HomeMy WebLinkAbout4565 (b) Upon a date one month aft~r th~ date of
~bt~ining rt~ch "PPrmanent H'inancing" a s~~m shall be p~id eaual
to .8759~ of the unpaid principal balance, and a like sum shall
be paid monthly thereafter to be applicd first to pa~rnient of
interest accrued at ~lie same interest rate provided for said
Perm~~nent Financing or, if there be no permanent mortgage, 9~6
per annum and the balance to be applied in reduction of principal.
In t}ie evc~nt that at any time thereafter subsequent "Permanent
I'inancing" shall b~ obtained in excess of the then amount of
"Permanent Financing" a sum equal to the 4mount of such excess,
less the expenses of obtaininq such subsequent "Permanent
F'inancing" s2~a11 be paid by the maker or its successors or assigns,
in reduction of principal of this note. Al1 remaining princ~.pal
w~th interest thereon shall become due and payable on January l,
19a3. In addi.tion to the payments of principal required to be
; made as set forth hereir~above, the maker may prepay principal
` in whole or in part, at aiiy time, without penalty.
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~ All payments of principal hereunder other than
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~ the monthly payments commencing one month after the obtaining
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~ of "Permanent Financing" shall be ap~lied to installments coming
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~ due in inverse order of maturity.
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~ Neither the maker hereunder nor any of its partncrs
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~ nor any successor_or assign shall have any personal liability
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hereunder and the payee agrees, in the event of default, to look
y:
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= solel_y to the security of the mortgase s~curing this note, anc~
_=F the promises to pay herein contained are set forth }~erein solely
to confirm the acaaunt of indebtedness and the time and manner of
repa}?r~cn t thc~ cof .
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BooK 209 ~A~ 155g
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