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82004058
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Last modified
3/10/2009 12:38:01 PM
Creation date
2/28/2009 7:46:32 AM
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DEEDS
Inst Number
82004058
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<br />4. OPTIONc1L AD~'~NGES. If the insurance required above is nct <br />pronptly effected, or if the taxes or special assessments ;.euied and <br />assessed against the Prpperry hall become delinquent, 'tortagee (whether <br />electing to declare the whole mortgage due and collectible or not) may, <br />but need not, effec± such insurance, effect such reFairs, pay such taxes <br />and special asse sments, and all such-payments with interest. thereon at <br />the highest legal rate applicable to a natural person, or'i£`the Mortgagor <br />is a corporation,.. or partnership or other entity at the default rate provided <br />in the Note, from time of payment shall he a lies aganst'the Property <br />~. MISCEhLANEOUS. If all or any part of the property or an interest <br />therein is sold or transferred gy Mortgagor without Mortgagee's prior <br />written consent,. excluding: <br />(a) A transfer by de~tisees, descent, or by operation of law <br />upon!'the death of a joint tenant, ar <br />(b ), The grant`of any leasehold:interest of two years or <br />less not containing an option to purchase. <br />Mortgagee may, at Mortgagee's option, declare all sums secured by <br />this Mortgage to be immediately-dice and payable. Mortgagee shall have. <br />waived such option to accelera e if prior to the sale or Cransfer,;the <br />Mortgagee and the person to whom the property is to be sold ar transferred, <br />reach an-.agreement in writing that the credit of such person is satisfactor}~ <br />to theMortgagee and that the ;interest:~payableonthe sum secured by this <br />Mortgage shall be at such rate'. as Mortgagee shall request. <br />If Mortgagee exercises such option to accelerate, ?fortgagee sha17. <br />mail Mortgagor notice of acceleration in accordance witY; Paragraph b <br />herein. Such notice shat provide a period of not less than thirty- (30) <br />3. <br /> <br />
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