HomeMy WebLinkAbout1061D, Mortgagee agrees that on payment of the unpaid principal
balance raider this Note and Mortgage, it shall cause the entire unpaid
balance owing under First !Mortgage, including accrued interest, and
other costs, to be paid and said First *'~ortgage to be released as to
the property mortgaged hereunder. Upon tendering payment of this obligation,
Mortgagor shall have the right to request Chat same be paid in escrow
to Abrtgagee's attorney or such other escrow agent as the parties may
agree upon and said escrow holder shall obtain a written estoppel letter
from the holder of the First Mortgage and pay from the escrow so much
of the escrow funds as are necessary to so release said First Mortgage
and pay the balance of said escrow funds to Mortgagee hereunder, to satisfy
this obligation in full.
S. Each party covenants and agrees that neither will enter into
or make any agreement with the holder of the First Mortgage modifying
or amending any of the terns , covenants and ~+rovisions thereof , without
the prior written consent of the other party hereto.
6. Each party agrees that it shall praonptly furnish to the other
party, copies of all notices of default or non-compliance, which the
other may receive fr® the holder of the First *brtgage.
7. It is hereby agreed that the ?Mortgagor has not, and will not,
become liable for and does not and will not, directly, indirectly,
expressly or impliedly, primarily or secotxiarily, or otherwise, become
liable for or assume, any indebtedness for or under the said First
rbrtgage or the Promissory Note secured thereby.
IN WTII~S.S WHEREOF the parties have hereunto set their hands and
seals on the day and year first above written.
NDR'hGAC~OR
WI
~' /1 ~' ,
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STATE OF FIARIOA
OOIA~TI'Y OF ST. LLB
I HEREBY CERTIFY that on this day, before me, an officer duly
authorized in the State and County aforesaid to take aclmowledg~nents,
personally appeared JACK L. WEBB to me k<uown to be the person described
in and who executed the foregoing instnanent and he acimowledged before
me that he executed the same.
Bfi~OX3~~ PAf:E~~~
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