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27. It is understood aad agreed that SMA say at any ti~e. without Aotice to any
person, grant to the tbrtgagor aAy indulg~ncee or forbearance. or any excension
of time for the payaent of any indebtednas~ •ecured hereby, or al1oW any change
or changes, substitution or eubstitutions of any of the property described in
this mortgage or any other collateral vhich say b• held by SMA without in any
manner affectiag the liability of the ?brt~agor, any sndoraere af the indebted- .
neas hereby secured or smr other peraon for the paysent of said indebtedness,
together vith intereat and any other sum~ which saq be due and payable to SMA ,
and also vithout in any oanner affecting or impairia:; the lien of this Mortgage '
and it is also understood and agreed that SMA say at any time, without notice
to aay person, release any portion of the property described in this lbrtgage ,
or any other collateral, or any portion of any other collateral which may be ~
held ae security for the payeent of the indebtadness hereby secured, either
with or without any conaideration for such release or releases. without in any
manner affecting the liability of the Mortgagor, a11 endorsers, if any, and all
other persons who are or shall be liable for the paq~nent of 8aid indebtedness,
and vithout affecting, disturbing or impairing in anq manner vhetsoever the
validity and priority of the lien of this Mortgage for the full amount of the
indebtedneas ranaining unpaid, together vith all interest and advances which
shall become payable, upon the entire reaainder of the mortgaged property which
is unreleased, and without in any manner affecting or impairing to aay extent
• vhatsoever any and all other collateral security vhich maq be held by gMA.
It is distinctly understood and agreed by the ?brtgagor aad SMA that any release
or releases may be made by -SMAt~?ithout the conaent or approval of any other
person or peraons whomsoever. .
28. In the event this tiortgage is a construction mortgage, each of the terms, ~
covenants and conciitions of the construction loaa agreeaent executed in connection ~
vith the execution of this Mortgage are incorporated herein as if said construction !
loan agreeaent were repeated herein in extenso.
29. riortgagor covenants and agrees that he ~rill deliver to the Mortgagee every five
years hereafter an inspectfon certificate that the captioned premises is free
from termites.
30. In the event this is a mortgage on an apartment in a condominium together vith
appurtenances thereto, the failure of the mortgagor to pay any assessments
required to be paid pursuant to the Declaration of Condoa~inium or to othen~?fse
comply with any of the terms, covenants or conditioas of said ~eclaratioa of
Condominium shall constitute a defau2t uader this mortgage and the mortgagee may,
at its option, i~ediately or thereafter declare the indebtedness s~cured hereby
due and payable.
31. This is a parchas• ~oae~ firft sort~aQ~ aeeut~d for tb~ rspr~aa purpoa~ of ~
stcurin~ a portioa of ths parchas• pric~ of t6a prop~rt~ ~ecu~b~rad h~r~by. 4
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IN WITNESS i~1HERE0F the said Mortgagor hae caused this Mortgage to be properly
executed and led this the day and year first above written.
.
Signed, s" a de2 vered in the presence of:
~
i ~ , . ~r - ~5~.,
~ Ro an B.'H~nders
~ ~~i1~r,/ ~S w ~ ~,(SEAI.)
arian . Hen erson
(SEAL)
( SEAI.)
(Corparate Seal) -
;
BY
President
Attest: ~
Secretary
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