HomeMy WebLinkAbout2490 8. The nwrtqaqor further covenants and aqrees as foltows:
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To permit, commit or suffer no waste, impairmant or de-
,
terioration of said property or any part thereof, ex~eptinq how-
ever, that the doinq of either or both of the followinq by the
mortqaqor, to-wits ~
(a) The excavation and diqqinq of canals and the cre-
t
ation of artificial lakes or waterways; or ~
~ (b) The removal and transfer of soil, rock or muck
from one area of the mortqaqed property to another area
oriqina~.ly encumbered by this mortgaqe,
will not constitute waste,.~impairment or.deterioratio8 of the mort-
gaged property by the mortqaqor if such excavation, diqqing or re-
moval and transfer set forth in (a) and (b) do~not materially re-
duce the value and security of the mortgaged'property to the mort-
_ ,
gagee. ~
The mortgagee has accepted this nr~rtqaqe, and the note i£ _
secures, with the understanding that the mortqaqor shall never
be personally liable for the payment of any swas whatsoever by rea-
son of the making of the said note and the within mortgage, or by
reason of default in the perfonaance of the terms of said note and
the within mortgage, the mortgagee havinq covenanted and agreed
with the mortqaqor that the enforcement of the riqhts of the mort-
~ gagee under the said note and under this mortgaqe is limited to the
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security of the real property which is encumbered by this mort- '
qage. Nothing herein contained shall be construed as prohibiting
the mortqagee from havinq any and all remedies which-the law and
this mortqaqe, and the note it secures, penait, so lonq as any
such remedy does not include_or extend to the seekinq or obtaininq
of personal liability against ~he mortgagor.
~ So long as no default exists as to any provisio:~ or covenant
of this mortqage or the promissory note which it secures, the mort-
qagee shall release unplatted parts or portions of the premises
(which have not already been excluded from this mortgage) from the _
~168 ~,248~
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