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PARTIAL RELFASE PRnVISIONS
Re; Weiner mortgage to Nikander
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Provided that this mortgage and the Promissory Note that it secures
be not in default, the mortgagee, his heirs or assigns, will make,
execute and deliver to the mortgagor, hia heirs or assigns, partial
releases of this mortgage on the following terms and conditions:
(1) Partial Releases of lands lying Easterly of the
East right-of-way of State Road AlA and bordering on the Atlantic '
Ocean may be released upon payment of the sum of $650.00 per front
foot (as m~asured along the Atlantic Ocean) for each foot so released.
Rel~ases shall begin at the Southerly boundary of the mortgaged
property and thereafter releases shall be given in a Northerly
direction with each release to be contiguous to the last parcel released.
(2) Releases of Che mortgaged lands lying West of the
Westerly right-of-way of State Road AlA shall be made in accordance
with the prices shown on the map of survey attached hereto and by
reference made a part hereof, said releases to be made only in the
alphabetical order as shown on said map of survey and upon a payment
of principal on the mortgage equal to the sum shown on said map of '
survey for each of said parcels, it being the intention of the
parties that the releases shall be made in the following order:
Parcel B, Parcel C, Parcel D, Parcel E, Parcel F(Parcel A having
been released and not included in this mortgage).
(3) No release payment shall be made in the year 1971
except to the extent that advanced payments of prind pal may be made
pursuant to the provisions of the note secured by this mortgage. ~
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(4) Any advanced payments of principal made for partial
releases shall be credited to the next installment due on the mortgage
note and all payments of principal on said note shall apply toward
partial releases whether requested at the time of the payment by the
mortgagor or not.
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- SCHEDULE "A", Page 1. ~
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~ e~oK 191 1753
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