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HomeMy WebLinkAbout2667 In the event of the passage of any law subsequsnt hereto, z changinq in any way the laws now enforced for the taxation of mort- ; ~ ~ gages or debts secured by a mortgage, or the manner of 'collection of ~ any such t~xes, so as to effect and lessen the net income on said ~ indebted~ess secured by this Mortgage, then and in such event, or at , any titae thereafter, at the option of the Mortgaqee,.the whole•of the prin~ipal sum secured by this Mortgage, together wit~ interest due ~ f thereon, shall, without notice to any party, become immediately due s; and payable, or, the Mortgagor shall pay to the Mortgagee, upon t•. periodic written request therefore, in addition to all other sums se- ~ cured by this Mortgage~, an amount ec~ual to such differential with re- s spect to the net income on said indebtedness secured by this Mortgage. 29. OTHER DOCUMENTS: ~ t Simultaneously with the execution of this Mortgage Deed and the ~ Mortgaqe Note, the Mortgagor.has made, executed and delivered unto the certain Mortgagee / other documents and agreeinents includinq but not limited to a Developme t Loan Agreement. This Mortgage Deed is subject to ~ all of the provisions contained in said documents, all of which are .r_ t incorporated by reference as though set forth herein in their entirety. ~ The failure by the Mortgagor to fully, faithfully and punctually ful- ~ fill its obliqations under any other agreement shall constitute a de- fault hereunder and entitle the Mortgagee, in the event said default is not cured within ten (10) days, to declare the unpaid balance of the indebtedness secure8 hereby imm~ediately due and payable. It is ' ~ r understood and agreed that notwithstanding the fact that the Develop- ment Loan Agreement and/or certain other documents-made in connection ~ with this Loan may not be executed by all of the parties named as ~ i Mortgaqor hereinabove, that the Mortgagee shall still be entitled to foreclose this Mortgaqe with respect to the interests of any and all parties named as Mortgagor hereinabove, whether or not the party is ; . . ; responsible for failing to fully, faithfully and punctually fulfill ; the obligations under any of the aforesaid documents and whether or not such party has executed such document. :;T 30. POST JUDGMENT PROCEEDINGS: ~ C~ In the event that judgment is rendered against the Mortgagor in ~ an action brought by the Mortgagee, inter~st shall accrue under said ~ judgment at 15$ per annum. In the event that judgment is rendered 'ii° r'JVO against the Mortgagor in an action brought by the Mortgagee and the Mortgagee requests the Court to set the amount of a supersedeas bond, the Mortgagor acknow2edges and agrees that the amou~nRt of the bond Pg . 8 of 14 BOOK 2~5. pA~~'6'4 ~~-,s~~.. : _ - ~ "f';'~~~. ~~.'S y~ k. i • . ' _ _ . ~ . . . _ ~ ~ - 3 - - ,e~~'~ ~ ~ h« ` ~+q ~ a^'~ si. A~~~~i``~~ .e-,.,r~._~,_.. ~