HomeMy WebLinkAbout2808 Mortgage from Farrell to Royal Rose Court ~
Cove~ants and agre~~~nts cont3nued:
10. That if conveyance should be made by the Mortgagor of the pr~m-
ises above described or any part of them without the written consent
of the Mortgagee and without assumption in regular form of law by the
Grantee of the obligation to the Mortgagee created under this mort-
gage, then, at the option of the Mortgagee and without not3ce to the
Mortgagor, all sums of money secured shall become due and payable and
in default immediately and concurrently with the conveyance, whether
or not they are so due and payable and in default by the specific
forms of this mortgage,
11. That in the event the ownership of the property or any part of
it becomes vested in a person other than the Mortgagor, the Mortga-
gee, without notice to the Mortgagor, may deal with the successor
or successors in interest with reference to this mortgage and the
debt secured in the same manner as with the Mortgagor and may for-
bear to sue or may extend time for payment of the debt secured, with-
out discharging ar in any way affecting the liability of the Mortga-
gor under this mortgage or upon the debt secured.
12. If foreclosure proceedings of any second mortgage or second
trust deed or any junior lien of any kind should be instituted, the
Mortgagee, at its option, immediately or thereafter may declare this
wvi ~C~ay^~ o~.^.v ~.^.~°~±Qr1!?pS~ cPCUred c~ue and payable.
13. That in the event the premises mortgaged, or any part of them,
shall be condemned and taken for public,use under the power of
eminent domain, the Mortgagee shall have the right to demand that
a11 damages awarded for the taking of or damages to the premises
shall be paid to the Mortgagee, up to the amount then unpaid on this .
mortgage and the obligation secured, and may be applied upon the
payments last payable under this mortgage and the obligation secured.
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