HomeMy WebLinkAbout2654 ~ and ahall perform, comply x3Ch nrtd abide by each and ev.ery the ~
agreementa; ~tipul~tiona, oond~tiona ~nd covenanta thereol, and
or thia mortgage, the~ th3.e mortgage and the eatate hereby
created, aha~l aease, determine and be null and void.
The holder ot ~hia mortgage srali be obligated to
releaae property des3gnated by the mortgagors ~'rom the iien oP
thia mortgage a~d from thc ilan of the~Pruden~iai mortgage
referred to abeve upon receipt by aa~d hoider of paYment at the
rate of ~4,000 per acre ror praperty reieaaed; provfded, hoxever, .
~ that at no time shall the total pereentage or acreage released
be greater than the tot~l percentage road fro~tage released on
~ an aggregate of Parcels A and B. Tt is tuiderstood that When
~ property is released with a percen~age road Prontage leas than
percen~itge acreage rele~sed, then that ditferent additional road ~
frontage may be inciuded in subsequent releases up to the
~ percentage of acreage previously re3eaeed~
1
It is a.greed by the mortgagora that the eaisting citrus
! groves located on Parcel B shall be cared for and maintained in
,
~ ; accordance with the preva~3ing praatices used i,n St. Lucie County,
~ ~ .
~ ~ Florida. The mortgageea shall have the ~egal right to inspect
i ~ the groves at any time and request proper care, and should
i
, the mortgagors not provide proper care, then the mortgagees ahall
have the r3ght to enter upon Farcel B and do such Mork as is
needed at the expenae of the mortgagors. It is agreed bq the
` mortgagees that the mortgagora shall not be required to replace
any trees that need to be removed from P~trcel B. This maintenanc
~
clauae shall ceaee to exiat after seven yeara. ~
Thia ia a purchaae money mortga?ge.
~ Not~?3thatand3ng any proviaion to the contrary herein,
~ the pcraonai 13abiiity of the mortgagora_ia li~ited bv the
~
provis3ons of the Mortgage Note, includtng the prov3sions thtreof
atat3ng that the eacurfty ahall ba the aole recourse of the holde
of the note Mith reapect to the indsbte~dr~es~ regrea~~~•d by the
,t ,
.
- 4 - , ~
~z~~~.~v _ _ _ _ _F ~4__..~..~~.__ . -