HomeMy WebLinkAbout0503 ~h. a.+~... ~oQ.eh.. wit6 el?. ese~ww~+u. I~.ndt~oiw.na snd .~ppwe.- .
n.noa elun.ro 6.tonpt~. wnd tM n~e,. taua .nd p~o/ta el~.no~. unto !b. inore~... +n j.. •tm~?1.. . ~
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~ t1~. ~nortoooo. cawn.na wu~i eh. ~no.tpaps~ ~I~ot elu. moN~a~or ts trwl.j.o.tb[y ~.ts.d o? ..Id
tend tn ~tn~Io: elioe e1~. awrt~o. l~s ~ood .tphe a~d (a~?~uI outl~ority to oonw~? ,a1d I.nd m./a~.-
.otdr d~at ~h• n~onpapor wtU Mo~. ,ud~ Iwtl~.. o..wanoa eo p~.(.ce d~. j« ,e~wpb atb ~o ,sJd lend 1n el~. `
~w+~9~ws. a. ~nay r~o,onobiy b. nQ~tnd: elwt eh. n~wtaapor ha+tbr lu!!y werrona th. rub eo ,otd la~d
and w1U d~fsru! eh~ ~ain~ aQatnat ~/ii lavjul clotn~a o/ aU pQnons wkom~o~u~?: and tkat ~dd lond ia /rw
and cbar o/ nU .ncwnb++snn. ti~ftept as above provided. ;
In consideration of the payment or prepayment of the sums due under •
this mortgage and the note secured thereby, the Mortgagee agrees to
rele-ase from the lien and operation of this mortgage portions of the ~
lands sncumbered,~in accordance with the following schedules ,
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1. ~One foot of ~land fronting on the Atlantic ~Ocean, and extend ~
ing to the West boundary of the property~ shall be'released for~each f
~50 so paid. -2. Parcel ~2 must.be released in its entirety prior t ;
the release of Parcel ~1 and must be released froro Sotith to North. ~
Whe~.no less than 235 feet of said Parcel ~2, as measured along the ~
Atlantic Ocean, remains unr-ele~sed~ said remainder must be released ;
in its entirety .upon payment at the rate of sSQ per foot, as afore-
said. 3. Whenever a release shall be requested, Mortgagor shall
furnish Mortgagee with a description of the Zands sought to be '
_ released,and the ~tortgagee with a description of the lands sought tobe 3
*SE BELpW
~~s~ lhat i/ said mortgapor shaU pay unto said ~gag~t tTi~ cwtain pnumti-
soqr note heretna~ler substantinUy c~opied or ident~jied. to-wit:
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Mort gage Note attached hereto and made a part hereof. i;
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*releas~d, and the Dtortgagee shall thereupon execute and deliver a
recordable written instrument releasing lands from the lien of this
-mortgage, as herein provided. The cost of preparing and recording
such releases shall be paid by the Mortgagor.
I4 4. Releases may be requested at any time after they have been
i~ earned and need not be requested at the time of payment therefor.
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n F DOCUMENTAp~~STAMP -l~;t ;
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q R ~.85 P~~ 503. '
600K ~
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