HomeMy WebLinkAbout1868 4 ~ • ,
; ~ '
~ • .
[ .
~ PARTIAL RELBASE PROVISION: . .
Tbe Mortgageea grant-unto the Mortgagor the follo~ing releaee
privileges, aad in connectian therewith, agree to execute and
, delivez unto the MQrtgagor as and when he bas camplied orl,th the. ~
provisions of this xelease clause, properly eaecuted Partial
; • Releases of this M~rtgage, ~ tliat is, to-wit : .
l. The Martgagor shall be entitled to bave a~nd receive
Partial Releases from said Purcbase Maney M~ortgage, re-
leasing tracts of said land from the liea thereof, of
not~less.thaa forty (40) acres each, upon the payment of :
a sum equal to the total vapaid principal balaace of note ;
~ , and ~portgage, divided by the total number of acres re- '
maining vmder the lien thereof: All payments made for
the partial releases shall be applied to the next maturing
. payment or payme~ats of intexest or principal. Provided,
~ hawever, that the holder of said note and mortgage shall
; reserve from said lands released, aa easement 20 feet in
~ ~ W3.dth for the purpose of access to and from any parts of
~ said land not released from said mortgage. ~hat said
~ access easement shall be to and fram a road to be can- ~
strwcted alang the East bovndary of the laads hereby con-
; tracted to be sold, and ahall be in a straight line. The ~
_ partial releases herein provided for shall be cvmmulative.
- .
. -
~ ~ ~ ~ i
.
~ . ~
t •
~ .
~ .
4
i
t
1
( .
J1 ,
[I
` w "
. ~ . ~ • ~ '