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HomeMy WebLinkAbout1246 i - 2 - $seigned to tbe Mortgagee and are deemed a part oi the propertiy mortgeged hereby, a~d tbe Mortgagee ie hereby authori$ed to oolleot and-reoeive tbe proceeda o! euob gwarde, to give proper reaeipte and acquittanoee thereior, and to apply the eame toward tbe payment oi the indebtedneee ~eoured by thia Mortgage, notwitbetanding tbe Yact that tbe amount owing thereot~ may not then be due ~nd payable; and tbe Mo~ctgagor bereby agreee, upo~ requeet, to make, execute and deliver eny a~ad all aeeignmente snd otber inetrumenta. sufficient for the purpoee of aeeigni~g eacb eucb award to tbe Mortgagee, free, clear and diecbarged of a~y encumbrancee of any kind o~c nature whateoever; and ~ - ° TOGETHER with all right, title and interest of the Mortgagor in and~to the land lying in the atreeta and roads in front of and ad3oining tbe above described land (all the above deecribed land, buildinge, other structuree, • fixtures, articlee of peraonal property, awarde a~d otber rights and in- terests being bereinafter collectively called tbe "mortgaged property"). TO AAVr AND TO HOT,D the mortgaged property and~every part tbereof unto the Mortgagee, ite succeseors and aeeigne ~orever fnr the p~rpoeee and uee~e herein set forth. AND the Mortgagor furtber covenante and agreea with~the Mortgagee, ae followe: ~ 1. Tbe Mortgagor will promptly pay the principal ot and intereat on ~ the indebtednese evidenced b~r the Aote, and all otber cbargee and indebted- nesa provided therein_a~d in tbie Mortgage, at the timee and in tbe manner provided in the Note and in thia Mortgage. _2. Tbe Mortgagor will pay wben due,-ae bereinafter provided, all ground rente, if any, and all taaes, aeeeeemente, water ratea and-otber governmental chargee, finee and impoeitione, oY every kind and nature whataoever, now or hereaYter impoaed on tbe mortgaged property, or any part ' thereoY, and will pay when due every adio~nt of indebtedness eecured by any i . . j lien to which tbe l~ien oY thie Mortgage ie eapreasly aub~ec~.. ; _ - ~ 3. This Mortgage and tbe Note were eaecuted and delivered to secure ~ ! moneya advanced in full to the Mortgagor by the Mortgagee ae or on account of a loaD evidenced by the Note, for tbe purpoee-of making the improve- mente.deecribed or referred to in the Final work W~Cite-y~e and Bid 8heete ~ dated March 23, , 19'~0,~, to or op the mort- gaged property, and for sucb otber purpoae,~if any, descri~ed or referred to therein, which improvements are bereinatter collectively.called "Im- provemetite". Tbe Mortgagor eball make or cauee to be made all the Im- ~ pr~vementa. ~If the conetruction or inetallation oi tbe ~mprovemente sball ~ not be carried oat with reaeonable diligence, or ehall be diecontinued at any time for any reeeon, other than etrikes, lock-oute, acts oY God, firee, floods or other aimilar cataetrophiea, riote, war or ineurrection, tbe Mortgagee after due ~otice to tbe Mortgagor ie hereby authori~ed (e) to enter upon tbe mortgaged property and employ any watchmen to protect the Improvements lrom depredation or in~ury and to preserve and protect euch property, (b) to carry oc~t aDy or all then ezieti~g contracte between tbe l~ortgagor and otber partiea ior tbe gurpoee ot making any ot tbe Improvemente, ~i86 ~i244 - _ . .