HomeMy WebLinkAbout0988 • . ,
i
r
i
i
~
~
which the change in the base commercial lending rate becomes ~
effective; nrovided, however, that any principal payment which is
not paid when due (whether at stated maturity, by acceleration ~
or otherwise) shall bear interest at the maximum rate permitted
by law.
This mortgage and the note above referred to in Official Record
Book 379, page 286, are merged and shall constitute a single
mortgage lien encumbering the herein described property, said
lien securing said combined obligation in the total principal
sum of $400,000.00.
TO IiAVE AND TO HOLD the same, together with all and singular
the tenements, hereditaments and appurtenances thereunto belonging, ~
or in anywise appertaining, and the reversion and reversions,
remainder and remainders, rents, issues and profits thereof, and
also all the estate, right, title, interest, property, possession,
claim and demand whatsoever, as well in law as in equity, of the
said Mortgagor in and to the same, and every part and parcel
thereof, unto the said Mortgagee in fee simple.
AND the said Mortgagor does hereby fully warrant the title to
said land and every part thereof and will defend the same against
the lawful claims of all persons whomsoever.
PROVIDED ALWAYS, That if said Mortgagor shall pay unto the
said Mortgagee certain promissory note of which the following
substantial copy, to wit: ~
~
~
,
See Promiasory Note attached hereto i
and made a part hereof as Exhibit "A".
Documentary tax stamps were previously i
purchased and affixed to the aforesaid ~
note in the sum of $150.00
~
I
_
~
E
4
A
d
Fr
S
~
[
~
k
t
~ and such further sum or sums of ntoney, if any, as ttie Mortgagee
; may hereafter ~during the continuance of these presents advance,
E with interest on such further su;n or sums from the time they .
may be advanced at the rate provided for in the said promissory
note or notes evidencing such advance or advances, and shall
perform, comply with and abide by each and every the stipulations,
agreements, conditions and covenants of said promissory note and
of this deed, then this deed and the estate hereby created shall
ceas~ and be null and void.
~ 4~ PACE ~
~~~R
~ - ~
- - - - - - _ _ ~ ~~a:.~ ~ ~ ~;x ~ ~ ~ ~
- - - - - „