HomeMy WebLinkAbout0066 te) The mortqagors shall have, and they reserve,
the right to ~repay one or more installments
~ ° . '~~L` , or ~efore ~ . ~
on said nnte or~/ any 26th da~_t~f October, which
~Lr.
prepayment shall be applied in inverse order
commencing with the installrnent becomeing due
an October 26, 1974;
provided, howevei, ~hat in the event that the mortgago~s defauZt
in the prompt payment of principal or interest provided to be paid
und~r the foregoing ~chedule of paymerits, and such ~ detault
ce~ntinues for five (5) days, or default in any of the covenants,
agreements or conditions to be k~pt, performed or discharged by
them under their said initial mnrtqaqe ~eed dated October 21, 1963
(excepti:~g payments of the mortgaqe note herein describpd) ~z under
this CONFIRMATORY A~ID SUPPLEMENT~iL, N!~RTGAGF ~EED AND ~XTENSION
AGREEMENT, then at the elec~ion of the mortgagees, or th~ holders
of the said mortgage note, the provisions of this Paragraph I of
this Agreement shall be af no further force and effect and the
mortgagors, upon demand tt~erefor, shall and agree to pay the ori-
ginaZ mortgaqe note acc~r~ing ta its tenor ~nd any payments made
hereunder then sha?1 be applied upon s~ic~ original m~rtgaqe note.
II. The mor.tqaqors promptly upan receipt thereof sh~ll
pay a1~ proper bills af United Grove Caretakers, Inc. and ar~y
other grove caretakers or persons providing trees, labor, material~
or ser~vices ~o or upon the property mortgaged and ~onveyed he~eunder,
and failure to do so within thirty (30} days ~fter receipt of
such bi11 shall ~onstitute a default hereunder.
III. The martgagors shall and agree on or before ~
February 15, 1966 (weath~r permitting) ~o replace alI. skip~ and
missing trees in the young grcave area of the p~-operty mortgaged
anci cc~nveyed her~under.
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