HomeMy WebLinkAbout2248 RELEASE CLAUSE ~ ~
It is agreed between the parties that the mortqaqors may subdi-
vide and plat the mortqaqed premises as a Travel Trailer Park and re-
lated facilities and the Mortqagee aqrees to join in such plat. Sa.id plat
sYia.ll conform to the Plat La.ws of St. Lucie County, Florida, and shall
contain not less than I91 Iots in the Southerly 800 feet of Paxcel #2. The
Mortgaqee will execute and deiiver Partial Releases of~ individual lots in
Southerly 800 feet (as measured aionq Sta.te Road A-1-~ of Parcel #2 to
the Mortgaqor upon payment of the sum of Three Hundred (~300. 00)
Dollars for each lot so released. The Mortgagor will release the North- ~
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S
erly 600 feet of Parcel #2 in contiguous strips of 150 feet in width as -
measured along Sta.te Road A-1-A running from S~uth to North beginninq
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at the South line thereof upon payment af the sum of ~Z1, 250. 00 far each
strip so released. Parcel #3 shali be released. upon payment of the sum of
~38, 200. 00. Parcel #1 shall be the last parcel under this mortga.ge to be
released. AIl payments on principal sha11 apply toward Partial Releases. ~
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Fil.EO ANd RECOROED ?
~T. I.UCIE COUNTY. FLA, `
RFCORD VERIFIED '
W. R. SCO7T • . C~~~i"~" " .
wrraeN~r ~s u?w ~p~ A~,V 1 6 W'i ~ ~ s
y~ ~o~~ 15915'7
iTUART. /LORIDA
ii0vE?% ~'OITR:.S
. CLERK CIRCUIT COURT
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