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<br />6. That al the option of the :Mortgagor the principal balance secured hereby may be renmortized on terms acceptable
<br />to the .4ortgagee ijp partial prepayment results from an award in.~condernnatinn in accordance with provisions of /wragraph 8
<br />herein, or from an insurance payment made in accordance with provisions of para;raph i herein, where there u a resulting
<br />taus of project income;
<br />i. That the :4ortgagor will keep the improvements now existing or hereafter erected on the mortgaged property
<br />insured against 1ou by fire anc7 such other hnzanls, cas:udtirs, and contingrnci,~s, as nup~ be atipalaterl Ly the M1lortFaFre, end
<br />a1/such insurance shall be evidenced 6y standard Fire artd Extended Coverage lruurance Policy or policies, in amounts not
<br />t-v than necessary [o comply with the applicable Cainsurartce Clause percentage, Gut in nn Brent shall the amounts n/
<br />coverage be Iess than eighty per certain (Btt,°'oJ of the insurable values or oat Less than the uhpaid balance aj the, :4ortgage,
<br />whichever b the lesser, and in idefaulT thereof the :Mortgagee shat! have the right to effect insurance. Such policies shell 6e
<br />endorsed with standcrd.4tortgngee Clause with Loss payable to the Mortgagee, as interest moy appear, and that! 6e deposited
<br />with the Afartgagee;
<br />That if the premises covered hereby, or any part thereof, shot( 6e damaged 6y fire or other hazard agairut ehirh
<br />iruuronce u held ar hercimbove provided, the amounts paid by any insurance company, to the extent of the indebtednen then
<br />remain(ng untwid, shall be paid to the .Mortgagee, ard, at his/her option, moy Le applied to the debt or released for the repairing
<br />or rebuilding of the premises;
<br />8. That all swords of damages in connection with any condemnation for public use or to jury to ony of said property
<br />are hereby auigned and shalt be paid to .Mortgagee, who may apply the name to payment of the inataflmenG last due under
<br />raid Hots, and Mortgagee is hereby authorized, in the name ojldortgagor, to esecute and deliver validacquittartces thereof
<br />and to apptat from any such award;
<br />9. That it is lawfully seised and possessed of .mid real estate in fee simple and has gcaod right to convey some;
<br />10. To keep said premuu in good repair, and not k, do, or permit to be done, upon said premises, anything that may
<br />impair the value thereof, or of the security intended to be effected by virtue of this instrument: that it will not make ony
<br />strueturalalterations to the building without the written cogent of the M1lortgagee: to pay to the Mortgagee, as hereinafter
<br />provided, unfit said note u fully paid, a sum sufficient In pay aft taxes and special asacssrtvnts that hv_retofore or hereafter
<br />may be bwfu!-y levied, auused or imposed 6y any lasing body upon the said tan d, or upon the ;lfortgagor or Mortgagee on
<br />account of the ownership thereof to the extent that provision has not been made b~ the :4ortgagor for the payment of such
<br />lases andspeciat ouusments as hereimfter providtd in subparagraph 1'fbj:
<br />11. In case of the refusal or neefect of the .Mortgagor to make such payments, or to satisfy arse prior lien or encum-
<br />brances, or to keep said premises in good repair, the .4ortgagee moy pay such taxes, assessments, and insurance premiums,
<br />when due, and may make ruck repairs to the proper!}- herein mortgnged as in the :Mortgagee i discretion he/she may deem
<br />nacessary far the proper preservation thereof, and any moneys so paid or expended shall become so much additional indebt-
<br />edneu, ucurecs by Chit .Mortgage, to be paid out of the proceeds of the sale of the mortgnged premises, if not otherwise paid
<br />by the Mortgagor, and shat! bear interut at the rate specified in the note from the date of adoance until paid, and shall be
<br />due andpayable on demand;
<br />12. It u expreuly provided, however (ail otherprovirions of this hfortgage [o the contrary natu:iths!anding), that
<br />the Mortgagee shall not be required nor shall heJshe have the right to pay, discharge, or remove any tar, anseument, or tax
<br />Gen upon or against the premise described herein or any part thereof or the improvemenu situated thereon, so long as the
<br />Mortgagor rhnll, in good faith, contut the saint or the validity thereof by appropriate legal proceedings brought in a court of
<br />comlxiswt jurisdiction, tuhieh shalt operate to pretxnt the collection of the tax, aueument, or lien to conttated and the sale
<br />or farfriturc aj the said premises ar any part thtrtaf to satisfy the swine, but in the event of a tar can tut, the Mortgagor sltatl
<br />deposit milk the Mortgagee on amount utimoted br the -Mortgagee sufftcient to satisfy nil tares, penalties, interut, and co:u
<br />tahich mayreosombly accrue duringsach contut;
<br />13. That it will +.ot uoluntardy create or permit to be created rtgainst the property subject to this hfortgnge ony lien
<br />or liens in jtsior ar superior to the Gen of this lortgage and further that it wit! keep and maintain the same free from the
<br />claim of alt persona supplying kbor or materials which wilt enter into the construction of any and aft buildings now being
<br />erected or to be erected on said premises;
<br />14. That tht improvements about to be made upon the premises above described and all plans and specifications
<br />comply with all municipal ardinonres and reguatinns made or promulgated by lawful authority, and that the same wit! upon
<br />eumpletian comply with alt such municipal ordinances and regulations and with the rules of applicable fire rating ar inspection
<br />organisation, bureau, association, or office. In the evert[ the .Mortgagor shall at any time fait to comply with ouch rules, rrgu~
<br />latiotls, end ordinances u:hich are naw or nurv hereafter becorru applicable to the premises above described, after due notice
<br />and dttna»d by the .tiostgage€, thereupon the principal sum and alt arrears of interest an 1 other charger procided for herein,
<br />shalt at 6ht option of the Mortgagee become due and payable;
<br />IS. The Mortgagor eonerwnL ond,~greu that so long as this 5lvrtgage and the wid note secured hereby ore outstanding,
<br />it mitt oat esecute or file Jar record any instrument which imposes a restriction upon the sale or occupanc}' of the mortgaged
<br />prop<rtr as the basis of ;ace, calar or tu-eed;
<br />tfs. That the funds to be advanced herein are to be used in the cowtncetion of certain improvements on the lands
<br />herein ducribed, ip accordance with a building loan agreement between the Mortgagor and Mortgagee dated MdY 16 , ,
<br />14 79 ,which building lava agrament (except such apes or parts thereof as may be fnconsiatentherewieh) is incorporated
<br />heron by rejertact to the mine estrnt cad effect as if fatty set forth and made a part of this A}ortgage; and if the construction
<br />of tGe improvements la 6e mode pursuant to said but7dittg loan agreement that! not be carried on with reatonabte dtligance, or
<br />shall bt discotstatntd a! spy time far any reason other than strikes or lock-ouu, the Mortgagee, after jlttt notice to tht dortgagor
<br />usury subsaquent owntr, it htreby invested with fuRand complett authority to enter upon raid premises, employ watchmen !o
<br />protect such itaproatmanu from deprdation or injury and to pretense and prated the personal property therein, and to continue
<br />late 2 of ~ ayes
<br />r. IrtiA 2088-EH Juna 1876
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