Payment of Secured Indebtedness. Mortgagor covenants and agrees to pay all of the Secured Indebtedness and each separate item or installment thereof as and when the same shall become due and payable, whether by extension, acceleration or otherwise. If the Mortgagor pays and discharges all amounts of outstanding principal and accrued interest due and payable under the Secured Indebtedness then in that event only, this Mortgage shall be and become null and void and discharged of record.
Appears in 8 contracts
Samples: Mortgage, Security Agreement and Financing Statement (Amrep Corp.), Line of Credit Mortgage (Amrep Corp.), Mortgage, Security Agreement and Financing Statement (Amrep Corp.)
