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HomeMy WebLinkAbout0227 • . . _ ~ . _ 3 _ (c) to ma'~e and en~er into additional contracts ana incur obli~ations for ~t:e purposes of ~oapleting the Improvements pursuant to the obligations of ~~:e ~iortgagor hereunder, either in the name of the Mortga~ee or the Mort- ~3~or, and (d) to pay and discharge all debts, obligations and liabilities i :ncurred by rEason of any action taken by the Mortgagee as providEd in t~is Paragraph, all of whicY~ amounts so paid by the Mortgagee, with inter- est thereon from the date of each such payment, at the rate of three per- ~ent (39~) per annum, shall be payable by the Mortgagor to the Mortgagee on - demand and shall be secured by this Mortgage. No b~~ilding or other structure or improvem~nt, fixture or per- sonal praperty mortgaged hereby shall be removed or demolished without ; ? ~:~e prior written consent of the Mortgagee. The Mortgagor will not make, ~ ~ermit or suffer any alteration of or addition to any building or other ' structure or improvement now or which may hereafter be erected or install~d. ; u on the mort a ed ro ert or an~ art thereof exce t the im rovements ~ P g g P P Y~ Y P ~ P P ~ required to be made pursuant to Paragraph 3 hereof, nor will the Mortagor ; a use, or permit or suffer the use of, any of the mortgaged property for any ~ Uurpose other than the purpose or purposes for which the same is now in- tended to be used, without the prior written consent of the ~Iortgagee. ~he Mortgagor will maintain the 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, ~s pertaining to such~property or any part thereof. ; ~ ; 5. The Mortgagor will not voluntarily create, or permit or suffer to ; be created or_to exist, on or against the mor~gaged property, or any part ~ ~hereof, any lien superior to the lien of this Mortgage, exclusive of the : ~ a ! ~ien or liens, if any, to which this Mortgage is expressly subject, as set ~ , ~orth in the granting clause above, and will keep and maintain the same ~ ~ree from the claims of all parties supplying labor or materials which will ~ enter into tne construction or installation of the Improvements. ~ b. (a) The Mortgagor will keep all buildings, other structures and i~provements, including equipment, now existing or which may hereafter be ~ erecteci or installed on the land mortgaged hereby, insured against loss by ~ire and other hazards, casualties and contingencies, in such amounts and ~anner, and for such periods, all as may be required from time to time by ~ ~:~e Mortgagee. Unless otherwise required by the Mor~gagee, all such in- surance shall be ef~ected by Standard Fire and Extended Coverage Insurance ~olicies, in amounts not less than necessary to comply with the coinsur- ance clause percentage of the value applicable to the location and charac- ~er of the property to be covered. All such insurance shali be carried in co~.panies approved by the Mortgagee and all polieies therefcr shall be in :=uch form and shall have attached thereto loss payable clauses in favor ' t'r:e :yiortgagee ar.d any other parties as shall be satisfactory to the ::or~oaoee. All such policies and attachnents thereto shall 'ae delivered ' ~r~Qptiy to the Yortgagee, unless they are required to be delivered to the ± :~lder of a lien oi a mortgage or similar instrument to which this Niort- ~,age is expressly subject, in which latter event certificates thereof, . d00K 1~~ PAGE z28 - - = - ~ 4 '