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HomeMy WebLinkAbout2293 . . - ~ - ~c) to nake an3 enter into additional cor.tracts and incur obligations for :-:e purposes of completing the Improvements pursuant to the obligations of -:ze rior~gagoL hereunder, either in the name of the 1~Iortgagee or the Mort- ,;~~or, and (d) to pay and discharge all debts, obligatians and l~abilities ~;;curred by rea~on of any action taken by the Mortgagee as provided in ~::is Paragraph, all oi which amounts so paid by the Mortgagee, with inter- ;-st thereon from the date of each such paynent, at the rate of three per- ~ent (3p) per annum, shall be payable by the Mortgagor to the Mortgagee on ~e~and and shall be secured by this Mortgage. ` 4. No building or other structure or improvement, fixture or per- ~~nal praperty a~ortgaged hereby shali be removed or demolished without ~~~e prior written consent of the Mortgagee. The ~iortgagor will not make, ~~~rmit or suffer any alteration of or addition to any building or other ~~ructure or improvement now or which may hereafter be erected or installed , 5 ::~~n the nortgaged pr~perty, or any part thereof, except the improvements ~•eeuired to be raade pursuant to Paragraph 3 hereof, nor will the Mortagor ~ ::se, or ~ermit or suffer the use of, any of the mortgaged property for any i -urpose o~ner tran t~e purpose or purposes for which the same is now in- ~ _ ~ -ended to be used, without thE prior written consent of the Mortgagee. ' ~~~::e ti;ortgagor will maintain the mortgaged property in good ~ondition and ~ ~ ~~ate af repair and will not suffer or permit any waste to any part thereof, ? a::d will prc~mptly comply with all the requirements of Federal, state and ~ ^~~~al governments, or of any departments, divisions or bureaus thereof, _ ertaining to suc'.^. ~ property or any part thereof . 5. ~'he Nortga~or will not voluntarily create, or permit or suffer to created or to exist, on or against the mortgaged property, or any part -::zreaf, any l~en sup~rior to the lien of this Mortgage, exclusive of the ' ~.~er. or liens, if any, to wY~ic:~ this ~ortgagE is expressly subject, as set ~ _'~rth in the granting clause above, and will keep and maintain the same i ' ~~ce fron t::e claims of all parties supplying labor or materials which will € ~::~er into t're construction or installation of the Tmgrovements. ~ ~ 6. (a) ~he ~tortgagor will keep all buildings, other s~ructures and ~ ~~.~~cvenents, ir,c~uding equipment, now existing or which may hereafter be ~ _ =~~czed or insta~led on the land nortgaged hereby, insured against loss by _:~e and o~her hazards, casualties and contingencies, in such amounts and ~ :.:~~r,:~er, ana for suc ; periods, all as may be required from time to time by ~ ti_ortgaoee. Uniess otherwise required by the Mortgagee, all such in- ~ ~:~a:~ce s'c.al~ be effected by Standard Fire and Extended Coverage Insurance ~ ~ ' ~ :~~~c:es, in aWounts not less than necessary to co~ply with the coinsur=•-- ; ~~:.ce clause ~ercentage of the value applicable to the location and cr,arac- ~ -_vr o~ tce ~,roperty to be covere~. All such insurance shall be carried in { _~::.~anies approved ty t'ne Mortgagee and all policies therefor shall be in ~ ._s~: `orm ar.~d shall have attached thereto loss payable clauses in favor ' ~ ~ ~=.e ::ort~aGe~ ar:d any otY~er parties as shall be satisfactory to the ~ ~~Loa~ee. n~~ such Nolicies and attach~ents thereto shall be ~eiivered ~ ~ ; ~ _.,~~tl~ ic ~~e i!artgagee, unless they are required to be delivered to the ; ~ ~~der ~f a:.ier, of a mcrtgage or sinilar instrument to which t:~is Mort- _ ~ ~ ~s ex;ressly subject, in which latter event certificates thereof, ~ . ~ ~18~' ~ - ~ - ~ c ~ ry h , n=~_ -,sw r _ . ,