V~~~.~...~.~~.. ~..~~ ~ •L ~3.~. 1I...~a~~.~~~ ~L..~ ~L~. 1/.....~-.~...~..~
rL~u ~sac iavi a.fjabvi ~.v~iciaoaaa.a Ri`aa uac •ava a.gaFjcc `aaaa. ~uc aivi a..6a~vi
is indefeasibl_y seized of said land in fee simple; that the :lortgagor
has good right and lawful authority to convey said land a5 aforesaid;
that the *'Iortgagor will make such further assurances to perfect the
fee simple title to said land in the Mortgagee as may reasonably be
revuired; that the Mortgagor hereby fully warrants the title to said
land and will defend the same against the lawful claims of all persons
whomsoever; and that said land is free and clear of all encumbrances.
RELEASE CLAUSE: Said land shall be released bv the '4ortgagee
as eac~~o, or fraction thereof, of the principal amount of the
promissory note substantially copied below is retired. The payment
of each l~o of the principal. or fraction thereof, shall entitle the
Mortgagor to a release of 17~, or fraction thereof, of the total front
footage of said land; provided that said releases shall be on a front
foot basis only. The property to be released shall be of the Mort-
gagor's choice, up to $G7a ot the total rront rootage; provided that
said releases shall not deprive the Mortgagee of a security interest
in one contiguous parcel containing not less than 20% of the total
front £ootage.
PROVIDED ALWAYS. that if said Mortgagor shal~ pay unto said
Mortgagee the certain promissory note hereinafter substantially
copied or identified, to-wit:
~ 1•
l
a ~
~ • • ~
`
• ~
~ . ~
~~~~'a~~~V~Ai~/, r'L~ i!~~ir~~ '-'
'~~f + ~ ~~y.., - t," _-,
- :~ _= ~~~•.-_ _~ ~ ::~4 B 3.~ ~
_ ~ , ~h
~ __
~~f ! 7)
Q°` `~`~'; ~ ~~ in P~Yment Of t~
: .~ on c~as~ '-c- +~~+.P«sorw woo,~rq,
P~•: su~nt To Ch~1~- i 1.1i~ Aod pf !l~Jt, ~
~r~o~ ~~;:~
~~ c~.«~~ co~ ~ t~a o~ w.~
~I ~ ~ w'3F~~
f '
~
~v ~~ ~. - _ - - - .
.~~,-:s:;F.2,:~._.:f'~.r:--.-_. .. -_. ~ -.. . ~ - -. _ . :