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HomeMy WebLinkAbout2662 - ? - completion shall~comply therewith and with the rules of the Board of Fire IInderwriters havi~ng ~urisdiction: 9. IIpon 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 anq amount of money by the~Mortgagor, other zhan 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 sueh payment. Every payment so made by the Mortgagee (including reasonable attorney's fees in- curred thereby), with interest thereon from the date of such pay- ment, at the rate of three perceni; (3q~) 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 tY~is Mortgage. This Mortgage with respect to • ~ any such amount 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, ~y any of its agen~ or representatives, shall have the right to inspect the mortgaged property from time to time at any reasonable hour of the day. Should the mortgaged pro- perty, or any part thereof, at any time require inspection, repair, care or attention 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 • its sole discretion deem necessary, and ma,y pay all amounts of ; , ~ money therefor, as the Mortgagee may in its sole discretion deem necessary. ! 11. The principal amount owing on the Note together with in- ~erest thereon and all other charges, as therein provided, and all other a~ounts of money owing by the Mortgagor to the Mortgagee pursuant to and secured by this Mortgage, shall immediately be- come due and payable without notice or demand upon the appointment ~ of a receiver or.liquidator, whether voluntary or involuntary, ~ for th~: Mortgagor or any of the property of the Mortgagor, or upon the,filing of a petition by or against the Mortg~.gor under ~ the provisions of any State insolvency law, or under the provisions of the.~ankruptcy Act of 1898, as amended, or upon the making by the Mortgagor of an assignment for the bene~it of the Mortgagor's creditors. The Mortgagee is authorized to declare, at its option, all or any pari of such indebtedness immediately due and payable upon ~:e happening of any oY t~e fol~owing eventa: ~0~174 ~21~56 -