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HomeMy WebLinkAbout1435 . ~ i completion shall comply therewith and with the rules of the Board of Fire IInderwriters having jurisdiction. 9. Upon any failure by the Mortgagor to comply with or per- form any of the terms, covenants or conditions of this Mortgage requiring the payment of any amount of money by the Mortgagor, otr,er than the principal amount of the loan evidenced by the Note, interest and other charges, as provided in the Note, the Mortgagee may at its option make such payment. Every paymeni; so made by the Mortgagee (including reasonable attorney's fees in- curred thereby), with interest tY,ereon from the date of such pay- ment, at the rate of three percent (3~) per annum, except any ' payment for which a different rate of interest is specified herein, ' shall be payable by the Mortgagor to the Mortgagee on demand and , shall be secured by this Mortgage. This Mortgage with respect to - any such a.mount and the interest thereon, shall constitute a lien . on the mortgaged property prior to any other lien attaching or accruing subsequent to the lien of this Mortgage. . 10. The Mortgagee, by any of its agen~s or representatives, shall have the right to inspect the ~ortgaged property from time to tine at any reasonable hour of the day. Should the mortgaged pro- perty, or any part thereof, at any time require inspection, repair, care or at~cention of any kind or nature not provided by this Mort- gage as determined by the Mortgagee in its sole discretion, the . Mortgagee may, after notice to the Mortgagor, enter or cause entry to be made upon, the mortgaged property, and inspect, repair, pro- ' tect, care for or maintain such property, as the Mortgagee may in ~ ~ts sole discretion deem necessar , and ma } y y pay all amounts of ~ ; money therefor, as the Mortgagee may in its sole discretion deem • 3 ~ ~ l ~ necessary. . ~ ~ ' 11. The pr~ncipal amount owing on the Note together with in- ~ terest thereon and all other charges, as therein provided, and all other asnounts of mon~y owing by the Mortgagor to the ~Io~^tgagee pursuant to and secured by this Mortgage, shall immediately be- ~ come due and ~a able without notice or demand u on the a ~ ~ y p ppointment ~ of a receiver or liquidator, whether voluntary or involuntary, - t for t~,e Mortgagor or any of the property of the Mortgagor, or ~ upon t'ne filing of a petition by or against the Mortgagor under . the provisions of any State insolvency law, or ur..;.ar the provisions of t'ne..BankrupZCy Act of 1898, as amended, or upon the making by the Mortgagor of an assignment for the benefit of the Mortgagor's credi~~~rs. The Nortgagee is authorized to declare, at its option, ~11 any part of sucr. indebtedness iWmediately due anc ~ayable , up~n ~~::a haprening of any of the following events: i s~~7~ ~143i