200003380 - Laserfiche WebLink

Browse

200003380 (a) Before the same shall become delinquent, all taxes, assessments and other governmental, quasi - governmental or public, or other charges affecting or relating to the Collateral and any accrued interest, cost and /or penalty thereon and shall submit paid receipts therefor to Mortgagee upon request. (b) When due, all encumbrances (including any debt secured by mortgage or deed of trust), leases, liens, and /or charges, with interest, on the Collateral or any part thereof and all costs, fees and expenses related thereto. (c) When due, all charges for utilities or services including, but not limited to, electricity, gas, water and sewer relating to the Collateral. Section 2.18 Upon demand by Mortgagee, Mortgagor shall pay to Mortgagee on the first day of each month, together with and in addition to the regular installments of principal and interest due under the 2000 Nojes, until the indebtedness secured hereby is paid in full, an amount equal to one - twelfth (1/12) of the yearly taxes and assessments, insurance premiums, and other similar charges as estimated by Mortgagee to be sufficient to enable Mortgagee to pay at least ten (10) days before they become due, all taxes, assessments, insurance premiums and other similar charges against the Collateral. Mortgagee may commingle such funds, and shall not be obligated to pay interest on any such sums. Upon demand of Mortgagee, Mortgagor shall deliver to Mortgagee such additional sums as are necessary to enable Mortgagee to pay such taxes, assessments, insurance premiums and similar charges. Section 2.19 Should Mortgagor fail to make any payment or to do any act herein provided, then Mortgagee, but without obligation so to do and without notice to or demand upon Mortgagor and without releasing Mortgagor from any obligation hereof, may: make or do the same in such manner and to such extent as Mortgagee may deem necessary to protect the security hereof; appear in and defend any action or proceedings purporting to affect the security hereof or the rights or powers of Mortgagee; pay, purchase, contest or compromise any encumbrance, charge or lien which, in the judgment of Mortgagee, appears to be prior or superior hereto; and, in exercising any such powers, pay necessary expenses, employ counsel and pay their reasonable attorneys' fees. Mortgagor shall pay immediately and without demand all sums expended by Mortgagee in accordance with the provisions of this Mortgage with interest from the date of expenditure at the Default Rate. All such sums so expended by Mortgagee shall, until paid, be added to and become a part of the debt secured hereby and with the same priority of lien. 2000 MORTGAGE (Grand Island, Nebraska) 13