HomeMy WebLinkAbout2507
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OIl thl' il1tkbtl'dIlt'SS Ill,!,,'b)' s,', 1I1"ed.
7. The rents ancl l)l'ofits of t1H' mortgaged
prllpel.ty at',' also Ill~I't'by mortgaged and assigned to
\IOI'tgagee, and if proct'cdings to fo/'t'dos(' this mol'tgaw'
shall be institutetl, till' COlll't having jUl'isdidion thel'l'of
should appoint a n~('(~iVI'I' of the mOI'tgag('ci pl'opel't)" and
apply those l'ents and pl'ofits to the indebtedness lH'n'by
Sl'('ul'('d, t'egal'dh-ss of tlw solvenl'y of the ;vlol'tgagol' 01'
till' adequ3.L'Y of the secul'ity.
PHEPA Yi\l ENTS AND HEI. EASES
\lortgagol' may not pl'l'pay till' pl'inl"ipal
ithlebtcdnl'ss clue hereundcr exccpt that tl1I' pl'incipal balance
dll(' together with accnled intcrest to the date of paYlnent
upon anyone 0:' more palTels as set foI'th in Exhibit A
attached hel'eto may be pI'epaici upon a mcnthly amortization
cia te p rovicieci that i\Iortgagor shall ha ve gi ven Mortgagee
30 days wl'itten notice of its intention to so prepay and
shall pa,Y \lortgagcc a pl'emillm of 1';;) of the principal
alnount pI'epaid.
Notwithstanding the foregoing \Iol'tgagor
shall have the privilege of prepaying the principal balanl"e
clue on not to exceed 10 parcels each year without payment
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of such prepayment pI'emi urn of 1 %.
At any time Mortgagol'
pays the entil'e principal balance due on a pan'el as set
forth In Exhibit A attached hel'eto,
SUd1 pa n' c I sha 11 be ' ., ,
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t'eleased from the lien of this mortgage.
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GENEHAI!I/sY. ELOI~fvIEN1 C0~J>ORA-TION"',
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By - ,I X,..-- ,~.
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!) President
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Attest: '
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~L' \.' ,'. I ~ >' /' 1/
Assistant Secvetary
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