HomeMy WebLinkAbout2414 subject property is encumbered by a certain mortgage granted from mortgagee
to The Northwestern Mutual Life Insurance Compnay, recorded in O. R. Book
1~2~ page 147, Public Records, the unpaid principal balance of which is
approximately One Hundred Sixty Five T'hous and and no/100 ($165,000.00) ~
Dollars. Mortgagee agrees to make all payments required by said mortgage
and the note secured thereby, and to furnish 3atisfactory evidence of such
~ayments as a condition precedent to each and every pay~aents required by
mortgagor. Mortgagee agrees to discharge said mortqage upon the sale of
other property covered by said mortgage. At such time as the unpaid
principal balance of the note from mortgagor to mortgagee ~s eqaa~. to t2je ~
unpaid principal balance of the note from mortgagee to The Northwestern
• Mutual Life Insurance Company, mortgagor may deliver to mortgagee an instrument .
in writing whereby the mortgagor assumes and agrees to pay said mortgage ,
whereupon mortgagee shall deliver to mortgagor a discharge of this mortgage,
and if mortgagee shall fail to deliver such discharge then the payments terms of
the note and mortgage from mortgagor to mortgagee shall be deemed amended
to require payments at the times and in the amounts required by the note and
~mortgage to T'he Northwestern Mutual Life Insurance Company.
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s For sl long as any part~of the indebtedness secured by this mortgage shall
[ remain unpaid the mortgagors agree to maintain and care for the citrus trees and
' crops located or grown on the mortgaged property, such maintenance and care
~ to include cultivating, spraying, dusting, pruning, fertilizing, irrigating and
~ protecting the trees and crops against damage by surface water, free water in
i the root zone, freezing and fire, all to be done in good and husbandlike
; manner and in accordance with 5tandard methods of citrus grove caretaking
~ yenerally recognized, accepted and in use for citrus groves located in the
Y vicinity of the mortgaged property.
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5 :~.'_1 197'; F:eal ~state Taxes are the sellers lia~ility. Seller shall ~a~~ same
~ ~~on receiv~ng the tax. bill and submit proo~ of payment to buyer.
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