HomeMy WebLinkAbout0658 liability hereunder. No sale of the premises herein described and no for-
bearance on the part of the first party, and no extension by the first party ~
~
of the time for the payment of the debt hereby secured, shall operate to release,
discharge, modify, change or affect the original liability of the second party
herein, either in whole or in part.
9. That, if any of the monies herein referred to are not paid within ten
(10) days next after the same severally become due and payable, or if each
and every the stipulations, agreements, conditions and covenants of said
Promissory Note and this Agreement, or either, are not duly performed, complied
with and abided by, all sums remaining unpaid under said Promissory Note and
this Agreement shall become due and payable forthwith, or thereafter, at the
option of the first party, as fully and completely as if the aggregate sums
of money were originally stipulated to be paid on such day, anything in said
Promissory Note or herein to the contrary notwithstanding, and thereupon and
thereafter, at the option of said first party, without notice or demand, suit
at law or in equity may be prosecuted.
10. The first party, at its option, and without waiving its right to
accelerate the indebtedness hereby secured and to foreclose the same, may pay
and do any or all of the obligations required by the terms hereof to be paid or
done by the second party. All sums so advanced or paid by the first party shall
immediately become due and payab2e and shall be charged to the second party and
' added to the balance due on the Note, and become an integral part thereof, sub-
~ ject in all respects to the terms, conditions and covenants of the aforesaid
E
Promissory Note and this Agreement as fully and to the same extent as though said
;
swns were a part of the original indebtedness evidenced by said Note and secured 4
~ by this Agreement, excepting, however, that said sums shall be repaid the first
party forthwith upon its demand and shall be in addition to the regular monthly
installments provided by the note. All payments which may be made by the first
party for taxes, insurance, repairs or otherwise pursuant to the terms of this ;
~ Agreement shall bear interest from the date of payment at the rate of nine percent
~ (9~) per annwn, and this Agreement shall secure the payment of all such swns.
~
~ 11. That in the event the premises herein described, or any part thereof, `
~
~ shall be condemned and taken for public use under the power of eminent domain,
the first party shall have the right to demand that all damages awarded for
the taking of or damages to said premises shall be paid to the first party '
to be applied upon the Agreement indebtedness.
12. The terms "party of the first part" or "first party" and "party of the
second part" or "second party", whenever used in this instrwnent, shall include
-4- E~JK C~11~ ~ilC)
: . ~r~...
,
. ~ ~ ~
a -
_ . ~ v ~ ~ `"Lti3~ . Y _ . _