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HomeMy WebLinkAbout0419 _3_ . (c) to make and enter into additional oontraate and incur obligatione ior , the purpoeee of completing tbe Improvemente pureuaot to the obligatione o! the Mortgagor bereunder, either in the neme o! the Mortgagee or the Mort- gagor, and (d) to pay a~d dieoharge all debte, obligatione and liabilitiee incurred by reaeon ot any action taken by the Mortgagee ae provided in thie Paragrapb, all of which amounte eo paid by~the Mortgagee, with inter- est tbereon from the date oY each euch payment! at the rate of ~three per- cent (3~) per annum, shall be payable by the Mortgagor to tbe Mortgagee on demand and ehall be eecured by thie Mortgage. _ 4. No building or~otber etructure or improvement, fixture or per- sonal property mortgaged hereby ehall be removed or demoliehed without the prior written coneent o~ the Mortgagee. The Mortgagor will not make, ~ permit or suffer any alteration of or addition to any building or other structure or fmprovement now or which may hereaYter be erected or inetalled upon the mortgaged property, or any part thereof, eacept the improvemente ~equired to be made pur$uant to Paragraph 3 hereo~, nor will tbe Mortagor ~ use, or permit or sutfer the uae of, any ot the mortgaged property for any purpoae other than the purpose or purposea for which the eame ia now in- tended to be uaed, without the prior written coneent of the Mortgagee. The Mortgagor will maintain the mortgaged property in good co~dition:and ~ state of repair and will not euffer or permit anq waete to.any part thereof, and will promptly comply with all tbe requiremente of Federal, etate and ~ s local governments, or of any departmente, divieiona or bureaue tbereaf, ` pertaining to such~property or any part thereof. 5. The Mortgagor will ~ot voluntarily create, or permit or suffer to be created or to eaiet, on or againet the mortgaged property, or.any part thereof, any lien euperior to the lien of thie Mortgage, egclusive of the lien or liena, if any, to wbich this Mortgage ie eapreesly sub~ect, as set fortb iD the grantfng clauee above, and will keep a~d maintain tbe same free from the claime of all partiee eupplying labor or materiale which will enter into the conetruction or inetallation of the Improvemen~e. ~ ~ 6. (a) The Mortgagor will keep all buildings, other etructures and ` improvementa, iticludin~ equipment, now exieting or which may hereaYter be erected or inatalled on the laud mortgaged hereby, insured againat loea by iire and other hazarde, caeualtiee and contingencies, in euch amounts~and manner, and for such periode, all as may be required Yrom time to time by t'ne Mortgagee. IIulees otberwiee required bq the Mortgagee, all such in- surance aball be effected by Standard Fire and Eatended Coverage Insurance policies, in amounts not leee than neeeaeary to complq with tbe coineur- ~ ance clause percentage of the value applicable to the locatio~ aDd charac- ~ ~er of the property to be covered. All euch ineurance sball be carried in. ~ companiea approved by the Mortgagee and all policies tbereior ehall be in ~ , ~ such form and shall_have attached thereto loee payable clauees in Yavor ~ o~ the Mortgagee and any otber partiee ae ahall be estiefactory to the ::ortgagee. All auch policiee~and attachmente thereto ehall be delivered ~ ~~romptly to the Mortgagee, unleee they.are required to be delivered to the ~ ~ ~~older oY a liep of a~ortgage or eimilar iuetrument to wbich thie Mort- ~ , gage ie expreasly eub~eet, in wbiob latter event certiYiastee thereot, ~ ~ ~ 600K 10V P ~18 ' - - . . -