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27.. It is understood aad agreed that SMA say at aAy tiae, Without notice to any
person, grant to the lbrtgagor any indulg~ncea or forDearance. or any extension
of time for the pay~ent of any indebtednas~ tecuted hereby. or allov any change
or changee. aubstitution or substitutioa~ of aay of the property descrlbed in '
this mortgage or aay other collateral vhich ~ay be held by SMA without in any
manner affecting the liability of the ?Wrtgagor~ any sado~s of the indebted-
neas hereby secured or amr other peraon for the paysent of said indebtedness,
together with interest and aay other auma vhich maq be due and payable to SMA ,
and also without in aay manner affecting or impairin:; the lien of this Mortgage
and it is also underatood and agreed that SMA ssy at any time, without notice
to aay person, release any portion of the psoperty deecribed in this Nortgage
or any other collateral, or any portion of any other collateral which may be -
held as securiiy for the paytent of the indebtednesa hereby secured, either
with or without any consideration for euch relesse or releasea, Without in any .
manner affecting the liability of the tbrtgagor, all endoraers, if any, and all
other persons Who are or shall be liable for the payaent of said indebtedness,
and without affecting, disturbing or impairing in anq manner whatsoever the
validity and priority of the lien of this lbrtgage for the full amount of the
indebtedness re~aining unpaid, together with all interest and advances vhich
shall become payable, upon the entire remainder of the mortgaged property vhich
is unreleased, and without in any manner affecting or impairing to aay extent
whatsoever any and ell other collateral security which may be held by gMA•
It is distinctly understood and agreed by the Mortgagor and SMA that any release
or releases may be made by ~SMA without the ~onsent or approval of any other
person or persons ~rhomsoe~rer. ,
28. In the event thia Mortgage is a construction mortgage, each of the terms,
covenants and conditions of the construction loan agreeaent executed in connection
vith the execution of this Hortgage are incorporated herein as if said construction
loan agreaaent were repeated herein in exteneo.
29. Hortgagor covenants and agrees that he will deliver to the Mortgagee every five
years hereafter an inspection 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 Condominium or to othenrise
comply with any of the terms, covenants or condition8 of said Declaration of
conao~ini~ ahall constitute a default under this mortgage and the nortgagee may,
at its option, immediately or thereafter declare the indebtedness s~cured hereby `
due and payable.
31. This i~ a purchass ~an~~ first surt~a~e acacutsd for t6s ~spr~as p~rposs of
a~curin~ a portion of the purchaa• price of ths prop~rt~ ~cunbstad b~rab~.
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IN WITNESS t~NEREOF the said Mortgagor has caused this Nortgage to be properly
executed and seal this the day and year first above written.
1
Signed~~ d' ive ed in the presence of:
~ ~ 7~'.N d~. 'uj-~..n- (SEAI.?
/ J~~: •
- ~ ~ 1 ~ t~ ~ ~ `'1~~~ ~~C .~G Y\ lYLkSEAL)
3_.~
~
(s~u,)
(s~t,)
(Corporate Seal)
By
President
Attest!
Secretary
• 6
• 800K!"?Vt~ P~t~~~~.~G
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