HomeMy WebLinkAbout1649 Tl~at in tha event it becoaee neoesaary to enforce
any oi the aortgagee, together Rith the mtee that they eeoure
referred to in the ~oregoing paragraphe, snd that the partiea
hereto purche.ee eaid property at the eale thereoi (i~ one
ba bd) then it ~s agreed that ltAR81 I. BARx ahall aonvey by
qnit claim deed the eaid property to B~RRIS COa8TRIICTI08
CORPORiTI01f, upon receipt ~ros it oi a eecond aortgage in
the cnetoaary iorm eecnring the same aaonnt dne ae wae due
on the pr~ioue eecond mortgage eo eniorced and eecaand only
to the eziating ~'~'R3T FSDERIL YORTGAG~ thie dai~ enaumbering
eaid property. T2~t the purpoee c! tHs paragraph ie desig~ed
to allow a eubetitutioa of collateral and at the eame tiae
inenre that the collateral ie oi the eame quality previonsly
accepted by the eaid l[AaNA I. B>RR. -
That the privilege oi subetitution oY eecorul mo~agee
is hereby given p'ROYIDED that the eo~teral oi the s ubetituted
mortgage is reaeonable and P'80VIDED FORTHER that all coste of
subatitution be borne by the party eeeldng the eubetitntion.
That this agreement is bindiag upon the heirs and
succeeeors and aseigne, of the partiee he reto and that tiae ie
of the essence in thi e agreeasnt.
I8 11ITAffiS XH~SOF, the partiee oY the first part have
cauaed the~~q,~preeente to be easottted in their names, on
thi e the~ day oY July, A. D. 1966.
HARRI3 COBSTRIICTION CORPORATIOA
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BY ~ ~ (SBAI,)
~ l/illisua~ 1/. Ha , d t
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an]clin A. 8arri ~.•~,K .r•~Tr~
~itneeeee as to Harria . : ~
~ . . .
Conatrnction Corporation, ~ ~ , ~
1~"ranklin A. Harrie, et uz. g -
am rr ~c~ :
and ~illiam 1/. Harris, _
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a er e. arr e
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~ l[araa I. Barr
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witneas~e as to lLarns I.
Barr.
?~iiLIP G. NOURSE
x~?ORVEY AT uw
~33-n r~OFTN FOiJATX
~ P'.ERCE. FLORIDA
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