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79-~ ~rtl~56U
<br />.11 Debts, obGgatiom and IiabiGti<s incurred by reason of any nation taken by the Mortgagee, as provided in this Paragraph, all
<br />of which amounts so paid by the htortgagre, with interne thzrenn from the date of each such payment, at the rate of thrtr percrnt
<br />O7) per annum, shall 6c payable by the Atortgagur to the lztortgagcc nn demand anJ shad be secured 6y this Mortgage.
<br />~. No building or other structure or improvement, fixture nr prrsnnal property mortgaged herttbp shalt ht removed or
<br />dcmolisheD without the prior written conser-t of the Afortgaga e. The Isfortgagor will u,:t make, permit or suffer any tltetation of
<br />of addition to any building of other structure of improvement Wax or which may htrnftrs be ercdrd or installed upon the
<br />mortgaged property, or any pert thereof, rxccpt the improvements ceyuirrcl a, he madr pursuant to Paragraph 3 hertoF, nor
<br />will Iht Aortgagor use, or permit ,v suffer rhr use nf, any of the mnrtgag<~d property for any purpose other than the purpox
<br />or purposes (or which the same is now intended m be used, without the prior written consent of the Martgagee. The Mortgagor will
<br />maintain the mortgaged property in good condition-and sC+tr of repair and will nut suffer or permit any vaztt to any part thereof, and
<br />will promptly comply with ail the requirements of Frdrnl, sate anJ luczl gnvcrnmrnts, ur of am departments, divisions or
<br />bureaus thereof, per;wining to such property or any part therm(.
<br />5. The Mortgagor viii not voluntarily create, nr permit or suffer ;n he created or tr. exist, nn or against Iht mortgaged
<br />proprrty, or any part thereof, any lien svpenor in the lien a{ this Afnrtgagr, exclusive of the lirn or urns, if any, to which
<br />this Tfottgagt is expr<ssly subject, as set forth in the granting Amt<t shove, and will keep and maintain the samt free from
<br />the claims of all parties svpp!}•ing !ahnr or material: which will cntrr into rhr ronatnrrtiors ar installation of the Improvements.
<br />6. (a) The Mortgagor will krcp alt buildings, cthu strurh:rrs and imprnvementc, including equipment, now existing or
<br />which mar hrrufter he errrtnl n: imtal4d on tht land mortgaged hrrehs-, i surrD against Ims by fire and other huarda,
<br />casualties wad rontingrncirc, in such amounts .and manner. and fur such pain<?s, a!1 as may be required From time to time 6y
<br />the Mortgagee. t'nics: otherwise req.rircd h}• the Afortgagce, all such insuramc shall he r(fraeJ by Stmdard Fire and Eztended
<br />Coverage Insurance po Lrits, in amounts rant fens than ntcrssuy to rn r.:nly w+th the minsunnce clause percrntage of the value
<br />applicable to the Txation and charartrr of the pmnerty to hr ,nvercd All <u<h inwrance ehall he nrrird in companies approved
<br />M' for Mnttgagre and all politics therefor shall be in su:h form and <hal! have area, hrd thereto Inns psyabie Anuses in favor of fire
<br />Afartgagrc anal soy other putics ac zha!1 he vtishc~~~y to the Dtnrtgagce..1tf weh puke iec and attarhmenK thereto shall, ht delivered
<br />promptly to the Dortgagee, unless they arc rcyuirrd to he drliva~rrd to :hr holder of a lien of a mortgage or similar instrv-
<br />ment to wbiah !his Mortgage is r:ptr<sh s:birrt, m w-hi<h latter carne c,•niti.at,. iF.cre~~f, sari+fartnry to the Mortgagee, shall be
<br />delivered promptly [o the Atoztga err. The Mortgagor w~nl par prampta• when due, as brrrinaftrr provideJ, and any and ell
<br />prrmwms nn such insurance, and in terry rase in sc~hich parmrnt thrrr.~f is rant r.a.!c from rhr drpnsits therefor rcyuireal by this
<br />Mortga;e, p:nmptly submit [o rhr D4xtgagce fo: c:amination rr, rich or n:her evidence nI suah payment as shat! bt satisfactory
<br />to the binrtga trt •Ilrt Martgagee cons rhea in and car tltr prrmiurn nn (hut sha^ ht under nn obligation to do so) every kind p(
<br />insuranrt tryuirrd hereby if the amount of such rrem,inm hoc rant t+rrn drpmilyd ac required by this Mortgage, in which event
<br />the Mortgaget will pay to rhr Dfortgaget evttv premium sn paid by the Dfortgagte.
