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<br />~- 83-- 1)002;'6
<br />immediately prior to the casualty. In the event of foreclosure of this
<br />Mortgage or oilier transfer of title to the property covered hereby in
<br />extinguishment of the indebtedness secured hereby, all right, title and
<br />interest of the Mortgagor in and to any insurance policies then in force shall
<br />pass to the purchaser or grantee. ~
<br />5. To carry and maintain such liability and indemnity insurance
<br /><including, but without limitation to water damage and the so-called assumed
<br />and contractual liability coverage) as may be required from time to time by
<br />the Mortgagee in forms, amounts and with companies satisfactory to the
<br />Mortgagee. Certificates of such insurance premiums prepaid shall be
<br />deposited with the Mortgagee and shall contain provision for ten (1d) days
<br />notice to the Mortgagee prior to any modification or cancellation thereof.
<br />6. That no building or other improvement on the premises shall be
<br />altered, removed or demolished nor shall any fixtures or appliances on, in or
<br />about said buildings ar improvements be severed, removed, sold or mortgaged
<br />without the consent of Mortgagee and, in the event of the demolition or destruc-
<br />tion in whose or in part of any of the fixtures, chattels or articles or personal
<br />property covered hereby, Lhe same shall be replaced promptly by similar fixtures,
<br />chattels and articles of personal property at least in quality and condition as
<br />those replaced, free from any security interest in or encumbrance thereon or
<br />reservation of title thereto; to permit, commit or suffer no waste, impairment
<br />or deterioration of said mortgaged property or any part thereof; to keep and
<br />maintain said premises, and every part thereof, with buildings, fixtures,
<br />machinery and appurtenances in thorough repair and condition; to effect such
<br />repairs as Mortgagee may reasonably require and from time to time make all
<br />needful and proper replacements so that said buildings, fixtures, machinery
<br />and appurtenances will ai all times be in first class condition, fit and proper
<br />for the respective purposes for which they were originally erected or installed;
<br />to comply with ail statutes, orders, requirements or decrees relating to said
<br />premises by any Federal State or MuAicipal authority; to observe and comply
<br />with ail conditions and requirements necessary to preserve and extend any and
<br />a!i rights, licenses, permits (including, but not limited to, zoning variances,
<br />special exceptions and nonconforming uses), privileges, franchises and conces-
<br />sions which are applicable to the said premises or which have been granted to
<br />or contracted for by Mortgagor in connection with any existing or presently
<br />contemplated use of said premises; and to permit Mortgagee or its agenu, at
<br />ail reasonable times, to enter upon and inspect the mortgaged property.
<br />7. Thai the Mortgagor will not voluntarily create, or permit to be
<br />created or filed against Lhe property subject to this Mortgage, any mortgage
<br />lien or other lien (other than the Tien of nondetinquent real estate taxes or
<br />assessments) or liens inferior or superior to the lien of this Mortgage without
<br />the prior written consent of Mortgagee, which consent shalt not be unreasonably
<br />withheld, and further, that it will keep and maintain the same free from the
<br />claim of ail persons supplying labor or materials which will enter info the
<br />construction or repair of any and ail buildings now being erected, or which
<br />hereafter may be erected, an said premises, notwithstanding by whom such
<br />tabor or materials may have been contracted, and on the failure of the
<br />Mortgagor to perform these covenanu, or any part thereof, thereupon the
<br />principal and ail arrears of interest shall, ai the option of the Mortgagee, or
<br />any holder of the Note secured by the Mortgage, become due and payable,
<br />anything contained therein La the contrary notwithstanding. In the event
<br />that any person supplying labor or materials as aforesaid shall file any such
<br />claim, the Mortgagor shall not be deemed to be in default hereunder if
<br />(a) Mortgagor shaN,' at Mortgagor`s own cost and expense, within thirty (30)
<br />days after notice of such claim, either cause the same to be cancelled or
<br />discharged of record by bonding or otherwise; or (b) that Mortgagor shall
<br />have the right to contest the validity or amount of any such Lien or claimed
<br />lien if, within thirty (30} days after notice Mortgagor shall give Mortgagee
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