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HomeMy WebLinkAbout0466 . - 6 _ amount of the loan evidenced by the Note, intereat and other charges, as provided f.~ the Note, the Mortgagee may at its optio~ make such payment. Every payment so inade by the 1'~ortgagee (including reasonable attorney's feee incurred thereby), with intereet thereo~ fram the date of such pay- ment, at the'rate o~ tbree per cent (396) per~a~num, exceFt any paycaent for which a dif~erent rat~ oP intereat is speciYied herein, shall be pay- able by tbe Mortg~~or to the Mortgagee oti demand and shall be eecured by this Mortgage. Thie Mortgage witb respect to any eucb amount and the in- terest tbereon, shall conatitute a lien on the Mortgaged property prior to any otber lien attacbing or accruing subsequent to the liQn u~ tbis Mortgage. 10. The Mortgagee, by any o~ its agebts or repreee~tatives, shall have tbe right to inspect tbe mortgaged propert~ from time to time at any reasonable hour of tbe day. Should tbe mortgaged property, or any part thereof, at any time require inapection, repair, care or attention o~ any' ' kind or nature tiart provided by tbie Mortgage as determined by tbe Mort- _ ~agee in ita sole di~cretion, the l~ortga~ee may, after netice to tbe . Mortgagor, enter or cause entry to be made upon, tbe mortgaged property, and inspect, repa~r, protect, care for or maintain such property, a~ tbe i~ortgagee may in ite aole diacretion deem neoeseary, and may pay all amounts of money tberefor, ae tbe Mortgagee may in its sole diecretion ~ ~ deem necessary. . , ~ 11. The principal amount owing on tbe Note together witb intereat thereon and all other charges, as tberei.n provirled, and all otber amout~ts ~f money owing by? tbe Mortgagor to the ~iortga~ee pursuant to and secured - , by thi9 Mortgage, shall immediately become due and payatile witbout notice or demand upon the appointment of a receiver or liquidator, wbetber vol- untary or involuntary, tor tbe Mor~gagor or any o~ tbe property~of tbe I~iortgagor, or upon the filing~of a petition by or against the Mortgagor under the provisions of any State i.naolvenoy law, or under the~provi- ~ sions of the Ba~kruptcy Act of 1898, as amended, or upon the~making by - tbe Mortgagor o~ an assignment for the benefit o~-tbe Mortgagor's cre- ditors. The Mortgagee fa authorized to declare, at its option, all or any part of such indebtedne~e immediat~ely due and payable upon the bappening of a~y o~ tbe Yollowing events: • ~ (a) Failure to pay tbe amnunt o~ a~;~ installment of principal ; ~ and interest, o~r otber~cbarges payable on tbe Note, which ~ ; shall have become due, prior to t~e due date o~ tbe neut ~ such installme~t; ~ t F (b} NonperYormance by the Mortgagor of any covenant, agreement, term or condition of th3.s Mortgage, or oY tbe Note (except as vttrerwiee provided in subdivieion (a) hereo~) or oY any ~ other agreement heretofore, herewitb or bereafter made l~y the Mortgagor witb the Mortgagee i~ connection witt~ such indebtedneas, after the Mortgagor has been given due notice by tre Mortgagee oY sucb nonperformance; (c) Failure o~ tbe Mortgagor to pertorm any coveuant, agreement, ~ term or condition in any_inetrument creating a lien upon the ; . ~ - ~ ~ q~~ ` ' ~ ~K ~ ~ h- ~ • . ~ ~ , - ~ . a~ 3 .