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HomeMy WebLinkAbout0984 . - 2 - assigned to the Y~rtgagee and are deemed a part of the property raortgaged aereby, and th~ Mortga;ee is hereby authorized to collect ar_d receive the proceeds of such awards, to give proper receipts and acquit~ances therefor, and to apply the same toward the payment of the indebtedness secured by this Mortgage, notwithstanding the fact that the amount owing thereon may not then be due and payable; and the Mortgagor hereby agrees, upon request, to make, execute and deliver any and all assignments and othzr instruments sufficient for the purpose of assigning each such award to the I~iortgagee, free, clear and discharged of any encumbrances of any kind or nature whatsoever; and _ • TOGETHr,R with all rigY~t, title and interest of the Mortgagor in and to tihe land lying in the streets and roads in front of and adjoining the above 3escribed lan~ (all the above described land, buildings, other structures, fixtures, articles of personal property, awards and other rights and in- terests being hereinafter collectively called the "mortgaged property"). TO HAVE AND TO HOI,D the mortgaged property and every part thereof unto the Mortgagee, its successors and assigns forever for the purposes and uses herein set for~h. AI~ID the irortgag~r further covenants and agrees with the ~Mortgagee, as follows: ~ 1. The i~7ortgagor will promptly pay the principal of and interest on the indebtedness evidenced by the Note, and all other charges and indebted- ness provided therein and in tbis rlortgage, at the times and in the manner provided in the Note and in this Mortgage. 2. The P+Iortgagor wi1Z pay when due, as hereinafter provided, all ground rents, ii any, and all taxes, assessments, water rates and other oovernmental charges, fines and impositions, of every kind and nature ' ~•,natsoever, now or hereafter imposed on t~e mortgaged property, or any part thereof, and will pay when due every amaunt of indebtedness secured by anY ` lien to which the lien of this Mortgage is expressly subject. 3. This Mortgage and the Note were executed and delivered to secure ~.oneys advanced in full to the Mortgagor by the Mortgagee as or on account af loan evidenced by the I~Tote, for the purpose of making the improve- nents describ2d or referred to in tY~e Work write-ups and bid sheets ~ dated October 10. , 19 6~_, to or on the mort- gaged property, and for such other purpose, if any, described or referred to•therein, which improvements are hereinafter collectively called "Im- ~rovemer.ts". The Mortgagor shall make or cause to be made all the ~m- ~ ~rovements. If t'ne c~nstruction or installation of the Improvements shall z nat be carried out with reasonable diligence, or shall be discontinued at ~ any time for any reason, other thar. strikes, lock-outs, acts of God, fires, ~ iloods ~r other similar catastrophies, riots, war or insurrection, the ~ ~ i:ortgagee after due notice to the Mortgagor is hereby authorized (a) to € ~ er.ter upor, tne ~ortgaged property and employ any watchmen to protect the ~ : ~ Inprove~ents from depredation or injury and to preserve and protect such ~ ti_ I ~ proFerty, (o) to carry out any or all then existing contracts between the f ~ .rortgagor and ather parties for the purpose of making any of the Impr~vements,~ ~ ~ ~ ~ BooK 183 P~~E g83 i _ t - _ . . , _ . - . _ _