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<br /> ,reserving to the seller anq right, title os Iien. ' �
<br /> `• �� � SECTION 3.07. Insurance: Restotation of Damaged Mortgaged �
<br /> Frovertv: {ay The KortgagoY will at all times at its oLm expense maintain,
<br /> with a financial2y sound and reputab3s .insurer, prope;ty and casualty . � '
<br /> insurance (including fidelitq bonds) wfth res�ect to i�s propesties and �
<br /> business against such casualtfes and contingEa:ies �of such t�es and in such
<br /> aiaotmts as ttie Mortgage� reasonab2y detera��es is cus�a�a.ry sn th� case of any, ' , �
<br /> - � entity of established reputation engaged is� �$ saiae �r a similar business and - . •
<br /> . .' � nraaing si�ailar properties. The Mortgagor ss�il cause �� Mortgagee to be named .. . �
<br /> , as a co=insur�� on alI such insurance policn�s_ F"ne �iortgagar raill� u�a� .
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<br /> . .:.�.` rsqe:esr af tt:e.:Icrtgag�e, s,��f t s sch�du�� c� .it� ii�t��c�ce'�ii eErece uii .tlze :°'_ ._ . .,_ _ ..._.. -----
<br /> ---�-� ---- � ;- . date specified in sctc..as.-rei��st and s�rz�i�, ifc se� disec:ed by the Mortgagee. . � ` ,��.-,�. ' � -
<br /> submit a certificate_�g.its insurar�,z� �arerages. Lf the Mortgagvr sha�2 �t • � •
<br /> any ti�ae fail or re€:as� tm °ake aut ar maint�$:i irssurance ar to make c3��:�ges � � .
<br /> � in respect thereof upon agcr+apriate request by the Mortgagee. :he *�ortgagee ' .,
<br /> • � may take out_sucb insuraac�:��t behalf �a iA the name. of.the :�:o�i�a�iar, and _ ' • '
<br /> the Mortga�or wfll pay the aast �thereof.
<br /> (6) _ In the eeen� of daatage to �� the destructio� or loss of any �
<br /> portion of the Moirtgaged Prc�erty which sHag: be eovered by i:�.srsrance, unless °
<br /> the Mortgagee shall otherwise agree, the Mos�gagor shall repla�e or restore ' � '
<br /> . � such damaged� destroyed or lost portion so that the tiortgaged Frapert�r shall '
<br /> , be ir► substantially the �ame conditfan as it was in prior to sucb damage, ,
<br /> destructia� or loss� and shall apply the pro�eeds of the insurance for that . � -..;
<br /> Y purpose. ine Mortgagor shall replace the loss or shall commen�e �such � !��. �
<br /> �' restoration promptly after such damage, destruction oz loss shall have -
<br /> occurred and shall complete such repl�cement or restozation as expeditiously � , -
<br /> as practicable, and shall pay or cause to be paid out of the prooeeds of such � . �
<br /> insurance all costs 'and expenses in connectioa thesewfth so that such -
<br /> . replaeement or restoration shall be so completed tt�at the portion of the
<br /> Mortgaged Property so replaced or restored shall be fsee and`cl�ar of al.l • . � ;:
<br /> mechanics' liens and other claims. . � • ���
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<br /> � � SECTLQN 3.08. Mot_t�agee's Righ�to Ex�epd Money to Protect ' '�
<br /> Mortga¢ed Pro�ertv:, In the event of the £ailure of the Mortgagor in any �
<br />, � respect to comply s�ith the covenants and conditions hereia contained with ;- i :
<br /> respect to the pracuring of insurance, the payment of taxes. assessmeats aad • :�:'
<br /> � other cbarges, the keeping of the Mortgaged Propetty in repair and £ree of '
<br /> liens and other claims or to comply wLth any, other covenant ceAtained in this . , • ;�. .��
<br /> , Mortgage, Mortgagee shall have the right (wlthout prej udice ta �ny other , � .
<br /> rights arising by reason of such default) to advance or expend moneys for the � .
<br /> purpo�se of procuri.ng su�h insurance.. or £ar the paymert of ins+urance premiums.
<br /> taxes.. assessaents os other charges, or to sav� the Hortgaged Property from � �
<br /> sale or forfeiture for any, unpaid tax or assessmeat, or otherwise. or to � � � � •
<br /> ' redeem the same froa aay tax�r,r other sale, or 'to pu;chase aay tax title �
<br /> �- -- ---------�thereq�n�- or-..to remove�or purchase any mechaaics'� lien� or�other encumbrance-----------�--� --�--- - --�-- --� � -
<br /> thereon� or to regke repaira thereon or to comply with any other covenant �
<br /> . , herein con�ained or to prosecute or defend any suit in relation to the • �
<br /> Mortgaged Pto�.rrty or in any manner to protect the Mortgag�d Property and the `
<br /> title thereto� and all sums so advanced for any o£ �the aforesaid purposes wich ''
<br /> interest tbereon at .�he tate applfcable to loans.made by the Mortgagee to
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