Loading...
HomeMy WebLinkAbout1422 _3_ (c) to make and enter into additional eontracte and i~cur obligatione Yor the purpoaes of completing the Improvements pureuant to the obligatiane of the Mortgagor hereunder, either in the oame of the Mortgagee.or the Mort- . gagor, and (d) to pay and diecharge all debta, obligatione and liabilitiee ~ incurred by reason oY any action taken by the Mortgagee ae provided i~ this Paragraph, all oY which amounte so paid by~the Mortgagee, with inter- 4 est thereon from the date of each euch payment, at the rate oY three per- ~ cent (3~) per anrum, shall be payable by the Mortgagor to tbe Mortgagee on demand and ehall be aecured by thie Mortgage. 4. No building or other structure or improvement, fixture or per- sonal property mortgaged hereby shall be removed.or demolisbed without the prior writt_en consent~of the Mortgagee. The Mortgagor will not make, permit or auffer any alteration of or addition to ang--building or other structure or improvement now or which may hereafter be erected or installed upon the mortgaged property, or any part thereof, except the improvemente required to be made pursuant to Paragraph 3 hereo.~, nor will the Mortagor use, or permit or auffer the use of, any of the mortgaged property for any purpose other than the purpose or purposes for which the same ia now i~- tended to be ueed, without the prior written coneent of the~Mortgagee. T~e Mortgagor will maintain the mortgaged property in good condition and state of repair and will not euffer or permit any waete to any-part thereot, and will promptly com~ly with all the requirements of Federal, etate and local governments, or of any departments, divisions or bureaue thereoY, pertaining to such~property or any part thereof. 5. The Mortgagor will not voluntarily create, or permit or suffer to be created or to exiat, on or againat the mortgaged property, or any part ~nereof, any lien superior to the lien of this Mortgage, exclueive of the , lien or liens, if any, to which thia Mortgage ia expressly subject, as set E forth in the granting clause above, and will keep and maintain the eame ~ ~ . ' free from the claims of all partiea aupplying labor or materials which will enter intio the conatruction or inatallation of the Improvementa. 6. (a) The Mortgagor will keep all buildinge, other atructurea and iaprovements, including equipment, now exieting or wbich may hereafter be erected or installed ~n the land mortgaged hereby, inaured againat loas by ~ire and other nazards, casualtiea and contingenciea, in eucb amounte and ~anner, and for such periode, all as may be required from time to time by ~;e Mortgagee. Unlesa otherwise required by the Mortgagee, all euch in- surance sball~be effected bq Stand$rd Fire and Egtended Coverage Insurance ~olicies, in amounts not lesa than necessary to comply with the coinsur- ance clause percentage of the value applieable to tbe location and charae- ~ ~er of the property to be covered. All auch ineurance ahall be carried in ~ ~ompanies approved bq tbe Mortgagee and all policies therefor shall be in such form and shall have attacbed thereto los8 payable clauaea in favor o~ the Mortgagee and any other partiea aa ehall be satiafactory to the Yortgagee. All such policiee and attachmente thereto ahall be delivered ;~romptly to the Mortgagee, unleee they are required to be delivered to tbe ~r,older of a lien of a~ortgage or aimilar inetruraent to wbich thie Mort- gage is expresely eub~ect, in whicb latter event certificatee tbereof, _ ' 800K~~ ~ ~ ~ ` ~ .