HomeMy WebLinkAbout0302 (c) It is aqreed that any default in the terms of said
Moctgages shall likewise constitute a default in the terms of thfs
Mortgage, entitling the Mortgagee to declare as immediately due artd
payable without de:nand all sums of money then remaininq unpaid and
secured by the lien of this Mortgage. It is atso agreed that any '
paymen~ necessary or proper to be made by Mortgagee to the holder
of said Mortgages to maintain said Mortgages in a current condition
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shall likewise be secured by the lien of this Mortgage. - °
21, Release. With the consent of Mortgagee, the Mortgagor
shall have the right ta release parcels of land from the lien of this
Mortgage upon payment by Mortgagor to Mortgagee of a release
percentage of 120% per acre of the lands to be released. Release pay-
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ments received by Mortgagee under the provisions of this paragraph shall
be applied to the unpaid principal balance of the Note secured hereby and
- shall not release Mortgagor from making the monthly interest payments on
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the daily outstanding principal balance of said Note.
' IN WITNESS WHEREOF, the Mortgagor has executed this ir.stn:-
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~ ~ ment under seal the da~? and year first above written. ;
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s Signed, sealed and delivered
~ in the presence of:
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~ ~ - Z~~Q~. ~~N~ ~ ~ , (Z{C {
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~ ' Warren A. McFadden
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~ Mary Ann cFadden
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