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entitled to any part thereof, unless and until there is a surplus remaining aster all of t
the aforesaid payments and any other necessary payments; and Qii) immediate notice
of the institution of such foreclosure proceeding shall be given to Mortgagee and true
copies o~i all papers served or entered in such foreclosure proceeding shall be served
upon Mortgagee.
An executed counterpart of each Subordinate Mortgage shall be delivered
to Mortgagee by Mortgagor within ten (LO) days after the execution and delivery thereof
by Mortgagor.
Such Subordinate Mortgage shall contain an express covenant to the effect
that it is to all respects subject and subordinate to the lien and terms, covenants and
conditions of this Mortgage and that the Mortgagee thereunder will upon demand further
subordinate said Mortgage to the lien and terms, covenants and eortditions of this Mort-
gage as hereinafter extended, renewed, modified or consolidated.
PROVIDED ALWAYS, that if Mortgagor shall pay all the sums secured
by this Mortgage at the times and in the manner provided herein, in the Note and in the
Agreement, and shall keep, observe, perform and comply with all of the prarisio~ of
this Mortgage, the Note and the Agreement, to be kept, observed, performed or complied
cease and have no further effect; and in such ease, Mortgagee, on demand of and at the
sole cost and expense of Mortgagor, shall execute proper instruments in recordable form
acknowledging satisfaction and discharge of this Mortgage and shall release or assigp
all of Mortgagee's rights, title and interest of, in and to the Mortgaged Property, and
shall deliver to Mortgagor any other property then pledged to and held by Mortgagee
pursuant to the terms of the Note, this Mortgage and the Agreement including all policies
of title, fire and property damage insurance theretofore furnished or assigned to Mort-
gagee and any monies not theretofore applied by Mortgagee in accordance with the Note
or this Mortgage.
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-2~- B~K 315 PA~E164Q _