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PARTIAL RELEASE OF MORTGAGES AND
SECURITY AGREEI~'~ENTS AND
PARTIAL RELEASE OF UCC FINANCING STATEMENT
•KNOW ALL MEN BY THESE PRESENTS:
WHEREAS, TWENTY ACRES, INC., mortqagor, by Mortgage and Security
Agreement, bearing date the lst day of August, 1984, and recorded in
the Office of the Clerk of the Circuit Court, in and for St. Lucie
County, State of Florida, in Official Records Book 439, at Page 1900,
mortgaged unto FIRST NATIONAL BANK & TRUST COMPANY of Stuart,
Florida, and assigns, mortgagee, the premises therein particularly
described, to secure the payment of the sum of $500,000.00, with
interest as therein mentioned;
AND WHEREAS, TWENTY ACRES, INC. entered into a UCC Financing
Statement filed on the 3rd day of August, 1984, and recorded in the
office of the Clerk of ~he Circuit Court in and Yor the County of
St. Lucie, State of Florida, in Official Records Book 439, at Page
1915, in favor of FIRST NATIONAL BANK & TRUST COMPANY of Stuart,
Florida, and assigns, covering the premises therein particularly
described, to further secure the payment of the aforesaid sum of
$500,000.00, with interest as therein mentioned;
AND WHEREAS, TWEN'1'Y ACRES, INC. , mortgagor, by Mortgage, bearing
date the 15th day of January, 1987, and recorded in the Office of the
Clerk of the Circuit Court, in and for St. Lucie County, State of
Florid"a, in Official Records Book 528, at Page 933, mortgaged unto
FIRST NATIONAL BANK & TRUST COMPANY of Stuart, Florida, and assigns,
mortgagee, the premises therein particularly described, to secure the
payment of the sum of $200,000.00, with interest as therein
mentioned;
AND WHEREAS, TWENTY ACRES, INC., mortgagor, by Mortgage, bearing ~
date the 24th day of October, 1988, and recorded in the Office of the
Clerk of the Circuit Court, in and for St. Lucie County, State of
Florida, in Official Records Book 608, at Page 2902, mortgaged unto
FIRST NATIONAL BANK & TRUST COMPANY of Stuart, Florida, and assigns,
.;~or~gage~, ~he pre:nises therein particularly described, to secure the ~
payment of the sum of $200,000.00, with interest as therein
; mentioned; i
; ;
I AND WHEREAS, TWENTY ACRES, INC., a Florida corporation, has
~ requested the said FIRST NATIONAL BANK & TRUST COMPANY of Stuart,
Florida, to release the premises hereinafter described, from the lien
~ and operation of said Mortgages and UCC Financing Statement:
Q
' NOW, THEREFORE; KNOW YE, that the said FIRST NATIONAL BANK &
TRUST COMPANY, as well in consideration of the premises as of the sum
~ of $10,000.00, to it paid by the said TWENTY ACRES, INC., a Florida
corporation, at the time of the execution hereof, the receipt whereof
is hereby acknowledged, does remise, release, quit-claim, exonerate
and discharge from the lien and operation of said Mortgages and UCC
Financing Statement unto the said TWENTY ACRES, INC., its successars
~ and assigns, all that piece, parcel or condominium unit, being a part
~ of the premises encumbered by said Mortgages and UCC Financing
~ Statement, to wit:
~ COND~MIt.It1M UNIT C, of Building 25, CAMFT.nT GARDFNS
~ CONDOMINIUM, PHASE 12, a Condominium, according to the
~ Dec~aration of Condominium of Camelot Gardens Condominium,
` and all exhibits attached and forming a part of said
Declaration, as said Declaration is recorded in Official
Records Book 374, Page 923, St. Lucie County, Florida
public records, as amended. The above description
includes, but is not limited to, all appurtenances to the
condominium unit above described, including an undivided
interest in the common elements of said Condominium as set
; forth in the aforesaid Declaration of Condominium.
i
~ [24/camelot/>/011290]
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~ This instrument prepared by:
~ AVRON C. RIFKIN, Esq., 2400 S. Federal Hwy., 4th F1., Stuart, FL 34994
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