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85-. 00301,1 <br />s5— 002786 <br />-3- <br />Mortgagors further agree to pay all taxes levied upon <br />this mortgage and the debt secured hereby; and to pay all <br />taxes and assessments upon said real estate at or before the <br />time the same may become delinquent. If mortgagors fail to <br />pay the taxes at said time, mortgagee may pay said taxes and <br />in such event, mortgagors agree to repay the same with <br />interest thereon at sixteen percent (16X) per annum, and this <br />mortgage shall secure such repayment with interest. If the <br />said note and interest thereon, and all taxes paid by <br />mortgagee or assigns, shall be fully paid, this mortgage shall <br />be null and void; otherwise, it shall remain in full force and <br />effect. In case of neglect or refusal to pay any of the <br />monthly installments according to the terms of said note, or <br />in case of waste or in case of breach of mortgagor of any <br />covenant in this mortgage, mortgagee may declare all amounts <br />secured hereby at once due and payable and may foreclose the <br />mortgage therefor. <br />In the event the mortgagors herein convey the above <br />described premises, James Bamford, at his option, may declare <br />the entire balance of the above mentioned note due and <br />Payable. Acceptance of payments hereunder from such <br />purchaser, without written notice to James Bamford, shall not <br />be considered as a waiver of this right. <br />In case of default of payment of any installment of <br />"""'"0w•""'"• <br />principal or i merest or i r. <br />r payment of the taxes or insurance <br />. wanw.ewu <br />i <br />L L <br />