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right, title, interest, homestead, dower and right of dower,
separate estate, possession, claim and demand whatsoever, as ~
well in law as in equity, of Mortgagor and unto the same,
and every part thereof, with the appurtenances of Mortgagor
in and to the same, and every part and parcel thereof unto
Mortgagee.
Mortgagor warrants that it has a good and marketable
title to an indefeasible fee estate in the Mortgaged Property
subject to no lien, charge or encumbrance except such as
Mortgagee has agreed to accept in writing and Mortgagor
covenants that this Mortgage is and will remain a valid and
enforceable second mortgage on the Mortgaged Property subject
only to the exceptions herein grovided. Mortgagor has full
power. and lawful authority to mortgage the Mortgaged Property
in the manner and form herein-done or intended hereafter to
be done. Mortgagor will preserve. such title and will forever
warrant and defend the same to Mortgagee and will forever
warrant and defend the validity of the lien hereof against
the claims of all persons and parties whomsoever.
Mortgagor will at the cost of Mortgagor, and without
expense to Mortgagee, do, execute, acknowledge and deliver
all and every such further acts, deeds, conveyances, mortgages,
assignments, notices of assignments, transfers and assurances
as Mortgagee shall from time to time require in order to
preserve the priority of the lien of this Mortgage or to
facilitate the performance of the terms hereof.
PROVIDED,HOWEVER, that if Mortgagor shall pay to Mortgagee
the indebtedness in the principal sum of FIVE HUNDRED TWENTY
THOUSAND SEVEN HUNDRED FIFTY AND NO/100's ($520,750.00) DOLLARS,
as evidenced by that certain promissory note (the Note), of
even date hereiwth, executed by Mortgagor and payable to
order of Mortgagee, with interest and upon the terms as
provided therein, and together with all other sums advanced
by Mortgagee to or on behalf of Mortgagor pursuant to the
Note or this Mortgage, the final maturity date of the Note
and this Mortgage being the 14th day. of gebxu~r 1990 or 1995-
and shall perform all other covenants and conditions of the -
Note, all of the terms of which Note are incorporated herein
by reference as though set forth fully herein, and of any.
renewal, extension or modification, thereof and of this
Mortgage, then this Mortgage and the estate hereby created
shall cease and terminate. -
E
~ Mortgagor further covenants and agrees with Mortgagee
as follows:
1. To pay all sums, including interest secured hereby
when due, as provided for in the Note and any renewal,
extension or modification thereof and in this Mortgage, all
such sums to be payable in lawful money of the United States
of America at Mortgagee's aforesaid principal office, or at,
such other place as Mortgagee may designate in writing. -
~ 2. To pay when due, and without requiring any notice
-from Mortgagee, all taxes, assessments of any type or nature-
~ and other charges levied or assessed against the Mortgaged
~ Property, or this Mortgage, and produce receipts therefor
upon demand. To immediately pay and discharge any claim,
lien or encumbrance against the Mortgaged Property which may
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