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HomeMy WebLinkAbout0922 i . ~ 1 4. No sale of the property hereby mortgaged and no ~ forbearance on the part of the Mortgagee, and no extension of the time for the payment of the debt hereby secured given by the Mortgagee shall operate to release, discharge, modf£y, change or affect the o~iginal liability of the Mortgagor herein either in whole or in part, and shall not be a~aiver of Mortgagee's right to accelerate the aggregate sum secured by this Mortgage. 5. The lien of this deed secures and shall continue to secure payment of said indebtedness or indebtednesses, however evidenced, whether by said promissory note or notes or any renewal or extension thereof or substitute therefor, or other- wise, until all such indebtedness shall have been fully paid. 6. The Mortgagee shall have the right to enforce the lien of this mortgage against all of the mortgaged property and to cause all of said mortgaged property to be sold for payment and satisfaction of any .decree of foreclosure without any right of Nortgagor or those claiming under Mortgagor to any marshalling of liens, exonerations of security or other similar rights or remedies. ~ 7. In the event damages are awarded for the taking of , or injury to, the mortgaged property under the power of eminent domain or otherwise, all such damac~es shall be paid to and received by the-Mortgagee to be applied as a payment upon such part of the indebtedness hereby secured, as the Mortgagee may elect, without affecting the amount of, or time for payment of, any other installments require~d hereunder, whether or not such indebtedness to which such damages may be applied is then due and payable. 8. That if any action, or proceeding, shall be oonunenced by any person other than the holder of th is mortgage ( except an action to foreclose this mortgage, or to collect the debt secured thereby) to which action, or proceeding, the holder of this mortgage is made a party, or in which it shall become necessary to defend, or uphold, the lien of this mortgage, all sums paid by the holder of this mortgage for the expense of any litigation to prosecute, or defend the rights and liens created ~ by this mortgage (including reasonable attorneys' fees), shall ; be paid by the Mortgagor on demand, together with interest i thereon, at the rate of 12 1/2 per centum per annum, and any ~ such sum, and the intPrest thereof, shall be secured by this mortgage. ~ 9. All remedies provided in this Mortgage are distinct and I cumulative to any other right or remedy under this Mortgage or afforded by law or equity, and may be exercised concurrently, independently or successively. ~ 10. This is a purchase money first mortgage upon the described property. _ Th~ terms "Mortgagor" and 'Mortgagee" whenever used in this instrument shall include the heirs, personal representatives, E successors and permitted assigns of the respective parties ~ hereto. Wherever used the singular number shall include the ; plural and the plural the singular, and the use of any gender ` shall include all genders. - I i ~ ` ~ ~ ~ ~ ~ l I Boi1KJ~1 PACE y2~ I ±