HomeMy WebLinkAbout0923gu~ic 2 31~
ST, ~UCIE C~~NTY~ FLA.
Rffi.EASB pRpVISION
So long as no default exists as to any provision or covenant of
this mortgage or the promissory note which it secures, the Mortgagees
shall deliver a partial release of the mortgage for the following
described parcels of property:
(a) Beginning 30 feet south and iuG.S iced west ~f
the Northeast corner of the SW~ of the NEB of the NWT of
Section 8, Township 35 South, Range 40 East, run West
50 feet to the point of beginning, thence 150 feet to the
e East right of way of Ang)e Road (80 feet wide), thence
Southeasterly along said East right of way of Angle Road
150 feet, thence Northeasterly in a straight line to the
point of beginning (as shawr- by that portion of the
attached copy of survey which is shaded in red pencil),
when payments of the principal amount of the promissory note total
„--_- -
$12,000.00 (by prepayment or through payment of the 1n8L311."Ii~I:L3 s$
such become due.)
(b) The remaining portion of the property adjacent and
fronting on Avenue "D" or the remaining portion of the
property adjacent and fronting on Angle Road, together with
one-half of the adjacent total area remaining encumbered by
the mortgage,
when payments of the principal amount of the Yrnmi~sory note total
$14,250.00 (by prepayment or through payment of the installments as
such become due.)
If the releases are secured by prepayment,•then such prepayment
shall be applied to the maturing installment or installments of
principal maturing under the note secured hereby.
The Mortgagor agrees to pay such reasonable expenses as are
incurred by the Mortgagees in connection with the preparation of
such releases.
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