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~ 23. It is agreed that if ~ny of the property herein mortgaged is of a nature so
that a security interest therein can be perfected under the Uniform Commercial
Code. this instrument sh~ll cortstitute a security agreement and Morigaqor agres•
~ to ioin ~with the Mortgaqee in the execution of any financing statements and to ~
execute any other instrume~ts that may be requlred for the perfeciion oc renewal
' At such security interest under the Uniform Commerclal Code.
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24. Notwlthstanding artythinq in this mortqage oc the note secured hereby to ihe
co~trary, neither this mortgage noc said rtote shall be deemed to impose on the mort-
qa9ors any obligation of payment, except to the extent that the $ame 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 mortgage is given to secure any and aIl obligations from the Mortgaqor
to the Mortgagee arising by vittue of any security agreement, promissory note oc
other agreement between Mortgagor and Martgaqee and for all obligations of
Mortgagor to Mortg~gee, contingent or absolute, direct or indirect, segatdless •
of however or whenever created. . • ~
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26. As additional security for the repayment of the indebtedness hereby secured
and the payme~t of taxes, special assessments, ground rents, and other charges
and fire and other hazard insurance premiums, Mor~gagor agrees to deposit with
Mortgagee, if requested by it, mo~thly or other periodic pa~rments in amounts,
- 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 ~
' a! 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
shall be irrevocably appropriated to Mortgagee in trust, to be applied ~o the -
~ payment of such taxes, assessments, rents, charges and premiums, and at the
optton of Mortgagee, afier default, to be applied on the indebtedness hereby
secured. -
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Z7. If a conveyance should be made by the Mortgaqor. of the premises herein
described, or any pact thereof, without the written consent of the Mortgagee,
and without assumption in reqular form~ of law by the graniee, af the obligation
to the Mortgagee created by said promissory note and this mortgage, 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 i~
default.
. Z8. If any monthly payment is ~ot paid within ten days of its due date, then ~
~ the Mortqaqac shall pay to the MortQaqee a delinquency char9e of four per cent
~ on eacb such monthly payment.
29. This is.a pu~chase money secand mortgage. ' - '
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600K ~01, PAGE 9ey0
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