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V3857-L - 9/15/80 <br />~~~~~~~~ <br />Property given by Mortgagor to Superior Mortgagee; and (ii} <br />that certain second mortgage promissory note of even date <br />herewith in the original principal amount of $700,Od0 given <br />by Mortgagor to Superior Mortgagee, which note is secured by <br />a secc+nd mortgage of even date therewith on the Property given <br />by Mortgagor to Superior Mortgagee. "Superior Mortgages" shall <br />also ref e: to any increases, refinancings- replacements, <br />extensions and modifications of either or loth of the Superior <br />Mortgages, and this Mortgage shall be subject and sulnrdinate <br />to such increased, re€inanced, replaced, extended ar modified <br />Superior Mortgages, su bject to compliance by Mortgagor with the <br />provisions of Mortgagor's Agreement of Limited Partnership <br />requiring that certain proceeds of refinancings of the Superior <br />Mortgages be used in reduction of the indebtedness secured <br />hereby . <br />9. Insurance <br />Mortgagor agrees to keep the Property insured with <br />extended coverage against loss or damage by fire and against <br />other risks or hazard in the amount, with companies and in <br />the form as may be required by Superior Mortgagee. Mortgagee <br />shall bs a named insured under such insurance. Losses under <br />a21 such insurance shall be pays ble to Mortgagee, su bject to <br />Superior Mortgagee's rights thereto. Mortgagor shall deliver <br />to Mortgagee copies of the policies of insurance and receipts <br />#or the payRents of prcaiums thereon and for renewals thereof. <br />1111 insurance policies shall contain a provision requiring at <br />least 30 days notice to Mortgagee prior to any cancellation or <br />~wdificatian. <br />r~ <br /> <br />{_... <br />