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HomeMy WebLinkAbout0947 ~ co~npletion ahall compl~r therewith and with the rulee of the 8oard i=o~ Fire ~~derwritera having 3urisdiation. 9. IIpon any failure by the Mortgagor tb comply with or per- ~orm a~y of the terms, covenants or conditione of thia Mortgage ~ requiring the payment of any amount of money by the Mortgagor, othar than the principa~. amount of the loan evidenced by the Note, interes~~and other.chaxgea, as provided in the Note, the Mortgagee ma.y at its option make such payment. Every payment so made by the Mortgagee (including reasonable attorney's fees in- curred thereby), with inter~st thereon from the date of such pay- ment, at the rate of three percent (39b) per annwn, except any pay~.ant for which a different rate of interest is apecified herein, - shall be payable by the Mortgagor ~o the Mortgagee on demand and shall be aecured by this Mortgage. This Mortgage with reapect to any such amount and the interest thereon, shall conatitute a lien . on the mortgaged property priqr to any other lien attaching or accruing subsequent to the lien of this Mortgage. • 10. The Mortgagee, by any of its agenis or representativea, shall have the right-to inspect the mortgaged property from t'ime to time at any reaaonable hour of the day. Should the mortgaged pro- perty, or any part thereof, at any time require inapection, repair, care or attention of any kind or nature not provided by thia Mort- gage as determined by the Mortgagee in its sole diacretion, ~he ~ Mortgagee may, after notice to the Mortgagor, enter or cause entry to be made upon, the mortgaged property, and inspect, repair, pro- I; tect, care for or maintain such property, as the Mortgagee may in ~ its sole discretion deem neceasary, and may pay all amounts o~ ~ money therefor, as the Mortgagee may in its sole discretion deem , nec`ssary. . 1~1. The principal amount ow'ing 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 pursuant to and aecured by this Mortgage, ahall 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 o~ the Mortgagor, or upcn the filing of a petition by or againet the Mortgagor under the provision9 of any State insolvency law, or under the provi9ions~ oY the Bankruptcy ~ct of 1898, as amended, or upon the making by the Nlortgagor of an assignment for the benefit of the Mortgagor's creditors. The Mortgagee is authorized to declare, at its option, all or any part of such indebtednesa immediately due and payable upon the happening oY any oY tbe followin.g evente: p~Ki77 ~ 94'~ ~ _ h~`- r . .