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HomeMy WebLinkAboutWyman Fields Partial Release of Mortgage Lot 1, Block 5Prepared by: City of Winter Springs Attention: City Manager 1126 East State Road 434 Winter Springs, FL 32708 PARTIAL RELEASE OF MORTGAGE (First Closing of Month) KNOW ALL MEN BY THESE PRESENTS: WHEREAS, WYMAN FIELDS FOUNDATION, INC., a Florida non-profit corporation, whose business address is 207 N. Moss Road, Suite 105, Winter Springs, FL, (hereinafter called Mortgagor), by Mortgage and Security Agreement bearing date the 10`h day of May, 2000 and First Amendment to Mortgage and Security Agreement dated the 13"' day of November, 2000 and recorded in the office of the Clerk of the Circuit Court in and for the County of Seminole, State of Florida, in OR 3852, Page 1837, and OR 3968, Page 578 respectively, mortgaged unto THE CITY OF WINTER SPRINGS, FLORIDA, a Florida municipal corporation, whose address is 1126 E. State Road 434, Winter Springs, FL 32708 and assigns, (hereinafter called Mortgagee), the premises therein particularly described, to secure the payment of the sum of Nine Hundred Nine Thousand Six Hundred Fifty-Five and 00/100 Dollars ($909,655.00) with interest as therein mentioned; and WHEREAS, the said Mortgagor has requested the Mortgagee to release the premises hereinafter described, being part of said mortgaged premises, from the lien and operation of said Mortgage; and WHEREAS, the premises hereinafter described is being sold by Mortgagor and is the first sale of the month of properties encumbered by Peoples First Community Bank's First Mortgage and the City of Winter Springs' Second Mortgage; and WHEREAS, as the first sale of the month, the City of Winter Springs has agreed to this Partial Release of Mortgage, without additional consideration, in accordance with the terms and conditions of that certain letter dated May 17, 2001 to Mortgagor from John L. Gioiello, Esquire, Attorney for Peoples First Community Bank, First Mortgage Holder, ("Letter of Agreement"): NOW THEREFORE; KNOW YE, that the said Mortgagee in consideration of the mutual promises and conditions set forth in the Letter of Agreement, hereby, does remise, release, quit-claim, exonerate and discharge from the lien and operation of said mortgage unto the said Mortgagor, its heirs and assigns, all that piece, parcel or tract of land being a part of the premises conveyed by said mortgage, to-wit: Lot 1, Block 5, MOSS COVE, Tract C, Plat Book 54, Page 85 Public Records of Seminole County, orida (Street Address: L09 Kristi Ann Court) -1- TO HAVE AND TO HOLD the same, with the appurtenances, unto the said Mortgagor, its heirs and assigns forever, freed, exonerated and discharged of and from the lien of said mortgage, and every part thereof; Provided always, nevertheless, that nothing herein contained shall in anyway impair, alter or diminish the effect, lien or encumbrance of the aforesaid Mortgage on the remaining part of said mortgaged premises not hereby released therefrom, or any of the rights and remedies of the holder thereof. IN WITNESS WHEREOF, the said Mortgagee has caused these presents to be executed in its name, and its corporate seal to be hereunto affixed, by its property officers thereunto duly authorized this day of 2002. Signed, sealed and delivered in the presence of ~~~ Print Name ~a ~ c.4 R I 1 c ~ *~ 0 Print Name: ~, ~f"L~ EI.G ~ STATE OF FLORIDA COUNTY OF SEMINOLE THE CITY OF WINTER SPRINGS, FLORIDA, Ronald W. McLemore City Manager The foregoing instrument was acknowledged before me this 1~ day of ~~ 2002 by RONALD W. MCLEMORE, City Manager of the City of Winter Springs, on behalf of the City. He is C3persvrtally known to me or ^ who has roduced as identification. ` p ~. Notary Public `..°.,"""~.'""w" Print Name: ~.~--t~~~ (Seal) AN©REA LORENZO-LUACES MY COMMISSION # GC 831931 My Commission Expires: EXPfRES: May 9, 2003 1•.8043NOTARY Fle. NOts3ry S9fviCB & Bondirp CO. ~2-