HomeMy WebLinkAbout2649 •
Mortqaqee shall release unplatted parts or portions of the pre-
mises (which have not already been excluded from this mortqaqe)
from the lien of this mortqaqe on the followinq tenas and condi-
tions:
(a) The Northerly 1800 feet of the encumbered premises
may be released in parcels of not leas than 10 acres each
com~nencinq in the Northwest corner of the property encumber-
ed hereby and shall run from North to South in ~ntiquous
parcels, square in form whenever possible. Such releases of
land shall be qiven upon payment at the rate of $1645.00 per
acre.
(b) That portion of the encumbered premises less the
Northerly 1800 feet thereof may be released in parcels having
an $ast-West dimension of not less than 100 feet as measured
perpendicular to the West property line~of the encumbered
premises and havinq a North-South dimension extendinq from
" the water line of the St. Lucie River to a line which is 1800
feet Southerly of the North line of the encumbered premises.
,
Such release of land shall be qiven upun payment at the rate
of $ 6000.00 per acre.
Notwithstanding any.,default which may exist from time to time
'i as to any provision or covenant of this mortqage or the promissory
~
note which it secures, individual platted lats as delineated and ~
depicted on a subdivision plat duly recorded among the Public Re- ~
cords of St. Lucie County, Florida, shall be released from the lien ~
k
F
of this mortgaqe on the followinq terms and conditions: ~
;
F
(a) Individual platted lots which are situated, in whole ~
i
or in part, within the Northerly 1800 feet of the encwabered
premi.ses may be released upon payment of a sum which bears the
~ same proportion to the sum of $2,a00.00 as the number of square
~
feet contained in the lot bears to 43,650 square feet (one acre).
(b) Individual platted lots which are situated entirely
within the encumbered premises less the Northerly 1800 feet
' f
thereof, may be released upon payment of a sum which bears the '
_
~ -3-
;
sooK168 ~2643 - - ~
_ _ _ _ o _ _