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-~onita~t or contrects for the purcha~e of petro2eum producta and
:z~ces~ories, now or hereafter in ef~ect between the undersigncd, ss
~urchaser, and the payee, or its nomtnee, as seller, or of ~ny other
~~ntracts now or hereafter i~ effe~t between the parties, or if at
a?~y time no wriCten contract is in effect for the purchase of
petrolewm produCts and acceasuYies betwe~n the under~tignr~d, as
~urchaser, ~nd the payee, or its nominee, as seller, then in ~ny ~su~h
case, the whole principal debt, at the option of the payee, it,~
successors and aesigna, shall become due and payable with interest
from the dete of such default or eventuslity at the maximum rate o~
interest permitCed by law, vithouC notice or de~u~and.
AND ALSO all personal propesty sccounts receivable and other
intangilbe personal property heseafter acquired by the mortgag,or
sha21 be covered by this mortgage.
TiJ HAVE AND TG HOLD a11 and singular the said goods, ~hattels,
accauntg receivable and other personal property, iricluding after
acquired prop~rty, unto said Mort~agee, its successors and as~igns
forever.
AND, Che eaid Mortgagor for his heirs, successoss and assigns,
covenants with the esid mortgag,ee, its succee~ors and assigns, that
it ia the lawful owner o~ all and singular the said propearty above
bargained a~d sold; that said property is free from all encumbrances;
that it has good right to sell the s~me as aforesaid; and that it shall
and wi11 warrant and defend the ~ame unCo the said mo~rtgage~, its
successorg and assigns against the lawful claims of all and every
person or persons whomsoever.
PROVIDED, ~LWAYSs and these presents are upon the express condition
ehat if Che said Mortgagor, his succesaors and agsi.gns, shall we11
and truly pay to Che said mortgagee, its successors and assigns, on
demand, the said su~ or ~un~s hereinbefore mentiorred, representing
advances of money or credit hereto£ore made to the ~oztgagor by the
mortgagee, or otherwise, and sr~all we11 and truly p.~y to the mortgagee
such fur~her sums of money or loahs or advane~s of credit as the
mor~tgag~ee may gdvance to the mortgagor f~rom tiwe to tir~e, or whi.ch
may become owing by the I~ortgagor to the mortgagee at any time here-
after during the continuance of the lien crea~ed ~y thia mortgage
with interest at the rate of 6 per cent per annum, payable monthly
on amounts remaining from time to Cime unpaicl; and also all expenses
thaC may or sha11 accYUe in ~he event of Che foreclosure of this
~ortgage or the collection of said iridebtedness ar any part thereof
upan demand of any attorney, re~sonable attarney's fees and Court
Costs includ~d, then these preaents shall be void, otherwise to
semain in full force and virtue.
All amounts cywing to the mortgagee as hereinbefo~ce provided shall be
~~cured by Che lien of this mortgage, equally and ratably, and no
amaunt shall hav~ priority over any other amount by reason of date,
maxur~ty, date of advancement, assignmenC or otherwise, it being
ttte intention of this mortgage to secure to th~ m~rtgagee all amounts
hereinbefo~e provic3ed for upon an equal basis and wi.thout prefer~nce
or priority of one sum or one add~ncement over any other Bum or
advanc~ment.
The Mortgage~. will, upon written request of the Mortgagor, reZease
from the lien of tihis mortgage any property herein descri~ied or
after acquired by the Mortgagor, upon paymenC to the mortgagee of
the reasonable value thereof, which shall be determined by the
f mortgagee, or upon the subst~tution of like property of equal eo
~ or greater value Chan the va~ue of the property so ~eleasea,
i
~ The moztgagors' accounts receivable, now or h~reafter o~aing to it
; shall at all times be covered by the 13.~n of this morCgage, but
said accounts receivable may be culle~ted and used by the morCg~gor
in i~s business so ~ong as the mortgagor shall not be in default
hereund~r.
The mo~rtga~or covenants th~t it wi1Z keep the mor~gaged property in
good repair and condition so long as this mor[gage ~hall constitute
a li~n thereon, and will promp~ly pay all taxes, levies and assess-
men~s thereon before the same become deiinquent, and will keep said
property insured against fi~e and windstorm (and also theft of
automoC~ve equipmen~} to its full insurable value with mortgagee
ChSttel Mor~gage - Z - :~,~Pr 4~ ~
Line of Credit - 2 of 3 _