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,. 86- -iQ3350 <br />of the property covered hereby, without affecting the priority <br />hereof or the liability of Mortgagors or any other party for <br />the payment of said indebtedness, all such extensions, deferments, <br />renewals, and reamortizations to be secured hereby. <br />10) Transfer of Security. It is agreed between the parties <br />hereto, their heirs, legal representatives and assigns, that the <br />integrity and responsibility of the Mortgagors constitutes a part <br />of the consideration for the note secured hereby, and that in the <br />event the Mortgagors shall sell, transfer, or convey the property <br />described herein, the Mortgagees may at their option declare the <br />entire indebtedness immediately due and payable and may proceed in <br />the enforcement of their rights as on any other deiault in the <br />terms of the note and mortgage. <br />11) To comply with all laws, ordinances, and regulations affecting <br />the property. <br />12) a. Any prior liens, the promissory notes secured thereby <br />and any and all other documents executed in connection therewith <br />will be hereafter referred to as "Prior Loan Documents ". Mortgagees <br />may, but shall have no obligation to, cure any default or event <br />of default under the Prior Loan Documents. Any sums extended by <br />Mortgagees to cure default or event of default under the <br />Prior Loan Documents shall be treated as additional indebtednss <br />hereunder and secured thereby, shall bear interest at the applicable <br />note rate set forth in the note, compounded monthly, and shall be <br />payable upon demand. Any uncured default or event of default <br />under the Prior Loan Documents shall also constitute a default <br />hereunder notwithstanding any cure of or attempt to cure such <br />default or event of default by Mortgagees. In addition to and <br />not in lieu of the foregoing, to the extent that any sums are <br />expended by Mortgagees to make any payments or perform any <br />obligations owed under the Prior Loan Documents to the <br />holder thereof, the Mortgagees shall be subrogated to all of the <br />rights, claims, liens, titles and interests of the holder of the <br />Prior Loan Documents to secure such payments and obligations, and <br />those rights, claims, liens, titles and interests shall not be <br />waived but rather continued in full force and effect in favor or <br />Mortgagees and shall be held in addition to the lien and security <br />interest created hereunder as cumulative security for the repayment <br />of the indebtedness and the satisfaction of the obligations of the <br />Mortagors under the Related Agreements. <br />b. The Mortgagors shall not renew, rearrange, modify, <br />extend, or otherwise amend the Prior Loan Documents or attempt to <br />do any of the foregoing, or accept or suffer any advance or payment <br />to or for the benefit of Mortgagors which is secured by any of the <br />Prior Loan Documents without the prior written consent of Morgagees. <br />13) Fixtures. This mortgage constitutes a fixture filing under <br />the Uniform Commercial Code with respect to the following types <br />of fixtures: including, but not limited to, all heating, cooling, <br />air conditioning, plumbing appliances and equipment now or hereafter <br />attached to, or built in, any building or improvement upon the <br />designated legal description shall be deemed fixtures and a part of <br />the mortgaged property. <br />(Words and phrases herein, including the acknowledgment hereof, <br />shall be construed as in the singular or plural numbers and as <br />masculine, feminine or neuter gender, according to the context.) <br />DATED this !`r day of .' 1986. <br />f <br />I <br />�' <br />