HomeMy WebLinkAbout1679 notice of and fully to protect the lien thereof upon, and
the interest of the Mortgagee in, the Mortgaged Property.
(b) Fees, Taxes, etc. Developer will pay all
filing, documentary stamp and intangible taxes, registration
or recording fees, and all expenses incident to the execu-
tion and acknowledgment of this Restated Mortgage and any.
instrument of further assurance, and all federal, state,
county and municipal stamp taxes and other taxes, duties,
imposts, assessments and charges arising out of or in
connection with the execution and delivery of this Restated
Mortgage or any instrument of further assurance.
3.04. Payment of Second Replacement Note; No
Credit for Taxes. (a) Mortgagors and. Developer will
punctually pay the principal and interest and all other sums
to become due in respect of the Second Replacement Note at
the time and place and in the manner specified therein and
in this Restated Mortgage, according to the true intent and
meaning thereof, all in such coin or currency of the United
States of America which at the time of such payment shall be
legal tender for the payment of public and private debts,
and will not claim nor shall any deduction be made from the
interest or any pr incipal of the Second Replacement Note or '
from other- indebtedness secured by the Mortgage by reason
of the payment of taxes assessed against the Mortgaged
' Property.
(b.) Mandatory Prepayment. Developer shall prepay
the Second Replacement Note in the amounts, at the times and
under the circumstances required by Sections 5.02 and 5.04
hereof .
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(c) Optional Prepayment.. Mortgagors or Developer
may, at their option, upon notice as provided in Section
3.04(4), prepay at any time all or from time to time any
part of the Second Replacement Note, at the principal amount
so .prepaid, together with interest on such principal amount
accrued to the date fixed-for such prepayment, without
penalty or premium. All such optional prepayments shall be
applied to release payments specifically Section 5.04
hereof.
(d) Notice of Optional Prepayment. Written
notice of each optional prepayment shall be given to the
holder of the Second Replacement Note not less than 10 nor -
more than 60 days prior to the date fixed for such prepay-
ment, specifying (a) the date'of such prepayment, (b) the
aggregate principal amount of the Second Replacement Note to
be prepaid on such date and ( c) ~ the aggregate amount of
g accrued interest, if any, payable on such prepayment. i
(e) Notation of Payment. Upon any partial
~ prepayment of the Second Replacement Note, the holder
thereof shall make a notation thereon as to the date .and
amount of such partial prepayment.
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~ ~ 3.05. Compliance with Law. Developer shall
comply with all Legal and Insurance Requirements applicable
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' 600K J~~ PAGE 161 p
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