HomeMy WebLinkAbout2785 separate deed of assignment notwithstanding the fact that the
same may be satisfied and cancelled of record, it being the '
intention of the parties hereto that the same will be satisfied
and cancelled of record by the holders thereof at or about the
time of the recording of this mortgage.
15. If any of the sums of money herein referred to be
not promptly and fully paid within fifteen (15) ~ays neat after
the same severally come due and payable, or if each and every
the stipulations, agreements, conditions and covenants of said
promissory note and this mortgage, or either, are not duly
performed, complied with and abided by, the aggregate sum
mentioned in said promissory note then remaining unpaid, with ~
interest accrued to that time, and all moneys secured hereby, ;
shall become due and payable forthwith, or thereafter, at the
option of said Mortgaqee, as fully and completely as if all of
the said sums of money were originally stipulated to be paid on
such day, anything in said note or in this mortgage to the
contrary notwithstanding; and thereupon or thereafter, at the
option of said Mortgagee, without notice oz demand, suit at law
or in equity may be prosecuted as if all moneys secured hereby
had matured prior to its institution.
16. Mortgagor will exhibit to Mortqagee written receipts
establishing payment of any sums required to be paid under any
superior mortgage or other lien obligation, no later than five
(5) days prior to the time that acceleration of such superior
mortgage or lien could be declared for non-payment thereof.
17. The abstract of title covering the encumbered
property shall belong to and remain in the possession of the
Mortgagee during the lien of this Mortgage.
18. That in the event the premises hereby mortgaged, or
any part thereof, shall be condemned and taken for public use
under the power of eminent domain, the Mortgagee shall have the
right to demand that all damages awarded for the taking of or ~
damages to said premises shall be paid to the Mortgagee, its ,
successors or assigns, up to the amount then unpaid on this ~
mortgage and may be applied upon the payment or payments last
payable thereon. j
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19. It is specifically agreed that time is of the i
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essence of this mortgage and that no waiver of any obligation ,
; hereunder or of the obligation secured hereby shall at any time ;
thereafter be held to be a waiver of the terms hereof or of the
~ instrument secured hereby.
~ 20. It is understood and agreed that the Mortgagee may
~ at any time, without notice to any person, grant to the
~ Mortgagor any modification of any kind or nature whatsoever, or
~ allow any change or changes, substitution or substitutions of
~ any of the property described in this mortgage or any other
E collateral which may be held by the Mortgagee without in any
~ manner affecting the liability of the Mortgagor, any endorsers
; of the indebtedness hereby secured or any other person for the
~ payment of said indebtedness, together with interest and any
G other sums which may be due and payable to the Mortgagee, and
~ also without in any manner affecting or impairing the lien of
~ this mortgage upon the remainder of the property and other
collateral which is not changed or substituted; and it is also
~ understood and agreed that the Mortgagee may at any time,
without notice to any person, release any portion of the
property described in this mortgage or any other collateral,
or any portion of any other collateral which may be held as
~ security for the payment of the indebtedness hereby secured,
either with or without any consideration for such release or
~ releases, without in any manner affecting the liability of the
a Mortgagor, all endorsers, if any, and all othet persons who are
~ or shall be liable for the payment of said indebtedness, and
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