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~ 23. It is agreed that if any of the property herein mortgaged is of a nature so
that a security interest therein can. be perfected under the Uniform Commercial
Code. this instcument sh~ll constitute a security agreeme~t and Mortgaqor aqrees
to ioin with the Mortgagee in the execution_of any financing stateme~ts and to ~
execute any other instruments that may be required for the perfection~oc renewal ~
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24. Notwithstanding anything in this mortgage or the note secured hereby to the ,
contrary, neither this mortgage nor said note shall be deemed to impose on the mort- '
~ 9agors any obllgaUon of payment, except to the extent that the same may be le9ally ~
. 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 morigage is given to secure any and all obligations from the Mortgagor
to the Mortgagee arising by virtue of any security agreement, promissory note oc _
other agreement between Mortgagor and Mortgagee and for all obligations of
Mortgagor to Mortgagee, contingent or absolute, direct or indirect. regardless
of however or whenever created. . ~ ~
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~ 26. As additional security for the repayment of the indebtedness hereby secured
and the payment of taxes, special assessments, ground re~ts, and other charges
and fire and other hazard insurance premiums, Mortgagor agrees to deposit with
Mort9agee, if requested by it, monthly or other periodic payments in amounis,
- which, as estimated by Mortgagee from time to time, shall be sufficient to meet,
as they become due, such taxes, assessments, rents, charges and premiums. If E
at any time the funds so held by Mortgagee shall be insufficient to pay any tax, ~
assessment, rent, charge or premium, Mortqagor 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
shall be irrevocably appropriated to Mortgagee in trust, to be applied to the -
payment of such taxes, assessments, rents, charges and premiums, and at the
' ~ option of Mortgaqee, after default, to be applied on the indebtedness hereby
~ secured. . ~ - . :
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E 27. If a conveyance shouid 'be macie by tne iviori~gagor oi ine premi~~~ ~~i~in
described, or any part thereof, without the written consent of the iViortgaqee,
and without assumption fn regular form~ of law by the grantee, of the obliqation
to the Mortgagee created by said promissory note and this mortqage, then, and ~
in that event, and at the option of the Mortqagee, all sums of money secured ~
hereby shall immediately become due ~and payable and shall be considered in ~
default. ~
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28. If any monthly payment !a not paid within ten days of its due date, then ~ • '
~ the Mort9aqor ehall pay to the Mortqaqee a delinquency charqe of four per cent y
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~ on each such monthly payment. ~ . t
29• This is a•purchase money second mortgage. ' ' ~
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~ dooK 201 PA~E 992
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