HomeMy WebLinkAbout1658 ~ (b ) The ![ortg~gor shall not talce out sep~,rate insur-
anae aoncurrent in fsrm 0r oontriusting in the event ~P loss ~dth
tha~t required to be maintainsd under thie 3ecti~n 1.09,
unlees the l~[artgagee is inaluded thereon aa a naned insured
Mith loas p~yAt~le to the Mortgagee uader a mortgagee endoree-
ment eubatantially equivalent te ~he mortgage endorsement
of the ch~ucaater above describedo The Mvrtgagor ehall immedi-
ately notify the Kortgagee Mhenever any suoh sep~.r~te ineur-
anee is taken out, epeoifying the inaurer thereunder and
full particulars ae te the p•liaies evidencing the eame. ~
3SC~ION 1,10o If ~he 1~Lsrtgagor ehall fail t• perform
~y of the c~venan~a contained ir~ ~ 3ecti~ 1 o O1, 10 03, l: 07,
" Io08 or 1.09 the Mortgagee ma,,q make ~dvsncee to perform the
same in ita behalf', and all eume eo advanced shall be a lien
upon the l[ortgaged Property arad ehall be seaurer3 herebya R~e
Mortgagor w~ll repay en demanrl•all suma eo advanced on ita
behalf ~ ith intereet at the Inveluntary Rate. ?he ~rovieione
i -
I sf thi~ 3e~ti~n 1.10 ahall not prevent ar~y default in the
~ obaervar~ca of any covenant contained in sai3 Seationa 1a01,
1003, 1,07, 1008 or 1009 f'rom canstitutiag an Event oF Delaulto
S$CTION l.ll (a) ~he Mortgagor ~ill keep adequate
recorda ~n3 boel~ af acao~nt in accordance with ganerally ae~
~ eepted acaounting principlee ar~.d rrill permit the 1[ortg~gee, by
its agents~ aaeeuntanta and att~rneys, to viait and inepect the
Premieae ansi ex~ine ite recorde and books of a~count and to ~
discuea its APfaire, finances and aocovn~~ witr ~he ~Pficers of ~
the Kortgager, at such reaaonable times ~e nay be reque8ted by ~
~
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the Mortgagee. .
(b) The Mortgagor Mill deliver to the Mor~gagee'w ith
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do~ 174 8~ ~
~ ~~174 ~1654
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