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83000672
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Last modified
11/18/2008 1:05:56 AM
Creation date
11/18/2008 1:05:49 AM
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DEEDS
Inst Number
83000672
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I <br />- z - $~-~., t)G067 <br />to the Banks dated December 18, 1981 (the "Notes") and shall fully pap all <br />other sums becoming due to the Banks as provided herein, and shall as well <br />fully and in all respects perform and keeg all covenants, conditions, stipula- <br />tions, and agreements to be performed and kept by Mortgagor as provided herein, <br />and in the Loan Agreement, and shall pay or cause to be paid to the Banks, <br />their successors or assigns when due, whether by acceleration or otherwise, all <br />othez and additional loans or advances made by the Banks to Mortgagor, whether <br />evidenced by any loan agreement, security agreement, guaranty, promissory note <br />or otherwise executed and delivered by Mortgagor to the Banks at any time after <br />the date hereof and prior to the written release and discharge of this Mortgage <br />by the Banks, all of which are and shall be secured hereby, then in such event <br />the Banks will, upon receipt of written demand from Mortgagor, execute and <br />deliver to Mortgagor a complete written release of this Mortgage and this <br />Mortgage will then be void. Otherwise this Mortgage shall remain in full force <br />and effect. <br />This Mortgage shall not, in any event, be automatically released or <br />discharged by the payment and satisfaction of all or any part of the Debt at <br />any time outstanding, but shall remain in full force and effect until released <br />and discharged in writing by the Banks in accordance with the preceding <br />paragraph. <br />The Banks have no obligation to, and has not committed to, but may at <br />its option, lend or advance to Mortgagor any amount over and above that amount <br />evidenced by the Notes and Loan Agreement. <br />The debt evidenced by the Notes, together with all other above- <br />described loans and advances made by the Banks to Mortgagor and all other <br />above-described obligations of Mortgagor to the Banks are herein collectively <br />called the "Debt". <br />MORTGAGOR HEREBY EXPRESSLY COVENANTS AND AGREES AS FOLLOWS: <br />1. Mortgagor shall pay the Debt and all other sums hereby secured <br />when due. <br />2. Until the Debt and all other sums hereby secured are paid in full, <br />Mortagor shall keep the Mortgaged Premises insured against Loss or damage by <br />fire, windstorm and such other hazards as may be required by the Banks, by <br />policies of insurance in form and amounts satisfactory to the Banks and written <br />by insurance companies approved by the Agent. Such policies shall be payable <br />to Mortgagee and the Agent as its interest appear and shall not be cancelable <br />without at least thirty (30) days written notice to the Agent. Mortgagor shall <br />pay all gremiums on such policies on or before the date such premiums become <br />due and shall upon request by the Agent furnish to the Agent evidence of such <br />payments. Proceeds payable by reason of loss covered by such insuuance shall <br />be paid and applied in the manner required by the Loan Agreement. Certificates <br />or policies of insurance, and abstracts and other title evidence, shall be <br />delivered to and held by the Agent upon request of the Agent. Upon foreclosure <br />of this Mortgage or other acquisition of the Mortgaged Premises or any part <br />thereof by the Banks said policies, abstracts and title evidence shall become <br />the absolute property of the Banks. <br /> <br /> <br /> <br />
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