HomeMy WebLinkAbout2344 interests and their and each of their. priorities. Mortgagor agrees to
pay Mortgagee on demand all .,fees, costs and expenses incurred by
Mortgagee in connection with the preparation, execution, recording and
filing of each such document. This mortgage shall constitute a suffi-
cient security agreement to support any such financing statements or
other documents, pursuant to the Uniform Commercial Code or other.appli-
cable laws of the pertinent jurisdiction. If the lien of this mortgage
on any fixtures or personal property be subject to a conditional bill of .
sale, chattel mortgage or security interest covering such property, then
in the event of any default hereunder all the right, title and interest
of Mortgagor in and to any and all deposits are hereby assigned to Mort-
gagee together with the benefit of any payments now, heretofore or here-
af ter -made thereon . -
29. To the extent of the indebtedness of Mortgagor to Mortgagee
described herein or secured hereby, Mortgagee is hereby subrogated to
the lien or liens and to the rights of the owners and holders thereof of
each and every mortgage, lien or other encumbrance on the land described
herein or secured hereby, and the respective liens of said mortgages,
liens or other encumbrances, shall be and the same and each of them
hereby is preserved, and shall pass~to and be held by Mortgagee herein
as security for the indebtedness to Mortgagee herein described or hereby
secured, to the same extent that it would have been preserved and would
have been passed to and been held by Mortgagee had it been-duly and
regularly assigned, transferred, set over, and delivered unto Mortgagee
by separate deed of assignment, notwithstanding the fact that the same
may be satisfied and cancelled of record, it being the intention of the
parties hereto that the same will be satisfied and cancelled of record
by the holders thereof at or about the time of the recording of this
mortgage.
30. That the abstract or abstracts of title covering the mortgaged
property shall at all times, during the life of this mortgage, remain
in the possession of Mortgagee and in event of the foreclosure of this
mortgage or other transfer of title to the mortgaged property in extin-
guishment of the indebtedness secured hereby, all right, title and
interest of Mortgagor in and to any such abstracts of title shall pass
to the purchaser.
31. That notice, demand or request shall be made in writing, in
person or by mail, and shall be sufficient notice, demand or request in
f any case arising under the provisions of this instrument or as required
by law.
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~ 32. To pay all and singular the costs, charges and expenses,
including attorney's fees and abstract costs, together with interest
thereon at the highest rate permissible under the laws of the pertinent
jurisdiction, and if no maximum rate has been promulgated, then at a rate
six (6 per cent higher than the rate set forth in said note, reasonably
incurred or paid at any time by Mortgagee because of the failure of
Mortgagor to perform, comply with, and abide by each and every the
stipulations, agreements, conditions and covenants of said note and of
this Mortgage, or either.
33. That if any clauses or provisions herein contained operate or
would prospectively operate to invalidate this Mortgage in whole or in
part, then such clauses and provisions only shall be held for naught,
~ as though not herein contained, and the remainder of this Mortgage shall
be operative and in full force and effect.
34. That to the extent permitted by law with respect to the note
secured hereby or any renewals or extensions thereof, Mortgagor waives,
renounces, for himself and family (and if the Mortgagor is a corporation
- for itself, its successors and assigns) any and all homestead and exemp-
tion rights, as well as the benefit of all valuation and appraisement
;y privileges, and stay redemption and moratoriums under or by virtue of '
the laws of any jurisdiction, state or of the United States, now existing
or hereaf ter enacted. ~
5ecK3U4 Pac`2341
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