The URL can be used to link to this page

Home My WebLink About1411 rwdified and that hereafter, effectivs as of and fra~ the date of this agreement, the follawinq prepayawnt privileqe, applicable to the prasant principal aaourt of the indebtednees aforeeaid, aball be enforceablez Privilege ie reeervad to make additional paynents on the principal of this indebtedneas on any data when interest becv~aae dus a~ad payablet provided, haw~ever, that the asaount so paid durinq any one calendar ysar shall not exceed ten (109L) per cent of the original principal amount. This privileqe ehall be non-cumulative. In additioa to the foreqoinq privilege, ma)cera ' reserve tha riqht to prepay this indebtednees in full after May 31, 1970, upon payment as coneideration for auch-privilega of a preaium equal to five (59L) per ceat of the unpaid principal balance for prepayment during tha fifth loan year of the oriqinal ~235,000.00 loan, said pretaiuu daclining at the rate of one-half of one (19G) per cent for each loan year thereafter through June 30, 19~8, and com~aencing July 1, 1978, the premium for prepayment in full shall be onie (19L) per cent of the unpaid principal balance of the indebtedneas. FOURTH: This ia not a new obliqation to pay money and the aforesaid original notea and mortgages, and all their terws, covenants, conditions, agreement8 and stipulations ahall remafn in full force ~ j and virtue, except as herein consolidated, coordinated and modified. ~ ~ FIFTH: Nothing herein contained invalidates or shall in- validate any security now held by the party of the second part for said debt, nor impair nor relea8e any covenant, condition, agreement, or etipulation in said notee and mortgaqes, arul the same, except aa herein consolidated, coordisated and modified, sha11 continue in full force an~d effect and the undersigned further covenant and'aqree to perforv, canply ~rith and abide by each and every of the covenants, aqreements, conditions and atipulatione of this aqreansnt, ae w~ell , a8 the covenants, agrse~ent8, conditions and stipulation8 of the eaid notee and nwrtqages which are not inconsistent herewith. Dtotbing herein contained ohall be conatrued to relea~e or iaipair the obliga- aooK174 ~1407 - 4- - ;