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WHEREAS, a dispute has arisen between the parties ~
concernin the a lication of the a ents for artial releases ~
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~n which dispute Holiday Out has taken the position that such
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payments should be applied to excuse monthly payments maturing ~
so long as such reZease payments exceed monthly payments accru-
ing and the parties no~? wish to define fully the obligation of ~
payment.
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NOW, THEREFORE, for and in consideration of Ten ($10.00) ~
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Dollars in hand exchanged between the parties, tne receipt and ?
sufficiency of good and other considerations, which i4 acknow-
ledged, the parties, intending to be legally bound, agree:
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1. That the mortgages aforesaid for interpretatian !
purpQSes are hereby consolidated and shall henceforth secure
the unpaid balance of $191,693.25; which the parties agree to
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be due from Holiday Out to Ellison and shall be treated as though t
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; they were one instrument.
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~ 2. The lien of the mortgage shall be released hence- r
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forth anly by the payment of the sums as follows: '
(a) With respect to lots located in Parcel 2
(see Official R~cords Book 167, Page 2246), the lien
of the mortgage will be released upon payment of
$1,000.00 per lot. 4
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(b) With respect to lots located in Parcel 4, ~
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~ west of Government Lot 3(see Official Records Book +
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~ a~K 194 S26 ~
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