HomeMy WebLinkAbout1965 (B) Releases shall be procured in tracts of 100 feet running
from Nauct~t~o south and extending from the West boundary of the mortgaged
property to the east boundary thereof, and the releases shall commence at
the South bou~dary line of the praperty encumbered hereby and shall run
North contiguously and shall extend from the West boundary line to the East
boundary of the property encumbered hereby.
(C) All payments made for the release of land encumbered hereby
shall be applied to the next maturing principal installments on the note secured
hereby. At the time the Mortgagor effects pri~cipal payments for the release
of land, the Mortgagor shall pay to the Mortgagees interest (at the rate
provided for in the note secured hereby) on the principal amount being paid
on the note secured hereby from the date to which interest was last paid up
to the date of said payment.
(D) The Mortgagor must provide the Mortgagee with a survey and
i legal description of the property to be released, certified to by a registered
Florida engineer. All costs of same and any other costs pertaining to releases
; shall be borne by the Mortgagor.
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~ 8. The IVlortgagees will join in any Plat or Plats which may be placed
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~ of record but will not be liable for any of Mortgagors obligations in so doing.
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~ Provided, however, that said joinder shall be conditioned upon the payment to
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~ the Mortgagee of the computed acreage dedicated to the public in said plats
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and based upon 125~u of ~ 4, 800 . 00 per acre.
~ 9. The provisions contained in the Mortgage are binding upon and
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~ inure to the benefit of the successors and assigns of the Mortgagor, and
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~ Mortgagees and the Mortgagees, by the acceptance and recordation of this
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Mortgage, have agreed to the terms and conditions contained in this Mortgage.
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