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82002175
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Last modified
3/10/2009 5:00:57 AM
Creation date
2/27/2009 11:38:04 PM
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DEEDS
Inst Number
82002175
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1 <br />the holder of the Fir t Mortgage modifying or amending any <br />af'the provisions o£ the First Mortgage, including (but nct- <br />lixuited to) the provisions dealing with the payment of <br />principal or interest, cafthout the prior written consent of <br />the Mortgagee. <br />6. Parellel reductions of balance of principal. <br />if'the unpaid 'principal balance of the Firs ?3ortgage i re- <br />duced eithez by apgiica ion by the holder of said First <br />Misr gage of insurance proceeds or o£ condemnation proceeds <br />in reduction of said principal balance, or-by prepaymen=ts <br />made by -the Mortgagor with..the prior written consent of';the <br />Mortgagee, so that in either. event t3xe Mortgagee's abigati:on <br />under theek}raparound 'iartgage to pay to the balder of the <br />First Mortgage the unpaid principal balance of said First <br />Mor gage'(as hereinbefore;provfded} i similazlyreduced, <br />then in such event, the M ortgagee agrees that the Mortgagor`s: <br />ablfgation to pag the principai'fndebtedness to the Mortgagee <br />under thetirapsraund mortgage, sba21' be likewise:Yeduced by <br />an equivalent amount; such equivalent amount to he deducted <br />from the payment to be made by the Mortgagor to the Mortgagee <br />under the- bPraparaunsi,Mortf;age. <br />7. MoztB~or`s rf,~ht to make Payx¢ents on First <br />M artgage, Ef'the M artgagee shall dezault in making any <br />regcired gaymeat (or principal and~'or interest) under the <br />;first '4aztgage, at least five days prior to the expiration <br />{ <br />} ..., <br />
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