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to payments of principal and interest due after the date hereof.
3. If the unpaid principal balance of the first nrartgage is reduced
by Bank applying insurance proceeds in its (ar their) reduction ar by pre-
payments made by the mortgagor with the prior written consent of the mortgagee
so-that the nr~rtgagee's obligation to pay the bank is sitailarly reduced, then
the mortgagee agrees that the mortgagor's obligation to pay the fatal indebted-
ness to the nrartgagee shall be reduced likewise -by an equivalent mtiotmtt the
equivalent am~uit is to be deducted Eton the final payments to be made by the
mostgagoac in the irnrerse order of their due dates.
rCgagee Waking Y required Paymen
4. If the iro shall default in an is
of principal or interest tn~der the first mortgage. the mortgagor shall have
the right to adv-anee the fuixls necessary to cure that default and all funds. so
advanced by the mortgagar, together with interest at the rate of 10$ per annum,
shall be credited against the next installment ar instal]ments of interest and
principal due under the note secured by this mortgage.
5. Z?~e mortgagor shall have the right to prepay the whole ar any part s
of the wzpaid balance.of the s tinder this mart~gage at any time without
penalty. If the mortgagor Prepays the whole of the unpaid balance, the mortgagee .
shall resit to bank, out of the prepayment fiord, the aQr~ount necessary to satisfy
the first mortgage, subject to the option provided foot under 2 (a) above. Provided s
however the mortgagar shall Pay any ~ ~ PrePaY~ penalties ar charges re-
giiired by the first mortgage for prepayment of it. Any partial prepayment shall
be applied against the sums last payable under this mortgage, and i.f the amotmt
Prepaid e~ooeeds the amcwnt determ3r~ed by subtracting the then unpaid principal -
'~i balance from the first mortgage Eton the then unpaid principal of this mortgage.
then the e~ooess amamt shall be remitted to bank. Provided, however, the mort-
gagor shall pay any and all prepayment penalties or charges required for pre-
paycnP.nt _of the above mortgage.
~Y Prepayments hereinxler shall not interrupt or stay the monthly
payments •
6. Zl~e mortgagor and the mortgagee covenant and agree not to enter
into any agreement with bank to modify ar amend any of the provisions dealing
with payment of principal or interest under the first mortgage without the priar
written consent of the other.
7. Nbrtgagor agrees to continue using the property exclusively as a
residence until this mortgage has been paid in full. At no time shall mortgagor
remove or destroy any portion of the .premises or equipment from the premises ~ -
without the consent of the mortgagee. Mortgagee reserves the right to enter upon
the premises and to inspect the property at all reasonable times and hours to see
that this provision is being anQlied with. If buyer does not ocnply with this
provision, it shall be decd a default of this mortgage.
8. Mortgagor may not sell the property covered hereby without both the
wri~~tt//en consent the mortgagee and the assumption of said mortgage by Buyer.
L.S.
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