HomeMy WebLinkAbout2377~~ ~ i
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`.T. ;ti~lE C~lti~~. Pik.
KIGtEf+ to ttzat certain t~f)kTG~;l? lr~.~i} dar.~:d t~i€s~,~ csrzy
cif flay, 1962 bst:~~en Jarr~s W. Ficr~iety and I~aE~or€at:
l'1Uwaty, h.r,sband and wif€s, as MortE~agor.s, ~sid tto~ard
Yc~ur€re rzrad r~rrea 1` . ': c>uree , husband slid ~i.fEz , a.a
rlortgageE~a, cov€srirag cartsi_n pxopertiE~e lvcat.c~d in
5ect.inn 33, Towrrsiti-~ 3G Sor,rth, ~.nng€~ 38 East, .
~;t , I.uc ie Count}• , Florida .
1, ^,o brat, as tt~e t:4ortg~ag,orr~ are net in default under thf.
t~rrus ar:i co::dition~ of this rnortg«ge or tF;e note secured heret~y
thc~ Mort~;agot e trxay obtain frog; the tiortga:geee, s.nd the Mortgdg,ees
by at•:c.pting this mortgage and the note secured thereby agree to
dNli.-e3•, t;art{ai relecrsc~s fron. tis~ Co tirr~ of the R~~rt~agE:ci
t~~r.i,u:i£.t~=s on C.hc~ following terms xr,d conditiont~:
f~. The r~remiaea rer,uzini:,g unr~r~r the rr,ort.bagE lien shall
continue to be a contiguous anti reasonably uniforcr; r~taa;:ed
r~arct~l of land to ~, i.ch a n~ar:P of ingress sect egress will.
be r.,ade available to the Mortgagees by such instrurr,ent as
tt;e oartiee loam. nec€:saary to afford a purchteeer at a
foreclosure salt: with fi rllf'£3I18 oz in~;rPSg and egrESS to aitc
f x o:r the r;sr~ , ~.nd drr~lnage ri.~;ht-af -way .
Ii, i!i~vn the f~l_anting to citrur~ cf not less than ort}° (4~~)
~a_~re s~~,z•celta ir; acc•ordance T.aitti prevailir~,g pr ac i.i-r_es, tt:t
lien of stact+ mortgage shall be released, at tt~e alec~ti.ar: ;,{
tt~e: Mor. tgagoz a , eithcx- as to a li~:e ?lirrr)F.>er of ur.plar:te:~c
acres; or one-half of '-tie acreage £ao l~lantc:d.
C . lipc;n tt;e scale or conveyance , fro~z; t.in~ tc time , of a
part or parts of the morC.gat;ed frz~Emises, t`tortgagees shall
accept a purchase nx3ney rr:ort.gage and note from the grantf°f:
or purchaser i.r; pubFltitution of the. initial mortgage as to
tt:e part or. tarts r~o sold or conveyed . Except. for the
amount cf tine new nx~ri.gage note whictr stall r.ot: exceed ~a
sort: ectui.valent to tt,e then rallocsble original mortgage debt
:~por~ :-an acreage basis and the arr~aunt of th€ i.Llsi:~alLmertt8
of print i.pal ~~at-rich shall. tie iri such sure as to retire: the
nt~w rrR.~z'tgage note on tt~e. identic-al eels=_=dt.1~ as tt,at of the
origi.n£al no[e, all other tenors and cor:ditiorts ~~,i the nc~~
note and tt;e trr~rt~g~age securing Sa:rrs will be identictal Britt,
the ori`i.na1_ prarr,isaory raot.z ar~ci rrx~rtga.gQ. Upon receir~t
1,.~f .suet; note r~rtyagca note , ea~cta rc_=.i~ining it=stag lrr~nt due
und~ t:he ori.yinul note staall be credited with; tt:e an?CJi~r:t
ol,.=~~t;f~ corrrraponding, inLtallr.}ent to rnatu7-c: undc~F the ne;~
1nit.ialec, i~_.r ""r~otE .
-~ = _; . ~'ot any suns F:reprzid uti~tt tt:E: mortgage debt , ciortgagE-E: £~.
~--~ ; ~ ~ ehal.l apply s~uct; prepa.yn,ent to a-_rch unpaid instal li;~rt
,''"~'--- - oz ir;st.s~lln;ents of tk;e rrortn«~€~ note ae t;t~€: t~iortgagors she-l i
cleaignete , or_ (2) shall «pply atirr~ to the tt-era l.a5t rr~turi.nY,
i,nst_allrr~nt .zrtd ti:er_Qr,pon shell. relr~a£se fresrn the l.i.€rn of
suet-: mortgage, suLtr acrgaga as tiortgAgora staaall ddt,igriatl~.
Thy nurr.•t3PZ' of scree eo colts«e~:d, a't;all not exc_ec;d t~rE: arr~un[
of. s~.t:h pref.,eyr,~nt divided by th€ tt:an do' laz~ lien per dc,r_,~
.:tors the: acr.eave subj€rct to t.hca cr~:rtgtage. 1:; cl€tez•rr,inin~;
t-t;c~ ac~Yc:a¢,e to t~j~ releasc:c' or rerr3ortgagec? , ~:;-rde:r the abc~vti.