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HomeMy WebLinkAbout0454 ' ' -3- ~c~ ta make and enter i~to additional contracte and incur obligations ~or the purposea of completing tbe Improvements pursuant to tbe obligations oY the Mortgagor bereunder, eit~er i~ the name of tbe Mortgagee or tbe Mort- _ gagor, and (d) to pa~ and discbarge all debts, obligations a~d liabilitiea incurred by reason of any action taken by tbe Mortgagee as provided i~ thia Paragrapb, all of whicb amou~ta ~o paid by tbe Mortgagee, witb inter- est tbereon from tbe da~e ot eacb aucb payment, at tbe rate of tbree per- cent (3~) per an~um, aball be payable by the Mortgagor to tbe Mortgagee on demand and sba~l be secured by this Mortgage. 4. No building or.otber structure or improvement, ~ixture or per- sonal property mortgaged bereby sball be removed or demolisbed witbout the prior written co~sent of the Mortgagee. Tbe Mortgagor will not make, permit or suffer any alteration of or additi~n to any building or otber structure ar improvement now or whicb ma~ bereafter be erected or i~stall~d. upon the mortgaged~property, or any part tbereof, egcept tbe improvementa required to be made purauant to Paragrapb 3 bereof, nor will the Mortagor use, or pErmit or auffer the uae o~, a~y of tbe mortgaesd property for aay p~rpose otber than tbe purpose or purposee for wbic~ the same is now in- tended to be used, without the prior written coneent of tbe Mortgagee. ~ The Mortgagor will maintain tbe mortgaged property in good con~ition and state of repair and will not euYfer or permit a~~ waste to any part tbereot, and will promptly comply wi~th all tbe requirements of Federal, atate and . local ~overnments, or o~ any departments, divieione or buresue thereof, pertaining to auch'property or any part tbereo~. 5. Tbe Mortgagor will not voluntarily create, or permit or suffer to be created or to~egist, on or againet the mortgaged property, or any part t~ereo~, any lien auperior to tbe lien of thie Mortgage, ezcluaive of tbe lien or liens, if any, to wbich tbia Mortgage fe ezpreesly aub~ect, ae set ~ ! forth in the granting clause above, and will keep and maintain tbe sam~ ~ free Yrom the claims ot all partiea supFlying labor or materials whicb will ~ enter into tbe construction or in$tallation of the Improv~ments. 6. (a) The Mortgagor will keep all buildinge, otber etructures and improvemente, including equipment,-now e$iating~or wbich may herea~ter-be erected or installed on the land mortga~ed bereby, inaured againat loea by fire and other bazarde, caeualtiee and contingencies, i~ auch amounts and manner, and ~or sucb periods, all as may be required from time to time by the Mortgagee. IInless otberwise required by the Mortgagee, all aucb in= surance eball be effected by Standard Fire and Extended Coverage Insurance policies, in amounts not lese tban necessary to comply witb tbe coinsur- ance clanse.percentage of tbe value applicable to tbe location and cbarac- ter of tbe property to be covered. All sucb ineurance sball be carried in companies approved b9 tbe Mortgagee and all policiee tbere~or aball be in sucb form an3 sball bave attacbed thereto loea payable clauses in favor of t~e Mortgagee and~any.otber partiea as sball be satiefactorp to tbe i4ortgagee. ~ll sucb policiea and attacbmente tbereto eball be delivered - promptly to tbe Mortgagee, unlesa they are required to be delivered to tbe holder oY a lien oY-a mortgage or similar instrument to wbich tbis Mort- gage is expreaely eub~ect, in-wbich latter event certificatee tbereof, ~ 452 s.~-.-~ -.•-'+vf '.~t. - ' . _ _ , ,~y`~~ _ i_'~J zwJ=~~.,~''i'yJ..- ~mm`~F'~ .~'`1.