HomeMy WebLinkAbout2648 I. .
Sub-section 8, comprisinq paqea 5 and 6 of the mort-
qaqe, is deleted in its entirety and a new sub-section 8 is substi- .
tuted therefor as follows:
8. The mortgaqor further covenants and aqrees as follows:
To perniit, comQ~t or suffer no waste, impairment or de-
terioration of said property or any part thereof, ex~eptinq however,
that the doinq of either or both of the followinq by the mortqagor,
t~-wit:
(a) The excavation and Ziqginq of canals aad the
~creation of artificial lakes or waterways; or
(b) The removal and transfer of soil, rock.or much
from one area of the mortgaqed property to another area
oriqinally encumbered by this mortqaqe, _
will not constitute waste, impairment or deterioration of the mort-
,s=
: gaged property by the mortgaqor if such excavation, diqqing`t~~r re-
moval and transfer set forth in (a) and (b) do not materially reduce
; the value and security of the mortgaged property to the mortgagee.
The mortqagee has accepted tb.is mortqage, and the note it
~ secures, with the understanding that the mortgaqor shall never be
1 personally liable for the payment of any sums whatsoever by reason
of the makinq of the said note and the within mortgage, or by reason
of default in the performance of the terms of said note and the
within mortqaqe, the mortqagee havinq covenanted and aqreed wifih
the mortqagor that the enforce~nent of the riqhts of the mortgagee
under the said note and under this mortgage is limited to the se-
curity of the real property which is encumbered by this mortqage.
Nothing herein contained shall be construed as prohibitinq the mort-
gaqee from having any and all remedies which the law and this mort-
qage, and the note it secures, permit, so long as any such remedy
does not include or extend to the seekinq or obtaininq of personal
liability aqainst the mortqagor.
So lonq as no default exiats as to~any provision or cove- €
nant of this mortqage or the promissory note which it secures, the
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