HomeMy WebLinkAbout0007 ~~.~~.~,~Lt, & ~,~v.tcgt, P.a. 1021635
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-r~s Insirument Prepared by: "~T B. l~OLZ, E5QUIRE ~ (1 n~~ ~"~y ~'~~k
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BL.AClCZ~TELL & WALdCIIt , P . A . ;
740 Colorado Avenue, Suite A ~
Stuart, Florida 34994 ~
SPACE AlONE THI$ UME FOR PROCE557M8 Q~TA SPACE AlOVE TMI$ LIME FOH RECORdNp WTA
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I:.YPf1lIP~ t~P a~-..~~ ~{Qy oJ JAI~UARY r1. D. ~9 90 by
QUAIL I~, INC., a Florida corporation,
hereina(I~r c•~~~pt~ t~~~ morfgagor, fo
I~]~IDIIt, II~. , a Florida coz~poratiori,
{~ernina~tar ca~~P~~ t{1P RIOII(~(1(~PP:
IN'herr.ar uud Aercin ~ht urw ''mortRator" anc~ "mort~agee" include all the putin to tAis irotrumeat and tAt 6ein,
ieRal reprrxnuti.es and assiqm o( individwb, and tAt wcceax~n and aasitns o( curpontiom; aod t~e term "note"
includrt aU the nut~s herein tkecribed i( morc than one.}
~itnesseth~ that Jor good and vnlua6le consideralions, and also in considerafion o~ t{~e aggre-
gate sum namecl iri Ihe promissory note o~ even date herewith, hereinaf ter described, the mo~lgagor here-
6y granfs. 6argains, sells. aliens. ?emises, conveys anc~ con/irms unto !he mortgagee all the certain Ianc~
o/ u~h«h the mortyac~or is now seized and in possession siluate in St . Lucie County,
t'~oric{a. ~~iz:
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; Lot 19, Block 1281, PORT ST. LOCIE SECTION TfeTELVE, according to
; the Plat thereof, recorded in Plat Book 12, pages 55 and 55A
' through 55G, public records of St. Lucie CounLy, Florida.
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' THIS IS A PURCHASE MONEY BALLOON EIRST MORTGAGE.
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~ THIS MORTGAGE AND THE NOTE IT SECURES SHALL BE PAID IN FULL NO
~ LATER THAT ONE (1) YEAR FROM THE DATE HEREO~. IF WITHIN ONE (1)
! YEAR, MORTGAGOR OBTAINS A CnNSTRi)(`TT(1N T.~l1~tv F'Rn~n atU TATCTTTf1TT/lA7Ti
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~ LENDER, MORTGAGEE SHALL SUBORDINATE THIS MORTGAGEvyyTOajSAID
; CONSTRUCTION LOAN.
~ IE MORTGAGOR SHOULD CONVEY THE PROPERTY HEREIN DESCRIBED, OR ANY
PART THEREOE, WITHOUT THE WRITTEN CONVENT OE' MORTGAGEE, THAN AT
~ THE OPTION OF THF. MORTGAGEE, MORTGAGEE MAY DECLARE ALL SUMS OE
~ MONIES SECURED HEREBY TO BE IMMEDIATELY DUE AND PAYABLE.
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THIS MORTGAGE AND THE NOTE IT SECURES ARE NONRECOURSE AS TO THE
MORTGAGOR. MORTGAGEE AGREES THAT IN THE EVENT OF A DErAUL1,
RECOURSE MAY ONLY BE SOUGHT AGAINST THE PROPERTY HEREIN
DESCRIBED.
~'TATE G~ ? l_OR1D~'~ i
' OC'.lMENTARY/~-•;=,:STAMF tA; i
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60011 ~7~ PAGE QO~
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