HomeMy WebLinkAbout0899 (b) The Kortgwg~r shall nat take out eeparate insur-
ance aonaurrent in ferm er aontributing in the event •P losa ~th
that requirad t~ be maintained under thie Section 1.09,
unlees the lrt~rtgagee is inoluded thereon a~ a named insured
with loas pqy?al+le to the Kortgagee under a mortgagee endorse-
ment subetantially equivalent te the mortgage endoreement
of the charACter above deacribedo Zhe N~rtgagor ehall immedi-
ately notify the Mortgagee Mhtnever ~ny euch eepara~e ineur-
s~nce ia taken out, epecitying the ineurer thereunder and
full pa,rticulara ~e to the policies evidencing the same.
S$C~'tON 1010 o If ~he 2[ortgagor eh~ll Pail t• perPorm
a~y of the coveAan~a contained in 3ections 1e41, 1e039 1:07,
~ 1008 or 1.09 tha Mortgagee m~yy make advAncee to perform the
ssme in i~e bek~alt', and all eums eo advaneed shall be s lien
upon the Mertgaged Progerty aad ahall be eecure~l hereby~ The ~
Mortgagor w:,ll repay on demand~all eums so advanced on ite ~
behalf with ~.ntereet at the Inva3wntary Rate. ~ha ~ravidiona
of thi~ Se~tisn 1.10 ahall not prevent ar~y default ~n the
observa~ca cf anq covenant conta.lned in sa33 Sectiona 1e01,
1o03y 1007, 1008 or 1009 from c0r,~atituting an Event of DePaulto
3SCTION lall (a) ~he l~iortgagor will keep adequate
recor~de and boel~a af account in aQCOrd~nee with ganera.lly ae~
~ cepted acceunting pr3nciplee ar~i will permit the l~iortgagee, by
~ ~
ite agents, aceountants and attorneye9 to visit a~d inapect the ~
~
Premiea8 and examine ite reeorda and books oP aecour~t ~nd to ~
disausa its At'faire~ financea and acco~n~a wi*!^ ~he afficer~ of
the Mortg~gor, at aucl~ re~onsble times ae may be re~ue~t~d by
the Mortgagee. ~
(b) The Mortgagor Mill deliver to the Mor}gagee'w ith
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Boa~~7~4 896