HomeMy WebLinkAbout0519 or contest any tax or assessment. All monies
paid for any of the purposes herein authorized
and all expenses paid or in~urred in connection
therewith, including attorneys' fees, and any
other monies advanced by the holders of the~note
to protect the mortgaged premises and the lien
hereof, each shall be so much additional indebt-
edness secured thereby and shall become immediately
due and payable without notice and with interest
thereon at the rate of eight per cent per annum.
Inaction of holders of the note shall never be
considered as a waiver of any right accruing to them
on account of any of the provisions of this para-
graph.
2. The holders of the note hereby secured making any pay-
ment hereby authorized relating to taxes or assessments, may do
so according to any bill, statement or estimate procured from
the appropriate public office without inquiry into the accuracy
of such bill, statement or estimate or into the validity of any
tax, assessment, sale, forfeiture, tax lien or title or claim
'i thereof .
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~ 3. At the option of the holders of the note and upon
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~ written notice to the Mortgagor, its successors or assigns, all
unpaid indebtedness secured by this mortgage shall, notwithstand-
ing anything in the note or in this mortgage to the contrary,
become due and payable:
(a) in the case of default in making payment
of any installment of principal or interest
on the note and such default shall continue
for twenty (20) days beyond the due date or
(b) in the event of the failure of mortgagor, or
~ its successors or assigns to do any of the
things specifically set forth in paragraph
one hereof and such default shall continue
for twenty days, said option to be exercised
at any time after the expiration of said
twenty day period, or
BO'RJK ~U 1 PAGE 519
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