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27. It is underatood aad agreed that SMA say at aaq tise, ~rithout notice to any
person, grant to ~he l~brtgagor any indulgeacee or forbearance. or any extension
of time for the p~yaent of any indebtednes~ •ecured hereby. or~allow any change
or changes, subatitution or substitutioa~ of any of the property described in
this mortgage or aay other collatezal ~rhich aay b~ held by SMA without in any ~
manner affectiag the liability of the tbrtgagor, any sndorsers of the inclebted- ;
nees hereby secured or any other person for the paysent of said indebtedness, ~
together with interest and any other atiw vhich say be due and payable to SMA .
and also without in any manner aff ecting or impairin:; the lien of this Mortgage
and it is also understood and agreed that SMA nay st any time, vithout notice
to any person, release any portion of the property deecribed in this Mortgage
or any other collateral. or any portion of aAy other collateral which may be
held as securitq for the payaeat of the indebtedness hereby secured, either
with or without any consideration for such release or releases, without in any
manner affecting the liability of the liortgagor, all endorsers, if aay, and all
other persons who are or ehall be liable far the payraent of said indebtedness,
and without affecting, disturbing or impairing in a~r manaer-~fiatsoever the
validity and priority of the lien of this Mortgage for the full amount of the
indebtedness remaining unpaid, together with all iaterest and advances which
shall become payable, upon the entire re~nainder of the ~rtgaged property which
is unreleased, and without in any manner affecting or impairing to any extent
whatsoever any asd all other collateral securitq which maq be held by SMA• ;
It is distinctly understood and agreed by the Iiortgagor and SMA that any release
or releases may be made by -SMA wi.thout the coneent or approval of any other
person or persons vhomsoever.
28. In the event this I~iortgage is a construction nortgage, each"of the terms,
covenants and conditions of the constructioa losa sgreeaent executed in connection
vith the execution of this Mortgage are incorporated herein ae if said construction
loan agreement were repeated herein in extenso.
29. Hortgagor covenants and agrees that he vill deliver tu the Mortgagee every five
years hereafter an inapection certificate that the captiol~d premises is free - i
from termites.
30. In the event this is a mortgage on an apartaent in a condominium together vith
appurtenances thereto, the failure of the mortgagor to pay any asse~sments
requized to be paid pursuant to the Declaration of Condominium or to othervise
comply with any of ttie terms, covenants or conditions of eaid Declaration of
Condaminium ahall constitute a default under this mortgage and the mortgagee may,
at its option, i~ediately or thereafter declare the ittidebtedness s~cured hereby
due and payable.
31. This i~ a purchas• aa?s~ firat ~ortsa~~ ~ocacutad for th~ ~cpr~sa purposs of
sacuria~ a poztiaa of th~ purchas• pric~ of tha Qrop~rt~ ~cv~bar~d 6~r~b~.
IN WITNESS WHE the d Mortgagor has cauaed this Mortgage to be properly
executed and al thi e d y and year first above s~ritten.
Signed a e i the presence of:
~ (SEAI.)
~ d Shepard ~
_ /r " (s~)
( SEAL) f
' cy Shepa d ~
( SEAI.) ;
,
(Corporate Seal) _
~
_ BY ~
; Pres id ent
Attests
~ Secretary '
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QoK 204 PA~~ z~0 7
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