HomeMy WebLinkAbout0718 ; ~ " ' .i ~
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8. Tho Hortgageo ooveaou~ata and agre~a to r~leaoo lands from
th• li~n of this mortgago upon tha lollawiag terma and condi-
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(a) La~ada ahall bo rel~sod from thio mortgage
upon peymont of ~290.00 p~c front foot. 8ach ~
auch foot of land ab~ll rua grom tha oaQan to tha
riv~r.
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(b) No lands shall be ao released except in 100 foot
atrips whiab atrip4 ahall bo contiguou~ com~aencing
either at the North bo~undary os ttw South boundary, at
th~ Mortgagor'• oboic~. ~
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~c) ~tegular annual principal paymeute and all pre- _
. paymeate shall be aumulatLvo toward partial r~lea~~a + ~
undar thie ~ortgogs• .
(d) All raleases shaZl be prepared at Mortgagor'a
expense and furnished to Mortgagee for execuCion,
accampenied by a proper deaaription of the lends to
be released and computation o~ footage ~hall ba
~ satiotactory to Kortgagee.
(e) Interest on the unpaid pYincipal balance ehall
be paid to the date oi oa~b releaao upon •f~ecting .
eucb release~. . '
• {f) Lande Mill be relea~ed uader the above achodule
~ a~ principal paymeats.ere reaeived from time to tima.
~ 8~eleases not requeeted and recsived bq Mortgegor ahall
~ be cua:ulativelq aveilable to Mortgagor.
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~ (g) All payraente for tbe release of property encumbered
~ ~ by this mortgage ahall opply to the ne~ct meturing principal
payment and/or payments dua, and all principal paqmeata,
Whetber euch payoaant is an aanual principal or propayment
~ ' of principal~ ahali entitle Hartgagor to relaaae~ at the
aforeseid ~nounts therefor and ia aacordanco witb tha
sforesaid order of roloaaes.
~ (h~ The Mortgagee ehall not be required to give any
~ relaase while aay default esfa~~ in ~aid moYtgege.
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~ Anything hereinbu the coatrary not~dbhatanding, no releases shall .
A be granted nor prepayment on this mottgage and the note secured
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