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3. So long as Mortgagor is not in default under the terms
and provisions of the promissory note given by Mortgagor to Mortgagee
and this Mortgage (including compliance with terms, provisions and
obligations of the aforesaid First Mortgage, other than payment of
principal and interest~ Mortgagee for himself and his respective
ha; r~; ~„~~e~~~rs, g°rsc.^.sZ r~pr~a~r.~a~i~G~ a;~u d55i.y~~5 ayr~es as
follows:
A. Mortgagee shall duly and timely comply with each and
every obligation of that certain promissory note secured by the
aforesaid First Mortgage and will not commit or suffer to be
committed any default under said obligation. Mortgagee hereby
indemnifies and hold harmless Martgagor with respect to the p3yment
of principal and interest under the aforesaid obligation secured
by the First Mortgage.
B. In the event of a default under the aforesaid
promissory note secured by the First Martgage, the Mortgagor shall
have the right, but not the obligation, to cure such default and
deduct any sums paid to cure same from the indebtedness evidenced
by the promissory note secured by this mortgage.
C. Subject to the provisions of subsequent paragraph
4 of this Addendum to Mortgage, Mortgagee agrees that on the
payment of the unpaid principal balance under this Mortgage and
the Promissory Note secured hereby, he shall cause the entire
unpaid balance owing under the First Mortgage, inciuding accrued
interest to be paid and said First Mortgage to be released as to
the property mortgaged hereunder.
4. Mortgagors stipulate, acknowledge and understand that
the obligation secured by the said First Mortgage, provides that
it can only be prepaid, whether in whole or in part, after December
31, 1981, and as a result thereof, any obligation of the Mortgagee
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