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EXHIBIT L TC) MC~RTCACE FR~M
AQUA RABELLA, INC. TO FIRST
BANK AND TRUST COMPANY OF
BOCA RATON , N . A .
Paragraph 22. The Mortgagor shall be entitled to partial releases of property
and the Mortgagee shall partially release property from the lien and operation
of this mortgage upon the following terms and conditions:
(1) Upon payment of the "release price", plus accrued interest, and
upon the request of the Mortgagor, the Mortgagee shatt release
"Lots" for exactly the amount and in exactly the descriptive order
and sequence as set forth in Exhibit C attached hereto and made a
part hereof.
(2) No partial release shall be granted which wouid result in any
mortgaged property which is not contiguous to at least 50 feet
of that Grant of Easement granted by Aqua Rabella, Inc. to Mort-
gagee simultaneously with this mortgage.
(3) Each request for partial release must be accompanied by
(a) payment of the "release price" plus accrued interest; and
(b) a survey or platted legal description describing with particularity
to the lot or lots sought to be released. The cost of preparation and
recording of partial releases shall be borne by Mortgagor.
(4) The Mortgagor shall be entitled to releases only so long as the
Mortgagor shali not be in default.
FIRST BANK AND ST COMPANY
OF BOCA , .A.
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BY:
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AQUA RA ELLA, INC.
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