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HomeMy WebLinkAbout1445 ~ ' - 2 - assigned to the Mort~agee and are deemed a part of the praperty mortgaged hereby, and the N,ortgagee is nereby authorized to collect and receive the proceeds of 5uch awards, to give proper receipts and acq~~ittances tl~erefor, and to apply the same toward the payment of the indebtedness secured by this Mortgage, notwithstanding the fact that the amount owing thereo:~ may not then be due and paysble; and the Mortgagor hereby agrees, upon request, to make, execute and deliver any ~nd all assignments and other instruments sufficient for the purpose of assigning each such award to the Mortgagee, free, clear and discharged of a~y encumbrances of any kind or nature ~~hatsoever; and TOGETHER with all right, title and interest of tbe Mortgagor in and to the land lying in the streets and roads in front of and adjoining the above described land (a?1 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 ~ND TO HOLD the mortgaged property and every part thereof unto the Mortgagee, its successors and assigns forever for the purposes and uses herein set forth. ~ AND the Mortgagor further covenants and agrees with the Nlortgagee, as follows: 1. The Mortgagor will promptly pay the principal of and intere~t on the indebtedness evidenced by the Note, and all other chargea and indebted- ne_ss_ _~~ovided therein_.zn~__i__r~ttiis~~~g,~~~,___at__~b_e_times _and_in the manner _ provided in the Note and in this Mortgage. 2. The Mortgagor will pay wY~en due, as hereinafter provided, all ground rents, if any, and all taxes, assessments, water rates and other governnental charges, fines and impositions, of every kind and nature ; whatsoever, now or hereafter imposed on the nortgaged 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 expresslq subject. ~ f 3. This Mortgage and the Note were executed and delivered to secure E ~oneys advanced in full to the Mortgagor by the Mortgagee as or on account ~ of a loan evidenced by the Note, for the purpose of ma.king the improve- ~ ments .described ar referred to in the Work writewps-and-t~ic2 sheets- - : ~ dated November 26, , 19 6~,_, to or on the mort- ~ gaged property, and for such other purpose, if any, described or referred ~ to the~ein, which im~provements are hereinaf~er collectively called ~~Im- ~ provements". The Mortgagor shall make or cause to be made all the Im- ~ ~rovements. If the construction or installation of the Improvements shall ~ 5 r.ot be carried out with reasonable diligence, or shall be discontinued at ~ ~ any time ior any reason, other than strikes, lock-auts, acts of God, fires, : . ; floods or ~ther similar catastrophies, riots, war or insurrection, the ~ ~ i~Iortgagee after due notice to the Mortgagor is hereby authorized (a) to ~ Q enter u~on the mortgaged prop~rty and employ any watchmen to protect the ~ Improvemen~s from depredation or injury and to preserve and protect such > ~ property, (b) to carry out any or all then existing contracts between the ~ y T4ortgagor and other parties for the purpose of making any of the Improvements, ~ ° R 1g3 PAGE 1444 600K Y ~ ' . ~ . - . . _ . _ . ~ fi:~.