HomeMy WebLinkAbout2568 Lxhibit "1~" - Pagc 2
rights oE the 2~7ortyagee under any other existing or subsequent ~
defauli: undcr this r.lortgage or the note secured hereZ~y.
Mortc~agor covenants and a.~rees that in the event'of the sale or
other disposition of thc ~ropcrty hereinbefore described or re-
ferred to :zerein, 2lortga<3ce shall have tlle right, at its opti~n,
to require that the princinai ariount~ of the indebtedness sccured
hereby be r~ciuce3 to the siun of $150, 0~0.00, and in the event of
the exercise of such option by :~Iortgagee ans in the event Mort-
gagor, or i~s successors or assigns, shall fail or neglect ~ror~ptly
to riake such payments as are necess ~rv to su reduce said princiual,
Afortgagee shall '.iave ~he right at iks option to i:nmediately anc:
without further ~otice declare the entire indebteciness secured or
to be secure3 by this :.tortga_r,e to be ii~nediately due anc3 payable
and to foreclose or to e::ercise any oth~r rights or remedies which
t~fortgagee shall have in the premises.
IiJ t~1IiPdESS i~TII~REOF the foregoing Fxhibit "11" is hereby incor-
porated in the executed Mortgage ~rhich precedes it.
ti•IITN~SS~S :
I~1Y O O•, Ir T1.D
M; a-'~,' ~ By :
o ~ , Ge eral Partner
'~t--___-~__-._ _ ~ gy ; ~ll t; l ~ ' J- _
Har y~7, i:night, General Partner
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lBy: ' ~ ~ .
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L Willian H. Parr, General artner
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