HomeMy WebLinkAbout1181 payments, each in the amount of $10,138.90, together with interest~
shall lie due and payable which shall fully pay the aforesaid
mortgaqes in full. The privileqe of making payments in advance of
the due dates without p~nalty is retained by the Mortqagor.
In consideration of the payment or prepayment of each semi-
annual installment due upon the mortgages and notes as hereby
coordinated and consolida~ed, the Mortgagee, his successors or
asgiqns, will release from the lien and obliqation of the consoli-
dated mortqaqes, portions of the land encumbered by both of the
mortgages as follows:
1. One foot of land as measured on the perpendicular, for
each $250.00 so paid.
2. Each parcel to be released shall be released from South
to North, from the real property encumbered by the two mortqages
as consolidated, said real estate being more particularly described
hereafter, and such releases shall be contiquous to one another.
3. Whenever a release shall be requested, the Mortgagor shall
furnish the Mortgaqee with a survey description of the lands sought
to~be released, and the Mortgaqee 'shall thereupon execute and
deliver a recordable written instrument releasinq said lands from
the lien of the mortgaqe as herein provided.
That in consideration of the first annual installment of
principal paid by Mortqagor upon the note secured by the aforesaid
mortgaqe recorded in Official Records Book 176, page 1286, public
records of St. Lucie County, Florida, and in consideration of the
down payment paid by Mortgagor for the purchase of the land encum-
; bered by the mortgage to be recorded in the Office of the Clerk of
~ the Circuit Court of St. Lucie County, Florida, simultaneously with
~ this Agreement, Mortgagee hereby releases from the lien of the
~ -a~oresaid mortgages, as consolidated and coordinated, the South
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~ 333 feet of the real estate encumbered by the two mortgaqes as so
consolidated, as measured on the perpendicular, and it is aqreed
by and between the parties hereto that said mortgaqes as so con-
~ solidated, coordinated and extended by this Aqreement, be, and the
~ same are hereby consolidated into one mortqage lien, and takinq
into consideration the aforesaid 333 feet, as measured on the per-
~ pendicular, hereinabove released therefrom, said consol~dated
= mortgage shall be construed as a single mortgage lien securing
~ payment of both of the notes hereinabove mentioned and encumbering ~
~ the following described property located in St. Lucie County, Florida:
~ PARCEL A: The North 2611.51 feet of the South '
. eet of the followinq described property,
~ situate, lyinq and beinq in St. Lucie County,
~ Florida, to wit:
~ A tract of land in Sections 22 and 27, Township 36
~ South, Range 41 East, St. Lucie County, Florida,
bounded on the 3outh by a line parallel to and 765
feet Northerly (measured at riqht angles) from the
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