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will suffice), should the Mortgagor so request of the Mortgagee
in writing.
'I. Notwithstanding any provision to the contrary contained _
herein, interest shall not be payable by the Mortgagee upon any
sums deposited with/or held in trust by the Mortgagee pursuant
to any provision hereof.
J. 1?lortgagor shall have the right to prepay the whole or
any part of the unpaid balance of the indebtedness hereunder at
any time without penalty. However, it is agreed between the
Mortgagor and Mortgagee that any prepayments shall be first
applied to the payment of the First Note and the First Mortgage,
then applied to the payment of the Second Note and the Second
Mortgage. Any prepayment shall be applied to the interest accrued
to the date of prepayment and then to the principal indebtedness.
Any prepayment being applied to the principal shall be directly
paid for principal reduction of the First Mortgage and First
Note, and then the Second Mortgage and Second Note, and any amounts
over and above the entire principal indebtednesses of the First
Note and the Second Note shall be paid over to the Mortgagee
hereunder.
K. Mortgagor hereby agrees that if any major modifications
are to be made to the subject-property, then said modifications
shall require express written permission from the Mortgagee, and
if said modifications are made without the express written permission
from the Mortgagee then said Mortgagor shall be considered. in
immediate default under this Mortgage and Mortgagee may seek
immediate foreclosure without notice to said Mortgagor.
L. Mortgagor shall be responsible for obtaining insurance
on the property for the highest insurable value and said Mortgagor
agrees to provide the insurance company with the names and the
interests of .this Mortgagee as well as the holders of the First
Mortgage and the Second Mortgage. _
NTERED INTO and agreed to by the undersigned this 13th
day September, 1979.
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MORTGAGOR: MORTGAGEE:
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TIMOTHY F QUIR N F. PARSON
l9T9 SAP 18 All 9' 34
1980 J18. 22 PM 2~ 01 ; e.~o arlo Rfcu~:ocu _
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PWTRASA
~,UOC~~QpIE~;~C~O I;LERK CIRCUIT CQUR
~~COUNT_ FAA 11lC01t0 YERIF'E[~.-Lj~
CLERK CIRC
gECGRD VERIFIED -
45931'7
- Yw.
-493623
Btim~(c)c)5 PAGE n~qq~ 8J~~316 PAGE~rVW
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