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HomeMy WebLinkAbout0914 . ~ + f ' . r . - i . . i ~ Indebtedness may not then be due and payable. In the event that any portion of condemnation awards or compensation shall be used to reduce the Indebtedness, same shall be applied to the then unpaid installments of principal due under the Note in = the inverse order of their maturity, such that the regular payments under the Note shall not be reduced or altered in any manner. The Mortgagor, upon request by the Mortgagee, shall make, execute and deliver any and all assignments and' other instruments sufficient for the purpose~ of assigning the afQresaid awards and compensation to the Mortgagee free and clear of any liens, charges or encumbrances of any kind or - nature whatsoever. The Mortgagee shall not be limited to the interest paid on the proceeds of any award or compensation, but shall be entitled to the payment of interest by the Mortgagor at the applicable rate provided for herein or in the Note. 26. The Mortgagee shall have the right to appear in - and defend any action or proceeding, in the name of and on behalf of th~ Mortgagor Which the Mortgagee, in its discretion, feels may adversely affect the Premises or this Mortgage and the Mortgagee shall also have the right to institute any action r or proceeding which the Mortgagee, in its discretion,_ feels ; ; should be brought to protect its interest in the Premises or ~ its rights hereunder. Fp f * ~ 27. Upon any default hereunder and the acceleration . _ ~ of the maturity P~ereof, if, at any time prior to foreclosure ~ i sale, the Mortgagor or any other person tenders payment of the F ~ amount necessary to satisfy the Indebtedness, same shall ` constitute an evasion of the payment terms hereof and shall be ~ deemed to be a voluntary prepayment hereunder, in which case such payment must include any prepayment premium required under the prepayment provision, if any, contained herein or in the Note, or, if at that time there is no privilege of prepayment, then the payment will include a premium of Five percent of the then unpaid Indebtedness. This provisiofi shall be of no force or effect if at the time that such tender of payment is made ~ ~ the Mortgagor has the right under this Mortgage .or the Note to ~ prepay the Indebtedness without penalty or premium. ~ 28. The Mortgagor will not claim or demand or be ~ entitled to any credit or credits against the Indebtedness for ~i so much of the taxes assessed against the Premises, or any part ~ thereof, as is equal to the tax rate applied to the amount due " on this Mortgage or any part thereof, and no deductions shall ~ otherwise be made or claimed from the taxable value of the ; Premises, or any part thereof, by reason of this Mortgage or ~ the Indebtedness secured hereby. ~ ~ - s> ~ . ~ . f ~ -14- ~ ~ aa~iK ~#~?O PAGE ~7~4 ~ - - .~y ~~rx _ , ~