HomeMy WebLinkAbout0667 Mortgagee to comply with the release provisions of the Outstanding
Mortgages. There shall be no release of Parcel 1,
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(d) Requests for releases shall be made on at least 10 days prior
written notice and shall be accompanied by a survey prepared by
a licensed engineer or surveyor designating the area to be released :
which survey shall contain a legai uescripiion oi ~~e pdr~~i i~ ~
released and shall certify to the second decimal paint the number
of acres being released. ~
(e) No parcel shall be released unlesa the Mortgagor shall grant
to the Mortgagee an easement for ingress and egress from the i
_ balance of Parcel 2 encumbered by this mortgage to Parcel 1
which easement shall cover the 80 feet running along the westerly j
portion of Parcel 2. Such easement, h~wever, shall be released
upon such occasion that the Mortgagor shall replace and substitute '
it with an easement across adjacent unencumbered property which ;
easement shall be non-exclusive but co-extensive with any central
access road developed by the Mortgagor in connec ion wi~h any - -
- condominium development across any such unencumbei`ed property s
so that at all times the Mortgagee will have access from Parcel ~
2 encumbered by this mortgage to Parcel 1. ~
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(f) All monies paid by releases (other than for interest) shall be. ~
applied to the reduction of the mortgage indebtedness and shall be :
credited aga.inst the next ensuing principal payments due under the ;
within mortgage. Likewise, all payments of principal made by the i
Mortgagor shall be credited as prepayment of release consideration
and the Mortgagor shall be entitled at all times to obtain releases i
to the extent of such principal payments.
(g)The Mortgagor shall pay all costs attendant upon obtaining any
release.
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32. The Mortgagor may plat land encumbered by the lien of this mortgage ~
and in the case of each and every plat so filed by the Mortgagor, the Mortgagee
shall join in the filing of the same to the extent required by the then pertinent
regulations of St. Lucie County, or the laws of the State of Florida provided,
however, the Mortgagee shall not incur any liability of any kind in connection
' therewith and all out-of pocke~. costs and expenses incurred.by the Mortgagee
i shall be paid by the Mortgagor; and further, provided the Mortgagee shall
have the right to approve any proposed plat which approval the Mortgagee
f covenants not to unreasonably withhold or delay. ~
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~ 33. Anything to the contra.ry contained in this Mortgage or the promissory
' note secured hereby notwithstanding, Mortgagee agrees to look solely to
` --the mortgaged property as its sole secur-i~y-€or--the perfortnance .of a1L_the
~ terms and conditions of this Mortgage and the promissory note which this
` Mortgage secures and Mortgagee shall not be entitled to any deficiency judg-
ment or any other personal monetary liability against Mortgagor.
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34. Provided the Mortgagor or the then owner of the mortgaged property
shall not be in default in the performance of the terms, covenants and con-
ditions and provisions of this mortgage or the promissury note secured ~
hereby, the Mortga.gor shall have the right to excavate and dig from Farcel
2 of the mortgaged property in accordance with the following terms and con- '
~ ditions:
' (a) All fill taken from such excavation shall not be removed
` from any portion of Parcel 2 encumbered by this mortgage.
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