<br />(b) In ih< event of loss nr damage tJ the mnas:agrd prepet,v !hc *fnrtgagnt will girt to the Martgagee immediate notice
<br />ihrteof by mail, and the Dlnctgagrr mar :Hake and file proof of In« if not madr nthtrmiu prnmptfy by of on brhal( of the
<br />Mnriga gat. Esrh insurance cnmparsy issuing any <uch pn;ity is hrrefzv .nat~,:ri: ed and dire trd to make payment hereunder for
<br />sorb }ass 3irerNy In the Atortgagtc instnd of to the I`'i nr±gagor ,nd rhr Mortgagee ioint!r, untnc the amount of Insz is pa)-
<br />ablr first m !hr holder o{ a ;irn ender a coo: tgagt or simihr loci run~,rnt to aa•hi+B this Mortgage is ex ptessly subject; acrd the
<br />insuranrt pro, crds of any part thera+f is received ''.y the Mnrtga ¢et r^..+v hr applied bT rhr Mortgagee, ^t its npii.-n, either
<br />in rtdnrtian of the indebtcdnesz Bctrby serurrd. nc to the rnmrato~rt ~: rrpaic of the c:nrtgaged property Damaged. In
<br />the event of foreclosure of this Mortgage- or of an ~ transfer of tirlr n: th- r.,.,rgzgrd pmpear in extinguizhmcu of sutfi indebt-
<br />edness.:Il right, title and intrust of the Mortgagor in and to ree;v sa: t. r„s,:nnar palo-y then in fnrcq subject to rhr tights
<br />anv' interttt of the holder of anv weh p nr tiers. shall pas< ro the gra^tec .-~<qu:;ing ti!lr to rhr mortgaged property together with
<br />sash polity and appropriaft assignmcnt,nf <uc6 rigfit, title and infant <s h;~.h ahail he :Wade by the Mortg:gor-
<br />7. (a) In order more fu!!y M pnatc.f rhr srruriry of this Mot: vac:, ;',r Aturtgagnr shall deposit with the Martgagot to-
<br />gether with, snD in addition to, the paver-ni u( principal and interest mon+`:!y ,.. ;Hunt of the Nott xturrd hereby, until
<br />!hc Natt is paid in full- an amount of :nonce equal to rhr total amount of (:1 gerund arcnrc :f anv, next becoming due, (ii) rhr
<br />prrmfums next hemming due on rhr policies of tiro and ail other ha:_rd :nwr.mc regal: ed by this Mortgage with respect to rhr
<br />martgagrd proprrty, (iii) taus, as.escrrxnts, rater rates and other g„s c:nmrr.tal cfra rgr< na st heramfng due on the mortgaged
<br />prnperte tart the foregoing amounts as nti mates! by rhr MOfiga gfr a~<? art forth m a writtan .--,tire of such estimate by the
<br />Mnrtga gee to rhr Maregagnr from time to time), less as amounts that cons' alma dr have horn p.+i.i ;Bcrefor, divided by the number
<br />of r:Erndar rrsnnins io elapse brfn:c one oil cndat month prior ro the date sb,n such Rround rents, premiums, tuts, assess-
<br />mrnt~, water rates and other govrrmnrntaf :Barges. respetNadr, wal f-rr+::rr d„r and payable li any amount crfr:rtd !o is
<br />.,as;zes (i) tkrcugh Gii) hereof is rrquizcd to -tsa dcpocitc3 67 the Mortgagor under a mortgage or simiLr instru+nrnt baring
<br />priority over the lien ni this Mnrtgagr rise Afortgagnr shall make the dep.+<..< rryuurd hr chi: Pa raga ph 7 only in rhr event of the
<br />termination of tuth obligation under the prior mnrtgagr nr vmilar ios7 n.mrnt Thr Mnrtga gar shall give prompt notice in writ-
<br />ing to the Atortgs}ttt of tM otrorrenrt of the last~mrntirned rvrn! Alf sm', am„ones sa 3ep<xitrd with the Mortgagee shalt be
<br />held by the bortgagee, ar any agent dtsignurJ by $- in trust to lx usad ,cote !: ~ tl:v payment nE sneh gznunJ rt.^.ts, premiums,
<br />taZet, atatttmentt. F']$r rates and other t:wtrn:nrntal charges. Nn interrat shat; be payihle by ihr Martgagee un any sum to
<br />deposited.
