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HomeMy WebLinkAbout0971 - 8 - (a) Failure to pay the amount of an~ inetallment oY prin- cipal and intereet, or other chargee payable on the ~ Note, which ehall have become due, prior to the due date of the next euch inetallment; ~ I (b) Nonperformance by the Mortgagor of any covenant, agree- ment, term or condition of thie Mortgage, or of the ' ~ ~ Note (eacept as otherwiae provided in eubdiviaion (a) ~ hereof) or of any other agreement heretofore, herewith or hereafter made by the Mortgagor with the Mortgagee in connection with such indebtednese, after the Mort- gagor hae been given due notice b~ t~e Mortgagee of euch nonperformance; (c) Failure of the Mortgagor to perform any covenant, agreement, term or condition 3~ any inatrument creating a lien upon the mortgaged property, or an~ part thereof, which ahall have priorit~ over the lien of thia Mortgage; (d) The Mortgagee's discovery of the Mortgagor's failure in any applicati on of the Mortgagor to the Mortgagee to disclose any fact deemed by ~he Mortgagee to be material, or of the making therein, or in any of the a~reemente entered into by the Mortgagor with the Mortgagee (including, but not limited to, the Note and this Mortgage) of any misrepreeentation by, on behalf of, or for the benefit of, the Mortgagor; ! (e) The sale, lease or other trans~er of any kind or nature ~ ` of the mortgaged property, or any part therof, without the prior written conaent of the Mortgagee; ~ The Mortgagee'a failure to ezercise any of ita righte hereunder shall not constitute a waiver thereof. All the eventa in th~e Paragraph enumerated upon the happening of any of whic~ the Note ahall become, or may be declared to be, immediately due and pa~able, are in this Mortgage called "eventa of default". 12. The Mortgagee may from time to time cure each default under any covenant or agreement in any instrument creating a lien ~ upon the mortgaged property, or any part thereof, which shall have - priority over the lien of this Mortgage, to euch eatent as the Mortgagee ma~ eacluaively determine, and each amount paid (if any) b9 the Mortgagee to cure any such default ehall be paid by the Mortgagor to the Mortgagee; and the Mortgagee shall also become aubrogated to whatever rights the holder of the prior lien might , z have under such inetrument. ` aooK 175 ~ 968 ~ - - ~ . ~ ~ t_ `~~'.4~,~„_~~a~~. ~_-~y- _ ~ .