HomeMy WebLinkAbout0363 27. It is uaderstood and agreed that SMA say at anq tiae, without Aotice to any
person, grant to the Mcrtgagor aAy indulgFaacea or forbearaace, or any extension
of time for the payoent of any indebtedne~~ secured haseby~ or allov any change
or changea~ substitution or aubstitutions of any of the property described in
this mortgage or any other collateral vhich saq b• held by SMA without in any
manner affecting the liability of the Ibrtgagor, sny endorsers of the indebted-
ness hereby secured or any other person for the paqsent of said indebtedneas~
together''vith interest and any other auma which may be due and payable to SMA ,
and alao without in any mannez affecting or impairin:; the lien of this Hortgage
and it is also understood and agreed that SMA say at any time, vithout notice
to any person, release any portion of the property described in this Mortgage
or any other collateral, or any portlon of any other collateral vhich may be
held as secuxity for the paysent of the itidebtedne8a hereby secured, either
with or without any consideration for such release or releases, without ia any
manner affecting the liability of the Hortgagor, all endoraers, if any, and all
other persons vho are or shall be liable for the payment of said indebtedness,
and without affecting, disturbing or impairing in anq manner Whatsoever the
validity and priority of the lien of this 2lortgage for the full amount of the
indebtedness recaining unpaid, together with all iAterest 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 any extent
whatsoever any and al1 other callateral security which maq be held by gMA•
It is distinct2y understood and agfeed by the Jiortgagor and SMA that any release
or releases may be made by •SMA~ri.thout the consent 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 agreeaent executed in connection
with the execution of this IY[ortgage are incorporated herein as if said coastruction
loan agreement were repeated herein in extenso.
29. Mortgagor covenants and agrees that he will deliver to the Mortgagee every five
years hereafter an inspection certificate that the captioned pranises is free
from termites. ~
30. In the event this is a mortgage on an apartment in a condominium together with
appurtenances thereto, the failure of the mortgagor to pay any asseasments
required to be paid pursuant to the Declaration of Condominium or ta othen~rise
comply with any of the terms, covenants or conditione of said Declaration of
Condominium shall constitute a default under thia mortgage and the mortgagee may,
at its option, iemoediately or thereafter declare the indebtedness s~cured hereby
due and payable.
31. lbis i~ a purchaa• aoon firat ~wrt~ag~ ~c~c~t~d for th• rxpr~s~ p~rpos~ of
sacurin~ a portion of tha purcbat~ price of tb~ prop~rtJ? escu~b~r~d h~rsby.
IN WITNESS WHEREOF the said Mortgagor has caused this Mortgage to be properly
executed and sealed this the day~and year first above written.
Signed, seal and delivered in the presence of: ~ ~
~ A - cs~.)
. _ Gre r . MacKee
~ ~ (SFaL)
1.~~/~~ ~ I~ (SEAL)
Carol L. MacKeen - ~
( SEAI.)
i
(Corporate Seal) ~
i
By
President
4
Attest:
Secretary
Bo~K zos P~~E 3sz
6
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