HomeMy WebLinkAbout1123 (iv) all proceeds of the conversion, vol-
untary or involuntary, of any of the foregoing into
cash or liquidated claims, including, without limita-
tion, proceeds of insurance and condemnation awards;
(v) all leases of the Premises, or any part
thereof, now or hereafter entered into and all right,
title and interest of the Mortgagor thereunder, in-
cluding, without limitation, cash or securities
deposited thereunder to secure performance by the
lessees of their obligations thereunder, including,
further, the right upon the happening of any default
hereunder, to receive and collect the rents there-
under.
Article 2. Payment of Principal and Interest
The terms of payment of the principal sum of
$1,300,000.00 are hereby modified, and the Mortgagor covenants
to pay the principal sum of $1,300,000.00 in lawful money of the
United States on May, 1995 and not prior thereto, except as
otherwise in this Agreement expressly provided to the con-
trary, and in addition thereto, to pay interest thereon from
the date hereof at the rate of eight and three-quarters percent
(8-3/470) per annum. Said interest and principal shall be paid
as follows:
Interest only on the first day of May,
1975; commencing with the first day of June,
1975, and on the first day of each succeeding month-
" constant monthly installments of interest and prin- `
~ cipal shall be due and payable in the amount of
~ $10,562.50 to and including the first day of May,
i 1995 when the entire unpaid principal indebtedness
~ and accrued interest thereon shall be due and payable.
~ s
" Mortgagor hereby assumes and agrees to pay the `
~ aforesaid principal sum of $1,300,000 and interest thereon as
~ hereinabove set forth and will comply with the other terms of
~ the Note and Mortgage as hereby modified and extended, except
~ that whenever the terms and conditions of the Note and Mortgage
~ conflict, then the terms and provisions of this Agreement shall
prevail. ~Jntil such time as Mortgagee shall notify Mortgagor in
~ writing to the contrary, all payments required to be made here- i
~ under shall be made to the Mortgagee at its address hereinabove
~
~ set forth.
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Article 3. Prepayment
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~
'a Mortgagor shall have no right to prepay the whole
~ of the principal sum represented by the Note and secured by the
x. Mortgage, or any part thereof prior to May 1, 1982.
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