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Home My WebLink About1723 f -3',--; • ' . ~ j,`:.a"` ~ ~ ~ 'T~ ' RIOER At7AC11E0 1'O ANA SPECIPICIILI.Y lU1DE A PARt OF ~ ` 'Pf{AT CERTIIIN YOR'DGAGE DATEO ~~1~ . 197? ~7(F7CllTE~ BY MJ?LTER KJ?SSU[!J1 RFJILTY CORpORJ1TiON. IN ~ t~ FAVOR OF JACK R. CWRSHON, AS NOMIH~E OP TI1E tRUST- ~:.:.r.~. ~ EES OP E2RST MOR'I+GAGE INVES'1'ORS. 11 MA55. BUSINESS f `"~~-a}d.:,. TRUST. x~`;.`_ - - _a'; ; c.-~. pasaqraph 16 ~f t:~e vithin Kortgaqa is to rcad as follows: ~ ~'"~`~``i 16. 'No transfer. assiqnnent or hypothecation of all os any par~ of the seeu- - sity tor this Nortqa3e ska31 be madt Dy Hortqagor or by a p2tdqor vithout ffrst havin9 obtained the prior written consent of 4ortqagee, No dissolution ot a corpozate Dorrower shall be suffered os pera?ittcd vathout said prior written ' ~onsent haviag beea first obtained. 1?ny ttansfer or trhnsters ot the c~pita! {t:. scock of a corpozate borrover vhich would have the effect oE transferrirq• votinq '°`R„ control the.eot fraw wntrolli ~ ng stockholders aL the time of the erecution~ot ` thi~t Mortgaqe (eaccept a transfer by reason of Lhe death of a stockholder) sha21 ~`°'=~i"" De deemed to be a pzohfbited transfez by the corporate borrover unless the written eonsent of Kortqaqee thereto is firat obtai~ed. liith zespect to any.~onveyance ~ ~ to vhich the :tortgayee ahall consent hereunder, the transferee shall'aqtee to assmne the pay~ent oE the obliqation evidenced by the aforesaid psomissory note ~nd all obliqations contained in L~is ~artqaqe indentur~ ar.d in t:~e Loan Agree- rent in accorda,nce with theiz respective tezms,~any such consent under this para- °-ti'~ s : ~ graph vill not be unreasonably vithheld. 'Y.G y-. ~r• ~ . j _ : ~ ~ Y> If all cr any part of the preinisas shall be damaged or taken throuqh con- x~'n deonation, (which tezm when used in this indentuze shall include any darage or ` lakinq by any qovezntnental aut'~ority and any transfer by private sale in lieu thereof), either tanporarily or permanently, the entire indebtedness secured l~ueby shall, at the optfon of the Kortqaqee, become imnediately due and payable. - x''~ ` ' _ 3'he ltortgaqee shall be entitled to all eompensation, awards, and other paye+ents ~ of relief thereof and is hereby authorized, at its option, to camsence, appear ~ in and prosecute, in ~ts o+rn or the Nortgaqor's name, any aciion or prxeeding ~ y~#f ` xe2atioq to any condannation, and tb settle or compromise any elaim in connec- ~ ~ tion therevith. 1?11 such canpensation, avards, daoages, clains, rights of ac- ~ tion and pmceeds and the right thereto are hereby assiqned by the Mortgaqor to , ~s-s the ltortgaqee, who after deducting therefrom all its expenses, ineludinq attor- ~ y:; tuy's f~es, day release any manies so zeceived by it vithout affecting ~2~e lien ~r of this deed and may apply the same in such manner as the Kortqaqee shal! deter- ~ wine, to the reduction of the sues hereby secured, and to any prepayment fee herefn ~ ~ provided, and any balance of surh monies the~ remaining shall be paid to tAe Ho~t- ` =~;y ~ •.gagor. The Hortqaqor aqrees to execute such further assignaent oE any coa?pensa- 1 ~r ~,=;.r tion, avards, da~wges, claims, riqhts of action and proceeds as the ltortqagee aay ' ~ ~ aw ~ "'P zeqvire. ~ ~ ~a - ~5. To further secure the paymen! of the taxcs and assessments hereinafter ze- # terred~to and the preaiuas on the hazard insurance hercinaf.er referred :o, and f ~ upon the request of the !lortgagee, the Hortgagor vill deposit vith the Ftortgaqce, . r ~ on the due date of each aonthly instalLoent under Che Note, a suu xhicb, in the ~ ~ z3 ` estf~sation of the Kortgagee, shall be equal to one-tvelfth (1/12th) of the annual ~ ` - .taxea, assessaents and hazard insurance praniums; said deposits to be held by the € ~ ~ Nort , 9d9ee, free of interest, and free of any liens or c2aic.s on the part ot cze- : dito=s oE the Hortqaqe and as part of the security of thc :tortqr ec, and to be ~ ~ ; used Dy the Hortga9ee to pay current taxes and assess~+ents and hazard insurance t '~`::x = Pi~i~s on the prcyaises as the same accrue and are payablc. Said deposits shall ! not be, nor be de~eed-to be, trust funds but awy be cprmingled with the general ~ funds of thc Kortqagee. If said deposits are insufficient to pay thc taxcs an3 ~ ~ ~ ; assessments and hazord insurance prcaiums in full as the sauac becocoe payable, ~ i~`-' f_ f` tT~e F:ortgagor vill deposit with the flortgagee such additional sum or su~s as nay i ~ ~ ' e = } ` i~ x~ bo.zequircd in ordcr for thc Afortqnqee to pay such taxes and ~s~essacnts and ~ a`,< h~zard insurancc pre^+iums in full. Upon any def~ult in thc provisio~s of this ~i indenturc or thc .~otc, thc Ftortga,cc raay, a[ ita option, aF~ply any :~onics in thc .-X^' ` ~ ~h~ `ii fund resulti« fron said dc ~ ~ f ~ g posi[.^, to thc payc~ent of thc indebledrecss sceured _ , Y hereby in such nanntr as it raay clect. { ~ _ _ ; # ~ ::x = ~ ~ ~ s t - k o. , w u ~J Q ! i i gr.r;~ M',~ ~ ~ ~ ,g~~ _ ! ~ ~ r f , u?rr o~ncis. couwsatw ~ cou~sHON. r, • • r+~~r~ ~t~cN. nowww s~~~ ` _ t ~ . i s-: a ~ ~ ~~m-~ . z ~__,i . _ .~.'~r - # ~ F ~ _ U R ~ - _ ~ s . . Q~)~y `y - , . . , _ . ` _ - : ' ~ . ' ' . 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