Loading...
HomeMy WebLinkAbout0977 ~ - ~j - ~ (c} to ~ake and enter into adaitio~al contracts and incur o~ligations for ~~:e purposes of completin; the Iraprovements pursaan~ to the obli~ations of ~he Mortgagor hereunder, either in the n~me of the i~ortgagee or the irort- ; gagor, and (d) to pay and discharge all debts, obligations and li2bilities # incurred by reason of ar.y action taken by the Mortgagee as prov;ded in ` this Paragraph, all o~ which amounts so paid by the Mortgagee, ~~rith inter- est thereon from the date of eaeh, such payment, at the rate of three per- ~ cent (3~) per annum, shall be payable hy the Mortgagor to the Aiortgagee on cecaand and shall be secured by this Mortgage. 4. No building or other structure or improvement, fixture or per- sonal property mortgaged hereby shall be removed or demolished without ~?~e prior ~~ritten consent of the T~iortgagee. ihe Mortgag~r will not make, ~ermit or suifer any alteration of or addition to any building or other structure or improvement now or which may hereafter be erected or install~d , upon the mortgaged property, or any part thereof, except the improvements required to be made pursuant to Paragraph 3 hereof, nor will the i~iortagor use, or per~it or suffer the use of, any of the mortgaged property for any purpose other than the purpose or purposes for which the same is now in- ~ended to be use3, without the prior written consent of the 3~Iortgagee. ~~he Mortgagor will ma~ntain the mortgaged property in good condition and state of repair and wiil not suffer or permit any waste to any part thereof, ~ and will promptly conply with all the requirements of Federal, state and local governments, or of any departments, divisions or bureaus thereof, pertaining to suc~'property or any part thereof. 5. lhe ivlortgagor w~ll not voluntarily create, or permit or suffer to be created or to exist, on or against the nortgaged property, or any part j ~hereof, any ~ien superior to the lien of this Mortgage, exclusive of the f ~ien or liens, if any, to which this Mortgage is expressly subject, as set iorth in tY:e granting clause above, and will keep and maintain the saae iree from t'ne claims of all parties supplying labor or mater~als which will enter into the conszruc~ion or installation of the Improvements. 5. (a) The Niortgagor will keep all buildings, other structures and improvements, including equipment, now existing or which may here.after be ~ e~ected or installed on the land mortgaged hereby, insured against loss by ~ ~ire and otner hazards, casualties and~contingencies, in such a.mounts and ~:anner, and for suc'n periods, all as may be required from time to time by ~'~e Mortgagee. Unless otherwise required by the Mortgagee, ali such ir.- ~ ;urance shall.be efiected by Standard Fire and Extend2d Coverage Insurance ~ :,~licies, in aaounts not less than necessary to comply with the coinsur- ~ - . ~ ~~ce clause percentage o~ the value applicable to the location and charac- _ ~er o~ tr,e nroFerty to be covered. All such insurance shall be carried in - ~~~par,ies a~proveci by ~he Iriortgagee and all policies therefor shall be in ~ ~uc:; ~orL and s'r,all have attached thereto loss payable clauses in favor r ~ :,i ~he ;iortoagee an3 any ot'aer parties as shall be satisfactory ta the ' ~ ~ :_crt~aoee. A1~ suc.~ policies and attacY,ments thereto shall be delivered ~ ~~=o~~~ly tc tr~e :.ortgagee, unless tY,ey are required to be delivered to the ~ ~ # ~:oiaer cf a ~ier, of a mortgage or similar instrument to which this Mort- _ , ~ =y vaoe ~s expressly subject, in which latter event certificates thereof, ~ ~ ~ . ~ a00lc ~SJ PJ16E _ , ~ _ - _ _ _ _ .