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HomeMy WebLinkAbout1204 ' - ? - completion shall comply therewith and with the rules of the Board of Fire IInderwritera having ~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 o~ any amount of money b9 the Mortgagor, other than the principal amount of the loan evidenced by the Note, interest and other.chargea, as provided in the Note, the Mortgagee may at its option make such payment. Every payment so made by the Mortgag~e (including reasonable attorney's fees in- curred thereby), with interest thereon 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 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, by any of its agen~s 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 ~art thereof, at any time require ~nspection, repair,- care or attention of any kind or nature not provided by this Mort- ~age 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 o~ maintain such property, as the Mortgagee may in i its sole discretion deem necessary, and may pay all amounts of ~ money therefor, as the Mortgagee may in its sole discretion deem • i - - ~ necessary. ~ 11. The principal amount owing on the Note together with in- terest thereon and all other charges, as therein provided, and all other amounts of money owing by the Mortgagor to the Mortgagee pursua:~t to and secured by this Mortgage, shal~ immediately be- come due and payable without notice or demand upon the appointment of a receiver or liquidator, whether voluntary or involuntary, ~ for the Mortgagor or any of the property ot the Mortgagcr, or upon t~~e f~iing of a petition by or against the Mortgagor under ~ the provisions of any State inaolvency law, or under the provisions ; ~ of thz.3ankru tc Act of 1898 as a.mended or u on the makin b s P Y > > P ~ Y ' ~ the Mortgagor of an assignment for the beneYit of the Mor~~~agor~s credi~ors. The Mortgagee is authorized to declare, at its optian, all or any part af such indebtednesa immediately due and ;ayable _ upon the happeni:~g of any o~ the following events: ~ . . i S~K175 ~~?01 _ _ _ ...y~...~ i _ ~ ~ ~ _ -