HomeMy WebLinkAbout0784 • ..r
•
MORTGAGE RIDER REGARDING W. W. ADAMS/SANDOLLAR
VILLAS DEVELOPMENT MORTGAGE DATED APRIL !g , 1980
NOTWITHSTANDING anything to the contrary contained in the
attached mortgage and note, the Mortgagor further covenants and
agrees with the as follows:
1. To pay when due, and without requiring any notice
from the Mortgagee, all taxes, assessments of any type or nature,
and any other charges levied or assessed against the real property
hereby encumbered and produce receipts therefor upon demand.
2. To timely and immediately pay and discharge any
claim, lien, or encumbrance against such real property which may
be or become superior to this mortgage and to permit no default
or delinquency on any other lien, encumbrance or charge against
such real property.
3. To remove within seven (7) business days from the date
of the filing of any statutory or similar mechanic's or any other
lien against the real property.
4. Not to encumber further all or any part of the real
property without the written consent of the Mortgagees.
5. If the Mortgagor fails to pay any claim, lien, or
encumbrance which is superior to this mortgage, or, when due,
any taxes or assessments or insurance premiums, or to keep-the
I real property in repair, or shall commit or permit waste, or
if there be commenced any action or proceedings affecting the
real property or the title thereto, or the interest of the Mortgagee
therein, including, but not limited to, eminent domain,
bankruptcy or reorganization proceedings, the Mortgagee, at his
option, may pay said claim, lien, encumbrance, taxes, assess-
ments or insurance premiums, may make such repairs and take such
steps as~~he deems advisable to nrevent~or cure such waste, and
may appear in any such actions or proceedings and may retain
counsel therein, and take such action therein as Mortgagee
deems advisable, and for any of said purposes, Mortgagee may
~ advance such sums of money, including all costs, reasonable
attorneys fees and other items of expense as he deems necessary.
Mortgagee shall be the sole judge of the legality, validity and
priority of any such claim, lien, encumbrance, tax, assessment •
~3D ~E 781- c
r,~~ .