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27. Foreclosur~ of 5econd Lien.
If foreclosure proceedings of any second nortgage or
second trust deed or any 3uniar lien of any kind should 'oe
instituted, the Mortgagee, at its optfon, immediately or
thereafter may declare this Mortgage and the indebtedness
secured hereby due and payable. ~
28. Mortgagor Financial Statepents. ~
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Mortgagor further covenants that it ~rill deliver to
Mortgagee within sixty (60) days after completion of the con- i
struction referred to above a copy of a balance sheet of the {
Mortgagor as of a date subsequent to completion of construction.
Additionally, within thirty (30) days following the end of each ;
calendar year after said completion and beginning in the year
in which completion takes place, Mortgagor shall deliver to
Mortgagee a copy of a balance sheet of the riortgagor as of the `
end of each oF the said calendar years and a copy of income and
surplus statements of the Mortgagor as of tlie end of each of
the said calendar years. The various financial statements sha1Z
set forth separatel}• the property included in, the liabiZities
relating to and the results of the operations of the mortgaged
premises, all in reasonable detail prepared by an independent ;
public accountant or firm of independent publie accountants
selected by the Mortgagor and reasonably acceptable to the
Mortgagee.
In addition, Mortgagor covenants that it will, within a !
reasonable time after any request by the Mortgagee, furnish or
cause Lo be furnished to the Mortga~ee such other information with
respect to the mortgaged premises as the Mortgagee may from time
t~ time reasonably request.
29. Inspections.
The Mortgagee shall have the right, during the construction ~
referred to above, to inspect the construction and to reject and
require to be replaced any material or workmanship that does
not co~ply with plans, specifications and tlie Construction Loan
Agreement. It is agreed expressly that a?1 inspection services
rendered by the Mortgagee, by Performance Mortgage Advisors, Inc.
or by the officers, e~ployees or agents of either of them, shall
be rendered solely for the protection and benefit of the Mort- ~
gagee, and the Mortgagor and parties with ~ahom Mortgagor has or ~
will contract as well as any and all other parties shall not be ~
entitled to claim any loss or damage, either against the Mort- ~
gagee, Performance Mortgage Advisors, Inc. or the officers, }
employees or agents of either of them, f~r failure properly to €
discharge their duties to the Mortgagee. The Mortgagee, ~
Performance Mortgage Advisors, Ine. and the officers, employees
and agents of either of them, shall not be liable for the failurc '
of any dealer, contractor, craftsman or laborer to deliver the
goods or perform the services to be delivcred or perforcned by
them.
30. Misc~llaneous.
Neither the acceptance of this Mortgage nor tlie enForce-
ment tticreof shall prejudice or i~z any manner affect the right ~
of the Mortgagee to realize upon or enforce any other security ~
now or hereafter held by the Zlortgagee, it being understood ~
that tl~c Mortgagee shall be entitled to enf_orce this Mortgage
and any other security naw or hereafter t~eld by it in such j
order and manner as it may in its discretion determine. The
Tiortgage shall extend to and be binding upon Mortgagor, his '
or its heirs, administrators, successors and assigns and all ~
persons claiming under or through Mortgagor. The word "Piort-
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