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HomeMy WebLinkAbout0985 ~ _ •3 _ . (c) to make an3 en~er into additional contracts and ?_ncur ab~iga~ions for ~~e purposes of conpl2ting the Improvements puxsuant to the obligations of ~he riortgagor hereunder, either in the nane af the Mortgagee or the riort- ~ i oagor, and (d) to pay and discharge all debts, ~bligations,an3 l~abilities ~ incurred b~ reason of any act~on taken by the Mortgagee as provided in ~his Para;raph, all of whic'n amounts so paid by the P~Iortgagee, witn inter- est thereon fro~ the date of each such pa5~~1@Ylt~ at the rate of three per- ; ~ent (3qb) ;er annum, shall be payable by the Mortgagor to the ~Iortgagee on demand and sr.all be secared by tnis Mortgage. i 4. No building or other structure or improvement, fixture or per- ~ sonal property mortgaoed hereby shali be removed or demolished without ~the prior written consent of the i~iortgagee. The Mortgagor will not make, ~ermi~ or suffer any alteration oi or addition to any build~ng or other stiructure or improvement now or which may hereafter be erected or install~d . upon the martgaged property, or any part thereof, except the improvements requ~red to be made pursuant to Paragraph 3 hereof, nor w~ll tY~e Mortagor use, or pernit or su~fer the use of, any of the mortgaged pr~perty for any ~urpose other than tY~e purpose or purposes for which the sane is now in- ~ended to be used, without the prior written consent of the Mortgagee. ~he Mortgagor will nain~ain the mortgaged property in good condition and stiate of repair and will not suf~er or permit any waste to any part thereoY, a:~d ~vill pronptly comply with all the requirements of Federal, state and ~ ~.ocal gavernments, or of any 3epartments, divisions or bureaus thereof, ' j ~ertaining to suc~~property or any part thereo~. ' 5. The i~Iortgagor will not voluntarily create, or permit or suffer to be created or to exist, on or against the mortgaged property, or any part ~ ~ ~hereof, any lien superior to the lien of this Mortgage, exclusive of the f ~ ~~en or liens, if any, to which this ~ortgage is expressly subject, as set ~ f ! ~orth in tY:e granting clause above, and will keep and maintain the same ~ ~ree from the claims of all parties sugplying labor or materials wnich will ~ ~ enter into tihe construction or installation of the Improvements. i ~ ~ ~ 6. (a) Tne ~Iortgagor will keep all buildings, other structures and ~ ~ -~~.pravements, including equipment, now existing or which may hereafter be ~ ~ erected or installed on the land mortgaged hereby, insured against loss by ; ~ iire and otiher hazards, casualties and contingencies, in such amounts and ~ ~:ar.ner, and for such periods, all as may be required from time to time by ; ~ I'f~rtgagee. Uniess otherwise required by the Mortgagee, all such in- ~ ~ ~ ~urance shall be effected by Standard Fire and Extended Coverage Insurance ~ ~~licies, in a~cunts not less than necessary to comply with the coinsur- ~ ~ ~.nce clauss percentage of the value applicable to the location and charac- > : ±er of the pro~erty to 3e covered. All such insurance shall be carried in ; _ c:,npanies ap~ro~ed by the Mortgagee ar.d all policies thereYor shall be in : ~:~ch form an3 shall have attached thereto loss payable clauses in favor ~s the ;%ior~gagee and_any other parties as shall be satisfactory to the ` :~:or~gaGee. P.il suc'.: policies and attacr,ments thereto shall be delivered ~ ~ _ro~ptlJ t~ tY:e ::ortoagee, unless they are required to be delivered to the ~ = i ~~lder of a iien of a mortgage or similar instrument to which this T~ort- - ~aoe is eapressly subject, in which latter event certificates thereof, ~ OR ~ aoox183 ~ 984 : ~ : _ _ - - _ . , , Y . : - W~~. _ _ . _ _ .