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<br /> 78- , � � _ �. 6
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<br /> all aebu, ob� �g`ations and liabilities incurred by reawn of an� ■ction taken by thc Mortgagee, as provided in thi� Paragraph, all
<br /> of which amaunts so paid by the Mortgagee, wi�h interest thermn (ram the darc of each such payment, rt the rate of thtee percent
<br /> ( 39'e ) per aanum, shall be payable by the Mortgagor to lhe Mortgagee on demand and shall be setured by this Mortgage.
<br /> �. No building or other atructure ot improvemmt, (isture oc pertonal property mnrtqaged . hereb� shall be removed or I
<br /> demolished without the pcior written consmt of the Mortgagee. The MortRagor will not make, permit or suffer any 4teration oE
<br /> or addition to an� building or other structuce or improvement now or w•hirh may hereafter be ecected or installed upon the
<br /> mortga6ed property, or any part thercof, �cept the improvemcnts rcquir< .1 ro be made pursuant to Paragraph 3 hereof, nor
<br /> vi�l the Afortgagor use, or pecmit ar suffcr the uee of, my oE the mortRaged pruperty for amy purpose other th�n thc putpox
<br /> ot purposea (or �vhich the same is no�v intmded to be used, without thc prior written consent of the � Mortgagee. The Mortgagor will
<br /> maintaia the mortgaged property in 600d condition and state oE repair and wi11 not suf(er or permit any waste to any part tt�ereof, and
<br /> will promptl� complp w�ith ati the raquiremrnts of Federal, state and local gorernments, or of any departments, divisions or
<br /> bureaus thereof, pertaining to such prop�rty or any part thereof.
<br /> 3. 'I'he Mottgagor will not voluntarily crtatq er permit nr auffrr tn hc crcated or to txiet, nn or �gainst the mortgaged
<br /> � pmperty, or any part thereof, any lien suparior to �he lien of this Dfort,q:�g�, ex� �u.ive of the lim ���t liens, if any, to which
<br /> � this MortgaFe " is espressl� subject, as set forth in the �ennting clause ab��ve. and will keep and maintain the same free from
<br /> Ne daims of alt parties supplying labor or materials ahich will en�er inro the constna�ion or installation of the Improvemmb.
<br /> . 6. (a) The MortRaBor w•ill keep alI buildings, nMer atructurcs ond improvemenrs, including equipment, n�w esisting or
<br /> vhich may hereafter be erected or installed on the land mart�Gagrd hereby, insureJ againxt loes by fire and other haurds,
<br /> rasualties and contingrncies, in such �mounts and manner, and for such periods, all as may be required from time to timt by
<br /> the Mortgagee. Linless otherwise requircd by the MartgatCee, all auah insur�ncc ehall ht rFfccted by Sbnd�rd Firt and Extended
<br /> Covera�Ce Insurance policies, in amounts nnt lesz than nece•ssary m rrnuplv w•ith the coimurance clause perctntage of Ihe value
<br /> applicable to tbe location and chanrter of the pr��perty to be rovercd . A � I xmh insunnce shall be tarried in rompanies �pproved
<br /> by the Mortgagee and all policiesthere(ot shall be in zurh form and shall havc atta��hcd thereto loss payable clausrs in favor oE the
<br /> Mortgagee and any other partits as shall be s��isfaciocy eo �he MurtRaRce. All wcb poliries and at[nchmrnts thercro sLall, At delivered
<br /> prompHy to the Morfpagee, unless Ibty are required to br delivercd to �he holdcr r.( a litn of a morlRage or similar instru-
<br /> mrnt �o which this Mortgage is eYpressly subject, in w�hich lathr e�rnt � crtifintes there��f. �atixfa�tory ro the MortgaRee, shall be �
<br /> delivered promptly to the MortAaRee. The MortRaRor will pay pmmptlY a'hen duc. as hneinaFter pmviJed, and any �nd all
<br /> premiums on such insurance, and in every case in which paymrnt thrrrn( it noe made from the drposits therefor required by this .
<br /> Mortg�ge, prompHy submit to the Mortgagee fm cx�mination rerei�+t� or ��Ihrr cvidvnro uf su. h payment as sha�l be satis(a[tot�
<br /> to the Mortgagee. The Mortgagee may nbtain and pay the premium on (hut shalt bc unJrr nn nhliRation to do so) evcry kind Of
<br /> insurance requi�ed hereby i( the ■mount of such premium has not hern drpnsited as requircd by this Mortg�ge, in which event
<br /> the Mortgagor wil! psy to the Mortgagee every premium so paid Fy tfie MnrtFaRee.
<br /> (b) In the event o( lom or damage to the mortgaged property thc MartRaFor will give tn the MortFagee immediate notite
<br /> Ihereo( br mail, and the MortRapee may make and lile pronf of Inax if nnr m��le otherwisc prnmptly by or on behalf of the
<br /> Mortltagor. Each insunnce company issuing any such policy is hereFy nurhorized anJ directed to make payment herevnder for
<br /> such loss directlr to the Mortgagee, instead of to �he MortRaqor and th� D1ortRaRer jnintly, unlest the amount nF Inss is pq-
<br /> able first to the holdec of a lien under a mortRoRe or +imilar instrument to whicfi this MortgaRe is ezpressty subject; and the
<br /> insuranc< proreeda or �ny part therenf is received bT the - MortRaRee may br applie.l by, thp MortRagee, at id option, eifher
<br /> in reduction oI the indebtedness hereby secureJ, or to the rcstoration or rcpair of the mortRiged property dimaged. (a
<br /> � the event o( (orccbsure of this MortgaRe, or uf ony tnnskr of tide ro the m.,rt,q�aeJ property in extinguiahment of sueh indebb
<br /> edness, all right, tiHe and interest of the Mortgasor in and to every su<h insunnre, poliry tben in force, subject to rhe dg6ts
<br /> � and interest of tbe hotdu of an� mch prior lien, shall pass to the Rnntee acquirinR title ro the mor�gaged propertp together �vith
<br /> such poliq and appropriate assignment of such right, title and interest ..•hich ahall be made by the Mortg�gor.
