202106436 - Laserfiche WebLink

Browse

242106436 A. removing or demolishing any building now or later erected on the premises; B. altering the arrangement, design or structural character of it; C. making any repairs which involve the removal of structural parts or the exposure of the interior of the building to the elements; D. cutting or removing or permitting the cutting and removal of any trees or timber on the mortgaged property; E. removing or exchanging any tangible personal property which is part of the mortgaged property; or F. entering into or modifying any leases of the mortgaged property. SECTION SEVEN. PRESERVATION AND MAINTENANCE OF PROPERTY To maintain the mortgaged property in good condition and repair, including but not limited to the making of any repairs as mortgagee may from time to time determine to be necessary for the preservation of the mortgaged property and to not commit or permit any waste. Mortgagee shall have the right to inspect the mortgaged property on reasonable notice to mortgagor. SECTION EIGHT. COMPLIANCE WITH LAWS To comply with all laws, ordinances, regulations, covenants, conditions and restrictions affecting the mortgaged property, and not to cause or permit any violation of them. SECTION NINE. PAYMENT BY MORTGAGEE; SUBROGATION If mortgagor fails to pay any claim, lien or encumbrance which is superior to this mortgage, or when due, any tax or assessment of insurance premium, or to keep the mortgaged property in repair, or commits or permits waste, or if there is commenced any action or proceeding affecting the mortgaged property or the title to it, or the interest of mortgagee in it, including, but not limited to, eminent domain and bankruptcy or reorganization proceedings, then mortgagee, at its option, may pay the claim, lien, encumbrance, tax, assessment or premium, with right of subrogation. In addition, mortgagee may make the repairs and take any steps as it deems advisable to prevent or cure the waste, and may appear in any such action or proceeding and retain counsel, and take any action as mortgagee deems advisable. For any of these purposes mortgagee may advance any sums of money, including all costs, reasonable attomey's fees and other items of expense as it deems necessary. Mortgagee shall be the sole judge of the legality, validity and priority of any such claim, lien, encumbrance, tax, assessment and premium and of the amount necessary to be paid in satisfaction of it. Mortgagee shall not be held accountable for any delay in making any such payment, which may result in any additional interest, costs, charges, expenses or otherwise. SECTION TEN. MONEYS ADVANCED TO PROTECT SECURITY Mortgagor will pay to mortgagee, immediately and without demand, all sums of money advanced by mortgagee to protect the security pursuant to this mortgage, including all costs, reasonable attorney's 4