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note and this mortgage, at the option of the holder or holders
hereof, shall accelerate and at once become due and payable, any-
thinq in said note or herein to the contrary notwithstanding.
Failure by the Mortgagee to exercise any of the rights or options
herein provided shall not constitute a waiver of any rights or
options under said note or this mortgage accrued or thereafter
accruing.
This mortgage is a purchase money mortgage given to
secure the payment of the purchase price of the lands described,
provided, however, that Mortgagee hereby covenants and agrees
that the lien of this mortgage shall be subordinate to the Zien
of any construction or permanent mortgage or any mortgage re-
financing the land securing this mortgage which the Mor.tgagor
ar its assigns sha11 execute and record for the purpose of
securing a construction ar development loan for the construction
of improvements on the above described lands and premises, or
any subsequent mortgage given by a purchaser of any of said
improvements. Upon the execution and recording of the aforesaid
mortgages, Niortgagee upon request will execute and deliver to
Mortgagor or the lender such instruments as may be required by
the lender for these purposes and to the end that said lender
shall have a valid first mortgage lien upon the land and improve-
ments thereon.
Mortgagee agrees and covenants that upon receipt of the
principal payment of Three Hundred DolZard ($300.00) for each ~
Condominium Unit sold, or Apartment Unit rented, as provided in ~
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