85001169 - Laserfiche WebLink

Browse

s5- -oolis9 be assigned without consent of First Party, and First Party authorizes Second Party to assign said policies to the purchaser or purchasers at or after such foreclosure sale, or if Second Party elects so to do, Second Party may collect any unearned pre- miums and apply the same on the obligation secured hereby; (3) First Party will protect, save harmless and indemnify Second Party from and against any and all claims, liabilities, costs and expenses, of whatever nature, which may arise or re- sult, directly or indirectly, by reason of the use or occupation Of the Mortgaged Property or any part thereof; (9) First Party will at all times keep the Mortgaged Property and every part thereof in good repair and condition, without any liability of Second Party to any person for damage for failure to repair or for any other cause, and First Party will from time to time make all needful and proper repairs, restorations, renewals and replacements thereof, so that at all times the value of the security and the efficiency of the Mortgaged Property and every part thereof shall be fully pre- served and maintained, and First Party will not permit or allow the Mortgaged Proeprty, or any part thereof, to depreciate in value by any act or neglect, nor cause or suffer any waste; (13) First Party will not use or Mortgaged Property or any part thereof inrany manneruinconsistent with the rights of Second Party, or in violation of the provi- sions of any insurance policy or any rules or regulations of insurance underwriters, and in the use of said Mortgaged Property will comply with, or cause to be complied with, all valid laws, ordinances, rules, regulations, orders and direct' ons of any legislative, executive, administrative or judicial body, officer or department applicable to the Mortgaged Property or to the uses and purposes thereof, and will maintain and use the Mortgaged Property in full compliance therewith and in condition requisite thereunto; (11) In the event the Mortgaged Property, or any part thereof, be taken through condemnation proceedings or by virtue of the exercise of the right of eminent domain or pursuant to governmental. action, any and all amounts awarded in any such con- demnation proceeding for the taking of the Mortgaged Property, any part thereof, are hereby assigned to and small be paid to or Second Party, and when received by Second Party, after deducting all reasonable charges in connection with the collection thereof, the same may be applied as in the case of insurance proceeds under (7)(:3) above; (12) In the event any part of the Mortgage Property or any additions, betterments, substitutions or replacements shall be destroyed or damaged by any party or from any cause . vhereby First Party is entitled to indemnity therefor from any third person or -6- n: d 9 __J