HomeMy WebLinkAbout0898 ~ ~ ~ dr. , lo~.~l~ wt~~ 1~• ~.~.~.Ra. 1?.n.dt~.~w.na .nd .ppwe•-
n.nns ~?awlu b.brwt.q, and r?nb. Is.u.~..nd pro(1~. t~.h% eiw1~ ~1~. rwo.q.~.+. a~.. ,trwpl..
~ ~1~. ~~.+~e.~a ~t~l~ ~M el~oe ~o.i~ t~d./..a6tr ,.is.d o1..ad
Iand in j~ :i~b: ~I~oe ~i~. ~o.~~ Iw ~ood ~I~e .,+d I.~~i awAo?~e~r ~o ~w~? ,.~d I.++d
s~d; eha~ ~U ~.4. /~t?~.r .~w~w ro P..{«~ eb. j« .i~,l. n~l. ro~+d 4+d ~ ei~.
~e~. as may n~o.o~abl~ 6. na~+tnd: el~st el~. ww~+~ I~.nby latEy ~u.n+.na tk. eieb ~o ,.Id I.nd
a,~ wtU ~~nd th~ s~nN a~tn~t t~ lawju! cJat~na oi aU PKSOn+ wi~o+wao~: ~nd tl~at aad land ta /~w
.~d cI'or oJ eU ,~ncwwM+.ncw exC9pt ss abov~e pro~vided. .
I~ oonsidenntton of tt~e pqyment a^ prepqyment of tt~e s~rins due ~mder tl~ts mo~t-
gage and the note secured. tl~er~eby, the Mortgagee agi^ees t~ release from the
tien and operation of this ~nortgage portions of the lair~ds encumbered, in accor~d-
ance witi~ tfie f;oltawing schedule:
1. Oie fbot of tand fronting on tt~e Attantic Ocean, and extensltng bo tt~e West
ba.mdary of the pro~erty, shatt be released per ~225.00 so paid.
2. Land released by this r~nust be released from South bo North. When no less n
235 feet of said lar~d, as measured along tt~e Atianttc Ocean, remai~s unreteased .
satd r~emain~ie~ must be reteased in its enti~^ety upon payment at the rabe~ of
~?225.00 per foot, as afo~^esaid.
3. Wheneve~ a retease shs?11 be r~e.c~uested, Mortgago~ shatt f~rnish Mortgagee
with a descriptton of the lands sought bo be reteased, and the Mo~^tgagee shatt
thereu~on execute and deltver a reoordabte written instrument i^eteasing lands
. *See Betow
~Idtl~ ~S, elsne iJ ,nid moregogor shail pa~ uneo ,sid e,ort~.. er?. c~rtain prow~is-
sory nofe tiereinnf
ter subslanfinuy oopied or t~Nf
ied, to-wit:
Mortgage Note attached hereto and made a part hereof. ~
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'`from the tien of this mortgage, as herein provided . The aost of preparing
and recording such reteases shati be paid by the Mort,gagor.
' 4. Releases may be requested at ary time after tfiey have been earned and
~ need r~ot be requested at tt~e time of payment therefor.
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By acceptance of tfiis mortgage deed tf~e mortgagee, Wiltiam E. Gtover, as
~ i Trustee, agrees to pay the amounts in the manner required under the herein
n ~ described mortgage hetd by Richard W. Stae^~, Jr., as Trustee, and the
~ ~ herein described mortgage held by R~ert F. McR4berts, as Trustee. The
mortgagor does not assume and does not agree to pay said mortgages.
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