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85005403
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Last modified
10/18/2011 2:41:43 AM
Creation date
4/1/2008 5:16:39 PM
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DEEDS
Inst Number
85005403
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r <br />jo <br />85-- 005403 <br />enable the Mortgagee to pay such taxes, assessments or other <br />charges as they become due. <br />4. Insurance. To keep the improvements now or hereafter <br />located on the real estate described herein insured against damage <br />by fire and such other hazards as Mortgagee may require. in <br />amounts and with companies acceptable to the Mortgagee, and with <br />loss payable to the Mortgagee. In case of loss under such <br />policies the Mortgagee is authorized to adjust, collect and <br />compromise. in its discretion, all claims thereunder at its sole <br />option, authorized to either apply the proceeds to the <br />restoration of the Property or upon the indebtedness secured <br />hereby. but payments hereunder shall continue until the sums <br />secured hereby are paid in full. <br />5. Repair. Maintenance and Use. To promptly repair. restore <br />or rebuild any buildings or improvements now or hereafter on the <br />Property: to keep the Property in good condition and repair. <br />without waste, and free from mechanic's or other liens not <br />expressly subordinated to the lien hereof: not to make. suffer or <br />permit any nuisance to exist. nor to diminish or impair the value <br />of the Property by any act or omission to act: and to comply with <br />all requirements of law within respect to the Property: not to make <br />structural changes or additions to the Property without prior <br />written consent of the Mortgagee. <br />6. Condemnation. In the event the Property, or any part <br />thereof, shall be taken by eminent domain, the Mortgagee is <br />empowered to collect and receive all compensation which may be <br />paid for any property taken or for dames to property not taken. <br />and Mortgagee shall apply such compensation. at its option. either <br />to a reduction of the indebtedness secured hereby or to repair <br />and restore the property so damaged. <br />7. Performance by Mortgagee. Mortgagee may, but shall have <br />no obligation, to do any act which the Mortgagor has agree but <br />fails to do, and Mortgagee may also do any act it deems necessary <br />to protect the lien hereof. Mortgagor agrees to repay, upon <br />demand. any sums so expended by the Mortgagee for the above <br />purposes. d- Br+ y- ewr► s- se+- exPere�- bY- ti +e-MFor�b�egee- fo+-- tf�e�ber+re <br />,►cp�585. and any sums so expended by the Mortgagee shall be added <br />to the indebtedness secured hereby and become subject to the lien <br />hereof. Mortgagee shall not incur any personal liability because <br />of anything it may do or omit to do hereunder. <br />B. Default. Time is of the essence hereof, and upon <br />Mortgagor's default in any covenant or agreement of this Mortgage. <br />Including covenants to pay when due the sums secured by this <br />Mortgage. the Mortgagee shall be entitled, at its sole option and <br />L� <br />
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