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(c) .Any and all expenses, including, but not limited to, title
company charges, recording and filing .fees, legal fees of the
attorneys for the holder of the prior mortgages in preparation
of an assignment of either mortgage and any tax, if any, that
may be hereafter imposed by any taxing authority in connection
with the compliance by mortgagee with the provisions hereof
dealing with the payments made or to be made to the holders of
the prior mortgages shall be paid by the mortgagor or any
owner of the premises when requested by the title company and/or
the attorneys representing the holder of the prior mortgages.
4. (a) Mort agee agrees to pay to the holder of ene prior mortgages,
the ~ 36 345.95 unpaid principal balance of said
mortgage, toget er wit all interest thereon accruing thereunder
from November 1 19 79
(b) All such payments provided to be paid by mortgagee, pursuant
to the provisions of subparagraph (a) hereof, shall be made
by mortgagee before the expiration of the applicable grace
periods provided for such payments as contained in the
prior mortgages.
(c) Notwithstanding the foregoing, mortgagee's obligation to make
the respective payments of principal and interest as and when
due under the pior mortgages is contained upon the following:
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(1) Mortgagor shall not be in default under this mortgage; s
(2) Mortgagor shall comply with all of the terms and
provisions of the prior mortgages other than with respect
to the pa ents of principal and interest due thereunder
after December 3 19 79
(d) Mortgagee does not assume any of the obligations of mortgagor
under the first mortgage except as hereinbefore provided
with respect to payments of principal and interest due
thereunder after December 3 lg 79
5. Mortgagee shall not be required to and mortgagee agrees that it will
not, make any prepayments of principal or of interest under the
prior mortgages unless mortgagor shall first consent in writing thereto.
6. Mortgagor covenants and agrees not to exercise any right or privilege
of prepayment of the prior mortgages and further covenants and
agrees not to enter into any agreement with the holder of the prior {
mortgages modifying or amending any of the provisions dealing with ~
payment of principal or interest thereunder without the-prior written
consent of mortgagee thereto.
7. In the event the unpaid principal balances of the prior mortgages are
reduced by the holder of said mortgage applying insurance proceeds
in reduction thereof or by prepayments made by mortgagor with the 4
prior written consent of mortgagee so that mortgagee's obligation
hereunder to pay to the holders of the prior mortgages, the unpaid
principal balance of said mortgage as hereinbefore provided is
similarly reduced, then and in such event, mortgagee agrees that ~
mortgagor`s obligation to pay the total indebtedness to mortgagee _
hereunder, shall be Likewise reduced by an equivalent amount; such
equivalent amount to be deducted from the final payment to be made
by mortgagor to mortgagee hereunder, in the inverse order of their
due date.
8. If the mortgagee shall default in making any required payment of
principal and/or interest under either or both of the prior mortgages,
the mortgagor shall have the right to advance the funds necessary
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