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78008107
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78008107
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Last modified
1/12/2010 2:10:34 PM
Creation date
1/12/2010 2:08:30 PM
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DEEDS
Inst Number
78008107
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s.i~ediate3y deprs$it ~n a~xiunt e~tual to such defieiency with <br />i~stgagee. NOtwfthstandi.nq the foregoing, nothing contained <br />herein-s~aall cause Mc~rtga~ee to be de~:arted a trustee-ox" said <br />Funds or to ~e obli,gat~d to pay any amounts in excess of -the <br />amo~at of f3s deposited with tsartgagee pursuant to this <br />} Section l.f?$. Aortgagee shall not be obliged to pay or allow <br />any interest on any sums held by P~tortgagee pending disbursement <br />or application hereunder, and Mortgagee-may impound cir -_ <br />reserve far future payment of impositions such partian of <br />such payments as A~ortgagee may in its absolute-discretion <br />deem proper, applying-the balance on the principal of or <br />interest on the obligations secured hereby. Should I~rtgag<~r <br />fail to deposit with Mortgagee (exciusivE of that portion of ~: <br />.said-payments *ahich has been applied by Mortgagee on tie <br />grincpa.3. c~ or interest oa the indebtadr_ess secured by the`- <br />Loam ihst~~-~-~) s su~$icient tc dully nap such ~i~naosi-: <br />Lions at lest thirty {3p} clays,before.delinquency thereof, - <br />mortgagee may, at Aortgagee' a election, but without -any <br />obligation:-so to do advance-any aa,~iunts required. to make up- - - <br />tJfiie deficiency, which advances, if any,-shall be secured <br />,:~: <br />hereby and-shall be repayab7:e to Mortgagee as herein else~rlaer-e <br />provided, or at the option of i~lortgagee the latter map, <br />without-malting any advance whatever, ap~sly any sums held isy <br />it-upon. any obligation of the 2dortgagar.secured hereby. - <br />Should<any defatzl.t occur or exist on the part of the wort- <br />gagor in the pap~aent ar perforr,~ance of any of T~rtgagor's <br />and/car any- guarantor's 0131,~.gadons under -the terms ©f the <br />~.oan Instr~ts, mortgagee may, at-'any ±-i~ at i+~oz~t~'-s_ <br />optierr~; aflg3~. any sums or mounts in its lsands rECeive~ 3 <br />pursuant hereto, csr as-rents or income of the Security or <br />athervise, upon any indebtedness ar obligation n£ the <br />Mortgagor secured hereby in such .manner and order as Afartga4cr <br />~aay elect, The recei~it, use or agpiiration of any such sums <br />geld by '~io-tgagor to t4ortigagee hereunder shall .not he construed. <br />
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