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the Purct~'ase Money Note of even date, which this mortgage secures,
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the Mortg~gee will execute and deliver to the 1?lortgagor a Partial
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Release o~f Mortgage which will release the said Condominium or
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Apartme t Unit on which payment is made from the lien of this
mortga~e. Mortgagee further agrees and covenants that upon receipt
of eachP~principal payment of Four Thousand Five Hundred Dollars
($4,500:00) to be made upon the completion of development of those
portions of the encumbered real property which are not to be
developed for Condominium and Rental Apartment Units, as provided
in the Purchase Money Note of even date which this mortgage
secures, the Mortgagee will execute and deliver to the Martgagor
a Partial Release of Mortgage which will release one (1) acre of
said developed property from the lien of this mortgage. Mortgagee
agrees to execute and deliver to the Mortgagor a Partial Release
of hiortgage without the requirement of payment from the Mortgagor
upon the dedication of land for public streets and upon the
designation of land for utility easements serving the land of
the Mortgagor. The Mortgagee further agrees and covenants that
upon the payment of any principal amounts made from "net available
cash", as said term be described in the Limited Partnership
Agreement and in the aforedescribed Purchase Money Note, the
Mortgagee will execute and deliver to the Mortgagor a Partial
Release of Mortgage releasing from the Iien of this mortgage a
proportionate part of the encumbered real property, to be
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