HomeMy WebLinkAbout0102~1pK ~~ FACE ~U~
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1)a\•11U•Ilt of the reu;uininr instttlluu•nt clue on the Vote in sttc'h order'
as tl_e ~lort};a};ee n-a~• (ictcrutine.
(c; ltt thf~ c\':•ttt that and' claim or lien i~ ttssertecl against the
~'es~cl t'or lo~•, (ianta~~e or espen~e \~•hiclt i• c(n•cre(i b}• insurance
rey~tired hereutxl~•1•, an;l it is n;~r(•a-u•v for tlu~ ;~hipo~t•ncr to ohtflin
a i..,nd or ~nl-1-l~• ;+ther s(•curit\• t., 1-re\'ent arrest of the ~•essel or to
release the ~•essel front arrest un tu•count. of such claim or lien, the
llurt~a~,re, un request of tote tihilu-tsner, nta~•, in the sole discretion
of thr \tortl;tt},*ee, assi!~n to an~• lx•rson, tutu or cur}~oration c~cc•uting
a surrt~- or guarantee hnnd or other a~reetuent to save ur release the
Vessel t•ront such l~rrest, all right, title lord interest ot• thellot•tt;agee
in and to s;ti(1 insurance cu\•ering said loss, datuage or e~ltense, as
collateral secut•ih• to ind~•uutit•~- at;ttinst liahilit~• tuulcr said Lond or
(t') '1'h(• ~ltiltm~•n;•r shall ltromhtl~• dc•li\•cr to the \lortgagee
the uri~;•inals uF nll cuv-er notes, hinders and lu-licies.
(~;) '!'h.- til-il,o~~~nc•r agrees that it \t-ilt_ not execute or lx•rmit or
~~•illin~.;l~• atllu~~- to h.• doni• an\- ac•t it~~ ~~•hit:h tut}• insut•ancr ma.- lx'
susl-ended, impaired or cunceiled, and that it ~~'ill not 1-erutit or allc\~'
th;• ~"etisel to undertake :ut\• \-o\•uge (tr rtrn an~• risk or translx~rt an~•
c•ar~.;o \~'ltich uta~- not lx• 1-ertt-ithvi L~• the 1-~>lieies in force, ~~'itltout
having 1-rcviously insured the ~•t•.-s(•l L~- udditiunhl c•uv~~-•t•ag-• to ext(~nd
tU ~n('11 \'l1\'a~eN, 1'ISks of Cill'r!o(•~.
tit':("rlo~ I(i. The ~hilu-~~•ner \~-ill retu-lntr~e the ~.lortna;;c,^
ht•ontl~tlv-, v~'ith interest at the rate of t~~'el~•c~ lu~t• cent (1'2~%c) jeer
~uuunu, for an\• and all exlu~ncLtures \t~hich the ~lort~agee tua~• from
tinu~ to time utake, ia~- ottt or exlx~nd in 1-rov-iditt:; such l~,rotection in
reslu•rt of ir.surtuu~e, discharge or l>urcitase of liens, taxes, dues, as-
sessnumts, governnu•ntal charges, fines and lx•naltie, la~~'full~' imposed,
repair., reasonahte attorne~•s' fees and other uuttters as tl,e ~ltip-
m~-ne~• is ohli~[ated herein to prm-ide, but fails to 1-rovicL~, tiuch obli-
tration (>P the tihilx~~~•ner to reiu-hurse the \lortgagee shall he an add
tion<tl indeht,•dness due f•rnm the ~;hiho\~~ner, secure(1 h~• this \(ortz,a~ ,
and shall hc• lta~ahle by the ~hil~o~rner on detnttnd. The Mortgagee,
thrntt*h hri ~•ilcne(1 so to do, shall he under no ob'.igtttion to the fihip-