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in excess of 15$ of tha assessment in force and effect as of the date
hereof, then in any of such events the Mortgagee may, at its option,
declare the entire indebtedness hereby secured due and payable upon
six months' notice.- If such option is exercised and notice given, then _
upon the expiration of such six months' notice, the entire indebtedness
hereby secured shall be due and payable and nonpayment thereof shah.
constitute a default under this mortgage, and-the same maybe collected
by foreclosure or in any other :Wanner provided by law: However, if
the Mortgagor pays the said additional assessment in cash within said
six months' period, then the-right of the Mortgagee to accelerate
the debt secured her-eby, for said specific nonpayment, shall terminate
as to such default, without in-any manner affecting the rights of the
Mortgagee under any other existing or subsequent default under this
mortgage or she notes-secured hereby.
11. In the event the Mortgagor sells or conveys said premises,
or any. portion thereof, cvr, if the Mortgagor is •a corporation, -sells,.
trades or disposes of more than 49$ of its corporate stock to persons
other than the present owners, their heirs and qualified-directors prior
to the time the indebtedness secured hereby shall .have been reduced
to $0.00, then at_the option of the mortgagee, the entire said.
indebtedness shall become due and-payable. .
- 1Z.. When anc3 if Mortgagor and Mortgagee shall respectively
become the Debtor and Secured-Party in any Uniforne Commercial Code
-Financing Statement affE;fing property either referred to or described
herein, or in any way coiuzected with the rise and enjoyment_ of these
premises, this mortgage shall be deemed the Security Agreement as
defined in said Uniform Commercial Code and the remedies for any
violation of the covenants, terms and conditions of the agreements .
herein contained shall be (i) as prescribed herein, or (ii) by general
law, or (iii) as to such part of the security which is: also reflected
in said Financing Statement by the specific statutory consequences
-now or hereafter enacted and specified in the Uniform Commercial Code,
all at Mortgagee's sole;election.
It is agreed that granting any extension of time of payment
of any sum coming due under the notes aforesaid or under this mortgage,
to any person, or the taking of other-or additional security for the
payment :thereof, the waiver of, or failure to exerc?.se, any right to
j mature the whole debt or any other waiver by Mortgagee shall not in any .
wise affect this mo~ctgage or the rights of Mortgagee hereunder, •~t operate
as a release -of any liability or any .covenant or stipulation herein
contained. The several rights and remedies in this mortgage contained,
provided, declared or authorized, shall be construed and deemed as
cumulative and no one or more of them as exclusive of the other or
any of the others or of any rights or remedies which now or hereafter
may be given or allowed by law. .
Mortgagor unconditionally grants to Mortgagee the rightto
enter upon and inspect the Mortgaged Premises at alp reasonable
times. -
The words "Mortgagor" and "Mortgagee" when used herein shale
~ be taken to include the singular and plural number and masculine,
feminine or neuter gender, as may fit the case, and shall include
~ the grantees, heirs, administrators: executors, successors-and
assigns of the parties hereto. Each a:2d all of the terms-and
~ provisions hereof shall extend to and be a part of any renewal
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