HomeMy WebLinkAbout0950
1. The within described real property is currently
mortgaged by Hall to Florida Bank at Fort Pierce by instrument
dated June 28, 1979, recorded in O.R. Book 311, page 1624,
to secure an original principal indebtedness of Fifty-Five
Thousand Dollars ($55,000). If default be made under the
terms of said note and mortgage, rendering the same foreclosable,
nothing herein contained shall prevent Johnson from (1) purchas-
ing said mortgage debt from the then holder, or (2) from
being a purchaser at any judicial sale of the premises for
the purpose of satisfying the mortgage debt, or (3) demanding
and receiving the then full unamortized advances, or (4) taking
such other legal action as Johnson may be advised.
8. Hall will keep subject property insured against
loss by casualty in an amount not only necessary to satisfy
the requirements of the named mortgagee but also to cover
the equity of Johnson as represented by the amount of its
unamortized advance.
9. Subject to future regulations of the state or
federal government, Johnson will furnish Hall gasoline in
quantities based upon the allocation base for the period
November 1977 through October 1978; the same being as follows:
Gallons
1977
November 37,200
December 37,200
1978
January 35,100
February 35,000
March 37,200
April 43,900
May 37,200
June 35,600
July 37,200
August 37,200
September 45,300
October 37,200
Total 455,200
in the same percentage as Amoco Oil Company (or other Johnson
supplier) allocates to Johnson.
10. If, under any of the circumstances described
in this agreement, the unamortized advance becomes payable
- 5-
' FEE. KOBLEGARD & TEEL. P. A. .~
rosr o~r es sox ~owoo 8~1(~~~ ~S~ g'4$
FORT rI[RC[. FLORIDA ]l404
Ts~t-NOwt~ (!OS) 4d1•5020