HomeMy WebLinkAbout0991 (ii~ The building in which the unit for which
' release is requested has been submitted to condo-
minium form of ownership, and the Declaration of
Condominium therefor has been filed of record in
form and content approved by Mortgagee, who will
not unreasonably_ withhold consent thereto, but
such consent shall not be a subordination to
purchase and sale agreements for such units and
shall so state.
(iii) The b~ilding and surrounding lands-
caping, paving and common areas in which the unit
is located have been tot.ally completed and a
Certificate of Occupancy for the building in which
such unit is located has been issued by appro-
priate governmental authority, on an unconditional
and permanent basis.
(iv) Mortgagee receives from Mortgagor in a
cashier's check the following sums, per Unit for
release of units in the building containing 39
Units, (which sums will be appfied first to pay-
ment of interest and then to principal):
~
i
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~ tf receipt of payment is on
i or before October 1, 1982, then $10,000.00
i
~ If payment is after October 1,
~ 1982, .then ~15,000.00
~
¢ (v) Mortgagee receives from Mortgagor in
~ cashier's check the following sums per Unit for
1
i release of units in the building containing 95
~i
f units (which sums will be applied first to payment
F
€ of interest and then to principal):
; y
_
If payment is on or before
October 1, 1982, then $12,000.00 ;
~ i
If payment is after October 1, {
~ 1982, then ~15,000.00 ,
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