3.5. EDSR HANDOUT 10-17-2016 - Laserfiche WebLink

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XNb7JJL (o) Mortgagor's representations, warranties, and obligations under this Section 3 shall not be terminated, released, discharged, extinguished, or otherwise affected by any foreclosure of this Mortgage, any deed in lieu of foreclosure, any payment or performance of any indebtedness or obligation, or any other action or thing. This provision may be enforced at any time by Mortgagee. (p) Interest on the unpaid principal balance of the Note shall accrue as follows: From the date hereof through the last day of April, 1994, interest on the Principal Balance shall accrue at the rate of six percent (6t) per annum. The rate of interest shall be adjusted on the first day of May, 1994, the first day of November, 1994, and on the first day of each May and November thereafter (each such date being an "Adjustment Date"). The new interest rate established on an Adjustment Date shall be equal to the lowest prime rate listed in the "Money Rates" section of the Wall Street Journal, as most recently published or announced on or prior to the Adjustment Date, rounded to the nearest one-eighth (1/8) of one percent (the "Index"). If the Index is no longer published, the Holder shall select a comparable alternative interest rate indicator as the Index and shall so notify Borrower. Interest shall be computed on the . basis of a three hundred sixty (360) day year, composed of twelve (12) thirty (30) day months. 4.) Payment by Mortgagee - If Mortgagor fails to pay any amount it is to pay pursuant to this Mortgage, including taxes and assessments, or to perform any obligation set forth herein, Mortgagee may pay such amount or perform such obligation. The. sums so paid shall bear interest from the date of such payment at the same rate set forth in the Note, shall be impressed as an additional lien on the Mortgaged Premises, and be immediately due and payable from Mortgagor to Mortgagee. This Mortgage -.shall from the date thereof secure the repayment of such advances with interest. 5.) Events of Default/Acceleration of Maturity - Mortgagor agrees that, at the option of Mortgagee and in addition to, rights to accelerate the maturity of the indebtedness secured hereby as set forth herein, the entire remaining principal ` balance plus accrued interest may, at Mortgagee's option, become immediately due and .payable in full on the occurrence of a breach or default by Mortgagor under the terms of the Note or this Mortgage (each referred to as an "Event of Default"), provided that Mortgagee shall give Mortgagor five (5) days': prior written notice of any non -monetary default. a