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23. It is agreed that if any of the property he~ein mortgaged is of a nature so
that a securlty interest therein can be perfected under the Uniform Commercial
Code, thls instrument sh~ll constitute a security aqreement and Mortga9or agrees
~ to ioin with the Mortgagee in the execution of any financing statements and to •
execute any othec instruments that may be required for the perfection oc renewal
' ~o~ $uch security interest under the Uriifocm Commercial Code.
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24. Notwithsta~ding anything in this mortgage cx the note secured hereby to the
contracy, neither this mortgage nor said note shall be deemed to impose on the mort- '
9agors any obligation of payment. except to the extent that the same may be legally ~
. enforceable; and any provision to the contrary shall be of no force or effect.
25. In addition to the obligation described above as evidenced by the promissory •
note. this mortgage is. given to secure any and all obligatioas fmm the Mortgaqor
to the Moctgagee arising by virtue of any security agreement, promissory note or .
other agreement between Mortgagor and Mortgagee and for all obligations of .
Mortgagor to Mortgagee, contingent or absolute, direct or indirect, re9ardless •
of however or whenever created. • ~
26. As additional security for the repayment of the indebtedness hereby secured
and the payment of taxes, special assessments; ground rents, and other charges
and fire and other hazard insurance premiums, Mortgagor agrees to deposit with
Mortgagee, if requested by it, monthly or other periodic payments in amounts,
- which, as estimated by Mortgagee from time to time, shall be sufficient to meet,
as they ,~come due, such taxes, assessments, rents, charges and ptemiums. If
at any time the funds so held by Mortgagee shall be insufficient to pay. any tax,
assessment, rent, charge or premium, Mortgagor shall, upon receipt of notice
thereof, immediately deposit with Mortgagee such additional funds as may be' • '
. necessary to remove the deficiency. It is agreed that all sums so deposited
shaU be irrevocably appropriated to Mortgagee in trust, to be applied .Lo the -
'i ~ payment of such taxes, assessments, rents, charges anc premiums, and at ine
; option of Mortgaqee, after default, to be applied ori the indebtedness hereby
~ secured. . _ ~ _ :
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~ 27. If a conveyance should be made by Lh~ Mortqaqor o~ the fl*'p~li~~s herein
described, or any part thereof, without the written consent of the Mortgagee,~
and without assumption in regular form- of ~aw by the qrantee, of the obligation
to the Mortgagee created by said promissory note and this mortgage, then, and
in that event, and at the option of the Mortgagee, all sums of money secured
hereby shall immediately become-due ~and payable and shall be considered in
default. -
28. If any inonthly payment is not paid within ten d~ys of its due date, then - ~
the Mort9aqor ahall pay to the Mortqaqee a delinquency charqe of four per cent
~ on each ~uch monthly payment.
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' . ' ~ BOOK 2O1 PACE 98s •
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