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27. It is uAdesstood and agreed that SMA say at aay tiae, trithout aotice to~aay ~
person, grant to tbe Iiortgagor aay indulgencea or forbearance. or any ext~aion ;
of tiwe for the papisent of anq indebted~ess ascured hereby, or allow any change ~
or changes, subatitution os subatitutiotu of any of the property described in
this mortgage or any other collateral vhich aay bs held by SMA vithout in any
maaner affecting the liability of the I~lQrtg~gor, any ~udorsers of the iAdebted- i
ness hereby secured or any other person for the pay~eat of said indebtedness,
together vith interest aAd any other su~s vhich uray be due and paqable to SMA ,
and also Without in any aanner affecting or ispsirin~ ttee lien of this Mortgage
and it is also understood and agreed that SMA eay at a~ay time, without notice ~
to any person, relesse any portion of the property deacribed in this Mortgage ~
or anq other collateral, or any portion of any other collateral vhich aay be ~
held as security for the payaent of the iadebtedneaa hereby secured. either
~aith or ~rithout any consideration for such release or releases, Without in any
manner affecting the liability of the ?brtgagor, sll endoreers, if any, and all
other persans vho are or shall be Iiable for the paqsent of said indebtedness,
and vithout affecting, disturbing or ia~pairing in auy? msnner vhatsoever the
- validity and priority of the lien of Lhie I~brtgsge for the full a~ount of the
indebtedness res~sining unpaid, together vith all iuterest and advances which
shall become payable, upon the entire rmaitider of the aortgaged propertq which
is unreleased, and without in any manner affecting or 3apairing to any extent
whatsoever anq and all other collateral security Which maq be held by SMA.
It is distinctly understood and agreed by the Murtgagor aad SMA that anq release
or releases maq be made bq • SMAi+ithout the conaent or appraval of any other
person or persons whomsoever.
28. In the event thie ?brtgage is a construction ~ortgage, each of the terms,
covenants and conditions of the construction loan agreesent executed in connection
with the execution of this Kortgage are incorporated herein as if said construction
loan agreesent were repeated herein in entenao.
29. Mortgagor covenants ard agrees that he will deliver to the Mortgagee every five
years hereafter an inspection certificate that the captioned pre~miees is free
fron termites.
30. In the event this is a mortgage on $n apartment in a condaninium together vith
appurtenances Lhereto, the failure of the mortgagor to pay any asseasments
requir ed to be paid pursuant to the Declaration of Condoelnium or to otherwise
covply vith any of the terms, coveY?ants or conditions of eaid Declaration of
Condominium ahall coastitute a default under this mertgage and the mortgagee may,
at its option, immediatelq or thereafter declare the indebtedness s~cured herebq
due and payable.
31. This i~ a pnrchas~ ~onn firat ~art~a~a ~cacutsd for tb~_ ~ocpraa p~rpoas af
sscurin~ a portion of tl~a pura6asa price of th~ propart~ ~sc~bersd b~r~by.
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~ IN WITNESS WHEREOF the said Mortgagor has caused this Mortgage to be properly
; executed and seal his the day and year first above trritten.
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i Signed; sera d ver,bd in the presence of : ~
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I -~~~1 - , ~ y Carro ~ ,r~,4~~-~ (SEAI.)
~ , ~ ~ _ °J'l? ~t cc,~ /.Z-n.
~ ~ Mary Ann Carroll
(SFAL) ~
,
(SFAL)
(Corporate Seal)
By
President
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AttesLs
Secretary e
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6 ~~~04 ~ ~
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