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<br /> � � Notes to evidence loa�s. made by the Mortgiiges to the Mortgagor_ TEfe , �
<br /> I�fottgagor, vhen authorized by resolution of i�s board of director�, may also ,
<br /> fro� time to tima ex�cute snd deliver one or mare Additional hates to refund _.
<br /> any Note at ttte tiate`outstan@ing and secured hereby� or fn renewal vf, or in
<br /> substitution for, arry such outstanding Note. Additional Notes shall conta£n ,- �
<br /> such provisions and shall be executed and delivered ugon such ternts and
<br /> .� " _ � conditions as the board of directors of the Mortgagor in the resolution ' ,
<br /> � �authorizing the �execution and delivery thereof and the Mortgagee shall
<br /> . � . - prescribe, provfded� ho�rever, that no.i�crse shall�mature maFe thaa €ifty (SO)
<br /> � , , �; years after ;�he date heteof. Additiflrc�al Hotes, including re£unding, renewal
<br />: �. � and ;subst�tute Notes. when and as executed and delivezeds. shal2 be secured by � "
<br /> , thfs';piortgage, equally and ratably with..,all other Notes.��t"the _ti�e � _ :
<br /> � ouis�nding. wfthout preference. priori�r� or distiact�Ei.�E any nf the=�otas . '
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<br /> ------- � ' over"�p athsr af ttte riar.css tsy reasa;���� t.'�ta-�sF€a�iey.cia'���.€��-��f-��a'��.,.� � -
<br /> � ' executian, delivery or maturity thereof dY of the ass'sgranent" oi.neg�tiat�on. � � �
<br /> ` thereof. As.used in this Mortra�e, tHe term ^d3�ectars� includes tgustees. ,
<br /> � SECTION 2.02. Suavlemental ,Mott�ages t��Csnfirm Security: The _ _ '
<br /> �. ` - Mortgagor, when authorized by resolutian of izs board �f:directors, may from
<br /> � '. time to time execute, acknovledge, deliver, recqrd an� file mortgages
<br />; supplemental. ta this Mortgage which thereafter shall €orm a part hereof, for ,
<br /> the purpos� of formally coiifirming this•Mortgage as secu�ity for the Notes. .
<br /> �. . .
<br /> ARTICLE III �. . .
<br /> ` � � PARTICUTAR COVENl�IJTS OF THE MOATGAGaA ' `
<br /> � � �.__.::.�.
<br /> � .
<br /> The Mortgagor covenants •with the Mortgage� as follows: .
<br /> SECTION 3.01. Authority ta Execute and Deliver Notes and
<br /> 1�ortgaQes: AL1 Actian Taken: Enforceable Obli�ations: The Mortgagor is duly � __
<br /> autharized under its articles of incorporation and by-laws and the laws o£ the � ,� ,�;'
<br /> State of its incorporation and all othe� applicable provisions of law to ,
<br /> execute and ae�iver the First i�ate and thfs Mortgage and to execute and ;��
<br /> deliver Additicnal Notes; and �L2 corporate action on its part fo� the �
<br /> executicz and deliver�r of the First I3ote and reS�►f� Ffurtgage has been duly and , �
<br /> effectively taken; aad the F'irst Note and this Mortgage are the valid and �
<br /> enfarceable obligatians af ttae Mortgagor in aacordance wfth theiY respective j �:
<br /> terms. ' ;��e.�"
<br /> , SECTIOAl��3.02. Authority to Mort�Ee Property: No Liens: ;;�.:
<br /> Exception for Permitted Encumbrances: Mort�aeor to Defend Title and Remo•fe , �
<br /> Liens: The Kostgagor wa=rants that ft has good. right and law£ul authority to �
<br />: mortgage the property described ir► �he granting elauses of thfs K�atgage for '
<br /> the putposes herein expYeased, and that.the sa�d property is free and clear �of
<br /> any deed a£ tzust. �oztgage, lien, charge or encumbtaace theseon or affecting
<br /> the t£tIe thereto, except (i) the lien of this Mortgage ard taxes or
<br /> assessments nat yet_due;_(ii) deposits_or_pledges to_secure payaent .of _______
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<br /> �� � � workmen's co�g�nsation, uaemp2e��ent insurence. o2d age pensions or otlier
<br /> socfal security; aad (iii) deposits or pledgea to seauze performance of bids, .. '
<br /> tenders. contracts (other than coatracts for the payment of borrowed mane;•j ,
<br /> ' � leases. pub2ic or statutory obligations, surety or appeal bonds� or other
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