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HomeMy WebLinkAbout0641 . _ 2 _ ~~ssi~ned to the ~:ort~aQee and are dee~ed a part of the ~roperty ~ortgaged nereby, and the Mortgagee is hereby authorized to call~ct ard receive the ~~roceeds of such awards, to give proper receipts and acquit~ances therefor, and to aFply the same to«ard the payment of the indebtednes~ secured by t~is ~iortgage, notwithstanding the fact that the atnount owir~g thereon may not then be due and payable; and the Mort~agor hereby agrees, upon request, aake,~execute and deliver any and all assignments and other instruments sUfficie~t for the purpase of assigning eac~ such award to the Mortgagee, ~ree, clear and discharged of any encumbrances of any kind or nature w~atsoever; and ~ TOGETN~R with all right, title and interest of ~he M~r~~agor in and to i~e~land lying in the streets and roads in front of and adjoining the above ~escribed land (all the above described land, build~ngs, other structures, fixtures, articles of personal property, awards and other rights and in- ~erests being hereinafter collectively ealled the "mortgaged progerty"). TO H.4VE AND TO HOI,D the mortgaged property and every part thereof unto ~:~e Mortgagee, its successors and assigns forever for the pnrposes and uses ~erein set forth. - Al~TD the ~or±gagor further covenants and agrees with the"Niortgagee, as ~ollows: mhe Mortgagor will promptly pay the principal of and interest on - ~ ~ne indebtedness evidenced by the Note, and ail other charges and indebted- ress provided tnerein and in this Mortgage, at the times and in the manner irovided in the NQte and in this Mortgage. 2. The Mortgagor will pay when due, as hereinafter provided, all ~round rents, if any, and all taxes, assessments, water ra es an o er Vovernmental charges, fines and impositions, of every kind and nature :~~hatsoever, now or hereafter imposed on the mortgaged property, or any part ~nereof, and will pay when due every amount of indebtedness secured by au~ iien to which the lien of this Mortgage is expressly subject. 3. This t~iortgage and the Note were executed and delivered to secure ~oneys advanced in full to the Mortgagor by ~~,e Mortgagee as or on account ~i a loa~ eviaenced by the Note, for the purpose of making tne inprove- ~ents _descri~ed or referred to in the Finsl Wo,~1c Wri~g-IIn„~,ads`;~g# F~t#ima+~a A.,~ FYnal bid sheets dated October 29 ,'f 9~,¢Q, to or on the mort- ~aged property, and for such other purpose, if any,~described or referred to therein, w'r:~ch impr~vements are hereinafter collectively called "Im- ~rovenen~s'~. lhe Mortgagor shall make or cause to be made alI the Im- ~rovements. If ;,he construction or installation of the Improvements shall ::~ot be carried out witr, reasonable diligence, or shall be d;scont~nued at ar.~--~-~e--~~r any -reas~-ot~r-than- stri~,~2oc -~ou~s, --ac~s os'~~oc~, ~ires, ~ - - - - - - - - - - ' ~~o~ns or ~ther ~inilar catas~rophies, riots, war or insurrection, the ~ -~:artgagee after due notice to the Mortgagor is hereby authorized (a) to ; enter upor: t:~e mortgaged property and'employ any watchmen to protect the ~ l~provemen~s fr~~ depredation or injury and to preserve and protect such ~roper~y, (b) to carry out ar,y or all -then existing contrac~s between the ::ortgagor and ot'ner parties for the purpose of making any of the Improvements,' ; ~ ~ gaoK 183 PAGE 641 ~ . ~ ~ - r _ ~ ~ - _ _ ~ _ - .