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~0 ~1fiVe Ylli~ l0 ~iVll~ !~e same, loget~e~ wttF I~e fe~emenfs, h~d~eament~ anc~ appurle-
I~ IlA11CP1 fhPrnlo ~,P~on~ing, an~I II~e ?enis, issues a~~~ ro ifs I~e~eo , un[o Ihe mort a ee, in se alm le.
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l T1(~ fl~e ?norlg4gor co~~enanfs wtfh fJ~e morlgagee fhaf the inortAagor is t»dej~.ibty :eizec~ of said
j land i~ fee simple; fRaf ftie morfgagor /~aa good rig~f and ~aw~u~ uut~oritp to c~onvey aatd la.~d at n~oro-
~ saic~; fhat the rreortgagor u~ell rnake suc1~ ~urtl~er assurances to pe~rc! t~e Jse :tmple titla to satd Iand ~n ihe
~ rnorf~apPe as muy reasono6ly be requtred; that tl~e mortgagor he?e6y (ully wa??a~ta the ttlle to said land
I anci will deJend the same agairwt the Iawjul claima oj all peraons wkomsoeuer; o,~d tkae :aid la.~d /ree °
' and clear o~ all encum6rances EXCEPT th8t eertain mortgaqe held by Evelyn
Oietz, dated July 26, 1972, and recorded in Official Record Book
~ 204, Paqe ~895, St. Lucie County, Florida, Public Records, and ~
~ re-recorded in Official Record Book 206, Page 995, St. Lucie ~
County, Florida, Public Records, in an original principal amount
~ ofS118,369.00. All payments as they fall due on said mortqage
shall be borne 50$ by mortgagor herein and 508 by mortgaqees
( herein. ~
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` ~~V~~ I~fV~ys~ fhat ff saic~ ntortgagor thaj~ pay unfo saic~ mortgagee the cartnin prornti-
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~ sory note f~ereinafter su6stnntially copiecl or iclentifted, to-tvtt:
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See copies of notes attached hereto
;I and made a part hereof by reference.
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By acceptance hereof, the mortgagees agree to release parcels from
~i the lien of this mortgage as follows: -
(a) The release price shall be $7,000.00 in principal,
; together with any accrued interest thereon, for each acre to be
released. - ~
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i (b) Parcels shall be released in increments of not less
' ;j than five acres, running from Pruitt Road to the water's edge, and
;I beginning at the Southern boundary oF the encumbered property.
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~i (c) Al1 parcels to be released shall.be contiquous to
parcels previously released.
(d) Payments made for releases shall be applied to the
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~ next maturing payment or payments pursuant to the note. Similarly,
' payments made pursuant to the note shall entitle mortgagor to
! releases according to the same schedule.
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j (e) No releases shall be granted while the mortgage or
~ jj note is in default.
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' . goo~2~2 ~?~1388
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