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<br /> KT��156 1/23/90 (521) Grand island, N�
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<br /> (b) Upon written request by Mortgages, Mortgagor
<br /> _� shall submit, or cause to be submitte8, to Mortgagee, promptly
<br /> after payment thereof, appropriate evidence of the due arld
<br /> — punctual pay�ent of alI such Impositions. Ib the event ar�y� �
<br /> Impositioa is not paid by the last date payment of such
<br /> �mposition may be made without imposition of interest ot a
<br /> penalty Esubject to Mortgagor�s right to contest such Imposition
<br /> as here3n6efore provided) , Mortqagee shall have the rigl�t to gay
<br /> aay sueia T�nposition and to add to the Indebtedness the amount so
<br /> pa�d, �agether e�ith all. reasonable attorneys' fees, ceurt costs,
<br /> e�enses and other charqes relating thereto, and together with
<br /> i.nterest thereon from t�e� date of such paymer�t at a fluctuatiag �
<br /> rat� per �nnum equal to four percent (4�) above the rate of
<br /> _ inter�s� �stablished from time to tim� by Mortgagee as
<br /> ' Mo�tgage�}s °Referenee Rate° but not �o exceed the max3mwn rate
<br /> of interest permitted by applicable law (the "Default Rate'�) , a�d
<br /> nothina �.erein container3 shall afFect 4uch right ar�d such remec3y.
<br /> Any su.�s gaid by Mortgagee in discharg� of aay Impositions shall
<br /> — . be secur� by tbis Mortgage anc� sha11, Le �pa;��ble on c3emand.
<br /> �c) If an Event af Lefault �l�all have accurred ' '
<br /> and so laa�g as the sarne shall be coati¢uing, Mr�rtgagor upon '
<br /> Mortgag����,� request shall pay to Mro��3�ee ar� amo�:�t equal to �
<br /> one-twe�E'tn of the annual Impositior�� reasonably esti�natea by : � .;;;;
<br /> M��.�agee sa that Mortgagee sh�ll ha�e suffici�nt fur�ds to gay � � �
<br /> ti2e ��^positions on the first d�� of the mo�th ps�ceding the month "
<br /> in wn.fc� they become due. In such ev�ai� Mo��gago� �uzther agrees �� _
<br /> to cause �11 bills, sta���tents vr o�.n�� documents relating to �-
<br /> Impositfons to be sent ar mail� �irc�t�y to t�ortgagee. Ugen =-
<br /> receipt of suc� �ills, statem���,s vs c�ther c���unents, and � -=--
<br /> ' provided Mortgagor has depasite3 suff�zient funds with Mort�agee ' __
<br /> _ pursuant �o this Article 5, Mortgag�� shall pay such amounts as —
<br /> may be ��r� thereun8er out of the fun�x�: so deposited with
<br /> Me�t�acree. Zf at any time and for any reason the funds de�a�.ited
<br /> w�,t-i� l�ort�ar�e are or will be insufficient to pay such amou�ts as �� 'i°
<br /> r�ay then or �.��3sQquentl� be due, Mortcagee shall notify Mortgagcr �±
<br /> and Mort��3�� si�all ir�urt�diately depo�i� an amount e:c��31 to such
<br /> deficiency wi�iz Nartgagee. Notwithstanding the forego�ng, , �
<br /> nothing contair��c3 herein shall cause Mortgag� to be obligated to ��'
<br /> pay any amounts zn excess of the amount of fu�ds depositec] a�.�th � �
<br /> , Mortgagee pursuant to this Article 5. Mortgagee may commingl.e .
<br /> suc?n funds with its own funas, and Mart�s�agor shall be entit�.ed to
<br /> no interest thereon. Upon Mortgagoz�s cure of the foregoinr�
<br /> Event of Default, Mortgagee shall, at its option, either �is
<br /> r��a�rn all unexpenc3ed funds (without interest) to Mortgagor for
<br /> ��a�.�ent csE Mortgagor�s obligations under thi� Article S or
<br /> G s.i} apy��� the unexpend�a funds to any or a13. of the foregoing
<br /> -. U��Is cr statemani�s tilat are due and payabl� �nd return any
<br /> r�naining fund� 1:� Mortgagor. Should Mortgag��r fail to deposit
<br /> wf;�:n Mort.�gagee sums sufficient to pay such Impositions in full at
<br /> least thi�ty (30) days before the due date thereof, Mortgagee
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