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thereunder from MgY 9 . 19» .
. (b) All such paqments provided to be paid by mortgagee,
pursuant to the provisions of subparagraph (a) hereof, shall
be made by mortgagee before the expiration of the applicable
grace perioda provided for such payments aa containsd in the
Fira~ Mortgage.
(c) Notwithstanding the~foregoing, mortgagee's obligation to
make the respective payments o£ principal and intereat as snd
when due under the First Mortgage is conditioned upon the
following: .
(1) Mortgagor ahall not be in default under this mortgage;
(2) Mortgagor sha~l coanply with all of the terms and pro-
~ visiohs of the First Mortgage other than with respect
to the payments o~~p-r~nc~pal and interest due thereunder
af ter Ma9 9 19 77 .
_
~(d) Mortgagee.does not assume any of the obligations of mort-
gag or under the First Mortgage except as hereinbefore pro-
vided with respect to payments of princip al and interest due
- thereunder after Ma9 9; , 19
7`.
S. Mortgagee shall not be required to~.and mortgagee agrees that
it will not, make any prepaymenta of .principal or of interest
under the First Mortgage unless mortgagor shall first
' consent in~t~~~eto.
6. Mortgagor covenants and agrees not to exercise anq right or
privilege of prepayment of the First Mortgage and further ~ -
_covenants and agrees not to enter to any agreement with the
holder of the First Mortgage modifying or ainending any of
the provisions cT'eal~ng
with payment of principal or interest -
thereunder ~ithout the prtor written consent of mortgagee there-
to. . - ~
7. In th~ event the unpaid principal balance of the First
Mortgage is reduced by the holder of said mortgage
appT~y~ng
inaurance proceeda in reduction thereof or by prepayments made
by morrgagor with the prior written consent of mortgagee so
' that mortgagee's obligation hereunder to pay to the holders of
the First Mortgage, the unpaid principal balance of said
; mortgage as ereinbefore prnvided ia similarly reduced, then
~ and in such event, mortgagee agrees that mortgagor's obligation -
° to pay the total indebtedness to mortgagee hereunder, shall be
~ likewise reduced by an equivalent amount; such equivalent
~ amount to be deducted from the final~payment to be made by
mortgagor to mortgagee hereunder, in the inverse order of
~ their due date.
~ .
~8. If the mortg agee shall default in making any required payment
of principal and/or interest under either or both of the First
Mortgage, the mortgagor shall have the right to advance t e
fun~ necessarq to cure such default and all funds so advanced
by mortgagor together with interest thereon at the rate of
~ 8 1/2x per annum shall be credited againat the neut install-
ment~e) of interest and principal due under the ~fote secured
by this mortgage. - -
9. (a) The Mortgagor covenants that if and when requested bq
~ the mortgagee that at the time the mortgagee herein acquires
the First Mortgage that the owner of the premises will
execute suc documents as mortgagee or the holder of this.
mortgage or the note aecured hereby may require to evidence -
~ 5~ ~~K27~3 ~159~9 ~
j ~IOIIM~ L~ JR /w. ~ ATiOAM? AT {A~ ~ 1N YMOMIM A11/MYR Wflt /M ~ f01if M/IIOi. f?OIIIOA ~MN ~ pM ~M4~M
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