<br /> 7. (a) In ordec morc fully lo protect the security of ehis Mortgage, thr Mor[gagot shall deposit wilh the Mortgagee to-
<br /> �, gether vith, and in aJdition to, the payment of principal ind interest monrhly on ucount of the Note xcured hereby, vatil
<br /> the Note is paid in full, an amount of money equal to the tohl amount of ( i ) Rround rents, if any, next becoming due, (if) the
<br /> . premiums nezt becoming due on the pn�icies of fire and all other hazarJ insunnce requircd by this Mort�ge with respect to the .
<br /> �. mortaaged propert�, (iii) tazes, assessments, water rates and other governme�tal chirges nr:t bemming due on the mortg�ged
<br /> property (all the foregoina amounts as e�timated b� the MortRapee and set forth in • .vritte� notice oE such estimate by the
<br /> MortgaRee to the MortgaRor from time to time), less all amounb that may already have been paid thercfor, divided by tlse aumber
<br /> . � of calrndar months to elapx before one ca �mdar month prior to the date .vhen such Rround «nts, premiums, tues, �ssess. �
<br /> �, ments, water ntee and ofher lcovernmentil chargef, rtipectivtlr, �vi11 berome due and payable. If any amount referred to in
<br /> , clauses (i) through (iii) bereof is rcquired to be deposited br the MortRaKor under a morrRage or simi6r instrummt having
<br /> ,' priority over the lim of this MortgaRe, the Mertgagor shall make the depesits required by tbis ParaRnph 7 onl� in the event of the
<br /> termimtion of such obtigation under tbe prior mortgage or eimilar instrument. Thr Mortgagor shall give prompt notice in vrib
<br /> � inR to the Mortgagee of tM1e occuzrence of the laebmentioned avent. All snch amounts so Jepoeited with ehe Mortgagee ehall be
<br /> . held by the Mortgagee, or iny agent designated b� ir, in trwt to be mrd onty For the payment of such ground rents, premiums,
<br /> �, tazes, asxssments, vater ntes and other governmmtal chargn. No i��ercsr shall be payaFle by the Mortgagee on m� sum w
<br /> . deposited.
<br /> . (b) All amounts tequired to be Jeposited dithin the MortRaftee monthly in accnrdance w:th Pangnph Y(a) hereof, and the
<br /> amount of principal snd intuest to be paid ach month on ucount oF the Note, shalt be added together, and the �ggregate amonnt
<br /> . thereof shall be paid by the Mor[gagor to the Mortgagee in a sinRle payment to be applied by the Mortgagee on acmvet of the
<br /> � indcb�edness of the MertRagor pursuant to the Note and this Afort�aRe (to the exlent that monies are a�ailable from the
<br /> � nmount so deposited) , in the ordet, aay provision of the Note to the cnntrzry notwithstanding, as fellows:
<br /> � PIRST, to the late charges, if an�, rcferred to in the Note;
<br /> � SECOND, to the amount of such ground rents, if an�, fire and other hazard insurance premiums, L:es, �ssasmente, wter
<br /> ntes and othec governmental charges required to be paid under rhe pro�isions o( this MortRaRt, in w.hatever sequence the
<br /> � Mortaagee may ezdusivd� determine;
<br /> THlRD, to interest due on the Note; and
<br />� FOUdTH, the remaindu, to the p�incipal due on the Note.
<br /> An� defieirnq in the amount of a�� such aggregate monthlr pa�mrnt shall, unle.s paid b� the Mortga/mr p�ior to ehe due d�te of
<br /> the nezt sucb depout pqable, constitute an cvrnt of default under this Mortgage.
<br />�, (c) .Any ezcps fuods that ma� I>e �ccumulated by rtason of the deposits rcquired under Paragnph 7(�) hermf, remalntaa
<br />� , a(ter parmeet of the amounts described in clauad (i), ( ii ) and ( iii ) therco(, shaU be creJited to subsequent rnpective moathl� ' �—
<br /> �mounts of the same nuure requiied fo be paiJ theteunder. If any <uch amount shall ezceed the e�timate tlxrefor, tht Mortgasor
<br /> shall lorehwith q� to We Mottgagee ffie amount oE �uch de(icimq upon vritten not:i�e br the Mortgagee o( the �mouM theteof. I
<br /> E,, . "; . Failure to do w before. the due date of sucd amount ahall be an ev�nt nf dcfaule undec this Mortgage. If the mortg�ged prop-
<br />�; �. =. ert� is wld uader foreclowre ot is othanv:u acquired br the btortgagte, after drEault by the Mortgagoq any remainina
<br />�� � � � . '. . bala�ce of the atcumulaGoro under Paragnph 7(�) 6ereof, shall be ctedited to the principal amovot owing on ehe Note as of We
<br /> . date of eommmcemtue oE foreclos�ate proteedinp for t6e mottsased properq, or n of the date the mongaged propetl� i�
<br /> othenvise w acquired.
<br />� � � 8. The Improvemmts ■� •tl plam �nd specifintione therefnr eha�l comply a•ith all applicable municipal otdinances, regu• �
<br /> " . � lations, aad rules made or promutaated b� lawht authorit�, and upon their complction shill mmp�y therewith.
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