mortgage discharge
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8/2/2019 Mortgage Discharge
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5.2 ContinYing Secyrity:
(a) This mortgage and the securitycreated by it continues in effect as
security for the due payment of thesecured moneys until it is released,
even If inthe meantime andfrom time
to time,youraccount(s)with usor thatof a borrower is In credit and
notwithstanding any settlement of
account made with you or aborrower.
5.4 No Prejudice: This mortgage and the
obligations you have under it, are in
addition to anddo notmergewith or affect:
(a) any other security or negotiable
instrument we may hold for the timebeing from you, a borrower, oranother person;
(b) any other claim we may haveor right
we ma y be able to exercise againstyou,the borrower oranotherperson;
(b) If there are no secured moneys
outstanding and no obligation (actualor contingent)relating to the paymentof the secured moneys and:
(e) anyjudgment ororderwe mayobtain
against you, a borrower or anotherperson.
fI~,
(I) i f there is no reasonablepossibility that any of thesecured moneys will have to
be refunded under the law; and
(i i) we are under no existing
obligation to provide, or to
continue to provide banking or
other financial services to youor any borrower;
you may request us to release this
mortgage which we may do byprovidingyou with a written dischargein a form acceptable to us.
In addition, the existence of any other
security or negotiable instrument is not toaffect our rights under this mortgage.
5.5 Related securitjes; If a default occurs
under thismortgage,thatdefaultis deemedto have occurred undereachother related
security and under each agreementcovered by this mortgage. However, it
is up to us to decide whether we are toexercise our rights under this mortgage,
each agreement covered by this
mortgage and each of the related
securities at Ihe same time or at differenttimes or at all.
:-
(e) If the property is subject 10 a trust,
an d you have signed any agreementcovered by this mortgage or any
related security as trustee of thattrust, you continue to be liable under
this mortgage after you stop beingtrustee until we give you a writtendischarge,
(d ) We are not obliged to marshal any
security we now hold or we later take
from you (includingthis mortgage) orany funds or assets over which we
may have a ciaim or entitlement toreceive.
5.3 Priority 0/ Security: The maximum amount
inserted under the heading .Priority
Amount" in Ihe memorandum of mortgageyou have signed or are to sign is a
statement made for our benefit and for the
purposes of section BOA(2)of the Property
LawAct 1952, Itis notintendedas implyingthat:
5.6 Unconditionality of Security: Thismortgage, the securitycreatedunderit, andthe rights we haveand the obliQationsyou
have underthis mortgageare not affected:
(a) by any extratime wemaygive, orany
concession, acceptanceof payment.negotiable Instrumentor security we
maytake, orany compromiseor other
indulgence we ma y ma k e or grant to
you, a borrower, a CD-guarantor,oranother person;
(b) any decision on our pari to increase
or cancel or otherwise vary any of
your credit limits or those of a
borrower, a co-guarantoror anotherperson;
(e) If for any reason(legalor otherwise),
we are unable to recoverthe whole
or any part of the secured moneys
from you,a borrower, a co-guarantoror another person;
(a) we will provide banking and financial
services to you and/or any borrowerup to the priority limit; or
(d) by any failure on our part to make
demand on, or enforce our rightsagainst, you, a borrower, a co-
guarantor, or another person;
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(b) that the priority limit is the total
amount that this mortgage is capableof securing.
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