HomeMy WebLinkAbout2265 comes due, or if each and every the aqreements, stipu-
lations, conditions and covenants of said note and this
mortqaqe, or either, are not fully performed,complied with
and abided by, then the entire sum mentioned in said note,
and this mortgage,~or the entire balance unpaid thereon,
shall forthwith or thereafter, at the option of the Mort-
gagee, become and be due and payable, anythinq in said note
or herein to the contrary notwithstanding. Failure by the
Mortgagee to exercise any of the rights or options herein
provided shal~ not constitute a waiver of any rights or
options under said note or this mortgage accrued or there-
after accruing. -
After January 1, 1974, the Mortqago= shall be
entitled to obtain releases of portions of the land herein-
above descri.bed from the lien of this mortqage upon the
fol.lowing conditions:
a. The Mortgagor shall give to the Mortgagee an
accurate description and computation of area of each par-
cel of which a release is requested.
b. Releases shall be granted in consideration
of required and optional payments upon the principal of
the secured note at the rate of $1,875.00 per acre of the
area being released.
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~ c. Each parcel to be released shall be rec-
~ tangular in form. The first one shall be iocated South
of and contiguous with the South boundary line of ~the 25-
acre parcel which is excepted from the lien of this mort-
gage and is described in the paragraph lettered "b)" in
the description on page 1 hereof and contiguous with the
East boundary line of the mortgaged land. Each parcel
subsequently released shall be contiguous with the one
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