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HomeMy WebLinkAbout1446 . ' ~ • ' ~ (c) to make and enter into additional contracts and incur obligations for the purposes of co~pleting the Improvements pursuant to the obligations of the Mortgagor hereunder, either in the name of the Mortgagee or the Mort- gagor, and (d) to pay and discha~ge all debts, obligations and liabilities incurred by reason of any ac~ion taken by the Mortgagee as provided in this Paragraph, all of which amounts so paid by the Mortgagee, with inter- e9t thereon from the date of each such payment, at the rate of three per- cent (3~) per annum, shall be payable by the Mortgagor to the Mor~gagee on demand and shall be secured by this Mortgage. 4. No building or other structure or improvement, fixtare or per- sonal property mortgaged hereby snall be removed or demolished without the prior written consent of the Mortgagee. The Mortgagor will not nake, permit or sufier 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, exeept the improvements required to be made pursuant to Paragraph 3 hereof, nor will the Mortagor I~QP _ [1T' rQrmi t Al'~ Q»ffnr i-1~n Iti`0 Af'' fl~t~ nf ?~m m~t~~Frre~reeri rv~~-~n~~w~~r Owv~ r.v~~~ • - - - . -'-'v =o==o=- 'r-:r,._ :J ...»v _ purpose other than the purpose or purposes for which the same is now in- ~ended to be used, without .the prior written cousent of the i~iortgagee. The Mortgagor will maintain the mortgaged property in good condi~ion and state of repair and will not suffer or permit any waste to any part thereof, and will promptly comply with all the requirement~ of Federal, state and ~ local governments, or of any departments, divisions or bureaus thereof, pe~t~a._x~ing_ ~Q__s_~c~- _-~ro~er~:y-or_ ~ny__~~,rt_th~reQ~_} - - 5. The Mortgagor will not voluntarily create, or permit or suffer to 'oe ereated or to exist, on or against the mortgaged property, or any part thereof, any lien s~aperior to the lien of this Mortgage, exclusive of the ' lien or liens, if any, to which this Mortgage is expressly subject, as set i forth in the granting clause above, and will keep and maintain tbe same ~ free from the clains of all parties supplying labor or materials which will ~ k enter into the construction or installation of the Improvements. 4 ~ 6. (a) The Mortgagor will keep all buildings, other structures and ° improvements, including equipment, now existing oZ which may hereafter be ~ erected or installed on the land mortgaged hereby, insure~ against loss by F _ e ~ ~ire and other hazards, casualties and contingencies, in such amounts and ~ manner, and for such periods, all as may be required from time to time by ~ t'ne I~iortgagee. Unless otherwise required by the Mortgagee, all aucb in- ~ surance shall be effected by Standard Fire and Extended Coverage Insuranee ~ ~olicies, in amounts not less than necessary to comply with the coinsur- ~ ance clause percentage o~ the value applicable to the location and charac- g ` ter of the property to be covered. A~.1 s cu h insurance shali be carried in ~ ~ companies approved by the Mortgagee and all policies therefor shall be in : such form and sY:all have attached thereio loss payable clauses in favor ~ ; o~ the i~Iortgagee and~ any other parties as shall be satisfactory to the r ~ ::ar~gagee. All such policies and attachments thereto shall be delivered t _ _~romptly to the ;~ortgagee, unless they are required to be delivered ta the w :oider of a lien of a mortgage or similar instrument to which this Mort- ~ r Gage is e~pressly subject, in which latter event certificates thereof, ~ ~ ° R 183 P~1445 600K s • . ~ ~ , . - ~ - _ - : ~ ~ - _ . _ . . . _ _ .