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~o ~aue and to ~intd Ihe sanie. fogethe~ with the Ianements. hered~laments and appurle-
~ +~a~tcps fherc~fo f~r~o?~ging, ai~~ II~e ?~nft. ~ssuea ana pro~Ifs thsreo~, unfo Itie mortgages, tn ~se simp~e.
nl~{l the mo?fgago~ cove~ianls u~ill~ !1?e mortgagee thnt ths narleogor ta tndt~ecui6ly aeized o/ saFd (
lan in ee sim !e; tl~at ihe mort a or has ood ?t ht and !aw u autho?if to eonve said Innd as a on- ~
~ n e9 e 9 f~ r r I i
~ said: that tl~e mo~tga9or wi1l n~ake sucl~ (urtl~e~ asaurnnces to per/PCt tl~e ~ee si~npb ttt4 to satd Iand in the
I IilO?~~Q~PR as may reasona6ly 6e requfrea; t/~at !he mo?tgagor i~e~6y ~u~ly warrants t~e tiljs to scid lond
I anci u~ill deje~d the sume ngainst the ~tw(ul claima o~ a~l penont wltomsoever: and lhat aaid land ~.t /nee
~ and clear o/ all encumbroncra.
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~~V~~ TKW~s~ lhnt i~ said morlgagor shall pny unto said mortgagee t~e certain promit-
~ sory nofe ~ereinaf fer su6stantiully rnpiec~ or identiJied, to-wit:
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See copies of notes attached hereto
and made a part hereof by reference.
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By acceptance hereof, the mortgagees agree to release parcels from
! the lien of this mortgage as follows:
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(a) The release price shall be $20,000.00 in principal,
~i together with any accrued interest thereon, for each acre to be
,i released.
(b) Parce^Is--shall be released in increments of not less ~
r than five acres, running from Pruitt Road to the water's edge, and ~
beginning at the Southern boundary of the encumbered property. '
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` (c) AI1 parcels to be released shall be contiguous to
parcels previously released. M;
;j (d) Payments made for releases shall be applied to the 1
next maturing payment or payments pursuant to the note. Similarly, ~
payments made pursuant to the note shall entitle mortgaqor to
releases according to the same schedule. ~
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' (e) No releases shall be granted while the mortgage or
; note is in default.
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ao~212 ~~136?
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