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apply to, bind and inure to the benefit of, the heirs, '
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endorsers, succesaors and assigna of the Mortqaqor, and ~
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the heirs, endorsees, transferees, successors and assiqns ~
of the Mortqaqee.
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22. This Mortqage may be executed in any number
of counterparts and each of such counterparts shall for all
purposes be deemed to be an original. All such counterparts
shall toqether constitute but one and the same Mortqaqe.
23. Provided this Mortqage and the Note are in
qood standinq and not in default in any respect, Mortqaqee
agrees to release portions of the Mortgaqed Premises from
tne lien hereof on the following terms and conditions:
(a) The release price per released parcel shall
be 5312.00 per foot of frontage of each such parcel along
the Atlantic Ocean. Al1 sums paid as regular installments
or prepayments of the Note (whether a request for release is
made at the time of, before, or after any such payment) ,
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~ shall be credited aqainst the price of releasinq the next ~
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~ parcel for which a release is sought. All payments toward ~
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~ releases which are prepayments of the Note shall be credited ~
~ to the next maturinq installment or installments of principal ~
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due on the Note. ~
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- (b) Mortgagor may select the land to be released, !
~ so long as (i) the release parcel is contiquous and parallel
~ to the property previously released from this Mortgaqe or
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~ contiquous and parallel to either the northerly or southerly
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z boundary of the Mortgaqed Premises, re2easzs being permittad
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4-~ from both boundaries; (ii) release parcels have a minimum
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frontage along the Atlantic Ocean of 100 feet and shall
extend east to the Atlantic Ocean and west to the Indian
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River, and (iii) at all times the Mortgaged Premises remaining
- subject to this Mortgage shall be a tract extending in depth east
~ to the Atlantic Ocean and west to the Indian River and in width
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~=:y -~4_ ~ R 198 ~ 5$3
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PAUL S TNOMSON, 131, FIRST NATIONAL BANK BUILOIN6. MIAM1, Fl.OR10A 33131 ~