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3. The release price shall be the sum of Six Thousand
(66,000.00) DoAars per acre payable in good federal funds; provided,
however, that the Mortgagor shall not req est nor shall the Mort-
gagor be entitled to partial releases which are less than five (5)
acres in size. -
4. Simultaneous with requesting a release, the Mortga or _
shall submit a partial release prepared in proper legal form which
shall include- a legal description satisfactory -in content Lo-the Mort-
gagee and shall be certified as correct by a Florida licensed land
surveyor (including an acreage count) . Accompanying each such
form of release shall be a survey of the parcel to be released under
seal of- a Florida licensed land surveyor showing its location in the
mortgaged property and its location with respect to any other
parcels heretofore released . - -
5. Releases shall only be given if at the time a release is to
be given this Mortgage is current and in good standing and no
event of default exists (without consideration of any grace period) .
6. No regularly scheduled pa ents due under the promissory
note secured by this Mortgage shall apply towards the payment of
partial releases. All sums paid for partial releases shall be applied
to the last installments of principal due.
7. Within ten (10) days of the Mortgagor's request for same,
the Mortgagee shall, provided the Mortgagor is not in default,
'°~orward an estoppel letter to any lender, purchaser or agent thereof
w'~iich shall confirm that the mortgaged property or portions thereof
shall be released from the lien of this Mortgage fn accordance with -
the provi$ions of this Mortgage upon receipt of the appropriate `
release payment.
8. Notwithstanding anything contained herein Lo the contrary,
it is understood and agreed that the Mortgagor shall not be entitled
to releases from the lien of the First Mortgage until aU outstanding
principal and accrued interest thereunder shall have been paid in
full in accordance with the regularly scheduled payments as set
forth in the First Mortgage .
E
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IN WITNESS WHEREOF, the said Mortgagor has hereunto signed and
sealed these presents the a and year first above n.
Signed, sealed and delivered
in the presence of:
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o ert pton
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