|
<br />s4 - oo2ose
<br />(ii) All rights, privileges, tenements,
<br />hereditaments, rights-of-way, easements,
<br />appendages, and appurtenances in anywise
<br />appertaining thereto, and all right, title and
<br />interest of Mortgagor in and to any streets.
<br />ways, alleys, strips or gores of land adjoining
<br />the Land or any part thereof; and
<br />(iii) All betterments, additions,
<br />appurtenances, substitutions, replacements and
<br />revisions thereof and thereto and all reversions
<br />and remainders therein. As used in this Mortgage,
<br />the term "Mortgaged Property" shall be expressly
<br />defined as meaning all, or where the context
<br />permits or requires, any portion of the above and
<br />all or, where the context permits or requires,
<br />any interest therein.
<br />(h) Note: The promissory note dated of even
<br />date herewith executed by Mortgagor, payable to
<br />Mortgagee in the amount of 6100,000.00 due March
<br />16 1985, secured by this Mortgage, and any and all
<br />renewals, rearrangements, enlargements or extensions
<br />of such promissory note or of any promissory note or
<br />notes given therefor.
<br />(i) Permitted Encumbrances: The easements,
<br />building lines, restrictions and other matters of
<br />record as of the date hereof and the lien and security
<br />interests created by the Security Documents.
<br />(j) Security Documents: The Note, this Mortgage
<br />and any and all other documents now or hereafter
<br />executed by Mortgagor to evidence or secure the
<br />payment of the indebtedness or the performance and
<br />discharge of the obligations.
<br />ARTICLE 2
<br />GRANT
<br />2.1 Grant: To secure the full and timely payment of
<br />the Indebtedness and the full and timely performance and
<br />discharge of the Obligations, Mortgagor has GRANTED,
<br />BARGAINED, SOLD and CONVEYED, and by these presents does
<br />GRANT, BARGAIN, SELL and CONVEY and. COLIF4IRM, unto
<br />Mortgagee the Mortgaged Property, subject, however, to the
<br />Permitted Encumbrances, TO HAVE AND TO HOLD the Mortgaged
<br />Property unto Mortgagee, forever, and Mortgagor does
<br />hereby bind itself, its successors and assigns to warrant
<br />and forever defend the title to the Mortgaged Property
<br />unto Mortgagee against every person whomsoever lawfully
<br />claiming or to claim the same or any part thereof;
<br />provided, however, that if Mortgagor shall pay (or cause
<br />to be paid) the indebtedness as and when the same shall
<br />become due and payable and shall perform and discharge (or
<br />cause to be performed and discharged) the Obligations on
<br />or before the date same are to be performed and discharged
<br />then the liens, security interests, estates and rights
<br />granted by the Security Documents shall terminate,
<br />otherwise same shall remain in full force and effect.
<br />ARTICLE 3
<br />AFFIRMATIVE COVENANTS
<br />Mortgagor hereby unconditionally covenants and agrees
<br />with Mortgagee as follows:
<br />-2-
<br />
|