<br />(b) 1111 amounts rrquirtd to be .:rpnsitrd within the Martgagee mnrrhly in attnrdan<t with Paragraph lft) hereof, and die
<br />amount of prinaipal and interest to lest pai.i ra,B mirth nn account a/ the ?:,:tc .hall be added together, and the aggugare amount
<br />[hrrenf shall be pod by the Afortga ROr !n ihr Mortgagee in t vnglc pat corn! i„ be applied by the Mn[tgagte on icmunt of rhr
<br />indcbtr~ncss of the Mnrigaga-, i ursuani m the Nntr and this hfnrtgagr fro the eztcat that monies are avaiiabio from the
<br />amannt so depczitrd)- in the :; der, :av provision al rhr Noe to tht anntra rv notwithstanding, as follows:
<br />FAST, to :be tart thargcs, if anv. mfrs:ed to in rhr Nott; -
<br />SECOA'D, to the amount of such ground tents, if any, fire and athrr ha>srd incunnce premium[, Tazr:, assessments, water
<br />r:trs std athrt governmenui rharrrrs rtgvrtd m he paid undre ttse provisions of this Mortgage, in whatever uqumce fpe
<br />Mortgagee may eulusfrciy dctrrmiar, -
<br />THIRD, to interest dot nn the Nate; and
<br />FOURTFf, the remainder, to rhr printipa! dot an ihr Nnte.
<br />Ary defirienry in the amount of any sorb aggregate monthly paymtn; shaft, unlen paid by the Mortgagor prior to the due daft of
<br />[he next weh deposit payable, constitute an agent of default ender this Dfactgagt.
<br />(c) Any excess {ands that may 1st arrumntated by reason of the drpecitc required under Paragraph 7(a) hereof, remaining
<br />after payment of rhr amounts dezcribrd in clauus (i). (ii) and (iu) [hrrenf, shall be rrrditrd to wbcequent respectivE monthly
<br />amounts of the amt nature requirtd to be pail therrunaln. !f any such ;mount shall errrrd the estimate therefor, rhr Mortgagor
<br />s.ha8 forthwiUt pay to the Mortgages for smrunt of such drfitieacy upon a<•ntirn nontr by the Mortttagre of the amount thrztof.
<br />Failure to do so befa:c rhr due date of sorb amount shaft he an rv • of drfaatt under this Mortgage. It tht mortgaged prop-
<br />erty is sold under foreclosure or is athcrviu acgaited by the Mortgagee, afar default by the Mortgagor, any remaining
<br />balance of the aicumufations under Paragraph 7(a} hereof, shall bt reedited to the principal amount owing nn the Note as of the
<br />date of coasmrncemeot of foreclosure proceedings for tM mart;aged property, or a: of the date the mortgaged property is
<br />otherwise sa acquired.
<br />8. The Improrrmmta and alt pfd ns and sperifiations there{or shall comply with a!I applicable municipal o[diruntts, regu-
<br />lations, and rules made of promulgated by {awful authority, and upon their completion shall comply thaevkh.
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