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27. It is underatood and agreed that SMA mey at any time, without notice to any i
;
person, gzant to the Nortgagor any indulgencea or forbearance, or any extension ~
of time for the payment of aay indebttdness secured hereby, or allow any char.se
or changea, aubstitutio~ or eubetitution4 of ~ny of the property described in ~
this mortgage or any other collateral Which may be held by SMA vithout in any :
manner affecting the liability of the Kortgagor, any andoraers of the indebted- ~
ness hereby secured or any other person for the payment of said indebtedness, ~
together with interest and eny other sums which may be due and payable to SMA .
and also vithout in any manner affecting or ~mpairin:; the liea of this Mortgege -
and it is also understood and agreed that SI"~ may at any time, without notice
to any person, reZease eny portioa of the property described in this Mortgage ;
or any other collatexal, or anq portion of any other collateral which may be ~
held as security for the payment of the iadebtedness hereby secured, either ~
with or without any consideration for auch release or releases, without in any '
manner affecting the liability of the Nortgagor, a11 endorsers, if any, and all
other persons Who are or shall be liable for the payment of said indebtedness,
and without affecting, disturbing or impairing in any manner vhatsoever the
validity and priority of the lien of thie Mortgage for the full amount of the
indebtedness ranaining unpaid, together With all interest and advances vhich
sha21 become payable, upon the entire remainder of the mortgaged property which
is unrelessed, and without in any manner affecting or iiupairing to any extent
whatsoever any and all other collateral security which may be held by S~.
It is distinctly understood and agreed by the Hortgagor and SMA that any reZease ~
or releases may be made by •SMA vithout the consent or approval o£ any other
person or persons whomsoever. ~
2t3. In the event this Mortgage is a constrnction mortgage, each of the tere~s,
covenants and conditions of the construction loan agreenent executed in connection
with the execution of this Mortgage are ineorporated herein as if said construction
loan agreesnent Were repeated herein in extenso.
29. Mortgagor covenants and agrees that he will deliver to the Mortgagee eveYy five
years hereafter an inspection certificate that the captioned premises ia free
i
from tertaites.
30. In the event this is a mortgage on an apartmeat in a condominium together with
appurtenances thereto, the failure of the mortgagor to pay any assessments
required to be paid pursuant to the Declaration of Condominium or to otherwise
comply with any of the terms, covenants or conditions of eaid Declaration of :
Condominiuan shall constitute a default under this mortgage and the Aortgagee may, ~
at its option, it~ediately or thereafter declare the indebtedness sECUred heteby ~
due and payable. ~
31. Zbis ie a purchase afonay firat mortgage exacuted for the axprasa purpoca of =
securing a portioa of the purct~sas price of tha prop~rty eac~bErsd hertby.
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IN WITAIESS WHEREOF the said Mortgagor has caused this Hortgage to be p~coperly
er.ecuted and sealed this the day and year first above written.
Signed, seal and delivered in the presence of: ~
1
_ - ^ ~ ~ - ttcL./" (SEAI.)
Jerald G. McKeehan
(SEAL)
~iQ, +.c~ / ~ 1 ~ _ ( SEAL) i
Carol r;cKeehan
(SEAL) ~
a
(Corporate Seal) ~
. ~
By ~
President ~
f
~
Attest: ~
SECretary ~
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6 BOOK ~O4 PACf z~~
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