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27. It is understood and agreed that SMA say at any tiae, without notice to any
person, grant to the Mortgsgor any indulg~ncea or forbearance. or any extension
of time for the paysent of eay indebtednas~ ~~cuYed hereby, or alloa any chaage
or changes, substitution or substitution~ of any of the property described in
thia mortgage or any other collateral ~rhich aay ba held by SMA vithout in any
manner aff ectiag the liabilitq of the tbrt~agor, aay sndoraers of the indebted-
ness hereby secured or any other peraon for the paysent of eaid indebtedness,
together with intereat and any other suaa Which maq be due and payable to SMA ,
and also vithout in any manner affecting or impsirin:; the lien of this Mortgage
and it is also underatood and agreed that SMA ~y st any time, without notice
to aay person, release any portion of the property described in this l~tortgage ;
or any other collateral, or aaq portion of any other collateral vhich may be }
held a8 security for the payment of the indebtedneu hereby aecured, either ~ i
vith or Without any consideration for such release or releases, vithout in any ~
manner affecting the liability of the Nortgagor, al2 endorsers, if aay, and all
other persons vho are or shall be liable for the.paqa~ent of eaid indebtedness~
aad vithout affecting, disturbing or impairing ia any manner whatsoever the
- validity and priority of the lien of this N~ortgage for the full amount of the
indebtedness remaining unpaid, together With all interest and advances which
shall become payable, upon the entire re~oainder of the mortgaged property which
is unreleased, and vithout in any manner affecting or impairsng co any extent
whatsoever any and all other collateral securitq which m~tq be he2d by g~p.
( It is distinctly understood and agreed by the Nortgagor and SMA that any release
or releases oay be made by -SMA without the coaseat or approval of any other
. person or persons whomsoever.
28. In the event this Mortgage is a construction mortgage, each of the terms,
covenants and conditions of the construction loan agreeuent executed in connection
vith the execution of this riortgage are incorporated herein as if said coastruction
loan agreenent were repeated herein in extenao.
29. ?iortgagor covenants and agrees that he will deliver to the Mortgagee every five
years hereafter an inspection certificate that the captioned pre~nises is free
from termites. ~
30. In the event this is a mortgage on an apar4nent 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 otherwise
comply with any of the terms, covenants or ~onaitions of said Declaration of ~
Condo~minium shall constitute a default under this mortgage and the mortgagee may, ;
at its option, i~ediately or thereafter declare the indebtedaess sECUred hereby
due and payable.
31. This i~ a pnrchass ~wna~ ftnt sortga~e acscut~d for tha ~ocprq~ purposa of
sscuria~ a portioa of th~ purchas• prics of th~ proptrt~ ~scuabsrad h~rsb~.
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IN WITNESS ~THEREOF the said Hortgagor has caused this Mortgage to be properly
executed and sealed this the day and year first above written.
ned, seal and deli red in the presence of:
~ ' ~ .
(SFAL)
lfGJG'~Collins ~ (SFAL)
~~1~,
Lee Aima Collins
( SEAI.)
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(SEAL)
f
(Corporate Seal)
By
President
Attest:
Secretary
~~is~
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