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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