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HomeMy WebLinkAbout1251C ~r r perfoltllflflCe t\r al.!~rrvnn(•a of any covenant, C'ulldlUt»t C)r ti~;t~~Vla'4t^i7 rgt(~1r;411`~t!IijL Hfl\' Illttltllnt'!It n01\' Or IPfI'- af!er evidencing or securing the eAnto, and the holder of said note nrn}• apply i>w,~tm'ntts reccivfnl art nny nnu+uute due thereunder or under the termR of any ini+trutlrcnt now' yr hcrenftcr evidencing or eccuriug rai+i note, a» such holder may determine; ' 2. 7 o pny the indcblednrs» I:ereby t,ccttrrct end inte:etit the mote pri,rnplly on the days Rprcitievl for the Rama to become due and payable, end a-eo on demand any other indebtedness that may accrue Bind b:canl?+ due anti pay- able to t1:e mortgagoo under the terms and provisions of this mortgage; -:- ~ 8. To keep fhe mortgaged prcrnivr•e in good reprir; to neither commit nor Buffer strip or w•aate on the mort- gag?`d premises; to obtain the written consent of Illo mortgagee bcforo demolishing, removing or materially altering any building, structure or improvement now or herenftrr upon the mortgaged prcmisrs or brf3re allowing any etch building, stntchtre or improvement to he dcrnolished, rcmovefl or materially nltcrcd; not to commit nor suffer any act by which the value of the mortgngccl premir:c•s may l.c` impaired; and not to violate noU permit the v~olaticrn of eery law, by-law, onlinance or contract affeclinK rho mortgaged prrmisfw; not to violntr nor sufYrr the violation of the covennnt» and ngrccments, i[ any, of reconi against tho mortgngrd premises; , 4.• To pay trefore delinquent or before any prnnlty for non{uryment attnche•a thereto all taxes, imlx>sitione, aasresmente, water rrtcs, and charges of every nature end to wbamever aaac:asfxl that may_now or hereafter be Imposed, levied or a»sessecl upon or against the mortgaged premises or any part. thernof, or ulxrn the n`nt», IRRUea, income or profits thereof, whether say or all of snid tnxcs, asse~ments or charges be le:ird •linctly or indirectly or tar excil<r taxes or rat income taxes; b. To keep the buildings and improvrment.9 nv\v stranding or hrrcafter erected upon rho mortgaged premises and soy and all apparatus, fixture» and nppurtrnrncea saw or hereafter in or attached to enid buildings or improve- ments, insrued against Icx» or clamrgr. by fire and such other haatrnls as the mortgagee may from time to time require, all such iruntranco to be in forms, in companies and in cams (not less than sufficient to avoid any claim on tho part of the inartr rs for co-inaurrnrn) Ratiatactory to the mortgagee; that all insurance policies shall be held by and shall be for the benefit of and flr8t payable in es.`c of loan to the mortgrgcr, sort that at tenet Sheen clays befuro the expi- ration of each such policy, a new and sufficient policy to take the glare of the one so expiring shall be delivered to the mortgagee. 1'he mortgagor hereby ssstgns to tho mortgagee all moneys recoverable under each such policy, and agrees that in the Burnt of a toes the amrntnt collretcd ttndrr any policy of insurance on Raid property may, at the option of the mortgagee, be applied by the mortgagee upon any indebtf`dnesa and/or obligation Rrcumd hemby and in such order rs mortgngre ma}• determine; or Raid amount or soy pardon thereof may, at rho option of the mortgagee, either be rased in replacing, rcl>•:riring or mFtocinq the imprvvrments partially or totally destroyed to s condition turtinfnctory to snicl mortgagee, or Ixt releaFC`cl to the mortgagor, in either of which events the mortg:rgro shall nvr be obligated to eeo to ihr pmlx`r npplicntion thereof; nor shell the amount so relcascil yr used bo deemed a payment on any inclrhtrclness secured hemby. 7'ho mortgagor hemby rppoints the r:torigagee attorney irrevocable of the mortgagor to aFSign sorb such policy in the rennt of the foreclosure of this mortgage; (1. Tn pay all sums, the failure to pay which may result in the requisition of a Tien prior to the lien of this mortgage, before such n prior lien may attach; 7. That upon fnilutr to comply with the prccc•clinq covenant or with any o[ fhe covenrnts and agnrmente as to payment of taxeQ, imlx~itions, rFSCrcments, wrtrr rates and chntgrs, rocking of reprira or maintenance of insur- ance as nforesnid, the tnortgngcr, without pn•judice to any right» given under subsequent paragraphs he nllrsmm» mnkr rdvnncea to perform the slrmr in i>rhrlf of the