HomeMy WebLinkAbout2134 ~ ;
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release ~n pareel~ of no~ le~~ than ~100 feet o~ w~ter fron~ footage
~ and 500 f~et in deptih, frc9aa tohe wat~x frant a~nd eai~l parcels ehall
, ~ b$gin From ths we~t boundary of the pxop~rty ~nd run in cont3.guous
parcels frau west to ~ast and ~ucYi rc~leasea shall be allowed ~u include
only th~ West 660 feet oE river frt~nt property of the land being sold.
~ All pa~ments for releases of land shall b~ ~?pplied to the
~ maturing irastallmen~ o£ principal maturing under the note secur,ed
hereby. ~ayments m~d~ on accaunt of the note s~cured hereby, where
~ • euch paymentffi are other than thoee which were made for the release~of
land. shall Zikewise enti~le the Moricgagor to receive r~lea~e~a coa~puted
i» aecordance with the terms above set forth, except that release of .
~ tract~ of less than ten (1Qj acrea each may be pxocured in ~onnection
with the payment of an annual installment of.the note secured hereby
and the amount so paid on $uch annual :Lnatallment is less than the
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amount nec~ssary to procure a release of at least t~n ~10) acrea of
~ ~ land,
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Irro~ap~ctive of mattera set ~ut hereinabove p~r~aining to
•gartial rel~aasea, it is agreed that the parcels o~ land allocated a~nd
~ de~cribed aa th~ "h~ame property" shall no~ ba releaaed until the
~ . mortgage is pai3 in ful1. ~ •
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~ ~ ~ The Mortgagor agrees ta pay such seaeonable expenses as are ~
~ ~ incurred by the Mortgagee in connection with the preparatian of euch
~ ~ releases. . ~ ~
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~ The Mortgagee covenante and agreee with the Mo;tgaqor that tha ~
~ Mortgagee will, fran time to tirae, join i~ plate or replats (or ~
z rezoning) of unreleased pontiona of the property e,neura}~ered hereby. ~
~ 3aid release to be for roads and etreets and =eaeonable wa~erways e
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pxovided that l~ortgagee shall not have to execute any release until the
~ glat os pl~ts have been approv~d by St. Lucie County. The joinder by
~ the A~ortgagee in any plats will acknowledge, in effect, that ~.he lien
of thi~ mortgage, as ta dedicated portfona, ie subord~na~e and subject
~ to the plat or plate and to any dedications expressed therein, 3an all
~ reapects. The joinder by the Mortgagee in any plats shall not b~
deemed or construed as rendering the Mortgagee liable for the paving
~ of any ~treets ahown on the plat or plats, or for any other obligations
~ - a~sumed by the Mortgagor in conmection with the eaid plat or plat~.
~ It is underetood a -
nd agreed that the Mortgaqee will be .
~ permit~~d to resid~ in the "hame glace" without rent for a period of
~ eix (6) months fraa date of this aiortgage. Mortgagee will pay for the
~ ~ ut3.li~ies and maintain yard surrounding "hc~me place",
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It is furthes agreed that irrespective af tfie proviaions ~aade
. - _ - ~ _ - - ~ _ ~ ~ _ > > _ - - • ~ ~?r~ e M~~ ei a f n~ 1~~1~
~ =Or ~trL~.aZ Leusscaac~ iQic+. o.:..'ar py~r`.~~,~_-_.. n~`vRtl. nf s~il
~ and excavatione and digging of canale, the Mortgagor shall at all times
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~ - laaintain a roadway that is open and us~able through the property being
~ . sold to ths "h place" of the Mortgag~ao descrfbed herein, and the~
Mortqaqee ehall~~nsidered to have an ease~aer~t at alll tiaaes through .
t he property be i ng sold to th~ "hom~ place" until this iaortgage is paiid ~
~ oFf in futll. ~ .
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