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ADDENDUM
payable without notice and with interest at the rate of T~18LVB per cent
12 X) per anrwoa. Inaction of mortgagee shall never oe
~uaece~a'
As a
waver of any ri,g~Yt accruing to him an acca~nmt of any default as the part of
mortgagor. .
the mortgagor and mortgagee agree ;that, ~ if the holder of the aforesaid
FIRST declares the entire bal~ce of the FIRST M due and
payable with interest because of an assumption, the mortgagee shall pay the
FIRST Mme, and all such amolnts a~dvm~rced by the mortgt~gee shall be
additiACmtl indebte~ess severed hereby with interest at a rate of TWBLVB
Percent ( 12 x) per acznm. .
kbrtgagor w,i.ll not exe7ccise any right or privilege of prepayment of principal
or intgrest under the k'IRST I~DRT(~E, and mo will not alter into any
agxe®ent with first martga~ee modii'ying ar am~i~~ug mYy provisions of the
F.[RST N1D~ without the prior written consent of wraparound mortgagee.
Notwithstanding any other provisions in this. mortgage, if, pursuant to the
FIRST I'~p insurance proceeds in respect of any damage or destruciton or
- any award of payment applicable to~a taking by ezdnent-daan3in are applied against
the note secured by the FIRST M)RTC,~, wraparourxl mortgagee may declare the note
hereby secured due and payable at any time thereafter unless the mortgaged property
regaining after any such taking or danage or destxtycti~on is sufficient in wrap- .
ara>rud mortgagee' s sole ~udg~natt to adequately secure -the payment of the torte
hereby secured.
The references cantain,ed in this mortgage to the obligatia~s of mortgag~o~r or
wraFaround mortgagee to pay any sum vwit~g on the FIRST shall not con-
stitute an assumption of personal liability for any such payment and shall not
in any way modify the obligatidts of mortgagor iaxler any existing agreement with
first mortgagee.
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