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WHEREAS, ISLAND PARTNERS, INC., a Floxida 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 Venture, 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 Lucie, 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
($3,300,0.00.00), with interest as therein mentioned:
AND WNEREAS, 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 ISLAND PARTNERS JOINT VENTURE, a Joint Venture, have requested
the said
MI~NUFACTURF.RS HANOVER MORTGAGE CORPORATION .
to release the premises hereinafter described, being part of
said mortgaqed premises, from the lien and operation of said
:dortgage :
NOW, TfiERF.FORE: KNOW YE, That the said
i•1ANUF~'1CTURERS HAtiOVER '•~ORTGAGE CGRPORATION
as well in cor.sideration of the prcmises as of the sum of
to it paid by the said ISLAND PART":ERS, IyC., a Florida
corporation, individually and doing business as ISLAND PARTNERS
JOINT Vf:NTURE, a Joint Venture, and HUTCHINSON ISLAND PROPERTIES,
I~:C., a Florida corporation, individ~ally and doing business
as ISI.':*JD PART::FRS JOI;~:`T VENTL'RE, a Joint Venture, at the
tir:~e of the exec~~tion hereof, the rec~ipt whereof is hereby
~3c'~nowledged~ C3G~'_S remi se, release, quit-claim, exonerate
and discharye frorr: the lien and operation of said btortgaye unto
the said ISLr1t~D ~~~,R'ihERS, INC., a Flori ~a carpcration,
indivi~ually and coing business as ISL:':D PA RTK~RS JOINT }
Vi.::TU}2E, a Joint Venture, and ~iGTC'riI1SG'; ISLAND PROPERTIES,
I;~C., a Florida corporation, individually and doing business
as ISLf~ND PARTNFRS JOINT VENTt'RE, a 3oint Venture, their
heirs and assigns all that piece, parcel or tract of land
neing a part of the premises conveyed by said :'ortgage, to-wit:
That certain condominium parcel co^posed of Apar~ment
`3urnber 20'1 , and an und ivided snare in those common
elernents appurtenant thereto, in acccordance with and
subject to the covenants, conditions, restrictions,
terms, and other provisions of tr~at Declaration of
Condominium of ISLA?vD BEACH CLUB, a Condor~~inium, as
recorded in Official Records Sook 343 , on pages
732 through 800 , as recorded in the public
records of Saint Lucie County, Florida.
TO f~AVE A~D TO HOLD the sa~e, with the appurtenances, unto
the said ISLAtiD PAR~'NE~RS, INC., a Florida corporation,
indivi~ually and doing business as ISLt:`:D PP.RT~:ERS JOINT
VEt~TURE, a Joint Venture, and HUTCHINSOti ISLAND PROPERTIES,
INC., a Florida corporation, individually and doing business
as ISLAND PARTNERS JOI2~T VENTGRE, their heirs and assigns
s~`o~ 348 PacE 569