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TOGE`I~ WI~41 all other interest of every kind and character
which Mortgagor now has or at any time hereinafter acquires, in and to
the property described above and, in and to all property, tangible and
intangible, which is used in connection with the operation of the
premises including, but not limited to, maintenarx~e and service curr
tracts and licenses and permits issued by gavernn~ental authorities, if
any.
PROVIDED Mortgagor is not in default under this Nbrtgage, or
the Note secured by this Mortgage, or any instrument now or hereafter
evidencing or securing the indebtedness evidenced hereby, Mortgagee
shall release too Mortgagor upon payment of the specified release
price, that section of land containing approximately five acres, bo be
purchased by Lillian Development Qorporatfon for construction of a
K-mart building and parking area. In the event such parcel is to be
released, the actual legal description of the released parcel shall be
determined by a survey to be furnished too Nbrtgagee by Nbrtgagor, at
Mortgagor's sole cost and expense. 'Ihe release price for the R-mart
parcel shall be determined on a basis of seventy-three cents ($.73)
per square foot of footage actually released as set forth in the sur-
vey to be furnished bj~ Nbrtgagee. 4he payment for the release of the
K-mart parcel shall be applied against principal in the inverse order
of maturity.
Mortgagor agrees to enter into crossparking easements
agreements-and agreements for ingress and egress easements for the
K-mart parcel.
TO HAVE AND TO HOLD the same with all the rights, privi
leges, claims, in law as well as in equity, of the said Nbrtgagor unto
the said Nbrtgagee, its successors and/or assigns in fee simple.
AND the Mortgagor covenants with the Mortgagee that said
Mortgagor has the right to encumber said lands; that the same are free
and clear of all encumbrances and that he will warrant and defend the
title to the same against the claims of all persons whensoever.
PROVIDED, ALWAYS, that if said Nbrtgagor shall pay unto the
said Nbrtgagee the said sum of money mentioned in said Promissory Note
and herein, and the interest thereon at the times and in the manner
specified, and all other sums or advances hereby secured, and shall
perform, cag?ly with and abide by the stipulations, agreements, oondi
tions and covenants of said Promissory Note, this Mortgage and any and
all other instruments given to secure this debt, then this Nbrtgage
and the estate hereby .created shall cease and be null and void.
AND the said Mortgagor, its heirs and assigns, hereby oave-
nants and agrees as follows:
1. Zb pay all and singular the principal and interest and
other sums of money payable by virtue of said Promissory Note and this
Nbrtgage, or either, promptly on the days respectively the same sever-
ally becane due.
2. Zb-pay when due all and singular the taxes, assess-
ments, liabilities and encumbrances of every nature on said described
property and to furnish the Mortgagee with satisfactory evidence of
the payment of same. Zhe Mortgagor's failure to pay said taxes,
assessments, liabilities and encumbrances, and/or the Mortgagor's
failure to repay the Nbrtgagee for advances for such payments if made
by the Nbrtgagee, shall give the Nbrtgagee the right and option bD
declare the principal balance due together with all advances made
pursuant to the terms, provisions and conditions of this Nbrtgage and
the Note which it secures and further option m foreclose same.
3. Zb pay all and singular the costs, charges and expen-
ses, including lawyers' fees, reasonably incurred or paid at any time
-2- aooK344 PaGE1~33
LEWIS. VEGOSEN AND ROSENBACH. P.A., ATTORNEYS AT LAW
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