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14. Time is of the essence in all matters herein and in
tie attached mortgage.
15. In the event that the Mortgagor shall pay in full the
existing first mortgage as recorded in O.R. Book 282, beginning
on Page 1721, of the Public Records of St. Lucie County, Florida,
before the due date of this mortgage, and secures a fully executed
satisfaction of mortgage from the proper parties, then, and at
that time, the mortgagee hereunder shall release the South one-half
(1/2) of the real property more particularly described in the
mortgage hereto without payment of additional sums by Mortgagor.
16. All partial releases of Land shall be prepared by the
Mortgagor and delivered to the Mortgagee's attorneys for approval ~
and subsequent execution by the Mortgagee. The Mortgagor shall
pay for the preparation of the partial releases as well as the
recording of same.
17. Mortgagee shall not be required to execute and deliver
any partial release at any time that this mortgage or the note
secured hereby, is in default.
18. If all or any part of the property or an interest therein,
including any agreements for deed, is assigned, sold or transferred
by Mortgage without Mortgagee's prior written consent, Mortgagee
may, at Mortgagee's option, declare all the sums secured by this
mortgage to be immediately due and payable.
IN WITNESS WHEREOF, the parti~les~hereto have executed the
foregoing Mortgage Rider this fO' day of April, 1980.
es:
SAND DOLLAR VILLAS DEVELOPMEI$g~,~ ~,~~-4
CORPORATION : ~~=~'r_-;~
ATTEST : /~f -"i~'~~ - ~
(CORPORATE SEAL)
L W. , ee•
i
STATE OF FLORIDA
COUNTY OF MARTIN
I HEREBY CERTIFY that on this day of April, 1980, before
me personally appeared ~~77 ~,~,y and