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HomeMy WebLinkAbout2378 RIDER ATTACHED TO THAT CERTAIN MORTGAGE DEED DATED MARCH 2, 19"l3, BY C. B. RINGEISEN and JEANNE L. RINGEISEN, HI5 WIFE, MnRTGAGORS, TO BESS ROZEN GORDON, AS TRUSTEE, MORTGAGEE CONTINUATION OF TERMS AND CONDITIONS: S. The Mortgagee agrees to allow the Mortgagors the following release provisions upon the terms and conditions~hereinafter stated: (a) No releases are requested prior to January 3, 1974; (b) Releases may be abtained in forty t40) acre increments and must start from the Easternmost boundary line of the property, running West, and each release beinc~ contiguous to the last property previously released. The entire tract fronting on Orange Avenue shall be the last tract to be released. (c} The Mortgagors shall deliver to the Mortgagee an exact legal description, certified by a land surveyor, of each tract to be released hereurider, and in addition, the Mortgagors shall prepare all partial rel.eases for execution by the Mortgagee; (d) Payments for all releases shall apply towards reduction of the next ensuing principal payment due under the terms of the promissory note secured by this mortgage; (e) All obligatory principal payments made by the Mortgagors, under the terms of the promissory note, shall be applied towards the sums due the Mortgagee for relpases of land hereunc~er. It shall not be necessary that requests for releases of land be made simultaneously with the payment of the obligatory priacipal sums required to be paid hereunder, and when the Mortgagors are ready to request releases of land and submit the amount necessary for such releases, any prior obligatory principal payments made by them for which releases have not been granted shall be applied towar.ds the sums due for such releases; (f) Releases shall be computed upon the basis of $1,120.00, plus accrued interest thereon, for each acre sought to be released; (g) Releases will be granted only at the time that all of the terms and conditions of this Mortgage and the Promissory Note, which it secures, is in good and current standing. (h) See face of mortgage to which this rider is attached. S~ ned, sealed and delivered i~•the pres~ce of us : ~ . ~ , ; ~ ~ - s. c< (Seal.~ - C. B. RINGEISEN ' G•71'Lll_-sv- { ~ r .L - c ~ Gti.~~.1 ~ ~ U `t f ~ ( S ea ) • JEANNE L. RINGEISEN .D AM$ •`rv~~~ B[ ' ~ ! l3CiE _ ",;;.'ifi~s C : _ COU~T ~ Na~ I"1 i[ o~ P~'7~ 249~~2 , ~ jf, '~~as _ , ~e~ ~ _ . - - ..~;:3'-~~` . .