HomeMy WebLinkAbout1901 - 8 -
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(a) Failure to pay tbe amount oY af~r ine~allment o! prin-
'~ipal and interest~ or other obargee pa~yable on the
Note, which ehall bave beaome due, prior to tbe due
date of the neat euch inetallment;
(b) Nonperformanoe by the Mortgagor o~ any aovenant, agree- ~ .
ment, term or condition o~ thie Mortgage, or ot the
' Note (eaoept ae otberwiee provi8ed in eubdivieion (s)
~
hereot) or of any other agreement hereto~ore, herewith ~
~
or bereafter made by the Mortgagor Mitb the Mortgagee
in conneation with euah indebtedneee, aYter tbe Mort-
• gagor hae been given due notice by the Mortgagee of .
•euch nonperformance;
(a) Failure oY the Mortgagor to perform any covenant, ~
agreement, term or condition in any inetrument creating
- a lien upon tbe mo~etgaged property, or a~y part thereof, .
which ehall have priority.over the lien o~ thie Mortgage;
(d) The Mortgagee's diecovery o~ the Mortgagor'e failure
in any application of the Mortgagor to the Mortgagee ~
to.diacloee any fact deemed by ~he Mortgagee to be
material, or of the making therein, or in any of the
. agreemente entered into by the Mortgagor with the
Mortgagee (including, but not limited to, the Aote and ;
thie Mortgage) of any mierepreeentation by, on behalf
oY,~or ~or the beneYit o~, the Mortgagor;
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(e) The sale, lease or othe~c tranePer o~ any kind or nature
o~ the mortgaged property, or any part thero~, without ~
the prior written coneent o~ the Mortgagee;
The Mortgagee'e failure to eaerciee any oY ite rights hereunder
shall not conetitute a waiver thereo~. All the evente in th~e ~
Paragraph enumerated upon the happening of any of which the Aote ~
I
ahall become, or may be declared to be, immediately due and payable, {
_
are in thie Mortgage called "evente of deYault". ~
12. The Mortgagee may from time to time cure each default , i
;
under an~ covenant or agreement in any inetrument~creating a lien '
~ upon the mortgaged property, or any part thereof, wbich ehall have
priority over the lien o~ thie Mortgage, to euch eztent ae the
Mortgagee m~y eaclueively determine, and eacb emount paid (if any) .
by the Mortgagee to cure aR,y euch default ehall be paid by the ~
Mortgagor to the Mortgagee; and the Mortgagee eball aleo become ~
eubrogated to whatever rigbte the bolder o! the prior lien migbt
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have under euch inetrument. _ •
~ ao «175 ~~898 ~ ~
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