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HomeMy WebLinkAbout1449 ~ ~ ' ~ - 6 - amou~t of the loan evidenced by the Note, interest and other charges, as provided in the l~ote, the Mortgagee may at its option make such paynent. ~,,very payment so made by the 1'~ortgagee (including reasonable attorney's iees incurred thereby), with inteic;st thereon from the date of such pay- .~ent, at the~rate of three per cent (39~) per annum, except any payment ior which a different rate of interest is specified herein, sh~ll be pay- able by the Mortgagor to the Mortgagee on demand and shall be s~rsd by this Mortgage: This Mortgage with respect to any such a.mount a the in- terest thereon,-shall constitute a lien on the Mortgaged property prior to any other lien attaching or accruing subsequent to the lien of this I~lortgage . . 10. lhe Mortgagee, by any of its agents or representativ~s, shall :~ave the right to'inspect the mortgaged property from time to time at any reasonable hour ~f tbe day. Sbould the mortgaged property, or any part thereof, at any time require inspection, repai~, care or attention of any' " '~ind or nature not provided by tbis Mortgage as determined by the Mort- gagee in its sole discreti~n, the Mor~gagee may, a~ter notice to the T~~ortgagor, enter or cr~use entry to be made upon, tbe mortgaged property, ~nd inspect, repair, protect, care for or maintai~ such property, as the ~Zortgagee may in its sole discretian deem necessary, and may pay all amounts of money therefor, as tbe Mortgagee may in its sole discretion deem necessary. ' . '!1. The prir,cipal amount owing on the Note together with interest thereon and all other charges, as therein provided~, and all other amounts . of money owing by the Mortgagor to the Mortgagee pursuant to and secured by this Mortgage, shall immediately become due and payable without noti~e or demand upon the appointment of a receiver or liquidator; wbetY~er vol- i ~ ~ un~cary Q~ involuntary, for the Mortgagor or any of the property of the ~ ;~iortgagor, or upon the filing of a petition by or against the Mortgagor ~ under ~the provisions of any State insolvency law, or under the provi- i ~ sions of the Bankruptcy Act of 1898, as amended, or upon the making by ~ t~e Mort a or o~ an assi ment ~or tbe benefit of the Mortgagor's cre- ~ g g ~ . f ditors. Tne Mortgagee i's authorized to declare, at its option, all or any part o~ suc'n indebtedness immediately due and payable upon tbe happening o~ any of ~he ~ollowing events: ~ (a) Failure to pay the amount of any installment of principal and inte~est, or other chargea payable on the Note, which shall have become due, prior to the due date of the next " such installment; ~ (b) N~nperformance by t:~e i~iortgagor of any covenant, agreement, , term or condition of this Mortga~e, or of the Nots (except ~ as otherwise provided in subdivision (a) hereof) or of any otiher agreeme~t heretofore, herewitb or hereafter made by the Mortgagor with the Mortgagee in connection with such indebtedness, after the Mortgagor has been given aue notice by the Mortgagee of such nonperformance; ~ (c) Fail.ure of the Mortgagor to perform any covenant, agreement, term or condition in any instrument creating a lien upon the - aooK180 ~~~~.446 ' _ - _ F y~# .~h~-i- n« ~ _.~...e_~a_-. L e ~y,~3`~ .