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thereunder, then and in sucn event~ Mortgagor's obligation
to pay the total indebtedness to Mortgagee under the Promissory
Note secured under this Mortgage. shall likewise be reduced
in an equivalent amount; such equivalent amount to be deducted
from the final payment or payments to be made by MortgaRor
to Mortgagee hereunder in the inverse order of their due
date.
6. In the event Mortgagee shall default in making
any required payment of principal and/or interest under the
First Mortgage, Mortgagor shall have the right to advance
the funds necessary to cure such default and all funds so
advanced by Mortgagor, together with interest thereon at
the rate of 10% per annum shall be credited aRainst the
next installment or installments of interest and principal
due under the Promissory Note secured by this Mortgage.
7. The parties shall furnish promptly to each other,
copies of any notices of default which the holder of the
First Mortgage shall give to either party.
8. Mortgagor has the right to prepay in whole or in
part the unpaid principal balance of the indebtedness evidenced
by the Promissory Note secured hereby, without penalty. Any
partial prepayment shall be applied against the principal
installments of the said Note secured hereby in inverse order
of maturity. In the event of prepayment of the whole of
said Note and/or application to the indebtedness of said
Note, the amount to be paid by Mortgagor shall be determined
by deducting from the original principal indebtedness of said
Note, the aggregate of all payments credited on account of
principal because of payments made by Mortgagor in amortization
of the original principal indebtedness of said Note to the
date of such prepayment; and the ag~regate amount, if any,
by which the indebtedness evidenced by said Note has been
reduced by Mortgago~-'s application of insurance proceeds and/or
condemnation award ~roceeds in reduction of said principal
indebtedness; and that amount computed by deducting from the
aforesaid present outstanding principal indebtedness of
the First Mortgage, the aggregate sum of a1Z payments credited
~ - 3 - BnnK 345 PAGE ~45
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