HomeMy WebLinkAbout4482 with the Mortgagors that the enforcement of the rights of the
Mortgagee, his successors and assigns, under said note and this
mortgage is limited to the security of the real property encumbered
by this mortgage for all payments under said note and this mortgage.
Nothing herein contained shall be construed as prohibiting the
Mortgagee, his successors and assigns, from having any and all
remedies which the law and this mortgage and the note it secures
permit as long as any such remedy does not include or extend to
the seeking or obtaining of personal liability against the
Mortgagors for the payment of said note or any payment required
to be made under this mortgage.
This mortgage is made, given and accepted with the under-
standing that the Mortgagors and successors and assigns shall
have the right to release portions of the property encumbered
; hereby from the lien of this mortgage subject to the following:
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f (a) So long as this mortgage is not in default, upon the
a payment of the principal sum of ONE HUNDRED TWENTY- _
` NINE THOUSAND DOLLARS ($129,000.00) on this mortgage
~ the following described property will be released
~ from the lien of this mortgage, to wit:
That part of Lot 3 lying South and West of U.S.
Highway No. 1, and that part of the South 425 feet of
Lot 4, lying South and West of U.S.Highway No. 1,
together with Lot 9 and the North 1/2 of Lots 11, 12,
and 13, all in Block 3, Section 26, Township 36 South,
Range 40 East, ST. LUCIE GARDENS. -
~ (b) The remainder of the lands encumbered by this mortgage
will not be released until full satisfaction of the
~ mortgage.
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~ This mortgage may be prepaid in full at any time without
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penalty, or in part at any time after January 1, 1973.
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All principal payments made on the mortgage obligation, either
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- regular payments or prepayments,shall apply towards the obtaining
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~ of releases and shall apply towards the installment of principal next
~ thereafter maturing. Releases need not be requested at the time when
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fr== regular principal installments are paid.
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