HomeMy WebLinkAbout1257 • . . - _ - - - - . • ~
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: TO AAVS AND TO SOLD the same, each and every, together ~rith
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. the attac2m?ents and appurtenances, unto the said Mcrtgagee Porever. ~
AND said ~ortgagor covenants xith said Mortgagee that said ~
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~ Mortgagor whoily and solely o~ma said Tquipment, abeolutely; that
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~ the said M~ortg~e~gor ha~s f~ill power and lawRil rigYit to sell and
convey the Bame, all and singular, as aforesaid; that~eaid Equip-
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; ment is lree and clear of ar~y and all adverae claims, liens and
. encumbrances; a~c~d that said Mortgagor hereby Ril.ly warrants the ,
~ ; ~ title and o~mership oP said Equigment, and wi].1 dePend the same
~ a~inst the claims oP all peraons t~ho~soever. ~ ~ ~x
~ ~ PROVIDED ALWAYS, that if' said Mortgagor shall pay unto the ,
said Mortgagee the sums stipulated in the Term Loan AQ~reement be- '
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~ t~een the parties hereto dated July 31,.1963, a~cid those txo certaln ~
. . promissory notes dated July 31, 1963, and June 29,.1964, ~ro~
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. ~ Mortgagor to Mortgagee in the respective original amounts of - ~
, $2,~60,000.~0 and ~0,000.00,~ and all other fliture advances, i! . -
~ - any, as~the Mortgs,gee may hereafter during the continuance of ~
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these presents advance to the Mortgagor on the security hereo! . =
' . within twenty ( 20 ) years fr+om the date' hereof, provided that the
, ~ total unpaid balance so secured at'any one time shall not exceed
, $2,500,000.00, plus inte'reat thereon, and ar~y disburaementa ~ made ~ i:
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for the payment of
taxea, leviea, or insurance on the property
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: -.~covered by the lien, xith interest on such disbursements,:~and
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~ - shall perfoz~n, comply with and abide by each and~every the ~
stipulatlon8, agreements, condition8 and covenants of the afore- ~
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~ _ Ba1d pra~?issory no~e8 and oP thia mortg~age, then thia mortgage ~
~ and the eetate hereby created shall cease, determine and be ~
~ ~ rntll and void. ~ ~
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~ ~ FRTRTI~R WA;RRANT~3 AND C0~IENANTS OF THL MORTGAQOR
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~The ~rtgsgor hereby waacrants snd covenante: .
. • - l. To pay all and singular the princigal and interest ~
; . _ and•other awna of money payable by virtue ot the.above rererenced '
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~ . ~ . . ~ ~ . . . ' ~ „ ~ $b~i • " r~~ ~ ~ : . ~ ~
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