|
~~-~°[~c~~~7~
<br />(3j To pay it~rediately when due and payable all general. eaxes,
<br />special taxes, special assessments, water charges, sewer sen~ice charges,
<br />and other taxes and charges against said prep=arty and to furnish the :tortpa-
<br />ge~ upon request with duplicate receipts therefor.. Any default under this
<br />paragraph shall be deemed a default in gavr:ent of taxes, assessments ar simi-
<br />lar charges required Hereunder.
<br />(4) To procure, deliver ta, and maintain for the benefit of the
<br />Mortgagee during the life of this Mortgage original policies and rene--ovals
<br />thereof, delivered at least 10 days before the expiration of any suLh pe~licies,
<br />insuring against fire and other insurable hazards, caGUaltes, and contint,encir's
<br />as the Mortgagee may require, in ~;ernatnts and ir. compan.ies acceptable to the Mort-
<br />gagee, with loss payable to the Mortgagee. The coverage under such policies
<br />shall be limited to the improvements now ar hereafter erected on the ahove-
<br />described premises. In the event any policy is not renewed on or before 10
<br />days of iCS expiration, the Mortgagee may procure insurance on the improvements,
<br />pay the grernitatr therefor, and such sum shall become immediately due and payable
<br />with interest at the rate of 41.SQ _por cent until paid and shall be secured by
<br />this Mortgage. Failcere an the part of thr. Mart};agar to furnish such renr•wats
<br />as are herein required or failure to pay any sums advanced hereunder shall, at
<br />the option of the Mortgagee, constitute a default under the terms of this Mort-
<br />s;age. The delivent of such policies shall, in tiee event of default, constitute
<br />set assignment of the unearrned premium.
<br />Aeey sums received by the Mortgagee by reason of loss ur damage
<br />insured against may be retained by the Mortgagee and applied toward the payment
<br />of any obligations cf the Company to the Portgagee ox, at the option of the
<br />'~tartgagee, suoh sums either crttally or in part may be paid over to the Mortgagcr
<br />to be used to repair such Huildings or to build new buildings in their place
<br />or for any other purpose or object satisfactory to the Mortgagee without af-
<br />fecting [H~ Lien on the Mortgage far the full amount secured hereby before such
<br />pavrnent evez teak place.
<br />(5) Ta promptly repair, restore uz rebuild any buildings or improve-
<br />ments now ar hereafter un the premises which may be:-cme damaged or destroyt}d;
<br />to keep said premises i.n };ood candition and repair and free fr,~:n :+ny :.:+±cltanic`~;
<br />3r ut'rr><r lism or claim of lien nut expressly subordinatEd to t}:e lien tear€-oi;
<br />r,,•t to suffer or permit arty unlawful use c,f c.r :{ny nc:i~anee tc, rxi~t ~-.eic?
<br />}~rup~rty nor to prrtni.t war:Ce on 5a id pr~en?ise~, :~„r t~~ :t„ -u:y :~thc~r s.t ..ie,~re•hv
<br />the ,,rc,p~'rty h~reh}' <,•nve~'e<t sHail 1~~'~:~mc~ eery:, t':ei,,,s?~ie, :;.:r to :{t:;:i,~,t:,i: .~~
<br />i:,tpair .ts tua b~ :.n: set cr orrti:;slerst to set; .. ::~:,=1•: ~iitr 11 ;-t=r ...ear,..,
<br />.. < <.~~ ~~. ~~p~~t tc° ~- c- .z: _;,- ;- - prz-~:a~.~ c"{at~. . -- :s3~ ~-.,-rri;t .
<br />(ft) !hat ~hcnel~. th4 'r.~misex; nr ,in :° ~~:~t fherevi ~e t:~w+:n - c:.:r&ta ~;k..
<br />i e:,iav7i .S .s... .. u.,., _ i:'-1•[ ct .e.~c.a.. -=2 .....,..~:.il.=.= ., ., .`! • 4 ~€i. • is=, °§. ...... • ,.. f
<br />vll ~•=~mnnn~~t {=~s~_c_ ~xsar=rd.i _r„ui ~v.v ~~t her rzav~±nt i:r {icy+_ rl~~~r=-i n_r_ .: €_i_i? ~~t_~_ai l.i
<br />be_entii`ed ai`±C4 .:a[iun C+?9c+?trxnerr~e. a}_%c~ear in znd~nr~esecute in ir.c =,wrt ~r~r~-~
<br />any action ur proceeding, or to make arcs compromise nr settlement in connection
<br />with such taking or damage. Ali such compuna;ation, ;,wards, damages, rii;ht uE
<br />action and proceeds are hereby ast:ignel to the Mortgagee, who may after cieduc-
<br />ting therefrom ail its expenses. release any monies so received by it or apply
<br />the same on any indebtedness a';.'od by the Company to ;tortgagee. The Mortgagor
<br />agr4ea to Execute such further as=aignments of any eampensatlon, awards, damai,us,
<br />and rights of action and proceeds as the Mortgagee may require.
<br />(7) 't'hat in caxe of failure to perforsre any of the covenants herein,
<br />Chu Mortgagee may da un the MorCgagor's behalf everything su covenanted; [hai
<br />the Mortgagee m:{y :also du any act it trkty deem necrasary to protr~ct the. lion
<br />Hereof, that the Diurtgagur will repay upon demand any rnuniet3 paid or cli.,burscd
<br />toy the Mortgagee fs~r any of the above purposes, and such monies, together with
<br />intetraatt thereon, at the rate of 21.Sd par cant per annum. sh:{11 become so
<br />rnucH additional indebtedness hereby secured and may he lru•luded 1n .zny dcerce~
<br />foreclosing this murtpsge :end be paid ~,ut of the rents ,~r proceeds of ::.tti° nt
<br />said presnis~:s it not otherwise paid; that it rhalt. uoe be ablfgatury eepi,n th{'
<br />''lortgagesa k~+ in{tuire into the validity of any lien, encumbrauru.{, c,r c t.iim iu
<br />arivartcin~ monies as shave authorized, but nothini; herein cuntaiued shall he
<br />construed as requirixtg the Mortgagee to advance any munic:s far any such purpus+:,
<br />nor to do any act hereunder; and that Mortgagee' staall oat incur ctn±;' t~ur~,c,n.rl
<br />lialail.ity because of anyttring it :nay do ur omit to do hereunder.
<br />-2-
<br />
|