HomeMy WebLinkAbout0021
~U~K 1'/ Pal( 1~
~ T, LlICi rOliNTT" n.~.
or to the solvency or insolvency of the MortRagor, its successors or
assigns, or of the defendants in that suit. Those rents, profits, income,
issue" and revenues should be applied by that receiver according to the
lien o!' equity of the Mortgagees, the heirR or assigns of the Mortgagees
and the usual practice of that court.
10. IT IS AGREED BY AND BETWEEN THE PARTIES HERETO that
this is a pll'Chase money mortgage, and the Mortgagor herein agrees that
any default uf.. any nature by the Mortgagor. in fulfilling the terms l?nd con-
ditions of a certain promissory note (or obligation) owing by Gene T" Dyer
to General Electric Company. the payment and performance of which has
been assumed by the Mortgagor, shall be deemed to and shall constitute a
default in this mortgage. and in the event thereof. the holder hereof shall
have the right to place the said not:e of the General Electric Company in good
standing, and to add the cost and expense thereof to the principal balance of
this mortgage without waiving the default in this mortgage.
11. The total amonnt of indebtedness secured hereby may decr.ease
or increase from time to time. but the total unpaid balance so secured at
anyone time shall not exceed the principal sum of $155.795.00 plus interest
thereon and any disbursements made for the payment of taxes. levies or
;nsurance on the property covered by the lien of this mortgage, with interest
thereon; and this mortgage shall ~ecure any and all additional or further
monies which may be aavanced by Mortgagees to or in behalf of the Mortgagor
after the date hereof, by reason of any default by the Mortgagor in fulfilling
the terms and conditions of the promissory note (or obligation) owing by
Gene T. Dyer to General Elect'f'ic Company. and subsequently assurre d by the
Mortgagor, which future advances, if made, shall be made not more than
ten years after the date 'hereof. Nothing herein contained shall be deemed
an obligation on the part of the Mortgr.gees to make any future advances.
12. This mortgage shall be simultaneously executed in two counterparts.
-7-