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38CTION 1x.03. Bxcept as provided in Section 12.01 hereof, if at any time
during the term of this Mortgage more than one person or corporation attall be the owner
of the Mortgaged Property, then any notlces, demands or requests given by Mortgagee
to any one of such persons or corporation shall be deemed to have been duly given to
Mortgagor for all purposes under this Mortgage, and any notices, demands or requests
given by any one of such persons or corporations owning the Mortgaged Property to
Mortgagee shall be deemed to have been duly given by Mortgagor for all purposes under
this Mortg~ege, it being the intention that each person or corporation owning the Mortgaged
Property irrevocably designates all other such persons or corporation, or airy one of them,
as thefr, his or its agent for the purpose of giving and receiving all notices, demands
and requests required to be given or received under the provisions of this Mortgage.
ABTICL813
General Covenants
SBCTION 13.0E If anp? installment of interest, principal, or principal and
interest is not'paid when due it shall bear interest at the rate of fifteen a59~6) per cent
per annum from the due date thereof until paid, and shall be secured by this Mortgage.
SECTION 13A2. Mortgagor warrants that this Mortgage is a valid first
lien on the Mortgaged Property and there are no offsets, counterclaims or defenses to
the principal indebtedness above mentioned as being unpaid, secured hereby, or to any
part thereof, or the interest, thereon,. either at law or in equity.
SECTION 13.03. The execution of this Mortgage has been duly consented
to by the stockholders of Mortgagor and has been duly authorized by its boards of dfrectors.
SECTION 13A4. Mortgagor within three days upon request in person or
within ten days upon request by mail will furnish a duly acknowledged written statement
in form satisfactory to Mortgagee setting forth the amount of the debt then secured
by this Mortgage, and stating either that no offsets or defenses exist against the Mortgage
f indebtedness, or if such ofisets or defenses are alleged to exist, the nature and extent
thereof.
SECTION 13A5.• In case of any sale under this Mortgage, by vfrtue of
judicial proceedings, the Mortgaged Property may be sold in one parcel and as an entfrety
or in such parcels, manner or order as Mortgagee in its sole discretion may elect.
~ SECTION 13A6. Mortgagor shall promptly pay upon request all expenses
and costs incurred by Mortgagee, including reasonable attorney's fees, together with
interest thereon at the rate of fifteen p~ereent (1591;) per annum from the date of the
payment thereof by Mortgagee, in connection with any action, proceeding, litigation
or claim instituted-or asserted by or against Mortgagee or in which Mortgagee bes~omes
engaged, including without limitation bankrupteq, reorganization, arrangements, receivership
or similar proceedings, wherein it becomes necessary in the reasonable opinion of Mort
gages to protect Mortgagee's interest in the Mortgaged Property or the security afforded ~ 's.
hereby, oc to defend or uphold the lien of this Mortgage, or the validity or effectiveness
or any assignment at any Maim, award, payment, property damage insurance policy or
arty other right or property conveyed, encumbered or assigped by Mortgagor to Mortgagee
hereunder, or the priority a[ any of the same, and ell such expenses and costs, and said
interest thereon, shall be added to and become part of the principal indebtedness of Mort
~ gagor-hereunder and be secured in all respells hereby as if pert of the principal indebt-
~ edness of Mortgagor hereunder and be secured in all respects hereby as if part of the
original indebtedness evidenced by the Note; provided, however that in any action to
~ foreelo®e this Mortgage or to recover or collect the sums due hereunder the provisions
v of law and of this Mortgage relative to the recoverq of costs, disbursements, commis-
sions, allowances and attorneys fees, shall prevail unaffected by this Section 13A6.
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