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HomeMy WebLinkAbout1638 ~ , ~ . _ 3 _ (c) t~ ~a':ce and enter into additional contracts a~d incu~ o~ligations for ~~e purposes of completing the Inprovements pursuant to the obligatior,s of the Mort~agor nereunder, either in the name of the ~ortga~ee or the Mort- oagor, and (d) to pay and discharge all debts, obligations and l~~bilities ~ncurren by reason of any action taken by the ~ortgagee as provided in tnis Parabraph, all of ~ahich amounts so paid by the P~ortgagee, with inter- ; e~t there~n fro~ the date of each suc~ payment, at the rate of three per- ~ i ~ent (3p) per annun, shall be payable by the Mortgagor to the Mortgagee on ~ demand and shall be secured by this Mortgage. 4. yo building or other structure or improvement, iixture or per- sonal propzrty mortgaged hereby shall be removed or demolished without ~he prior written consent of the Mortgagee. Tbe Mortgagor will not make, • ~ermit or suffer any alteration oi 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 Mortagor f use, or per~it or suifer the use of, any of the nortgaged property for any ~ ~urpose other t~an the purpose or purposes for which the sa.me is now in- ~ ~ended to be used, without the prior written consent o~ the ~Zortgagee. i The Mortgagor will maintain t'ne mortgaged property in good condition and state of repair and will not suffer or permit any waste to any part thereof, and will promptly comply 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. The ~ortgagor will not voluntarily create, or perm~t or suffer to ce created or to exist, on or against the mortgaged property, or any part thereof, any lier. superior to the lien of this ~ortgage, exclusive of the lien or liens, if any, to which this Mort~age is expressly subject, as set ~orth in the granting clause above, and will keep and maintain tbe same I ~ree from the claims of all parties supplying labor or materials which will : enter into the construction or installation of the Improvements. ~ ~ t 6. (a) The rlortgagor will keep all buildings, other structures and ~ ~mprove~ents, including equipment, now existing or which may hereafter be ~ ( erected ar installed on the land mortgaged hereby, insured against loss by ~ iire and other hazards, casualties and contingencies, in such amounts and ~ Wanner, and for such periods, all as may be required from tine to time by ~ t:~e Mortgagee. Unless otherwis~ required by the Mortgagee, all such in- surance shall be effected by Standard Fire and Extended Coverage Insu~ance ~olicies, in ar~ounts not less than necessary to comply with the coinsur- ance clause percentage of the value applicable to the location and charac- ~er o~ tr,e property to be cavered. All such insurance shall be carried in companies a~proved by the Mortgagee and all policies therefor shall be in suc~ fcr~ and shall have attached thereto loss payable clauses in favor the ::or~gaoee and any other parties as shall be satisfactcry ~o the :~:~rtgagee. ~11 such policies and attachments thereto shall be deiivered ~ro,~~tiy ta thz ~ortgagee, unless t~ey are required to be deliver~d to the ; ~ ::older of a lien of a mortgaoe or similar instrument to which this Mort- ! ~ oage is expressly subject, in which latter event certificates thereof, # gooK184 ~~1635 _ ~ _ - _ ~ _ _ . - _ ..,~y~.