HomeMy WebLinkAbout0738 ' Paqe Two of Three
will not impair the lien of said mortgage and that there is no existinQ
second mortgage or other lien subsequent fio the lien of the aforesaid
mortgage held by Mortqagee (for breach of which conditions, or either
of them, this aqreement shall not take effect and shall be void), it is
hereby agreed as follows:
1. Assu~aption of Mortgage. Purchaser hereby covenants,
promises, and agrees (a) to pay satd note at the times, in the manner
and in all respects as therein provided, (b) to perforna each and all of
the covenants, agreements and obliqations in said mortqaqe to be per-
formed by. Mortgagor therein, at the time, in the manner and in all re-
spects as therein pr~vided, and (c) to be bound by each and all of the _
terms and pr~visions of said note and mortgage, except as modified herein,
as thouqh the said note and mortqaqe had orlqinally been made, executed
and delivered by Purchaser, this agreement recoqnizinq, however, the
reduction if any,- of the principal amount of said note and the payment of
interest thereon to the extent to payments made by Mortqaqor and/or
Purchaser prior to the date of execution of this agreement.
2. No impairment of Lien. All of the real property described in
' said mortgaqe shall remain in all respects subiect to the lien, charge or
i
; encumbrance of said mortgage, or conveyance of title effected thereby, and
` nothing herein contained, and nothing done pursuant hereto, shall effect or
be construed to affect the lien, charqe or encumbrance of, or wairanty
a
of title in, or conveyance effected by said mortgage, or the priority thereof
over other liens, charges, encumbrances or conveyances, or, to release
or affect the liability of any party or parties whomsoever who may now or
hereafter be liable under or on account of said note and/or mortgaqe; nor
~ shall anythinq herein contained or done in pursuance hereof affect or
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~ be construed to affect any other security or inst=vment, if any, held by
~ Mortgagee as secwrity for or evidence of the aforesaid indebtedness.
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~ 3. Mortgaqee hereby covenants and aqrees that it will not seek
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