80006902 - Laserfiche WebLink

Browse

-s- Mortgagor grill not permit any mzchanics' mntractox's, materiai- man's, subcontractor's, laborers', statutory ar other similar lien to be created or to remain art standing upon the ucrtgaged property or any part thereof, and Mortgagor warrants that it will indemnify and hold harmless the Mortgagee from aid against all such liens and any and all expenses and fees incurred by Mortgagee in connection therewith. Provided that potting o~ntained in this Section 1.08 requires the Mortgagor to pay, acquire ar-make pro- vision £ar any such tax, assessment. lien ar charge so long as the Mortgagor in good faith shall mutest the validity thereof, and security for the payment of the same, satisfactory to the Mortgagee, steal1 be furnished to Mortgagee ~ shall retain such security fur payment of such tax, assessment, Lien ar dzarge without liability for interest thereon. Mortgagor will promptly deliver t~ the Mortgagee receipts evidenciag this prompt pay- ment o£ all such taxes, assessments, levies and other public charges. Section 1.04. Mort a ee's Ri ht to Act. Mortgagor agrees that, if it fails to perform any act i it is required to per- form hereunder, or to pap any money which it is required bo pay hereunder, the Mortgages may, but small rot be obligated to, perform or cause to be performed such act and may pay such money and any expenses thereby incurred by the Mortgagee, and any smney so paid shall be an obligation immediately crying by Mortgagor without demand and shall bear interest at the rate contained in the Note, from the date of making such payment until paid and shall be part of the obligations hereby secured, and the Mort- gagee making such payment shall be ,subrogated tv all of the rights of the person receiving such payment. Section i. 10. A. Insurance R~fired_. Morgagor covenants to keep any and all boil ingc~'-""~ e=ecte~ ~^ the mortgaged oragerty insured against loss or damage by fire and the risks embraced within the term Fextesd°d coverage"` in such gaunt or amounts as the Mort- gages may require and +nsured against such other hazards acrd risks asxi in such anacaunts as ray be reasonably required by the Mortgagee iri such insurance company or companies as the Mortgagee may approve. Section 1.11. Condemnation. Should any part of the mortgaged psogerty kae taken by exercise o the power o€ eminent domain or condemnation or should any governmental body at any time exercise any right which it may have to rurchase any part of the mortgaged property, the Mortgagee Lyon request of the Mortgagor shall release that Dart of the mortgaged property so taken or purchased and shall be fully protected in cuing so upon being furnished with an opinion of counsel iwho rct3y be asunsei for the Mortgagor) to the ?#fect that such part of the mortgaged property has been taken by the exercise of the power of sninent c}~nain or condemnation or pur- cisaseci b~ a governmental body in the exercise of the right which it had to purchase the same (specifying the aoount of the award made therein) . Cash equal to the anotuot of such award or the sale price of such property shall be paid to either the Mortgagee or *~=~ C~ri:~.l 'tational Ba,°sk e~id Trust Co, prior txr ar c~ncurrentiy with delivery by it of such release. Any ncaniea received by the Mortgagee by reason of the exercise of the power of eminent domain or condemnation with resgar_t hx any part of the tmrtgaged property shall bs ~rlied against the Note in the manner determined by the Mbrtgagee. section 1.12. Lease Modi£icatians. The Mortgagor will rut, svathaert prior um tten amsent o Mortgagee, terminate or oon~aent to the oancallatian ar surrender of any lease of the mortgaged p~PertY. or $+Y part titereaf, :xaw existing ar hereafter made, or modify ~y such lease sa as iza shorten the unexpired tares thereof or sa as ~ decrease tfie ausount of rants payable tt~reundar or accept pasynts of ~y installments of rent tr.~ 1?es=true c~34 ssuTar ~xCh lases for a period of more than one month to advance= I4rirtgager will cot es~ceetste any lease of any portion