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HomeMy WebLinkAbout0968 . _ .3 _ . (c) to ~a'~ce and enter into additional contracts and incur obligations for ~ ~ ~~e p~:rposes of corrleting the Improvements pursuant to the oblioa~ions of ~he ~iort~a~or hereunder, either in the name of the ~iortgage~ or the rlort- ~agor, and (d) to pay and discharge all debts, obligations ur.d liabilities~ =ncurred by reason of any action taken by the Mortgagee as provided in this Paragrapn, a?1 ~i which amounts so pa,id by the i~ortgagee, with inter- est thereon frora the date of each such payment, at the rate of three per- cent (3~) per annum, shall be payable by the Mortgagor to the Mortgagee on denand and shall be secured by this Mortgage. 4. No-building or other structure or improvement, fixture or per- sonal property mortgaged hereby sha?1 be removed or demolishzd without ~ the prior written consent of tY~e Mortgagee. The riortgagor will not make, permit or suf~er any alteration of or addition to any build~ng or other structure or imurovement now or which may rereafter be erected or install~d. u~on the mcrtgaged property, or any part thereof, except the improvements ~ required to be made pursuant to Paragraph 3 hereaf, nor will the r:ortagor Nse, or permit or suffer the use of, any of the mortgaged property for any ~ ~urpose other than the purpose or purposes for which the same is now in- ~ended to be used, without th~ prior written consent of the Mortgagee. _ ~he i~ortgagor will maintain the mortgaged property in good condition and state of repair and will not su~fer or permit any waste to any part thereof, and will promptly conply witih all the requirements of Federal, state and local governnents, or of any departments, divisions or bureaus thereof, ~~rtaining ~o suc~'properiy or any part thereof. ~ 5. The Mortgagor will not voluntarily create, or permzt or suffer to ' be created or to exist, on or against the mortgaged property, or any part i ~ ! thereof, any lien superior to the lien of this Mortgage, exciusive of the I E ~ien or liens, if any, to which this :~~rtgage is expressly subject, as set ~ ~orth in the granting clause above, and will keep and naintain the same ~ ~ iree from the claicas of all parties supplying labor or materials which will enter into the construction or installation of the Improvements. ~ 6. (aj T?~e N~ortgagor will keep all buildings, other structures and ~ ~~provemer.ts, inc?uding equipment, now existing or which may hereafter be erected or installed on the land mortgaged hereby, insured against loss by ~~re and other hazards, casualties and contingencies, in such a.mounts and wanner, anc for such periods, all as may be required from ti~e to time by ~ i ~::e Mortgagee. Unless otherwise required by tY:e Mortgagee, all such in- ~ surance shall be efiected by Standard rire and Extended Coverage Insurance ~ ~ ~ .~licies, in anour,ts not less than necessary to comply with the coinsur- ~ G:~iCe clause percentage oi the value applicable to the location and charac- ~ _ ler of the property to be covered. All such insurance shall be carried in ~ companies approved by the Nortgagee and all policies therefor shall be in ~ . ~u~~~ for~ ar•d s~all have attached thereto loss payable clauses in favor ~i the i~or~~agee and any other parties as shall be satisfactory to the ~ :•:crtgagee. pll suc: policies and attachments thereto shall be delivered ~ ~~~~~tlf ~,c tY~e ?:or~gagee, unless zhey are required to be delivered to the ~ ~ ~:~lder cf a lien oi a nortgage or si~ilar instrument to which this Mort- ; ~age is expressly subject, in which latter event certificates thareof, ~ 800« ~83 ~ 96? - ~ t 'NL = ' ".y. - . . . . _ . . . - . . `;,~:z'"