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ST, LUClf C'IIN~r. =-:..\,
(d)
The mortgagor shall pay to the mort~agee the 5um
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of Two Hundred Twenty-Five ($225.00) Dollars per acre for such
release. However" the payment of One Hundred Ten Thousand Dollars,
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I ($110,,000) which is the down payment for the exercise of the optio~
I shall not be used in computing any payments to release any acreage
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I from the terms of th~ mortgage. It 1s agreed that acreage will be
II released as payments of the princip_al are made under the terms of
I the purchase money mortgage j (all prine lpal payments credi ted to\'.;&rd~
I releases) j
. (e) Acreage to be released from the terms of the
'Imortgage shall be in multiples.of 320 acres at a time.
'I (f) In order to obtain a release upon the making of an
advance payment of principal" the mortgagor must pay all interest
'that would be due on the entire unpaid balance of the mortgage at
the ti(TI_e~()f making the next regular installment payment.
(g)
The mortgagor shall pay such reasonable expenses
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prepara tienl
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as are incurred by the mortgagee in connection with the
IOf such releases" including without limitation, the costs of any
surveys and legal fees.
4.
Upon the exercise of this option" Purchaser shall give
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to Seller written notice delivered personally or by Registered Maill
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the Purchaser by the Seller" that the Purchaser is exercising this I
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a cashier's check drawn on a National bank doing business in the I
state of Florida at the time in the sum of One Hundred Ten Thousandl
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I Dollars ($llO"OOO.OO). I
On or after ten (10) days after receipt by the purchaserl
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at the above address or any such other address as ffiay be given to
option and such written notice shall be accompanied by Gash or by
of this notice and cash or cashier's check" as aforesaid, an Ab-
stract of Ti~le to said property shall be furnished and delivered
by the Seller to the Purchaser, his agent or attorney. The
Abstract shall be certified to a date subsequent to the date of
the notification. If the Abstract evidences good and marketable
title in the Seller subject only to the mat.ters set forth in
Article I hereof, th~ transaction shall be closed at the office of
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