22-18 Exhibits-Discharge of Mortgage-589 Eagle Rock Avenue.pdf

10/30/2017 12:52:18 PM ESSEX COUNTY v LENDER under this Mortgage Note and Mortgage, LENDER’S rights under this Mortgage will end. The LENDER will then cancel this Mortgage at BORROWER(S) expense. 9) Term. This Mortgage shall be due and payable whenever this property shall be sold or title transferred or BORROWER ceased to occupy this property as their primary residence as provided for in the Mortgage Note. 10) The Lender may subordinate the lien of this Mortgage to the lien of any subsequent home equity loan, secondary mortgage or refinancing to be procured by the BORROWER (S). The Lender will establish rules and regulations for BORROWER(S) to follow in requesting such subordination and may require a reasonable fee to process the necessary paperwork. BORROWERI(S) must allow ample time for the Lender to process any such request prior to the anticipated closing of the new financing that requires any subordination of the lien of their West Orange Housing Program Mortgage. 11) In the event the Lender agrees to subordinate its mortgage, the LENDER shall, if required by the lending institution and after being presented with necessary documentation, execute such documents as may be necessary within twenty-five days of request to do so, to indicate the subordinate character of this Mortgage. 12) No Waiver by Lender. LENDER may exercise any rights under this Mortgage even if LENDER has delayed in exercising that Tight or ae agreed to an earlier instance not to exercise that right. LENDER does! (pot hai iurights to deci: larext that BORROWER (S)isiin default by making payments ‘or incurring “Oxpenses én BORROWER(S)) ‘betialfe” “uct? hed ¥ Inst.# 13041017 - Page 4 of 5