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HomeMy WebLinkAbout2292 - 2 - ::~si~ned ~o the ~:ortga~ee and are deemed a part of the property mortoaged ::ereby, an3 the Yortbagee is hereby authorized to collect and receive the :~~~ceeds oi such awards, to give proper receipts ~nd acquit~ances therefor, ~:~d to apply the sane toward the payment of the indebtedness secured by ~:.is ~iort~aoe, notwithstanding the fact that the a.mount owing thereon may ::~t tnen be due and payable; and t~e Mortgagor hereby agrees, upon request, ~a'~e, execute and deliver any and all a~signments and other instruments ~ ~~fficient ior the purp~se of 3ssigning each.~such award to the ~ortgagee, ~ree, c2ear and discrarged of any encumbrances of any kind or nature w~atsoever; and TOGETfiER «ith ~11 r~ght, title and interest of the Mortgagor in and to ~`:e land lying ir~ the streets and roads in front of and adjoining the above ~zscribed land (all the above descr~bed land, buildings, other structures, ~~xtures, ar~icles of personai property, awards and other rights and in- ~erests being hereinafter collectively called the "mortga~ed property"). TO :IAVL ~vD TO HOZD the mortgaged property and every part ther~of unto ~~e MortgagEe, its successors and assigns fnrever for the purposes and uses :erein set forth. A~vD the Mortgagor further covenants and agrees with the Mortgagee, as ~~llows: 1. The Mortgagor will promptly pay the principal of and interest on ~:e indebtedness evidenced by the ~Tote, and all ozher charges and indebted~ ::ess provided therein ar.d in this Mortgage, at the times and in the manner ~~~vided in the vote and in this Mortgage. 2. The ti:ortgagor will pay when due, as hereinafter provided, all ; ~~~ur.d rents, if ar.y, and alI taxes, assessments, water rates and other `~vernnental charges, iines and impositions, of~every kind and nature ~:::.a~so~ver, now or nereafter imposed on the mortgaged property, or any part ~::ereof, and will pay when due every amount of indebtedness secured by any ~ ~ ~~:en to wnic; the lien o~ this Mortgage is expressly subject. 6 F ~ 3. This ;~:ortgage and the Note were executed and delivered to secure ~ ~ ~~neys advanced in full to the Mortgagor by the Mortgagee as or on account c ~ a loan evidenced bf the Note, for the purpose of making the improve- ~ _~~r. ~s _described or referred to in the Fina 1 kTork Wri te-T'Q a,sd Cos ~ Es ~~ma tg,~ ~ f,r, 81 B i d Shee ts dated l~u~zus t 1C , 19 70 , to or on the mor~- .~~ged property, and for such other purpose, if any, described or referred ~ ~ t:~erei:~, whic~: i~provements are hereinafter collPctively called '~Im- ~ _.i~ve~er:~s". ~he i~;ortgagor shail make or cause to be made all the Im- ~ -_:,ve~ents. I~ ~he construction or installation of the Improvements shali be ca~r:ec out with reasonab2e diiigence, or shali be discontinued at s ~s~.f t~We ior a::y reaso:~, other than strikes, Iock-outs, acts oi God, fires, ~ _ _ r ~ : _ ~_~oc;, o~.,er si~ilar catastrophies, riots, war or insurrection, the i ~ ~ :_~~~aagee a~ter aue not?ce to the .~iortgagor is hereby authorized (a) to ~ ~ ~er , t'rle .~or ~gaged property and employ any watchmen to protect the ~ ~ ~_:.-,rove~,envs ~ro : de~redation or ir.jury and to preserve and protect suc'n fFt ~ --~~~er~;~, (~i to carrf out any or al~ then existing contracts between the ~ - ~ :•::,r~ga~cr a::d otr:er parties for the purpose of oaking any of the improvements, ` ~ ~ ~ 600K 1 V ~ PACE ~?~.?v'„ ~ , _ ~ ~ p_~s. ~~~.~:~.-.:A ~..~~m~~_r~~~~ .