HomeMy WebLinkAbout1973 I
If all or an art
y p of the property or an interest
therein is sold or transferred by Mortgagor without tiiortgagee's
prior written consent, excluding (a) the creation of a lien
or encumbrance subordinate to this Mortgage, (b) the creation
of a purchase money security interest for household appliances,
(c) a transfer by devise or descent, or by operation of law
upon the death of a joint tenant, or (d) the grant of any
leasehold interest of three years or less not containing an
option to purchase, Mortgagee may, at its option, declare
all the sums secured by-this tortgage to be immediately due
and payable. Mortgagee shall-have waived such option to
accelerate if, prior to the sale or transfer, Mortgagee and
the person to whom the property is to be sold or transferred
reach agreement in writing that the credit of such person is
satisfactory to Mortgagee and that the interest payable on the
sums secured by this Mortgage shall be at such rate as
Mortgagee shall request.
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