HomeMy WebLinkAbout0908 . , _ ;
cpn~truction, mey maintain and reatore the Mortgaged
Property, whereof it ahall become poaeeased as afore$aid;
and likewise, from time to tin~e, at the e~cpense oP the
Mortgaged Property, the Mortgagee may make all neceseary
or proper repaira, renewala and replacementa and euch
uaeful ~lterationa, additions, bettermenta and improve-
• menta thereto and thereon as to it may seem adviaeble;
and in every such case the Mortgagee ahall have the right
to manage and operate the Mortigaged Property and to carry
on the bueiness thereof and exercise ell rights and power~
of the Mortgagor with reapect thereto either in the name ~
of the Mortgagor or otherwise ae it ahall deem beat; and
the Mortgagee shall be-entitled to collect and receive all
earning~, revenues, rent8, isaues, profit~ and income of
the Mortgaged Property and every part thereof, all oF
~ which ~hall for all purposes conatitute property of the
~
~ Mortgagor; and after deducting the expenses of conducting
f
t
the bL~inea~ thereof and of all maintenance, reFaira, re-
i
newal~, replecementa, alterations, additions, bettermente ~
_ ~
and improvements and amounts neceseary ~o p~y For taxes,
r
essessmente, insurance a~nd prior or other proper chargee
upon the Mortgaged Property or any part thereof, ae well
aa ~ust and reaaonable compeneation for the services of
the Mortgagee and for all attorneys, couneel, agenta,
clerks, servants and other emp3oyees by it~properly en-
gaged and employed, the Mortgagee ahall apply the moneya
arising as aforessid, firat, to the paymen:*.. of the princi-
pal of the Note and the interest thereon, wr.en and as the -
aame shall become payable and second, to the payment of
any other aume required to be pa~td by the Nfor~gagor under
this Mortgage. _
II-4
8~174 ~ gp5