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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,~~ .