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Frincipal payments, sub~ect, however, to the following
conditions: ~
A. Tracts of not less than five (5) acres in size may ~
be released comnencing only in the Northeast corner of the
mortgaged premises and the next released parcel shall proceed
either in a southerly, easterly or westerly d rection from the
first parcel released in such manner that all unreleased property
remains contiguous and as nearly as possible square in dimension.
B. In order to obtain a release the mortgagor must pay
to the mortgagee principal installments either in accordance with
the schedule of payments or in advance at the rate of $1,000.00
per acre, provided, however, that no releases shall be given for
the payment of any principal installment in advance of the
regular schedule o~' principal installments unless and until all
interest due on the full unpaid principal amount of the note
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has been paid to the date o~ delivery of each release.
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C. The five (5) acre tr~.cts to be released shall be
described as either the North 1/2 or the South 1/2, or, as the
case may be, the East 1/2 or the West 1/2 of the tract n:zmbers
designated on the existing plat and for purposescf comguting the
number of acres released it shall be assumed that each tract on
the existing plat of the property contains 10 acres whereas the
number ~f acres in each tract may be less than 10 acres on account
of dedicated or existir~g canal, drainage or road right-of-ways.
D. The right of the mortgagor to obtain partial re~eases
cn a~count of principal payments sYiall be cumulative and if a
payment of principal and interest is ma~p and no release is
requested or issued on account thereof, the mortgagor shall have
the right to request and receive releases to which h~ thereby
became entitled at any ~late after such p ayment; all prepayments ~
of principal shall apply on the next principal payment due on ~
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the note, payment of which is secured by this mortgage. AI1 -
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