HomeMy WebLinkAbout1222 SCHEDULE "A"
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PARTIAL RELEASE CLAUSE: The Mortgagees, their heirs and assigns, ~
may make, execute and deliver partial releases of this Mortgage to
the Mortgagors, its successors and assigns, as follows:
1. Upon payment of each annual installment of the principal and
interest, there shall be released 75 feet of the mortgaged property
running from State Road A-1-A on the East, to the waters of the
Indian River on the West, the first such release to begin on the
South boundary of the mortgaged property and subsequent releases
to be continued Northerly contiguous to the last released property.
2. Provided that the Mortgage is not a default, partial releases
running from State Road A-1-A on the East to the waters of the
Indian River on the West ii~i tracts of not less than 75 feet in
width as measured from North to South shall be released upon payment
of the sum of $17,500.00 of the principal, together with the interest
then accrued on such release payment. Z'he first such partial release
shall h ave as its Southerly boundaries the Southerly boundary of the
: property then under Mortgage and thereafter releases shall be given
in the Northerly direction with release to be contiguous to the
last parcel released.
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i 3. No release payment shall by made during the calendar year 1971.
= 4. All prepayments of-principal paid for partial releases shall be
? credited to the installments due on the Mortgage Note, secured here-
~ by in the order of their maturity.
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RECENED i /~C-
~ DUE ON CLASS 'C IN7MiGtBIE ERSGvNA(, P;'~p_TASYE~
~ PURSWt1T TO CNAPT;R 20724. AC(S Of 1911.
~ RQGER POITRAS, Cle;fc Circuit CouR
~ as /4~erR for CANIEL N. KNGWLES, 1R
St Lucie r.ty aK Coficctor
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DEPUTY CLERK
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