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arrangement pursuant to the Federal Bankruptcy Act, or any
similar Federal or state statute, shall be filed by or
against Mortgagor or any Guarantor or if any proceeding ~
for the dissolution or liquidation of Mortgagor or any '
Guarantor shall be instituted and, ff such appointment,
adjudication, petition or proceeding Was involuntary and
not consented to by Mortgagor or such Guarantor upon the
aame not being dfscharged, stayed~ or dismissed;
(j) if Mortgagor shall be in default under the Note or under
any other mortgage, instrument or document evidencinq,
secuting or guaranteeing payment of the Debt, in whole or
in part, or otherwise executed and delive~red in connection
with the Note, this Mortgage or the loan evidenced and
secured thereby;
(k) it Mortgagor shall be in default under any of th~ other
terms, covenants or conditions of this Mortgage;
(1 ) if Mortgagor shall be in default undec any mortgage or
deed of trust covering any part ot the Mortgaqed Property
which is superior in lien to this Mortgage; or
(m) if the Mortgaged Property shall become subject (i) to any
tax lien, other than a lien for local real estate taxes
and assessments not due and payable, or (ii) to any
mechanic's, materialman's or other lien.
22. Ric~ht to Cure Defaults. If default in the
performance of any of the covenants of Mortgagor herein occurs,
Mortgagee may, at its discretion, remedy the same and for such
purpose shall have the right to enter upon the Mortgaged
Property or any portion thereof without thereby becoming liable .
to Mortgagor or any person in possession thereof holdinq under
Mortgagor.. It Mortgagee shall remedy such a default or appear
' in, defend, or bring any action or proceeding to protect its
' interest in the Mortgaged. Property or to foreclose this
;
~ Mortgage or collect the Debt, the costs and expenses thereof
~ ( including reasonably attorneys' fees to the extent permitted
~ by law), with interest as provided in this paragraph, shall be
paid by Mortgagor to Mortgagee upon demand. All such costs and
~ expenses incurred by Mortgagee in remedying such default or in
~ appearing in, defending, or bringing any such action or ~
proceeding shall be paid by Mortgagor to Mortgagee upon demand,
~ with interest at 15$ per annum, or at the maximum interest rate
~ which hiortgagor may by law pay, whichever is lower, for the
period after notice from Mortaagee that such costs or expenses
were incurre~ to the c3ate of payment to Mortgagee. All such
costs and expenses incurred by Mortgagee pursuant to, the ter~rs
of this Mortgage, with interest, shall be secured by this
~ Mortgage.
23. Late Pa ment Charc~e. If any portion of the Bebt
~ is not paid within ti teen (15) days after the date on which it
; is due, Mortgagor shall pay to Mortgagee upon demand an amount
~ equal to 4$ of such unpaid portion of the Debt as a late
~ payment charge, and such amount shall be ~ecurea by this
~ Mortgage.
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f ~~,~1~312 ~~~E2742
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