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(e) Nothing in this Section 1.07 shall reqnire the payment or ~
discharge of any obligation imposed npon the Mortgagor by this i
Section so long as the Mortgagor shall in good faith and at its own
eapense contest the same or the validity thereof by appropriate legal
. proceedinga which shall operate to prevent the collection thereof or ~
other realization thereon and the sale or forfeitnre of the Premises
or anp part thereof to satisfy the same; provided that dnring ench ~
contest the Mortgagor shall, at the option of the Mortgagee, provide
secnrity satisfactory to the Mortgagee, assnring the discharge of the
Mortgagor's obligation herennder and of any additional charge, pen-
alty or eapense arising from or incnrred as a resnlt of such contest;
and provided fnrther, that if at any time payment of any obligation im-
posed upon the Mortgagor by snbsection (a) of this Section ahall be-
come necessary to prevent the delivery of a tax deed conveying the
Mortgaged Property or any portion thereof becanse of non-payment, '
j tLen Mortgagor shall pay the same in snfficient time to prevent the `
f delivery of anch tag deed. ~
S$criox 1.08. The Mortgagor will pay any tazes eacept income ~
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~ taaes imposed on the Mortgagee by reason of its ownership of the
Note or this Mortgage.
~ $sclzox 1.09. (a) The Mortgagor will keep the Improvements
and Chattela insnred against loss by fire, casnalty and snch other
hazards as may be specified by the Mortgagee for the benefit of the
Mort~gee. Snch insnrance shall be written in forms, amonnts, and by
companies, satisfactory to the Mortgagee, and lossea therennder shall
be payable to the Mortgagee pursnant to a standard firat mortgage -
endorsement snbstantially eqnivalent to the New York atandard mort-
gagee endorsement. The policy or policies of such insurance sLall be
delivered to the Mortgagee. The Mortgagor shall give tLe Mortgagee
prompt notice of any loss covered by anch insnrance and the Mortgagee
shall have the right to join the Mortgagor in adjnsting any loas ia ~
eacess of $50,000. Any moneys received as payment for any loss nnder i
any ancL insnrance shall be paid o~er to the Mortgagee to be applied ;
at the optian of the Ddortgagee either to the prepayment of the Note,
~ withont premium, or to the reimbnrsement of tLe Mortgagor ior ez-
pensea inenrred by it in the restoration of the Improvemente.
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