HomeMy WebLinkAbout0121 a) ~o pay when due and without requiring any notice from
Mortqagee, all taxes, assessments of any type or nature and other
charges levied or assessed against the property hereby encumbered
or any interest of Mortgagee herein and to in~mediately pay and dis-
charge e~s~qr. claim, lien or encumbrance against euch premises, which
may be or become superior to this mortgage and to permit no default
or delinquency on any lien, encuiabrance or charge againat the said
property.
b) Mortgagor, at its own cost and expense, will keep all
the mortgaged property in good state of repair and will not commit
or permit waste, deatruction or deterioration of the same or any
part thereof and will not be negligent in the c~re and use thereof;
and Mortgac,pc will~ not sell, assign, mortgage, transfer, lease, pledge
or otherwise disp~se of any of the mortgaged property without the prior
written consent of Mortgagee.
c) Mortgagor will fully and faithfully comply and abide
with each and every term, covenant, condition of the mortgages superior
hereto and never permit any of said caortgages to go into default, and
that no superior mortgage will be amended, altered or extended nor any
f urther advances made thereon nor any obligation made thereon nor any
~ obligationst3~ereunder increased or enhanced in any way, without the
written consent of the Mortgagee being first obtained, and no su~ch
action shall be of any force and effect unless su~ written consent
is first obtained.
d) To pay all taxes, stamp tax and other charges which may
be assessed upon this mortgage or upon any and every note which the
same may secure or any indebtedness secured hereby.
e) Mortgagor will inaure the mortgaged property and all
of the same in the name of Mortgagee against loss:or damage by fire
and extended coverage, perils, theft, bua~tary, pilferage and any other
coverage customarily carried to secure the Mortgagee hereunder and also
; where requested by Mortgagee againat other hazards in companies,in
amounts and under policies acceptable to Mortgagee, the proceeds to be
` payable to Mortgagee as Mortgagee's inte=est may appear and to the
~ extent of all the Mortgage Obligations hereunder, and all premiums
there~n shall be promptly paid by Mortgagor and the policies assigned
~ and forth~ivith delivered to the Mortgagee. Upon foreclosure of this t
mortgage or other acquisition of the property or any part thereof i
by Mortgagee, tYie said policies, along with the Abstracts of Title
and title evidence and title insurance shall become the absolute
property of Mortgagee.
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f) Comply with all laws, ordinances, regulations, covenants, 4
~ conditions and restrictions affecting the property mortgaged hereunder
~ and not to commit or suff er any violatinn thereof . ~
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g) If Mortgagor fails to pay any claim, lien or encumbrance
~ which is superior tothis mortgage,when due,or any tax or asaeasment E
or insurance premium when due or keep the premisea in repair or commit R
~ or permit waate, or if there be commenced any action or proceeding ~
affecting the premises or the title thereto, then Mortgagee, at its {
~ option, may pay such claim, lien, encumbrance, tax,asaessment or j
~ premium with right of subrogation thereunder, may make such repairs ~
~ and take such steps as it deems advisable to prevent or cure auch waste,
~ and may appear i?? any s~~.~ action or proceeding and retain counsel
~ therein, and take such action therein as M~ortgagee deems advisable,
and for any of said purposes M~rtgagee may advance auch sums of money,
~ including, but not limited to, all costa, fees and other items of
expense as it deeme necessary. Mortgagee shall be the aole judge of ~
the legality, validity and priority of any auch claim, liin, encutabrance, ~
~ tax, assessment anc'~/or premium and of the amount necessary to be paid
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~ f a o''~.39 118 =
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