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note secured thereby shall remain in full force and effect, and any
default by owners under this agreement shall have the same force ~
and effect as a default under the mortgage dated February 23, 1971.
6. Mortgagee hereby releases and discharges the maker of
the note secured by the previously described mortgage from all
liability due under said note and mortgage and hereby releases and
discharges all endorsers (including Richard A. Pain and Ronald Berger)
of said note from all liability under said note and mortgage. Mort-
gagee shall place an endorsement to such effect on said note and
shall strike the signatures of said endorsers from said not$ i
~
7. So long as Owaers are not in default of any payment due
hereunder or of any covenant by them to be kept and performed,
Mortgagee agrees to release individual Condominium Apartment Units
from the lien and operation of said mortgage and this agreement upon
the payment by Owners of the sum of $10,000.04 for each such apart-
ment, such payment when received by Mortgagee to be applied on the
then last maturing payments due under paragraph one hereof.
8. This agreement shall inure to and be binding upon the heirs,
personal representatives, successors and assigns of the respective
pa-~#ies .
IN WITNESS WHEREOF, the corporate party has caused this agreement
to be executed in its name and its corporate seal to be affixed by 1ts
~
President, duly authorized, and the natural parties have hereuTito se~. _
their hands and seals on this, the day and year first above.: ~llent~toned.•, ~
_ .s. ~
- • _ _
FIRST FEDERAL SAVINGS AND I~~ '.a`~
s^`~.:^ j
ASSOCIATION OF FORT PI E ~`:~%'::jz~?~a'~~~~~~w~
'ti . ' `~Y~~i'r R ,i~.
As Mortgagee ~
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Its Presi en ~
(Corporate -S,e~~.-~
Wit sses : . (Sea1•~. °
Ro rt F. Ear y
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cseal,
- ~ o Britt Ear y
As Owners
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