HomeMy WebLinkAbout0963 the unpaid balance owing to mortgagee or said holder of this
mortgage and said note. The failure of mortgagor to furnish
such statement within ten (10) days of the request therefor
shall be deemed an acknowledgment by mortgagor that to mort-
gagor's best information and helief. no offsets or defenses
exist against mortgagor's indebtedness under the note secured
hereby and that all regular installments of principal thereon
(and no other) have been made.
(b) Mortgagee aprees that if mortgagee acquires Che ~irs~
Mortgage by assignment from the holder thereof (in lieu o~'-
satisfaction) upon payment thereof by mortgagee to said holder,
that mortgagee. upon payrnent to mortgagee by mortgagor of the
total indebzedness oi the note secured by this mortgage, will,
at the option of mortgagor, execute and deliver to mortgagor
an assignment or satisfaction of such first Mortgage
together with an assignment or satisfact on o t is mortgage -
all taxes and expenses (including mortgagee's reasonable counsel
fees) in connection therewith to be paid by mortgagor.
10. That the mortg~gor shall furnish to the mortgagee promptly ~
copies of all notices of default which the holder of the first
Mortgage shall give to mortgagor, or which the mortgagor s~~
give ~o or receive from tenants of the premises or any part
or parts`Chereof based upon the occurrence or alleged occur-
rence, of any default or defaults in the performance of leases ~
of spac~ tenants occupying any portion of the premises.
11. .iortgagor shall have the right to.prepay the whole or any part
of Che unpaid balance of the indebtedness hereunder at any
time on thirty (30) days' notice without penalty,
none
Any partia prepayment s a e app ie aga nst t e unpaidr-~
principal installments of the Note secured hereby in inverse
order of maturity. In the event mortgagor wishes to prepay
the whole of the unpaid prin~ipal balance of the indebtedness
hereunder. the amount to be paid by mort agor shall be that
amount determined by deducting from the ~ 24,000.00 ,
original principal indebtedness of mortgagor erein~e aggre-
gate of the following:
(1) the aggregate of all payments credited on account of
principal because of payments made by mortgagor hereunder
in amortization of said original principal indebtedness
to the date of such prepayment and
(2) the aggregate amount, if any. by which said original
principal indebtedness hereunder has been reduced by mort-
gagor's applying insurance proceeds and/or condemnation
award proceeds in reduction of said principal indebtedness;
and
(3) that amount computed by deducting from $ 12,499.69
(the present total of the unpaid principa2 ba ance un er
the first *4ortgage) the aggregate sum of all pay-
ments cre ite on accounts of principal due under said
first ~iortgage because of payments made by mortgagor
ereun er in amortization of the unpaid principal balance
of said first Mortgage.
IN WITNESS WHEREOF, the said mortgagor and mortgagee have here-
unto signed and sealed these presents the day and year first above
written.
8a ~zss P~~E 9s~
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