mortgagor, end the mortgagor hemby ogress to rcpry eo ndvrncrd in his tx`hnlf, on demand, with interest from the date advnncf•ci rt the rate of eight per c~nh-m per annum, and all soma so ndvan<rd, with interest. s_q rtfomrulid, ~hnll 1M immrdintel}• clue and payable end br secut•r,-1 hereby, having the }tenefit. of the lien hemby created, and of its pr~otity, hut. no such advances shall Ile dremecl to relieve the mortgager from nny <iefnult hereunder ur impair nny right or mmcYly co::Fequrnt thereon, and the exercise of tho right to make advrncca grantnl in this pntngraph Fhal1 L•r optional with the mortgngc•e and not ohligntory, end th© mortgrger shell not in my case l>r liable to tho mortgagor for fnihtrc to exrrcice any such right; R. That fhe mortgngre shall he subrugntcd for further security to the lien, although relen»ed of rcconl, of any and ell encambrnnrer+ enid out of the prcx:cres of the loan Fecuted h}' this mortgage; P. That, whilo them is no defntdt in the prrformanee c.r observance of any of the covrnnnt» or rgtecment» herein contrived, t.ho mortgagor Khan hove the privilege of collecting end receiving all rents scenting under lenses or contract» of tenrnry for the mortgagal premise`s or any port thereof; 1(1. That, if any action or prcxeeding I,c cmnmeucc~l (excepting sn action to foreclose this mortgage or to colleet the debt. hereb}• scrvrai), tv which action or procrc~ling the martgagea is made a party by mason of the exe- cutirnt of this morfgngr or the note which it rrcures, or in which the mortgrgee derma it nrcrssrtry to defend in Doter to nphold the lien of this mortgngr or the priority thereof ur po::~c:~ion of said mortgagee) pmmiccs, all sums paid or incurred by thc• mort;{aq+•r fur counr:cl fr,•:+ trod other rxlx•nse`F in sucL action or prx•~•r+l'^q shah bo rcpt=id by rho mortgagor, together with interest themon from date of ptr}'nu•nt h}• the mortgngrr, rt rho rote o[ right per ccntum per annum, and all Fnch sums end the interest thereon shall be immedinlrl}• due and payable and rte Berated hereb}•, having the benefit of the Gen hereby createel and of its priority; Foxf;, Pierce 11. That my Anti ell nw•nnts heretofore tnrdr and }trrcafter to Ix` mode by the ('it}• of or nm• municipal, county, stale or federal nttthoritirs to the pre=tnt. and all suh~c•gnent owners o[ the premises covered by this mortgage, in:ludinq my award or aw•nnls w•hrther fur tt tnkinq of title to, pc~cr~uion of, or any interest in, the mortgngrd premit;c`s or nny part thrrrot and an}• n\snnl or aw'anlh rrcrivcyl far cl«magrs sustained by the mort- gngf`d premisf`F or nny part thereof or for nny chnn{;e or chengeF of quulo of titrcrts nf(cctinR raid premises, ere beret>y nF.gignrd to the mortgagee; and the mortgagvr, at its option, is hereby nuthorizMl, dinctcd and rmpowerc•cl to collect and meeicr thc• prvicef~le; of nny such nwnnl or a\\•unia from the nuthoritics mnkint; the same and to give proper receipt:; and ncquittnnces therefor, and to apply the ~ame•tu\cnnl the payment of th!r amount owing on account of the mortgngr dolt, nut\\ilh.hutdinq lho fact that ihr nnunu+t u\cinq un account of the mortgage debt may not rte then due and pnvuhle; and thr~mortgaqur hereby covenants and ngrrc•s tc snit \rith the mortgngrr, upon request by the rnortgagre, to stake, execute and'dclivEr nny and all :+`~igumcnls and other in5tntment» au(licicnt fur rho purpr~r of n~"igninq the nfor(•aaid nn•tud or rl\snrcls ttt the murtycngcc free, c•Irar and di~chnrgrd of any end ell encum- Lrnncra of any kind yr nnhtrr rchaL+xwrr: 1'l. That an}• iailhlr to cvcrri=r :ray right hcrettndcr shall n~;t c•unstitute our rte constnted ag n waiver of that right rat shy fulntr tinu~; 13. That this nuut!;nGr rrrttcs n cuntinuin>; lien to secun• the full and final p;t}-meat of the debt hereby Recu,ed nnc? all utJlcr ,d~!it• !tioat imps..=t d Lrreb}• :uul hcrea(ter ari<int;. ~OEt), if rht• tl.,`"~n++~l, :!rr malt' :~; procit((vl :utd all the i!!tcta!int; cu:t•nant= and aFrrruu•u;s aru perftln»rrl and oL.rrvtd, 11+i nn~.l;~!,• :Il;tll 1,1 lull :u,.l coitl :unl :h,!11 Lr• tetra<+~I ;tt the crier ~+i tLc Iuurll;:!>;ur, which curt the nltat{;ng+a :.!•t•• , +.~ I , h:tt up~~a nu) •L•tut;it iu t!..• 1~: }u:+ut of th(• imlrl,t+:lm-, hrrcL~ r.c•cuu•rl ur of :ul}. iu~luihuent lLra, ~~i „! •! i,~~ t; + 11!~ t, un• :! tlu•\• .~ \t t,,11~ I, c! „l n! !iu+•, to 1+1!nn ;ut~' th i;n!1! In tht• pcrfurmar,te 4-~ • . .,