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64
ST. LUCIE CO~Hn, FlA,
Buy~r may obtain partial releases after January 1, 1962, fr-om Owner dS
10 "80" acre parcels, by Nor~ Half or South Half of one quarter Section
legal deticription, upon the payment 'l)y Buyer to OWTler of sums on the prin-
cipal debt equivalent. to i~'O\t proportion of the then remaining balance of said
mortga~ debt as the acreage being released Le~rs to the acreage encum-
bered by said mortgage prior to such release. The privilege of partial
releases shall be suspended immediate upon any default by Buyer in the
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terms and covenants of said mortgage or the promi~sory note secured
thereby, AU costs in connection with such partial re\eases shall be at
the expense of Buyer, the same including but not limited to preparation
of the partial release and survey, should one be necessary, PaymE;nt for
partial releases shall be applied as the then last maturing installments on
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... tlie mortgage debt.
The order by which parcels sh~l1 be releaFed from the lien of
said mortgage shan be cc.nducive to the reteni.~0n by mortgagee of G, Irlort-
gage lien upon a compact, l.egularly shaped single parcel of land. And to
that end, releases ohall be grantable only flom the North or South ends of
the then remaining mortgaged premises. No release shall be granted, the
effect of which wouid be to create two separate parcels of remaining mort-
gage security.
The promissory note and mortgage deed shaa each provide a
grace period of thirty (30) days.
15. In the drafting of this agreement, the partiefl have recognize1
the existencE' of Purchase Agreement and Option Agreemer.t entered into by
Owners of the one part and Norman V. .Huff, et alof the other part, and
Contn.et of Sale by Owner with Edsall Groves, Inc., as Purchaser. The
part1~s hereto do l"eccgni~e the prior commitments of Owners by reason
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