HomeMy WebLinkAbout1973 (B) Releases shall be procured in tracts of 100 feet running from ~
South to North and extending from the mortgaged praperty to the east boundary
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thereof, and the releases shall commence at the South boundary line of the 1
property 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 #or 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 principal payments for the release
of land, the Mortgagor shall pay to the Mortgagees interest (at the rate pro-
vided 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
legal description of the praperty to be released, certified to by a registered
Florida engineer. All costs of same and any other costs pertaining to re-
leases shall be borne by the Mortgagor.
j 8. The Mortgagees will join in any Plat or Plats which may be ~
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so doi~g. Provided, however, that said joinder shall be conditioned upon the ;
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payment to the Mortgagee of the computed acreage dedicated to the public in ;
~ said plats and based upon 125~ of ~ 4, 800 . 00 per acre.
9. The provisions contained in the Mortgage are binding upon and
inure to the benefit of the successors and assigns of the Mortgagor, and
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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