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HomeMy WebLinkAbout0266 ~ 10~039? PARTIAI, RELEASE OF MORTGAGE ~ t AND RELATED DOCUMENTS WHEREAS, BARNETT BANK OF MARTIN COUNTY, N.A., (hereinafter referred to as "Mortgagee"), is the owner and holder of a certain Mortgage and Security Agreement (hereinafter referred to as "Mortgage"), dated March 21, 1989, recorded in Official Records Book 629, Page 991, Public Records of St. Lucie County, Florida; and WHEREAS, the above refer.enced 2~Iortgage was executed by Harbour I Ridge, Ltd., a Florida Limited Partnership, as Mortgagor, ' (hereinafter referred to as "Mortgagor"); and WHEREAS, Mortqaqor has requested Mortgagee to release the premises hereinafter described, being a part of the mortgaged premises, from the lien and operation of the Mortgage. NOW, THEREFORE, Mortgagee, in consideration of the premises and the sum of Ten Dollars ($10.00) paid by Mortqagor at the time of execution hereof, the receipt whereof is hereby acknowledged, does remise, release, quitclaim, exonerate and discharge from the lien and operation of the Mortgage, the land and improvements to the extent that it is part of the property encumbered by the Mortgaqes described as: ~ E UNIT 1-7, (the "Unit") of RIVERSIDE VILLAGE, A CONDOMINIUM, ~ (the "Condominium") according to the DECLARATION OF CONDOMINIUM ~ thereof dated March 3, 1988, and recorded on March 3, 1988, in E Official Records Book 577, Page 1194, Public Records of St. Lucie County, Florida, (the "Declaration of Condominium"), i together •~aith the undivided share of the COIrII~iON ELEMENTS of the ~ Condominium declared in the Declaration of Condominium to be ~ appurtenant thereto; together with all appurtenances thereto, i including, without limitation, the right of exclusive use of ~ those areas, spaces or portions of COMMON ELEMENTS of the ~ ~ Condominium, declared in the Declaration of Condominium to be ; ~ LIMITED COMMON ELEMENTS of the Unit (the "Property"). ~ 5 3 ! ~ TO HAVE AND TO HOLD the same, with the appurtenances, to the Mortgagor freed, exonerated and discharged of and from the lien of ~ ~ the Mortgage, and every part thereof to the extent that it is a ~ ~ part of the property encumbered by the Mortgage, provided, that ~ ~ nothing herein contained shall in anywise impair, alter or diminish ~ the effect, lien or encumbrance of the Mortgage on the remaining ~ part of the property encumbered by such Mortgage, not hereby ~ released therefrom, or any of the rights and remedies of the holder ~ hereof. ~ ` This instrument shall also operate as a partial release of ~ Mortgagee's security interest in the property described in that ` certain Financing Statement recorded in Official Records Book 629, ~ Page 1008, Public Records of St. Lucie County, Florida, to the ° extent that the property described in the Financing State~ent is part of the property hereby released. This instrument shall also operate as a partial release, as to the property released hereby, from the terms and provisions of that certain Collateral Assignment of Rents and Leases recorded in Official Records Book 629, Page 1001, and from the terms and provisions of that certain Cross Default Agreement recorded in Official Records Book 629, Page 1006, all Public Records of St. Lucie County, Florida, to the extent that the property described therein is part of the property hereby released. [ ~ IN WITNESS WHEREOF, Mortgagee has caused these presents to be executed in its name and its seal to be affixed by its proper B~J~I( V7~ FAGE ~ _ _ _ _ '-°~,~~z,'~,~:r~ ~-,~n-e`~:~ ~ ~_~r.-. ~ - ~ ~ .