HomeMy WebLinkAbout0617 _ ~
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ending at an a~nnivereary of the date from whiah intereet ~
acaruee hereunder, added to obligstory prinoipal pe~ymente, ~
if ar~}r, falling due vithin euoh one-year period, shall not
- ezaeed one-fifth of the prinoipel eus p~rable wader the
terme of thie inetrument. A~iditionai p~ymeate made under
the terms of thia privileg~a ehall, at sr~y time theaceafter,
~+quest of the owner of the property
eeauring thie indebtedaeee, be coaQeidered ss hsving been ~
made in lieu oY future obligatory prinoipal pe`ymente to
the eztent only of the amount of euch additioaal paymente.
After five yeare from date hereof, pe~yment in ltiill
of this in~debtednees ma~q be made on ar~y intereet due date
if there ie also paid a prep~}rmeat coneideratioan of y'~6 of . ~
that part of_euah payment in tl~tll vhich ezceede the amount
that me~y be paid, at the time of euch pa`yment, ~?ithout pre-
p~yment coneideration. . ~
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FO~ktTH: Thie is not a new obligation to pay money and the Notes and t
Mortgag~ee, aad all their terms and oonditione, covenants aad agreements ehall
remain ia t~ill force ar~d eff~c~t, ezcept as conaolidated, aoordinated, modifiad
ar~d erten~ded. In the eveut of aay default ur~der the terme of the Aotes or Mort-
gages herein desoribed, the liability of CBARLSS M. CAI~BSLL sad ~AAD A. BGAN
ehall be~limited, each being eeverally liable for 5096 of the total euaoe due and
oMing on the caneolidated balaace of the t~+o Notee herein deecribed to PRIID~~TIAL
~rhiah ezaeeds =2s75~,~•
FIFTB: In the eveat of ar~y conflict between the covenante and oon-
ditions of the Mortgag~e deearibed in Paragraph 1 sad the Mortgag~e desoribed in
Para~raph 2, the covenaute arid conditiona of the Mortgag~e deecribed in Paragraph
2 shall prevail arid g~overn.
SIXTH: In case au~y installment ;.nterest or principal be not paid
promptly ae it becomea due aad ps`yable, ~rithout demand, aacording to the terma ~
-a¢~d tenor hereof, or if eaah and every of the terms and aondi~ions, covenants
sad a~ree~oents of the Aotes and Mortgsgee ae herein aonaolidated arid modified
are not duly performed a~d complied ~?ith, then the Lmpaid balaace of the prin-
aipal of the Rotea as here3n conaolidated and modified with the accrued intereat,
and a11 other sume provided for in arid by the conaolidated Fotee and Mortgagee,
shall, `+ithout notiae, at the optio~ of PS~EATIAL beca~e immediately due arLd
paprable a~d the aonsolidated Mortgag~es m~y be foreclosed in the manner arLd as
f~lly sY~d completely ar~d with the same effect se if the indebtedness of the Rotes
were originslly etipulatad to be pafd on that date or had otherwiee ma.tured.
! IN WI'i'l~SS B~ROI~IER and PR~II~IAL have ezecuted this Agree- ~
ment in the manner and form Bufficient to bind it, a11 as of the date indiQated.
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E lla~ P1LL7 ~fAV•1hIJ~ 11,\i• ~
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Charlee M. Campbel , ai, : n'';~
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~ ~ PRIIDEtTI'IAL INSIIItANCE COMPAPY f
OF A~RI i .
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BY' s
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Geor . Pete on, Vice President ~
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A~STS • • - ~~I ;
L. Weetney, Jr., A~et ~ ` _ . `
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(Corpora ~ c~
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