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and in further consideration of the agxeem~nts, covenants, conditioas
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and stipulations aontained in this instrumeat~ it is hereby covenanted
, agreed and stipulated as folloast ~
~I l. That thexe remains unpaid and evidenced by said pxomissoxy
j~ note dated Septembex 24~ 1965 and secuxed by said mortgage dated
iy September 24~ 1965 the pxi~ncipa?1 balance af $478~000.0o togethex ~tith
interest thereon at the rate stated i.a said promissoxy note fYOm and
is
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~ aftex this date. ~
i 2. That there remai.ns unpaid and evidenced by 8aid pxomissoYy
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note dated August 23~ 196? and secuxed by said moxtgage dated Augu~t 2
~i 1967 the rinci al balance of 200.00 to theY with intexest theYeo
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at the xate stated in said promissoxy aote from and after thi.s date.
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3. That sai.d mortgage dated August 23~ 1967 shall be and same
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is hereby mexged and consolidated Nith said mortgage dated Septembex 2
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1965 to the same extent and as fully as if the amount of money
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originally secured and evidenced and inteaded to be secured and I ~
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;i evidenced by sai.d mortgage dated August 23~ 1969 and the note secured !
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j; thereby had been originally and simultaneously loaned and advanced at ~
y~ the ti.me of themaking~ execution and delivery of aaid mortgage dated ~
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September 24~ 1965 and the note secured thereby~ and to the same extent;
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and as fully as if said moxtgage dated Septembet 24~ 1965 and the note ;
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f secuxed thexeby had, at the time of their execution and delivexy, been j
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~ aa?d~ to secwre the gross priaca.pal sum of $522~200.00 instead of the ?
~ gxoss principal sum of $478~000.00; however~ the mortgago= hereby agYee~
to xepa~y the gross and consolidated indebtedness of $522~200.00 and . ~
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3.ntexest unpa?id thereon uuto the Bank in accoxdance with the pxovisionsj
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of pazag~raph number 4 of this consolidation agreement. ~
4. That the said two pxomi.ssory notes i.n the respective ~
principal amounts of $4?8~000.00 and $44~200.00 sha11 continue to
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evidence the gross and consolida?ted pxincipal indebtedness now unpaid
~ in the total amount of $522~200.00 (bei.ng the aggxegate of the unpaid
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~ principa?1 balaace evidenced by sai.d two promissoxy notes and secured by'.
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said two mortgages as--set forth in paxagraphs numbered 1 and 2 hereof).!
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The said two promissosy notes and the said two moxtgages xefexxed to ~
hereinabove ase hereby conaolidated aad me~tged ~nto one debt and
: obligation aad aaid moYtgages shall hencefotth~ acting fxom the date of ~
these preaents~ coasti.tute~ be and fotever remain a fiYSt lien onthe
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~ _ . ~ . 167 ~ 2$65 `
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