HomeMy WebLinkAbout0717 ~ . ± B~CK ~t7~ f1?~~~ t3~U
TsXHYBIT A TO MQRTIiAG~ OF B. C. COOK & SONS, INC.~ B. C. COOK & SONS
GROYES, INC., B. C. COOK & SONS~ S. S. COOK & WIFS~ JIMHIS LO~T COO1C~
W. COOK & WIFB~ i~RLMA NAXCINC OOOK~ R.H. COOK,& wIF$~ MART COOK~ & B. F.
COOK & WIF~~ VFRA COOK . . .
Mortgagor agrees to obtaia or otherKise provide and mai~tain an insuraacs policy or
policies init~lly in•the amount oP Five ~iundred Ten Thousand ($510~000•00~ Dollare and
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to constantly maintain such policy ar policiss in said amount or at the outstandiang • t
balance of the indebtedr?ess evidenaed by the nots $ecured by this mortgage, whicbever y
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is less, aaid insurance to be on Lhe livea of Ruthertord H. Cook~ Jr.~ Buren S. Gook~
Jr. and Ronald (3. Haag, uatil the indebtedness.evidenced by said aate ie paid in ft~ll,
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Mortgagor agrees to aesign or have Autherford,H. Cook, Jr., Huren Caok~ Jr. ar~d
Ronald G. Aaag assign to liortgagee as additional eecurity for the paymanL of principal
only of the noLe referred to fn thi$ agreeme~nt the said life insurance policy or policiss.
Such policy or policiea ehall be iasued by a company approved by lrtortgagee and be in
form satisfactory to Hortgagee. Mortgagor agrese to ga,q the pre~oivms oa said policy
or policies if they are not pafd by-Rutherford H. Cook, Jr., Buren Cook, Jr. and
~ Ronald G. 8aag, ar~d in the event of failure of either to pay said premiums, Hortgagee .
shall have the right, but not the obligation, to pay the same and add the amount paid
to the indebtedness secured bq this mortgage.
In the avent of death of RutherYord H. Cook~, Jr., Huren Cook, Jr. and Ronald G.
Hasg before the paqnnent of the principal of indebtedness secured by this mortgage,
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' uartgagee sha71 hav~e the option to apply the insurance procseds to the payment of the
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` principal of the indebtednes~ or may al~ox p~t of the insurance proceeds to the
beneficia~iss of the oliciea xhose ri hts are b to the t.
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