HomeMy WebLinkAbout2650 ~ ~ ~ ~
sawe proportion to the swa of $?2~0, 00 as the ~
~ number of aquare feet contained in the lot bears
to 43,650 square feet (one acrel.
All payments for releases of land shall be applied ~o the ma-
turinq installment of principal maturinq under the note secured here-
by. Payments made on account of the note secured hereby, where such
paya?ents are other than thoae which were made for the release of land,
shall likewise entitle the mortqaqor to receive releases of subdivid-
ed lots or acreaqe tracts computed in accordance with the terms above
set forth, except that release of tracts of less than ten (10) acres
each may be procured in con~2ection with the payment of an annual in-
stallment of the note secured hereby although the amount so paid on
such annual installment is lesa than the amount necessary to procure
a release of ten (10) acres of land.
The mortqaqee covenants and agrees with the mortgagor that
: the mortqagee will, from time to time, join in plats or replats (or
rezoninq) of unreleased portions of the property encumbered hereby. The
joinder by the mortqagee in any plata will acknowledqe, in effect,
~
: that the lien of this mortqage, as to dedicated portions, is subordi-
~ nate and subject to the plat or plats and to any dedications express-
ed therein, in all respects. The joinder by the mortgagee in any
plats shall not be deemed or construed as rendering the mortqagee
liable for the paving of any streets shown on the plat or plats, or
for any other obligations assumed by the mortqaqor in connection with
the said plat or plats.
II.
Except as modified by this agreement, all of the terms and
conditions of the mortqaqe and the note secured thereby are hereby
ratified, confirmed and approved in all respects.
IN WITNESS WHEREOF the said mortqagee does hereunto set her
~ hand and seal the day and year aforesaid.
. ~
Siqned, sealed and delivered 0~-~S )
C. PAULINE MINOR
,
e presence.
.
-4- a~K168 ~,~2644
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