HomeMy WebLinkAbout1449 . , ^ ~ -r
a::~ount of the l~an avidenc~~d by the Nc~e, interest and othe~ char~es, as
~~rovided in tn~ ~Tote, tr,e :~iort~~:oee Qay at its opticn mane ~uch ~ayment.
:very~ pay~cent so msde by t;~e l`iortgabze ( iiicluding reasonable attorney' s
'ees incurred thereby), vrith inieresz thereon fro~ the date of such pay- ~
::.ant, at the r3te of three per cent (3~) per annum, except any payment ~
~~r w'nich a dif~ere:~t ra~e of interest is apecified 'nerein, sY:zll be pay- ~
able by the ~~rt~agor to ~he Mortga~ez on d~nand and shall be secured by
~:~is Mortgage. This Mortgage wit:~ respect to any such amount and the in-
Lerest thereon, s'n~.~l consti~ute a lien on the Mortgaged property prior
any other lien attaching or accruing subsequent to the lien of t'nis
:ortgage.
10. The Mortgagee, by any oi its agents or representatives, shall
^ave the right to inspect the nortgaged property from time to time at any
reasonable hour of the day. Should the mortgaged property, or any part
~hereof, at any time require inspection, repair, care or attention of any '
riind or nature noz provided by this Mortgage as d~termined by the Mort-
7agee in its sole discretion, the Mortgagee may, after notice to the
i~iUL' L~c1~UY' ~ ecii,ei vt C:cti:t~~ C[1 41~ T,u ~c uiciuc uyvi~ ~ v:;:: Lsc.~S::~ i%i ~r~.. ~
and inspect, repair, protect, care for or maintain such property, as tY~e
~:ortgagee ~ay in its sole discretion deem necessary, and may-pay all
amounts o~ money therefor, as the iKortgagee may in its sole discretiot~
deem necessary.
11. The grincipal anount owing on the Yote toget~er with interest
- , ~ ~ ~ - ~ - -
~~,cL~o:~, an3-al~ ~r~t~~r cnar e~ -_as_zis~rein- roviaea __ana a1~- o~Yier amounLS
~i money owing by the ~+fortgagor to the iiortgagee pursuant to and secured
oy this Mortgage, shall inmediately become due and payable v~ithout notice
~r demand upon the appointment of a receiver or liqui~ator, whetY~er vol-
Untary or involuntary, for the riortgagor or any of the property of the
' ::ortgagor, or upor: the i~ling of a peti~ion by or against the Mortigagor
; under the provisions af any State.insolvency law, or under ~he provi-
; ~~ons of the Bankruptcy Act of i8~8, as amended, or upon the making by
~ ~ae Mortgagor oi an assign~ent for the benef~t of the Mortgagor's cre-
~ uitors. lY:e ~iortigagee is autharized to declare, at its option, all or
~ any part oi such indebiedness immediately due and payable upon the happening
C
; of any of the following events:
t
€ (a) Failure to pay the a.mount of any installment af piincipal
~ and interest, or other charges payable on the ~7ote, which
~ shall have become due, prior to th,e due date of the next
~
$ ~
~ such installnen~;
f
~ ( o) ~~onper~or~ance by t::e ~fortgagor of any covenant, sgreement,
} ter~ or condition of t'~~~s Mortgage, or of the hsote (exc~pt
~ as otherwise provided in subdivision (a} hereof) or of any
a ot:~er agree~ent heretofore, herewith or bereaf~er made by
~ ~:~e Tfartgagor wit'n the i~or ~gagee in connection wit:~ such
~r.debtedness, after the Mortgagor has been given due notice
; ~y the T~ortgaoee o~ such non~er~ormance;
~
. (c) Failure af tr:e i.or~;gagor to perform any covenant, agreement,
~ term or condition in any instrument creating a lien upor, the
>
~
~ 600K 183 P~~E ~.448
L
= r~ -
_ ~
. _ : __~:~Y