HomeMy WebLinkAbout1972 5. To perform, comply with and abide by each and every the stipulations,
agreements, conditions and covenants in said promissory note, and in this
deed set forth.
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 pay-
able, or if each and every the stipulations, agreements, conditions and 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 pro-
missory 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 originally 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 o~tions herein provided shall not constitute a
waiver of any such rights and aptions under the aforesaid note or this mortgage
accrue~ or thereafter accruing.
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7. This Mortgage is made, given and accepted with the understanding that
the Mortgagor, its successors and assigns, shall have the right to release
portions of the praperty encumbered hereby provided this Mortgage, or the
note 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 i~terest a tract of land
consisting of 100 feet running from South to North and extending from the West
~ boundary of the mortgaged praperty to xhe East boundary of the mortgaged
property shall be released simultaneously from the mortgage upon presentment
of said respective installments or sooner if prepaid.
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