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_ DOCU~,ENT,~ _:F.S~a~~P _+:A~t ~;_,_T~1x .T:~ t~_~-a~( ~ - ~+'•1!? Ta%.
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COMpiRGLLER ~ ~ _ _
P.B. ~90t38 ==~iC:
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as it presently or hereafter may exist. Mortgagee shall be
deemed the secured party and Mortgagor shall be deemed the
debtor.
20. Upon execution and recordation of the Declaration
of Condomi ni um as aforesai d, and provi ded thi s Mortgage and
Note secured hereby are in good standing, Mortgagee agrees
to release from the lien of th~s mortgage individual lots
upon payment to the mortgagee of a sum equal to the greater
of the following:
a. 60% of the retail sales price of an individual lot,
b. CMI's base of a3,218 per individual lot.
This release clause will remain in full force and effect until
the principal or interest due ur+der this obligation has been
paid in fulj or a final decree in foreclosure has been entered.
IN WITNESS WNEREOF the Mortgagors have placed their hands
and seals hereto the day and year fi rst hereinabove written.
OUTDOOR RESORTS OF AMERICA, ItVC.
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~ WITNESS: ATTEST.
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Page 10
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