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and the promissory notes and mortgages referred to in Paragraph i
6 below, and in the foreclosure of this mortgaqe and in collect-
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ing the amount secured hereby, each and every such payment shall
bear interest from date thereof until paid at the rate of 6 3/496 ~
~
perannum and such payments with interest thereon as aforesaid,
sha12 be secured by the lien thereof.
4., To permit, commit or suffer no ~
waste, impairment or deterioration of said property, or any
part thereof. .
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5. To keep the buildings, now or ~
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hereafter on said land, insured against fire and tornado and ~
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all improvements located on said land, in the swm not less than
3
$680,000.00 loss, if any, payable to the Mortgagee, as its '
;
interest may appear, and in the event any sum of money becomes ~
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payable under such policy or policies, the Mortgagee, its suc- ;
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cessors or assigns, shall have the option to receive and apply ~
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,
the same on account of the indebtedness secured he reby, or to ~
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permit said Mortgagor to receive and use it, or any part thereof, ;
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for the purpose of improving said land, without thereby waiving ,
or imparing any equity, lien or right under or by virtue of
~ this mortgage; and said Mortgagee, its successors or assigns,
may place and pay for such insurance, or any part thereof,
without waiving or affecting the option to foreclose, or any
right hereunder, and each and every payment shall bear interest
from date thereof until paid at the rate of 6 3/496 per annum,
and all such payments, with interest as aforesaid, shall be
secured by the lien hereof. The mortgagee, its successors
or assigns is empowered to adjust, compromise, and submit to
arbitration and appraisement and collect, and apply to the
reduction of said indebtedness, any claim for loss arising
under any insurance policy covering said premises; and to
that end the Mortgagee, its successors and assigns are irre- ;
~
vocably appointed the attorney in fa~t of the Mortgagor, its . _
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aoo~ 151 244 ~
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