HomeMy WebLinkAbout1920 of which is hereby acknowledged, the parties hereto covenant
and agree as followss
l. Trustee hereby subordinates and aqrees to make inferior ~
the lien of Ellieon Mortqaqe$ to the lien of the Citizens Bank
Mortgaqe in all respects as-to the Mortgaqe Premises and any im-
provements now or thereafter erecteS or placed thereon; it beinq
the intend of the parties that the Ci~izens Bank Mortqaqe consti-
tute a first lie~ on the Mortgaged Premises and any such im-
provements.
2. At the time of payment for release of each lot from the
lien of the Citizens Bank Mortqage, Holiday Out shall pay for
the release of each lot from the lien of the Ellison Mortgagesby
depositing $1,000.00, pursuant to the provisions for release of~
said Mortgage, to the account of Trustee in Citizens Bank or to
such account as Trustee may he=eafter designate to Holiday Out
by written notice.
3. Except as herein expressly modified, Trustee and Holiday
Out hereby ratify and confirm the terms of the Ellison Mortgages.
4. Whenever herein the terms "Holiday Out", "Trustee" and
"Citizens Bank" are used, the~same shall be construed to mean as
well the successors, legal representatives and assigns of same,
whether voluntary by act of the parties or involuntary by opera-
tion of law.
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