The URL can be used to link to this page

Home My WebLink About0505 - j - . ~c) to ~ake and enter into additional contracts and incur obligations for ~:e purposes oi completing the Improvements pursuant to tr:e obligations of ~'ie Mortdagor hereunder, either in the name of the :~:ortgagee or the N:ort- Gagor, and (d} to pay and discharge al1 debts, obligations and liabilities ::~curred by reason of any action taken by the Mortgagee as provided in ~::is Psragraph, all of'which amounts so paid by the Mortgagee, with inter- ~st thereon fron the date of each sucn payment, at the rate of three per- ~ent (3~) per annum, shall be payable by the Mortgagor to the Mortgagee on u2mand and shall be secured by this Mortgage. 4. Yo building or other structure or improvement, fixture or per- ~~nal property nortgaged 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 s~ructure or impr~vement now or which may hereafter be erected or installed ::~~n the mortgage3 pr~perty, or any part thereof, except the improvements ~z~~aired to be nade pursuant to Paragraph 3 hereof, nor will the Mortagor ::se, or percait or svffer the use of, any of the mortgaged property for any :,•arpose other than ~he purpose or purposes for which the same is now in- ~~~::ded to be used, without the prior written consent of the Mortgagee. ;:~e IYiort~a~or wiii r~ain~ain t:~e ~~ortgaged property in good condition and~ :;tate of repair and will not sufzer or permit any waste to any part thereof, .:.::d will pro~ptiy comgly wi~h all the requirements of Federalf state and ~~;:al goverraents, or of any departments, divisions or bureaus thereof, ~~rtaining to suc~~ property or any part thereof. 5. mhe ,Iortgagor will not voluntarily create, or permit or suffer to ~~e created or to exist, on or against the mortgaged property, or any part , -:~ereof, any lien superior to the lien of this Mortgage, exclusive of the ~ - ; ~~en or liens, if any, to which this ~Iortgage is expressly subject, as set ~ ; ~~rth in the granting c?ause above, and will keep and aaintain the same ~ ~~ee from the claims of all parties supplying labor or materials which will i g ~-:.~er into the construction or installation of the Improvements. 6. (a) ihe ::ortgagor will keep all buildings, other structures and :~.~~roveoents, including equipment, now existing or which may hereafter be -:~~e~ted or instailed on the land mortgaged hereby, insured against loss by ~_~e and other hazards, casualties and contingencies, in such amounts and :::~Y:rrer, a::a ~or suc~: peri~ds, all as may be required fron-time to time by -=-.e :~Iortgagee. 'Jnless otherwise required by the Mortgagee, aIl such in- :.~~ance sha~i be efiected by Standard Fire and Extended Coverage Insurance _~-~icies, ir. a~ounts not less than necessary to comply with the coinsur- - ~::.~e clause ~ercentage of the value applicable to the location and charae- - ~ o~ ~tne pro:erty to be cavere~. ~,,]1 such insurance shall be carried in ~ ~K , ~ :~anies a;proved by the i~Iortgagee anc~ all policies tY;erefor shall be in ; ~ iorm and ~?:aZl nave attached thereto loss payable cZauses in favor ~ i 3 ~ ~he ;for~gagee and any other parties as shall be satisfactory to the .:~~~~a~ee. rl~ such p~licies and attacnnents thereto shall be delivered _~:,.~ptly t:, zhe ;~.ortgagee, unless they are required to be delivere3 to the :.~~3er of a ~ien of a mortgage ar similar instrument to which this Mort- ~a~e is e:cpress~y subject, in which latter event certificates thereof, ~i~? ~ 505 • - - ~ ~ y. 9_ x ..;.,ti_ ~ ~ ~ =.z ~