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Home My WebLink About0907 i 1 I 4' j, f 3 1 t~ i ~ , !:the mortgages that those. payments may be made without constituting !a default, and the Mortgagees agree to remit promptly those sums ~ l; so paid to the Mortgagees by the Mortgagor to the holders of the ;`senior mortgages in payment of the sums due under the mortgages. ! (h) If the unpaid principal balances of the senior mort- ;';gages are reduced by the holders of the mortgages applying insur- 'ance proceeds in their "reduction or by prepayments made by the :.Mortgagor with the prior written. consent of the Mortgagees so that; ;'the Mortgagees' obligations to pay to the holders of the senior ;+mortgages the unpaid principal balances of the mortgages as above ;'provided are similarly reduced, then the Mortgagees agree that the Mortgagees agree that the Mortgagor's obligation to pay the total ''indebtedness to the Mortgagees shall be reduced likewise by an equivalent amount; the equivalent amount is to be deducted from ~~the final payments to be made by the Mortgagor to the Mortgagees, in the inverse order of the due dates.• (i) If the Mortgagees shall default in making any required payments of principal or interest under the senior mortgages, the Mortgagor shall have the right to advance the funds necessary to -:cure that default and all funds so advanced by the Mortgagor, to- gether with interest at the rate of 10 per cent per annum, shall _ be credited against the next installments of principal due under. the note secured by this mortgage. The Mortgagor and the Mortgagees covenant and agree ' not to enter into any agreement with the holders of the senior mortgages modifying or amending any of the provisions dealing with', ';payments of principal or interest under the senior mortgages without the prior written consent of the other. F - ~ I I f i t 1980 SEP 10 P~1 3: 33 ~ fIlE4 4NC F.+'CUaUEO s RO~CsER PO RAS~~ CLERK CIRCUIT COIKt~ s - 7 i $O~ eh~(7 PlIG~ ~ ~ i ~ Smith. O'Haire. Thatcher b Quinn, Attorneys At Law, P. O. Box 1030, Vero Beach, Florida 32960 7. (306j 567~l351 ~ . ~