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HomeMy WebLinkAbout0976 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 belief. 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 agrees that if mortgagee acquires the Mortgage by assignment from the holder thereof (in lieu o satisfaction) upon payment thereof by morCgagee to said holder, that mortgagee, upon payment to mortgagee by mortgagor of the ; total indebtedness of the note secured by this mortgage, will. at the option of moXtgagor, execute and deliver to mortgagor an assignmer?t or satisfaction of such first Mortgage together with an assignment or satisfact on o t is mortgage - all taxes and expenses (including mortgagee's reasonabie counsel fees) in connection therewith to be paid by mortgagor. 10. That the mortgagor shall furnish to the mortgagee promptly copies of all notices of default which the holder of the first . Mortgage shail give to mortgagor, or which the mortgagor s~al~- give to or receive from tenants of the premises or any part or parts~thereof based upon the occurrence or alleged occur- . rence, of any default or defaults in the performance of leases of space tenants occupying any portion of the premises. 11. Mortgagor shall have the right to prepay the whole or any part of the unpaid balance of the indebtedness hereunder at any time on thirty (30) days' notice without penalty, none ny part a prepayment s a e app ie aga nst t e unpai~-~ principal installments of the Note.secured hereby in inverse order of maturity. In the event mortgagor wishes to prepay the whole of the unpaid principal balance of the indebtedness ; hereunder, the amount to be paid by mort agor shall be that amount determined by deducting from the ~ 30,500.00 , ' original principal indebtedness of mortgagor ere n t e aggre- ~ gate of the following: ~ ~ ~ (1) the aggregate of all paymentis 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 morC- gagor's applying insurance proceeds and/or condemnation ~ award proceeds in reduction of said principal indebtedness; and ~ ~ 12,527.58 ` ~ (3) that amount canputed by deducting from $ ; ~ (the Pfirst t total of the unpaid principal ba ance un er ~ the 24ortgage) the aggregate sum of all pay- . ~ ments cre ite on accounts of principal due under said ' first Mortgage 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. N1 3 ~ ~t~{ ~ ~ ~~~K ~01?M~~ 976 ~r . ~ ~ ~ fi~ IIICNAl10 0. iN=[O. JQ ?.A. • ATTOIWEIf AT tA1M • 10~ WR0INIA AVENt1E. WR[ tOt • F011T ~IEIICE. i101110A i~MO - 1~061 NSti]0 r'; { 3 ; , - - ~ - - - ~ ~ > ~ ~ ~ ~ w r~ . r- - "