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HomeMy WebLinkAbout1897 t'1 -4- 5. The Mortgagor will not voluntarily create; or permit or ~ •euffer to be create~d or to eaiet, on or sgainet the mortgaged pro- ~ perty, or any part thereof, any lien euperior to the lien ot tbie ' Mortgage, eaclueive oY the lien or liene, if any, to wbicb thie Mortgage ie e~cpreeely eub~ect, ae eet Yorth in the granting alauee above, and will keep and maintain the eame Yree irom the claime ot all partiee eupply~~g labor or mater~ale which will enter into the aonstruction or inetallation of the Improvemente. 6. (a) The Mortgagor will keep all buildinge, other etracturee and improvemente, including equipment, now eaieting or which may hereafter be erected or inetalled on~the land mortgaged hereby, inaured againet loea by fire and other hasarde, caeualtiee and contingencies, in euch amounte and manner, and ~or such periode, all as may be required from time to time by the Mortgagee. IInleee otherwiee required by the Mortgagee, all euch.ineurance ehall be effected by Standard Fire and Eatended Coverage Insurance policiee, in amounte not lese than neceesary to comply with the cotneurance clauae percentage of the value applicable to the location and char= acter o~ the property to be covered. All euch ineurance ehall be carried in companiee approved by the Mortgagee and all policiee - therefor ehall be in such form and ehall have attached thereto loes payable clauaes in favor of the Mortgagee and any other partiee as eball be eatiefactory to the Mortgagee. All euch policiee and ~ ~ attachmente thereto ahall, be delivered promptly to the Mortgagee, . unless they are required to be delivered to the holder of a lien o~ ~ f a mortgage or aimilar instrument to which thie Mortgage ie eapreeely ; aubject, in wtiich latter event certificated thereof, eatisfactory ~ to the Mortgagee, ehall be delivered promptly to the Mortgagee. ~ ~ The Mortgagor will pay promptly when due, as hereinafter provided, ~ any and all premiume on euch ineurance, and in every case in which ~ payment thereof is not made from the depoeite there~or required by ; thie Mortgage, promptly eubmit to the Mortgagee for examination receipts or other~evidence of euch payment ae ehall be satiefactory to tbe Mortgagee. The~Mortgagee may obtain and pay the premium on (but eball be under no obligation to do ao) every kind of ineurance reQuired hereby if the amount of such premium hae not been depoeited - . ; ae required by thie Mortgage, in which event the Mortgagor will pqy ; ~ to the Mortgagee every premium eo paid by the Mortgagee. ~ ~ (b) In the event of loae or damage to the mortgaged pro- perty, the Mortgagor will give to the Mortgagee immediate notice thereof by mail, and the Mortgagee may make and file proof o~ loee _ if not made otherwibe promptly by or on behel! ot the Mortgagor. . Each ineurance company ieeuing any euch policy ie hereby authorized and directed to make payment thereunder ior euab loee to the Mortgagor - and tbe Mortgsgee ~ointly, unleee the amount o! loee ie pe~yable iiret , aoo~ 175 P~1894 ~ ~ . . . . _ ' _ _ . . ~*Y' ,__~'3~'",ca: y , _ __3 T