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200204303
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Last modified
10/14/2011 8:59:56 PM
Creation date
10/22/2005 7:04:44 PM
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DEEDS
Inst Number
200204303
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200204303 <br />CPetinn 1 1 Z <br />If Mortgagor shall fail to observe, comply with, or perform any of the terms, covenants and <br />conditions herein with respect to the procuring and delivery of insurance, the payment of <br />Impositions or Liens, the keeping of the Mortgaged Property in repair, the furnishing of financial <br />statements, parochial reports, annual reports including the treasurer's reports and committee <br />reports, the removal and/or disposal of Hazardous Substances, or any other term, covenant or <br />condition herein or in the Note contained, Mortgagee may itself observe, comply with or perform <br />the same, may make such advances to observe, comply with or perform the same as Mortgagee <br />shall deem appropriate, and may enter the Mortgaged Property for the purpose of observing, <br />complying with and performing any such term, covenant or condition. Mortgagee may expend <br />such sums, including attorneys' fees (prior to trial, at trial and on appeal), to sustain the lien of <br />this Mortgage or its priority, or to protect or enforce its rights hereunder, or to obtain the right to <br />enforce its right and remedies hereunder, including the payment of any Liens, claims and <br />encumbrances, other than Permitted Encumbrances which are not in default, as it may deem <br />desirable. Mortgagor agrees to repay all sums so advanced or expended upon demand, with <br />interest thereon from the date of advancement or expenditure, and all sums so advanced or <br />expended, with interest, shall be secured hereby, but no such advance or expenditure shall be <br />deemed to relieve Mortgagor from any default hereunder. Mortgagee shall not be bound to <br />inquire into the validity of any Imposition or Lien which Mortgagor has not given notice to <br />Mortgagee of its intention to contest in accordance with the terms hereof. All sums paid by <br />Mortgagee for the purposes herein authorized, or authorized by any Loan Document shall be <br />considered additional advances made under the Note and pursuant to this Instrument and shall be <br />secured by this Instrument with the proviso that the aggregate amount of the indebtedness <br />secured hereby together with all such additional sums advanced shall not exceed two hundred <br />(200 %) percent of the amount of the original indebtedness secured hereby. <br />Article II <br />RPetinn 1 1 <br />Condemnation <br />In case of a taking as a result of or in lieu of or in anticipation of the exercise of the right of <br />condemnation of eminent domain, of all or any part of the Mortgaged Property, or the <br />commencement of any proceedings or negotiations which might result in such a taking, the <br />Mortgagor shall promptly give the Mortgagee written notice thereof. Should any of the <br />Mortgaged Premises be taken by exercise of the power of eminent domain, or sold by private <br />sale in lieu thereof, Mortgagor hereby irrevocably assigns, sets over and transfers to Mortgagee <br />any award, payment or other consideration for the property so taken or sold, and the same shall <br />be applied, at the option of the Mortgagee, first to the payment of costs and expenses and then <br />either to the reduction of the indebtedness due hereunder or to the restoration of the property. <br />10 <br />
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