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prepayment shall be applied to the in~erest accrued to the ~
date of prepayment and then to the principal indebtedness.
Any prepayment being applied ta the principal shall be direct- j
ly paid for principal reduction of the First Mortgaqe and
First Note and any amounts over and above the entire princi- ~
gal indebtedness of the First Note~and First Mortgage shall
be paid over to the Mortgagees herein. ~
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K. Mortgagor shall have the responsibility of paying ~
the escrow amount which is due under the First Mortgage, if
any, by paying said escrow amount on or before the date due !
to Mortgagees and if such increase or decrease in the escrow ~
amount occurs then the Mortgagees shall be responsible for
immediately notifyinq the Mortgaqor and said increase or de-
crease shall apply directly to the Mortgaqor.
L. Mortgagor shall be responsible for obtaining insurance
on the property for the highest insu'rable value and said Mort-
gagor agrees to provide the insurance company with the names
and the interests of these Mortgagees as well as the holders
of the First Mortgage. Mortgagor shall provide written evidence
from Mortgagor's insurance company that Mortgagees are a loss
payee on such policies of insurance within ten days of the
date hereof and at any time subsequent thereto at the request
of the Mortgagees.
ENTERED INTO and agreed to by the undersigned on the day
and year first above written.
MORTGAGOR: MORTGAGEES: ;
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MOTHY . HEAF R D_IEL W. DICKSON
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' CAROL AEAFNER ~
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~ NANC J. C ON
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