HomeMy WebLinkAbout0122 determined by applying the ratio of one (1) acre of real property
per each Four Thousand Five Hundred Dollars ($4,500.00) of
principal payment paid to the amount of principal actually paid
from the "net available cash".
Mortgagee acknowledges that the Mortgagor may make pre-
payaients on the Purchase Money Note, which is secured by the lien
of this mortgage, at any time without penalty. -Mortgagor further
covenarits and agrees that upon any such pre-payment, the Mortgagee
will execute and deliver to the Mortgagor a Partial Release of
Mortgage releasing a portion of the encumbered property, to be
determined by applying the ratio of one acre of real property
per each Four Thousand Five Hundred Dollars ($4,500.00) of
principal payment to the amount of principal actually prepaid.
THE COVENANTS AND AGREEMENTS contained herein and in
said Purchase Money Note shall bind, and the benefits and
advantages thereof shall inure to, the respective heirs, legal
representatives, grantees, successors and assigns of the parties
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hereto. Whenever used, the singular shall include the plural,
the plural the singular, and the use of any gender shall include '
all genders.
IN WITNESS WHEREOF, this mortgage has been executed
for and in behalf of the Mortgagor, the day and year first ~
ab~ve written.
LIMITED PARTNERSHIP j
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BY: GULF OIL REAL ESTATE DEVELOPMENT ~
CO., GENERAL PARTNER ;
BDOK~ ~AEiE 1„~ By ' .
(Vice) President ~
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