HomeMy WebLinkAbout2310 ! ~Ej:1 i.`.t,E l.v.~.~k
19. Thc lien of this ~eed secures and sh~~ll continu~
to secure payment of said in~'cbtedncss however evidenced,
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whether hy said Pror~issory Notc~ or any renewal or extension ~
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thereof or substitutc therefor, or othenaise, until alI such
indebtedness shall have bee» fully paid.
20. That in the et~ent the premises hereby mortgaged,
or any part thereof, shall be condemned and taken for public use
under the power of emi.nent domain, the l+.ortgagee, its
successors and assiqns, ,hall have-the rigllt to demand that alI "
damages a~yarded for the taking of or damages to saiv premises
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shall be paid to the rtortqagee, its successors or assigns, up to '
the amount then unraid on this Mortgage and may be applied upon
the paymerit-or payments 2ast payable hereon.
- 21. T!~e term "riortgagor" and "rtortgagee" whenever used ~
in this instrument sltal.l include the heirs, Fer~onal repre-
s~t~tatives, succesGors and assians of the respective parties
he~-eta. t•lherever t1SPCi~ the singular num.~er shall inclucle the
plural a,nd the plural the singular, and the use of any gender ?
shall include alI qen~ers.
22. -Thi~ is
~ c?evelopment loan mortgage, the proceeds
of ~thich are loaned for the piirpose of financing: the develop=
r~~ent and construction of itr~pravements upoh the above described ~
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property. This mortgage is subject to the terms, provisions
and conditions of that certain Loan Agreement of even date
herewith, entered into bet~,,•een the Mortgagors ar.d the t~lortgagee
herein, and said Loan Agreement is by reference incorparated
h~rein and r:~ade a_~art hereof , l~ny default under the terms
anc~ conditions of said Loan F.qreer.2ent. shall be dce~r.ed a default
hereunc3er. caid I,~~,n T.greement is availahle for in~~~ection ~?~y
all partiN~ it~terested at the office of t'~e 1•tortcTaqee herein.
t
2 3. tlat~ai Lh~: t~~r~c3i nU any th ing i n th is 1~~ortqac~e and •
thc. *I~te :~c~cured h~rc:~y to the cc~ntrcu-y, i t is furr.h~r ~~gre~ed by
thc~ Mc~rt~~~~~r~r that i~z t?ie~ ~~v~~nt. thr hui Idit~qs ai~c! im~rove~r:i~~nts _
- 3~.~~~~• Sl = i
6QO~ 193 ~3~~ ;
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