Loading...
HomeMy WebLinkAbout1804 ~ Association finds that it is necessary to determine its loan in = ; defaul.t and to apply to the court for relief inclu3inq the appoint- ; , ment of a receiver, liqu~dator or trustee, such event shall not constitute a default under the Original-Mortgagee's security in- struments and that the Oriqinal Mortgagee will de~er to the Asso- ciation in the appointment of such receiver, Iiquidator or trustee; provided, however, if subsequent thereto there should be a default under the Original Mortgagee's security instruments and the Orig- i inal Mortqaqee applies to the court for the appointment of a re- ceiver, liquidator or trustee, the Association agrees to cooperate to the end that such last mentioned receiver, liquidator or trustee, if appointed and if penaitted by the court, shall take the place ~ of the first appointed receiver, liquidator or trustee. 6. It is aqreed between the parties hereto that the granting ? ; t _ of any extension by the Oriqinal Mortgaqee of ti.me for payment of ~ ; any sum coming due under its lien docwment, the amendment or modi- fication of any of the terms or provisions of any of the Uriginal i Mortgagee's several security instruments (other than the increas- ing of the principal indebtedness by additional advances except for those type things described in the second sentence of para- graph 4 hereof) or its failure to exercise any right to mature the whole debt or any other waiver by the Original Mortgagee shall not in any wise affect the mortqage rights of the Original Mortgagee an~ shall not operate as a release of any liability or any covenant or stipulation contained in any of the security instruments or affect the priority thereof as set forth in this Agreement. ; 7. Notices shall be in writinq and mailed or hand delivered ~ to the parties hereto at the following addresses: Borrower Kay-Two Grove, Limited ~ c/o William H. Parr & Co. Box 1161 ` Darien, Connecticut 06820 Original Mortgagee Connecticut General Life Insurance Company 910 Steuar.ons Tower North Dallas, Texas 75207 - 5 - . 1.3i - Igo2 - - ~ ~ _ _ ~ ~ _ ~ ~ .