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HomeMy WebLinkAbout0197 !i ~ ~ i SCHEDULE "A" (a) At the consummation of the transaction, of which this ~~mortgage is the subject matter, and at the time this mortgage is } recorded, the Mortgagee shall release a 20-acre parcel, starting ~ at either the Southeast corner of tha sub~ect property on Weather- ,bee Road or at the Southwest corner of the subject property on Weatherbee Road, in as near a square parcel as possible. The Mortgagor shall have the right to designate at which.corner the release shall be given. Thereafter, as each annual payment of principal and interest is made as called for by the promissory note, the Mortgagee shall release an 18-acre parcel, in as near ' a square parcel as possible, running iri a Northerly direction and ~~immediately North of and contiguous to the aforementioned 20-acre parcel which is to be released. At such time as the North boun- ~ dary line of property is reached with the releases,-the releases ~shall thence commence from North to South direction in 18-acre . parcels, in as near a square parcel as possible, and immediately contiguous to the West or the East boundary lines of the previous- ly released property (depending upon whether release starts at ~the Southwest corner or the Southeast corner) and thenca continu- ~~ing in 18-acre parcels from North to South and South to North in ~ the same manner and configuration until the note secured by this .~mortgage has been paid in full. . ~ (b). In addition to the aforementioned releases, the Mort- ~igagee shall release additional acreage upon payment to the Mort- ~ ~~gagee of SIX HUNDRED FIVE DOLLARS ($605.00) per acre, together ~ ; with accrued interest thereon at the time of payment. This acre- '~age release shall be in as near a square parcel as possible and ~~shall be in the same manner and configuration as above described ~~so as to maintain an orderly and conforming pattern of released i acreage in~a North-South direction. ;j ' ~ (c) The Mortgagor shall at his expense furnish to the Mort- ~~gagee a legal description and a certificate prepared by a licens- ied civil engineer or land surveyor describing the property to be ~r-eleased, certifying the nwnber of acres to be released by that ~ ~;description and certifying that the release of said described 4~property conforms with the method and configuration of releases ~ ;;heretofore described. ~i ' (d) Each instrument of releases shall be in statutory re- ~~cordable form and shall.include all~of the right, title and in- ;~terest that the Mortgagee may have in the parcel being released. ~ s (e) All releases shall be prepared by the attorney for the '!Mortgagor. ~ E ~ (f) The Mortgagor shall not be entitled to demand or obtain '~any release while a default exists in the performan~e of the terms `;and provisions of the promissory note secured hereby and this real ~;estate mortgage. ~ ~ - ~ ~ . ~ 3~'q~$S = ? . F~~E~ e,?,: -.E::~ROEo ~ I ' ST.IUC;i t:~Jkj~ fLA. ~ P.vGi ~ r~AS ~ - c-c, ;...:s; C0;lRT ~ ' O C f^ n tif r~ ~,,,~,..r i 1 ' . . ; ~ QCT LZ 101~ {IM'1~ ~ ~ ~ ~ ~ _ ~ ~ ; ~ ~ ~ ~ ~ ; ~ i 1 ~ ~ s ~ ~ ~~.."L ~-~..r . . 'i~ . . _ _ m.~ .~d . ~ s~i,~'-g~vr._ . . r