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HomeMy WebLinkAbout2190 . . _ . . . ~ . . . . _ _ . . ~ _ . . . . ..y. ~j, ~ . : . . , . i ~ ~ ' -i~0~ ~ , , ; ~ ; ~ y. ,~~N,! . ~ FlL ~ A ~ FECO DEO ~ ~ , . : ~ . • al ~ • ..~~~lLllel~~ ~ . # . . ~0 ~ ~ . . OK I , ~cr. ~ i964 APR 17 Pi~ 2: f 4 ' ~ ~ ` . ~ ~ . ~ ' i~*.~x~,vms~ ~wso: ' cROGER POITRAS. CIERit ~ ' ~ . T. IUCIE COU-NTY," FLORlDA ' ; . s ~ 1, At anytiaie the l~brtgagars are not in default under ; the terms and conditfons of thle mortqage or the note aecured ; ~ ' thereby, the MR~rtgagore ~y obtain from the l~o~ctgageea, and the i Mortgageea by accepting this`mo~rtqage and the note aecured there- ; ! by agree to deliver partial releases fraa time to time of the , 1 ~ mortqaged premises on the.follawinq terme and conditione: ~ , ~ ~ E ; A. The-prem3.ses remaininq under the mortgage lien ahall i be a contiguoua and reaeonably uniform shaped parcel of land. ~ ~ ~ _ . ~ ' ~ B. Upon the planting of citrus in not~lese than thirty ~ i ~ .(30) acre parcels in accordance with prevailing practices, the ~ ~ lfen of such mortgage may be released, at_the election of the ~ i ~~Mortgagors, either as to a like number of unplanted acrea, or ~ one-half of the acreage so planted. ! . ~ I . . C. IIpon the sale or conveyance, of a part of the mort- ? ,qaged premises, Mortgagees shall accept a purchase money mortgage ~ grantee or pvrchaser in aubstitution of the ini-. j and note from the tial mortqage to the part so aold~or conveyed; except for the amount ~ of~the new mortgage note which shall not exceed a~ewa equivalent to ~ the then allocable original nwrtqaqe debt upon an acreage basis and the amount of the inatallmente of principal which shall be in such j sum as to retire the new mortgage note of the identical schedule as i ~ that of the original note,~all other~terms and conditions of the new note and the mortgage securing same will ]~e identical with the - original praauissor-y note and mortgage. Upon ~eceipt of such new . mortgage note, each remaining installment due under the original j - note shall be credited with the amount of the correeponding install- I_ ~ ment to mature.under the new note. Said hew note and mortgage shall i be at the expense of the awrtgagor, including intangible tax, docu- i mentary_stampa, recording and attorney's fees of the mortgagees. ~ # D. For any sume prepaid upon the mortgage debt, 1Kortgagees: i . (1) Shall apply such prepayment to such unpaid install- ; ment or i.nstallments on the mortgage note as the M~rtgagore shall ~ designate, or E ~ ' . ' ' (2) Shall apply same to then last maturing installment ~ . ~ ~ and thereupon shall release from the lien of such mortgage euch . ~ ~ j acreage as Mortgagore shall designate. Z'he nwaber- of acres so re- j leased shall not exceed the amount of auch prepayment divided by ~ ~ the then dollar lien per acre upon the acreage subject to the mort- ; ~ . gage. In determining~the acreage to be relea8ed or remortgaged, ` , under the above provi.eions,- one planted acre shall be deemed to~be ~ ; . equivalent to two unplanted acres; and no releaee of mortgage shall be made except with the consent of the Irbrtgagees as to lese than ~ twenty (20) acres in any transaction. No releases of mortgaged premiees shall be required without the consent of the Mcrtgageea, ~ if auch release divides or separates any part of the premfeea re- - ~ maining-subject to the lien of mortgag~ from the remainder thereQf. ~ _ ~ ~ 2, Yoib abt dye date after April 5, 1965,.the M~ortgageee r agree to extend the paymenta due under this m~rtgage and the note ~ . it eecures for a period of-one year, this to appl~~to principal ~ payments only. ~ ~ ' . ~ ~ ~ { . ~ . . - . ~ - . ~.~~x ss ~s~ ~ . ~ ~ _ ? ~ • `~`~u?w o.nais. or. ~o.s~e. ~ Ro~e...o~er.~Ras. n.o~? . . . .