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HomeMy WebLinkAbout0915 . ~ i ~ _ ; ~ , • j . . ~ ~ ~ ~ _ ~ 29. This Mortgage cannot be modified or discharged orally and no executor~ agreement shall be~ effective to modify. or discharge it in whole or in part, unless it is in Writing and signet3 by the party against whom enforcement of the - modification or discharge is sought. Failure by the Mortgagee to exercise any right, remedy or option under this Mortgage or any other agreement between the Mortgagor and the Mortgagee, or delay by the Mortgagee in exercising the same, will not operate as a waiver of any such right, remedy or option or any right, remedy or option on any future occasion; no waiver by the Mortgagee will be effective unless it is in -writing and then ~ only to the extent specifically stated, and, without limiting the generality of the foregoing, any payment by the Mortgagee for insurance premiums, taxes, assessments, water rates, sewer rentals or other charges af~ecting.the Premises, or payments made by the Mortgagee relating to obligations of the Mortgagor in connection with a lien superior to the lien of this Mortgage, shall not constitute a waiver of the Mortgagor's default in making_ said payments and shall not obligate the Mortgagee to make any such payments thQreafter. 30. The provisions and covenants of this Mortgage ~ shall run with the land, shall -be binding upon the Mortgagor ~ and shall inure to the benefit of the Mortgagee, subsequent 4 holders of this Mortgage and their respective successors and ! assigns. For the purpose of this Mortgage, the term ~ "Mortgagor" shall mean the - Mortgagor named herein, ~ny subsequent owner of the Premises, and their respective heirs, executors, legal representatives, successors and assigns. If there is more than one Mortgagor, all their undertakings hereunder shall be deemed joint and several. 31. The validity and enforceability of this Mortgage and all transactions and questions arising hereunder, shall be construed and interpreted accordin~ to the laws of the State wherein the Premises are located. Whenevex possible, each ~ provision of this Mortgage shall be interpreted in such manner f ~ as to be effective and valid under applicable law, but if any ~ = provision of this Mortgage shall be prohibited by or invalid under applicable law, such provision shall be ineffective to the extent of such prohibftion or invalidity, without invalidating the remainfng provfsions of this Mortgage. 'y Nothing in this Mortgage, the Note or in any other agreement ~ b~tween the Mortgagor and the Mortgagee shall require the Mortgagor to pay, or the Mortgagee to accept, interest in an ~ £ l. ~ ~ ~ -15- ~ ~ ~ ~ ~ ~ ~ aa~~428 P~E 915 - ~ ~ ~ _ ,~~r~'"~~ ~ ~a~ ~ ~ •fi ~`F - a4` p` ,Y] d F ~%'~1~'~'~s~vtp -~ta..