81005333 - Laserfiche WebLink

Browse

g~-.._ ~~~c`~etli respectively advanced at the aforesaid rate, ~~ayabie se:~i-annualry or. the Fi~"stdays of I~Oh and 8eptembeP in each year until such sum or sums so advanced shall have been respec- tively and fully paid, and perform ar.d observe a21 the convenants and agreements on the part of the :'.iortgagor herein contained, then these presents shall be void. And the said iAortgagor, for himself, his heirs, execu- tors, administrators, and assigns, does further covenant and agree to and with the idortgage, his executors, administrators and assigns to pay the note and interest as they become due, and also on or before the said F1TSt day of September, 1986 to repay all such further advances, with the rnterest thereon as hereinabove provided. But if default shall be made in the payment of said sum or sums of money, or interest thereon, or any part thereof, at the Lime and in the manner hereinbefore specified or if the taxes and assessments against said premises are not paid at or before the time the same become delinquent by law, the 'dortgagee silali have the option to deciare the whole of said indebtedness due and payable at any time after such failure or default, and may maintain an action at law or equity is recover the same, and the conunence- rnent of such action shall he the only notice of the exercise of ca itl ~,~ti np req~ire~i, to the event of default in the uerformance of anv of the terms and renditions of this 'ttortgage or the note secured by it, the Aiortgagee shall be entitled to in~ntediate possession of the property above described and all the rents, revenue and income derrved therefrom during such time as the P.iortgage indebtedness remains unpaid shall be applied by the ~dortgagee to the payrient of the note and all ocher sums secured hereby after deductions of any necessary cost of collection. DA~'lD this F1rtlt day of ©otQber 1981. -ass ~~ _~_