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HomeMy WebLinkAbout1131 and, on demand, will execute and deliver, and hereby authorizes the Mortgagee to execute in the name of the MorC- gagor Co the extent it may l~wfully do so, one or more financing statements, chattel mortgages or comparable security agreements to evidence more effectively the lien p£ the Mortgage upon the Chattels. The Mortgagor, within three (3) days upon request in person or within five (S) days upon request by mail, will furnish a written statement duly acknowledged of the amount due whether for principal or interest on this Mortgage and whe- ther any offsets or defenses exist against Che indebtedness - secured hereby. Article 17. Filing and Recording Fees, Etc. All"filing, registration or recording fees, and , all expenses incident to the execution of this Mortgage, any security instruments with respect to the Chattels and any instru- ment of further assurance, and all federal, state, county and municipal taxes, and other taxes, duties, imposts, assessments and charges arising out of or in connection with the execution and delivery of the Note, Mortgage, this AgreemenC, any security instrument with respect to Chattels or any instrument of further assurance are the obligation of the Mortgagor unless the same sha11 be unlawful, and the Mortgagor will pay all such amounts ~ when due. . ' If at any time, the United States Government or any other governmental subdivision shall require the payment ~ of the United States Interest Equalization Tax upon the obliga- ; tion secured hereby, then the said indebtedness and the accrued i interest Chereon shall be and become due and payable at the elec- E tion of the MorCgagee thirty (30) days after the mailing of F ; ~ notice of such election to the Nbrtgagor; provided, however, ' ~ that said election and the right to elect shall be unavailing ~ and the Note shall.be and remain in effect if the Mortgagor may ° lawfully pay for such tax, including interest or penalties thereon, ~ and does in fact pay the same. The Irbrtgagor further agrees to ~ deliver, upon demand, such evidence as may be required by any ~ governmental authority having jurisdiction in order to determine ~ whether the obligation secured hereby_is subject to or exempt ~ ~ ~ from such tax. ~ ~ ~ ~ ~ ~ Article 18. Mortgagee's Right to Cure ~ ~ ~ - Upon the failure of the Mortgagor to comply ~ with or perform any of the terms, covenants and conditions herein, ~ the Mortgagee may comply with or perform the same, and the cost "g thereof together with interest at the rate of fifteen percent ~ (15%) per annum shall be payable to the Mortgagee by the Mortgagor ~ on demand, and secured by the Mortgage and this Agreement. The exercise s by the Mortgagee of its rights under this Article shall not pre- ~ ~ clude the MorCgagee from exercising any of its other rights Z ~ ~ ~ _ ~ ~ -11- ~ ~ BooK238 PA~E1130 ~ ~ ~ ~ N~ ~ ~4~,. . . _ . S ~*v-•~.^~l . ~ ~~v ~•n" w} , at) - ~ . . . 4'~^~ ~'1 .