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cation of the first mortgage without the prior written consent of Ewings, their
successors and assigns.
c. Ewings wi11 do all things necessary and proper to advise first
mortgagee that payments of principal and interest and other items required by the first
mortgage will be furnished by Fox, their successors and assigns, and that copies of
all notices and correspondence concerning the first mortgage will be directed to Fox.
d. Ewing will render such performance as Wraparound mortgagee as may
be required of Ewing by the terms of the first mortgage.
e. If an event of default occurs hereunder or under the first mortgage,
Fox may, at their option, make any payment or perform any act required under the first
mortgage, in any form and manner deemed expedient by Fox and may make full or partial
payments of principal or interest on the first mortgage, and purchase, discharge,
compromise or settle the first mortgage. In the event Fox makes any such payments
to first mortgagee, Ewing will be subrogated to the rights of first mortgagee against
the property which is subject to the first mortgage.
f. If for any reason other than Ewings' failure to make payments of
installments of principal or interest on the first mortgage, the indebtedness secured
by the first mortgage is accelerated or the mortgaged property or any part thereof
is sold, or attempted to be sold, pursuant to such first mortgage, or any remedial
action or proceeding is taken or instituted in respect of the mortgaged property or any
part thereof urider the first mortgage, Fox will indemnify Ewing against any loss, cost
or expense incurred by Ewing including reasonable attorney's fees, (1) in contesting
any such action taken or instituted or in attempting to reinstate such first mortgage,
or (2) incurred by Ewing on account of the acceleration of the first mortgage, the sale
of the mortgage property pursuant thereto or Ewings' purchase or payment of the first
mortgage. Further, if default shall occur in the first mortgage, Fox may take any
action with first mortgagee to protect Foxs' interests in and to the subject premises.
g. In consideration of the execution and delivery of the note secured
by this mortgage, Ewing agrees to pay the installments of principal and interest as
the same become due under the first mortgage, but only from and to the extent of the
payments of principal and interest received by Ewing on the note hereby secured. The
f~regoing obligation shall in no event include in respect to the first mortgage any
penalty or premium, or any amounts required to be paid in addition to principal or
interest or any installments of principal or interest which become due by acceleration,
except any such penalty, premium or amounts required to be paid as a direct result of
Ewings' failure to perform its obligations hereunder.
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