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Home My WebLink About2559 ._1~ R E L E A S E. S FIRST RELEASE The Mortgagee, for himself, his heirs, executors, adminis- trators or assigns, upon payment of Sixty Thousand ($60,000) Dollars~, covenants to release the South 200 feet of the _property described in the mortgage. SECOND RELEASE The Mortgagee, for hi.mself, his heirs, executors, admi.nis- trators or assigns, upon further payment of Sixty Thousand ($60,000) Dol.lars, covenants to release the South 400 feet, LESS the South .200 feet of the property described in the mortg~ge. Further releases wi.ll be granted when requested upon payment of Sixty Thousand ($60,000) Doilars, plus accrued interest, for each sub$equent release. Such releases shaZl be contiguous to and ad- jacent to the property previously released until the balance of principal and accrued interest have been paid. Such payments for releases shail be cumulative and credited ' to no*e upon next payment due on said n~te. Releases may be requested when payments are made and when such releases are requested, the description of such releases shall be furnished t~y the Mortgagor. and agrees: 1. To make all payments required by that note and this mort- gage promptly when due. " 2. To pay all taxes, assessments, liens and encumbrances on ~ that property promotly when due. If they are not promptly paid the Mortgagee, LOUIS R. BRESSLER, may pay them without waiving the op- j tion to foreclose, and such payments, with interest thereon from , ~ the date of payment at the same rate as spec ified in that note, shall also be secured by this mortgage. 3. To keep aLl buildings now or hereafter on that land insured against damage by fire and ligk~tning in the sum secured by this mortgage, by an insuror satisfactory to the Mortgagee, LOUIS R. BRESSLER, the insurance policy to be held by and payable to the until such time as the buildings are reieased from said mortgage. Mortgagee, LOUIS R. BRESSLER / if the Mortgagor, WILLIAM J. MATHESON, ~ shall rtot do so, the Mortgagee, LOUIS R. BRESSLER, may do so without -3- ; 3J~ rs~E1.OJr~ ~ : ~ y - ~ ~ ~ , ~ ~ = ~ ~ - ~ t ~ ~ , _ . , ~ :