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EXHIBIT "8" ~ ~ - ~ - -
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I~IORTGAGB RIDER ~ -
TO THAT MORTGAG$ FROM TONX SOTOLONGO TO ~ -
THOMAS R. CURRI$ AND RITA CURRI$, HIS WIP°`, D.sT~ AUGUST 10, -1979.
8. RHLBAS$ PROVISIONS. The Mortgagee, his successors or assigns`,- -
K~3,1 release from the lien and operation- of this mortgage lands encumb-
exmd hereby in accordance with the following terms and conditions-.
a) The Mortgagor, or any third party, shall have the privilege -
of securing releases at the time payments are m_ade,-or at
such future dates as he elects.
b} Monies paid for Partial releases shall be credited first to~
accrued interest and then to principal.
c) Partial releases shall be prepared by the Mortgagor arad
delivered to the Mortgagee or his attorney for approval.
and execution by the Mortgagee. The Mortgagor shall pay
for the cost of the preparation as well as recording of
same.
d) Releases shall be made on the following basis,. to wit:
(i) All releases shall be measured on a front footage -
. basis along State Road A-1-A and shall run from
the said State Road to the Indian River.
(ii) Releases shall commence at the northerly boundary
of the property encumbered by this mortgage and
proceed in a southerly direction.
(iii) Upon the first annual principal payment together
with accrued interest, required or permitted, nr~rt-
gagee shall release the Northerly fifty (50') feet
of the subject property.
- (3,v) Upon the second annual principal payment together -
wfth accrued interest, required or permitted, mort-
gagee shall release the next contiguous fifty {50')
feet to that released pursuant to subparagraph {iii)
above.
(v) Upon the third annual principal payment together with
accrued interest, required or permitted, mortgagee
shall release the next contiguous fifty (50`) feet
to that released pursuant to subparagraph (iv) above.
(vi) Upon the fourth annual principal payment together with
accrued interest, required or permitted, mortgagee
shall release the next contiguous one hundred two
(102') feet to that released pursuant to subparagraph
(v) above.
(vii) Upon the fifth and final annual principal payment to-
gether with accrued interest, required or permitted,
mortgagee shall release the balance of the property. R
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