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- pAID, pLSO SUBJ~T TO fihst certaia deed froe
the graator herein to the Trustees under the
said Cooperative Improvement and Ttust Agreement
~ihi ch said deed is recorded in Official Re~ord _
Book 36, at page 57?, public records of St. Lucie
~ County, Fiorida. .
and
i~diERBAS, Schu]~tz has assumed and agreed to pay fihat proportion ~
of the unpaid principal balance and accrued interest on said
m~r tgage, computed by dividing the unpaid principal balance and
accrued interest thereon by,641.3 acres~, multiplied by 155.88 acres, ;
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P .and s
~ WHPRBAS the arties hereto desire to and have agreed to ~
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m~dify the terms and condifiions of said mortgage, as hereinafter +
set forth. '
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W I T N S S S B T H: ~ -
That for and in the consideration of ~10.00 and other good ~
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and valuable considerations, paid by the lRortgagor to the Mortgagee~
r.eceipt whereof is hereby acknowledged by I?brtgagee, Mortgagee
covenants and agrees, as follows: -
1. Thafi any default in the payment of that part of said
mortgage not assumed by Schultz shall not be a default fihereof as
to the lands last above described, unless Schultz shall also default
in the payment of that part thereof assumed bq him. In the event
the Mortgagor defaults in the paqment of that part of said
mortgage nat assumed by Schultz, a.nd Schultz sha.ll not be in default
of that part thereof assumed by him, Mortgagee wi11. accept paymeats ~
~ of that part thereof assumed by Schultz, and at such time as Schnltz
shail pay aii of that part thereof assumed by him, 1Kortgagee will ~
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release and discharge frnm the lien of said Mortgage the lands last i
above described. -
~ ~ ~ 2. Schultz is hereby given the right and privzlege to secure
Partiax Releases from the lien of aaid ~lortgage on the laads last
~ a'bove described in tracfis of not less than Thiriy-eight (38) acres
, each, upon the payment of that proportion of said Mortgage deter~ined t
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