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RELEASE AGREEMENT
Release agreement as to mortgage from Louis Noa, George Schuler
and Ronald Morris to Ellen F1. Irish and Charlie B.. Clark, dated February
2, 1981.
hbrtgagees agree that any time during the term of this mortgage,
if the r,artgage not be in default, to release from the lien of the said
mortgage, parcels of the encumbered real property upon payment therefore
of principal sums as set out hereinafter.
Parcel I. shall be released upon an additional principal payment
of $18,OQ0.00.
Thereafter, Parcel II. shall be released upon payment of an additionai
principal payment of 518,000.00.
Thereafter Parcel III. shall be released upon payment of the balance
due under the mortgage.
The releases shall be in sequence, that is, Parcel I. shall be
released first, then Parcel II. and lastiy, Parcel III. All payments
for releases shall be applied to the last accruing principal payments
~~~~r~ i.i~r ~~vi.e. ni i cvsLS oT preparaLion oT releases snal t be borne
by the mortgagors.
The legal descriptions of the parcels to be released are as follows:
Parcel I.
Begin at the Northwest corner of tot 230 of ~lhite City Subdivision,
as per Plat thereof on file in Plat Book 1, page 23 of the Public
Records of St.~Lucie County, Florida; thence run S00°O1'09"E, along
the West line of said Lot 230, a distance of 293.85 feet, to the
POINT OF BEGINt~ING: thence run S89°57'17"E, a distance of 332.06
feet; thence run S00°02'07"E, a distance of 205.81 feet; thence
run S89°57'll"E, a distance of 11a.60 feet, to the Northwest corner
of Lot 18, Block 2 of an unrecorded plat of "4Jaishes Subdivision"
as per map of survey by J. W. Whitice and dated February 15, 1957;
thence run S00°02'00"E, along the West line of said Lot 18, Block 2,
a distance of 133.12 feet, to the Southwest corner of said Lot 18,
Block 2; thence run N89°58'04"W, a distance of 446.75 feet; thence
run N00°O1'09"W, a distance of 339.03 feet, to the POItiT OF BEGINNING,
all lying and being in Section 10, Township 36 South, Range 40 East,
St. Lucie County, Florida, and containing 2.9347 acres, more or less.
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