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~ 00138 ~
RECEIVER'S CERTIPICI?T8 OF INDEBTEDNESS
Certificate Of Indebtedness ~
of the =
Receiver oE Waterwcod Homes Corporation ~
Series 1
Issue of $I00,000.00
No. $100,000.00
This is to certify that there is due
to from
Dona Ricci, not in ivi ua y, ut in is capac~ty as Receiver for the
property of Waterwood Homes Corporation, the sum of One Hundred
Thousand Dollars (#100,000.00), payable on or
before , 19 . Payment shall be made on
presentation an surren er o this certificate when due in accordance
aith the terms hereof at the office of
, City of , County
of , State of F ori a. Interest ahall be payable
hereon at the rate o twelve percent (12$) per year, payable quarterly
at the office mentioned above, beginning on . 1986, on
presentation of written demand thereof, as each such quarterly payment
becomes due, until the principal sum is fully paid.
This certiffcate is subject to redemption at any time before
maturity at par and accrued interest by the deposit of the sum due
tt~ereon, principal and interest, with the above-designated
. On deposit of s~ch amoun~, interest
shall imme iate y cease provi e that in case this certificate is paid
before the date of maturity~thereof, notice of such payment shall be
published once each week for four (4) consecutive weeks in a newspaper
of general circulation published in the County of St. Lucie, State of
Florida, immediately preceeding such payment.
This certificate is issued under the authority of and in accordance
with an Order of the Circuit Court of the 19th Judicial Circuit in and
for St. Lucie County, Florida, aa~ea , 1986, and
in accordance With a prior Order of sai Court, ate June 18, I986,
made in a cause pending therein, entitled BSN FRANRLIN SAVINGS v.
WATSRWOOD HOI~SS CORPORI~TION, ~t al, Case No. 86-519 CA 09. A certified
copy of such Orders have been filed with the Clerk of St. Lucie
County. According to the terms of such orders, all certificates issued
thereunder are, collectsvely, declared to be a debt of Donald Ricci and
his successors as Receivers, and to constitute a lien on all property,
real and personal, of Waterwood Homes Corporation, in the custody of
Donald Ricci, as Receiver, on the date of the Court Order or ~
subsequently acquired by Donald ~ticci, as Receiver, or his successors. ~
Such liens shall be a first lien and prior to any and a21 other liens
or claims on the property described in the attached 'LEGAL
DESCRIPTION•, except that said Certificate shall be junior to all
existingmoctgages on th~ ~rvperty, including the Mortgage of Erskine,
Tinkham and B~cheit @aLed ~-c:~ruaty 1, 1931 a~d tecorded in the Public
Records of St. Lucie County, -glorida O.R. I~o;~r 426, Pages 1272-127; and
the mortgage held by Ben Franklin Savings d-~:ed November 2, 1983 and
April 22, 1981 and recorded in the Public Records of St. Lucie County,
Fla, O.R. Baok 416, Page 860 and O.R. Bnok 353, Page I814-1822 as
stated in the Court Order dated
, I986.
This certiFicate shall not become obligatory for any purpose until
countersigned by the Clerk of the Circuit Court of the 19th Judicial
Circuit in and for St. Lucie County, as registar.
IN WITNESS WHEREOF, Donald Ricci has executed this certificate as
Receiver, but not personally, on , I986,
at
DONALD RICCI, AS RECEIVER
Countetsigned and registered on date , 1986,
by , Clerk of the Citcuit Court of
the i i for St. Lucie County, F1.
gao~ 50~ o~~E 959
DEPUTY CLERK ~
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