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ORDER OF RELEASE DESCRIPTION AMOUNT
7th release when 6th SW 1/4 of 7-36-40; and $500,000.00
mortgage payment made N 1/2 of SE 1/4 of 7-36-40; plus accrued in-
on 8/20/72 All of 8-36-40 beinq otherwise terest on prin-
described as Lots 123 to 188 cipal. .
incl. & that part of Lot 202 in
Sec. 8-36-40 of WHITE CITY SUB- ~
DIVISION, Plat Book 1-23; N 5 i
Acres of SE 1/4 of NE 1/4 and
S 5 Acres of NE 1/4 of NE 1/4 ;
~ & Beg. at stake 1140' N of SW ;
corner of SE 1/4 of SE 1/4 of I
said Sec. 8-36-40, th. S to E
Sec. line; th. N 165' to pt.;
th. W to W boundary line of
said SE 1/4 of SE 1/4; th. S
165' to POB,
11. IT IS DISTINCTLY UNDERS'1'OOD BETWEEN THE MORTGAGOR AND THE
MORTGAGEES, ANYTHING TO THE CONTRARY NOTWITHSTANDING, that no partial
release of this mortgage will be given on the following described
land, to-wit:
(a)j Drainage Canal #107 runninq through the mortgaged
property;
(b) A strip of land 100 feet wide lying South and adja-
, cent to said Canal #107 where it passes through Sections
16, 17 and 18 of Township 36 South, Range 40 East, and
where it passes through Sections 13, 14 and 15 of Town-
ship 36 South, Range 39 East. In the event the Canal
does not continue West to the Railroad, then a strip of
land equivalent to the said 100 foot strip plus a strip
~ equal to the width of the Canal shall not be released
from this mortgage f=om the Western terminus of said
r Canal due West to the said Railroad. ~
~ (c) A strip of land 150 feet wide West of and adjacent
to the turnpike extending from the North line of said
Canal #107 to Midway Road in Section l, Township 36
South, Range 39 East.
The purpose of denying releases to these strips of land is to pro-
vide (in the event of a default in this mortqage) strips of land
running from the river underneath the turnpike and through the
underpass for roads, drainage, cattle passes, and maintenance room
to deepen, clean and otherwise maintain Canal #107; To protect the
remainder of the mortgaged property, it is necessary that there
exist a private passage in order that encwnbered lands separated
by the turnpike can be joined together for common cattle or vehicle
passage way, for common drainage and for common maintenance of
existing facilities. Nothing in this mortgage shall in any way au-
thorize any interference whatsoever with this provision, without
the written consent of the MORTGAGEES herein.
The MORTGAGOR aqrees not to seek, directly or indirectly, the
rezoning of the said strips of land from agricultural for this miqht
prevent the movement of farm animals over said strips of land and in
the event said strips are rezoned, then and in that event, the
MORTGAGEES have the option to accelerate the balance due hereunder
and declare it due and payable, if said rezoning is the result of direct
or indirect action of MORTGAGOR.
Ti.me is of the essence of this contract and is binding upon
the heirs, successors and assigns of the parties hereto.
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BOQK184 PAGE~~D
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