Common use of Statutory Condition Clause in Contracts

Statutory Condition. This Mortgage is upon the STATUTORY CONDITION and upon the further condition that all covenants and agreements on the part of the Mortgagor herein undertaken shall be kept and fully and seasonably performed and that no breach of any other of the conditions specified herein shall be permitted, for any breach of which conditions, the Mortgagee shall have the STATUTORY POWER OF SALE.

Statutory Condition. This Mortgage is upon the STATUTORY CONDITION CONDITION, subject to the applicable notice, grace and cure provisions provided herein, and upon the further condition that all covenants and agreements on the part of the Mortgagor contained herein undertaken shall be kept and fully and seasonably performed and that no breach of any other of the conditions specified herein shall be permitted, for any breach of which conditions, the Mortgagee shall have the STATUTORY POWER OF SALE.