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HomeMy WebLinkAbout0444 . • • ~ -2- assigned to the Mortgagee and are deemed a part o~ the property mortgaged hereb~, and the Martgagee ie bexeby author~$ed to collect and receive tbe proceeda of eucb awards, to give proper receipte and acquittar~ces therefor, and to apply tbe ~am~ toward tbe payment of tt~e indebtedness $ecured by this Mortgage, notwithstauding the fact tbat tbe amount owing tb@reon maq not theu be due and payable; and the Mortgagor bereby agreea, upon request, to make, execute and deliver any ~nd all ae~ignments and other instruments sufficient Yor the purpase of aesigning each sucb award to tbe Mortgagee, free, clear and discharged of any encumbrancea of any kind or nature whatsoever; and TOGETHER witb all right, title and i~a#erest of the Mortgagor in and to - the~land lqing in tbe streeta and roade in front o~ and ad~oining tbe above described land (all the above deacribed land, buildings, other atruc~u~ces, fixtures, articles of personal property, awarda snd other rigbta and in- tereats-being bereina~ter collectively called~the "mortgaged property"). TO HAVE AND TO HOI,D tbe mortgaged property and every part tbereof `~nto the Mor~gagee, ita aucceseare and assigns forever.~or tbe purpoaes and u~es herein set forth. AND tbe Mortgagor further covenants and agrees with the Mortgagee, as . follows: . The Mortgagor will promptly pay tbe principal o~ and interest o~ the indebtednesa evidenced by tbe Note, and all otber chargea and indebted- ness provided tberein and in tbia Mortgage, at the timee and in the manner ~rovided in tbe Note and in this Mortgage. 2. The Mortgagor will pay wben due, ae hereinafter provided, all ground renta, if any, and all taxes, aaeeaemente, water rates and o~her governmental charge~, fines and impositions, of every kind and nature whatsoever, now or bereafter imposed on tbe mortgaged praperty, or any part thereof, and will pay wben due every amount of indebtednesa aecured by any ~ lien to whicb the lien o~ this Mortgage ie expresely sub~ect. 3. This Mortgage and the Note were ezecuted and delivered to secure moneye advanced in full_to the Mortgagor by the Mortga~ee as or on account of a loan evidenced by tbe Note, ~or tbe purpoee ot making tbe~improve- mente descrfbed or referred to iu tbe final work write-up and cost estimate ~~w~..~.~w ~ w F a~d ~inal bid aheets dated Auguat,71 19 ~9 , to or on tbe mort- - i ~ gaged property, and for sucb otber purpoee, if any, deecri~ed or referred t ~ to tberei~, wbich improvements are bereinafter ~ollectively called °Im- ~ provements". Th~ Mortgagor~sball make or cause to be made all tbe Im- provements. If the conatruction or installation o~ the Improvements ehall not be carried out witb reasonable diligence, or sball be diacontinued at any time for any reason, other than atrikea, lock-outa, acts of God, fires, floods cr other similar cataetropbiea, riote, war or insurrection, tbe Martgagee aYter due notice to the Mortgagor ia bereby autborized (a) to - snter upon tbe mortgaged property a~d.employ any watchmen to protect the Tmprovements from depredation or in~ury and to preaerve and protect sucb property, (b) to carry out $ny or all then exiating contracta between the Mortgagor and other partiea fo~ tbe purpose o~ making any o~ tbe Improvements, f ~ ~ ~ ~ ~ • ~ .~.Y - ~ ~ _ - _ ~ ?