HomeMy WebLinkAbout1964 5. To perform, comply with and abide by each and every the stipulations, ;
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agreements, conditioris and covenants in said promissory note, and in this '
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6. If any of said sums of money herein referred to be not promptly and
fully paid within thirty (30) days next after the same severally become due {
and payable, or if each and every the stipulations, agreements, condirions and
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covenants of said promissory note, and this deed, or either, are not fully
performed, complied with and abided by, the said aggregate sum mentioned
in said promissory note shall become due and payable forthwith or thereafter
at the option of the Mortgagees, their successors and assigns, as fully and
completely as if the said aggregate sums mentioned in the promissory note
secured hereby were originaily stipulated to be paid on such date, anything
in said promissory note or herein to the contrary notwithstanding. Failure
by the Mortgagee to exercise any of the rights and options herein provided
shall not constitute a waiver of any such rights and options under the afore-
said note or this mortgage accrued or thereafter accruing.
7. This Mortgage is made, given and accepted with the understanding that
the Mortgagor, its successors and assigns, sha11 have the right to release
portions of the property encumbered hereby provided this Mortgage, or the
nae secured hereby, is not in default at the time the release is sought and
payment of the release price is made; and, in connection with the giving of
said releases, the parties hereto understand and agree as follows:
(A) That upon each of the first, fourth and last of the respective
payments of the mortgage installments of principal and interest a tract of
land consisting of 100 feet running from i~vrtfitn 9~uth and extending from
the West boundary of the mortgaged pro~erty to the East boundary of the
mortgaged praperty shall be released simultaneously from the mortgage upon ;
presentment of said respective installments or sooner if prepaid. ~
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