HomeMy WebLinkAbout1114 5. The reference in the recital on the second page of
the original mortgage to the principal sum of the indebtedness
and the final maturity date of the note secured by the original
mortgage as being One Hundred Sixtq-two Thousand and No/100 Dol-
lars ($162,000.00) and March , 1972, respectivelp, is hereby
amended to refer to a principal sum of One Hundred Eighty-seven
Thousand Five Hundred and No/100 Dollars ($187,500.00) and to a
final maturity date of March 1, 2000, respectively.
6. The reference in paragraph 7 of the original mort-
gage to the principal sum of the indebtedness secured by the mort-
gage as being $162,000.00 is hereby amended to refer to a princi- -
pal sum of $187,500.00. ~
7. The fifth line in paragraph 13 of the original mort-
gage is hereby amended by deleting same in its entirety and sub-
stituting the following language in lieu thereof:
est at the highest rate allowed by law, and
shall be".
8. Paragraph 11 of the mortgage is deleted in its en-
~ tirety and the following language is substituted in lieu thereof:
"If at any time prior to ten (10) years from the date hereof
Mortgagor conveys to any other party a security interest in
said premises, or any part thereof, or Mortgagor shall sell
or otherwise dispose of the mortgaged premises, or any sub-
stantial part thereof, without the written consent of Mort-
gagee, which consent shall not be unreasonably withheld, or
in the event Mortgagor or its successors or assigns affects
a material change in the use of the property encumbered
hereby, without the consent in writing~of the Mortgagee, the
i Mortgagee may, at its election, declare the entire indebted-
i ness hereby secured to be imnediately due and payable, with-
out notice to Mortgagor (which notice Mortgagor hereby ex- ~
pressly waives), and upon such declaration the entire indebt-
edness hereby secured shall be immediately due and payable,
anything herein or in said promissory note to the contrarq
notwithstanding."
9. The Mortgagor shall provide Nationwide with annual
financial statements as well as the annual report of Keller In-
dustries, Inc, within ninety (90) days of the end of each of
their respective fiscal years.
10. Mortgagor further covenants and agrees that it will
keep and perform all the terms, conditions and covenants of all
leases affecting the mortgaged premises, on its part as Lessor to
be kept and performed. ~
11. The proposed parking area and related improvements ~
with respect to each of the mortgaged premises shall be maintained ;
constantly. No new building or addition to the existing structure ;
sha11 be erected on any of the mortgaged premises without the prior
written consent of Nationwide.
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