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lawful rate and that if the tot.zl of said interest is lessl
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than the interest then due as coinputed by the terms of said #
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note and this Agreement, the interest to be paid by the ;
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Mortgagors shall be the lesser sum. It is further the inten- ~
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tion of the Mortgagee that the co-makers and endorsers of tY~e ~
aforec*zentioned note shall be liable for interest only to the
~xtent of the maximum legal rate available against them or ~
the amount due under the terms of said note, whichever is
the lesser sum.
10. The rlortgagor s1ia11 permit a representative of ~
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the Mortgagee to enter and inspect the property at all reason-
able times and said representative shall have the righ t to
inspect all books, and such contracts and records of the ~
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. Mortgagors with respect to the devel~pment of the aforementioned
property.
11. The 24ortgagor shall not convey, assign, or
enc••~.r.?ber the property lierein mortgaged without the written
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consent af the riortgagee. Any such assignment, conveyance,
or encumbrance~, without such written consent,_shall constitute
an immediate default under this mortgage.
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~ 12. The happening of any one or r.?ore of the following
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~ events shall~onstitute a default of the mortgage and note:
(a) The tdortgagor shall fail to make the interest
payr.?ents monthly on the due date;
(b) The t~iortgauor shall fai 1 to make any required
repayr.ient of principal or any portion thereof, on _
_ the due date;
(c) The Mortgagor violating any term, condition,
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or representation eontained in agreement, note or
mortgaqe;
(d) 'I'he ?tortgagor being aclju~iieatec~ a bankrupt, :
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m~kinn any assiynn:e»t for the henefit af creditors, '
or heincr i»~~lvent;
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BooM 193 2305 ~
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