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<br />I <br /> <br />83-001001 <br /> <br />written representations to mortgagee as to the purpose or purposes for which the <br />money loaned on this mortgage was borrowed, such representations are hereby <br /> <br />specifically referred to and made a part of this mortgage, <br /> <br /> <br />And mortgagor does further covenant and agree that in case of default in <br /> <br />payment of said principal sum of money or future sums advanced under conditions <br /> <br />stated in the note, or of any amortization installments thereof, or of interest <br /> <br />thereon, or in the performance of any of the covenants or agreements herein con- <br /> <br />tained, then, or at any time thereafter during the continuance of such default, <br /> <br />mortgagee may, without notice, declare the entire debt hereby secured immediately <br /> <br /> <br />due and payable, and same shall bear Sixteen percent (16%) interest from said <br /> <br /> <br />date, and thereupon mortgagee shall be entitled to the immediate possession of <br /> <br />said premises, and the appointment of a receiver, as above provided, and may proceed <br /> <br />to foreclose this mortgage. It is further covenanted and agreed that in case of <br /> <br /> <br />default in the payment of anyone, or more, of the amortization installments <br /> <br />provided for in said note, or in case of the payment by the party of the second <br /> <br />part as provided for herein, of taxes, insurance premiums, or special assessments <br /> <br />of any nature, then in that event, the party of the second part may institute <br /> <br />foreclosure proceedings, on account of, and for such sums as are in default, and <br /> <br />such foreclosure proceedings may be had, and the land may be sold thereunder, <br /> <br /> <br />subject to the unpaid balance of the principal indebtedness hereby secured; and <br /> <br /> <br />this mortgage shall continue as a lien for the security of the payment of the <br /> <br /> <br />unpaid balance of the principal, notwithstanding such foreclosure. <br /> <br />The words "mortgagor" and "mortgagee" as used herein include the plurals and <br /> <br />also successors in interest, such as heirs, personal representatives, grantees, <br />successors and assigns, <br /> <br />The word "debt" as used herei n i nc 1 udes any and all advances made under option <br /> <br />of the parties herein as well as the principal sum of the mortgage. <br /> <br />Dated this 25th day of February, 1983. <br /> <br />) .--, <br /> <br /> <br />/.-. ." -/ . ~j'..:....,-- u' <br />\:.-/c<:-{1..(.~<-<~i",7 VA."..\..<' bU;r~rI.t-;tV <br />Patricia Lynne St01dill <br /> <br />-3- <br /> <br />