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HomeMy WebLinkAbout1425 ~~~.w..~ . 1----•~'--=--' . . ~•3 • • • ~ - 6 - ~ , amount of the loao evidenced by the Note, intereet and other chargee, ae ~ i Frovided in tt~e Note, the Mortgagee may at ita option make euch payment. ' Every payment ao made by the I"~ortgagee (including reaeonable attorney's feee incurred thereby), with interest tbereoA from the date of sucb pay- ~ent, at the~rate of three per cent (39~) per annum, except auy payment for which a different rate of intereat is epecified hereiu, ahall be pay- able by the Mortgagor to the Mortgagee on demand and sY~all be eecured by this Mortgage. Thia Mortgage with respect to any euch amount and the in- • terest thereon, ahall constitute a lien on tbe Mortgaged property prior to any otber lien attaching or accruing subsequent to the lien of tbie Mortgage. ~ ~ 10. The Mortgagee, by any of ita agenta or representatives, shall have thz right to inapect the mortgaged property from time to time at anq reasonable bour of the day. Sbould the mortgaged property, or any part thereof, at any time require inepection, repair, care or attention of any kind or nature not provided by this Mortgage as determined by the Mort= gagee in its sole diacretion, tbe Mortgagee may, aYter not~ce to tbe ~iortgagor, enter or cauae entry to be made upon, the mortgaged property, and inspect, repair, protect, care for or maintain auch property, as tbe ~fortgagee may in ita aole diacretion deem necessary, and may pay all amounts of money therefor, as tbe Mortgagee may in ita eole discretion deem necessary. ~ 11. The principal amount owing on tbe Note together with intereet thereon and all other cbarges, aa tberein provided, and all other amounta of money owing by the Mortgagor to the Mortgagee pureuant to and aecured by this Mortgage, shall immediately become due and payable without notice or demand upon the appointment of a receiver or liquidator, whether vol- , ~ untary or involuntary, for tbe Mortgagor or any of the property of the ; Mortgagor, or upon the filing of a petition by or againat the Mortgagor ~ ~~nder the provision~ of any State inaolvency law, or under the provi-~ F ~ sions of the Bankruptcy Act of 1898, as amended, or upon the making by ~ the Mortgagor of an aasignment for the benefit o~ the Mortgagor's cre- ~ ditors. The Mortgagee is authorized to declare, at ita option, all or any part of such indebtedneea immediately due and payable upon the happening , of any oY the following eventa: ~ ~ (a) Failure to pay tbe amount of any installment of principal ~ and intereet, or otber chargee payable on the Note, wbich . shall have become due, prior to tbe due date of the next ~ such installment; (b) Nonperformance by the Mortgagor of any covenant, agreement, ~ ~ term or condition oP thie Mortgage, or aY tbe Note (except ~ as otherwise provided in subdivision (a) hereof) -or of any ~ other agreement heretoYore, herewith or hereafter made by tbe Mortgagor with the Mortgagee in connection with such ~ indebtednese, sYter the Mortgagor has been given due notice ~ by the Mortgagee of auch nonpertormance; (c) Failure of the Mortgagor to perform any covenant, agreement, term or condition in any inetrument creating a lien upon tbe eooK186 ~1423. ~ . - _ _