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tlle sanc; t1~at the mortgaged orer.?ises are free and clear of
all encumbrances, except builciing and use restrictions of record,
if an~?, zoning ordinances, if any, and taxes and assessments
not yet overdue: tliat the ~:ortgagor wi21 make any Further assurances
of title that the riortgag~e may require and tJ11Z warrant and
defeiid said mortgaged oremises against a12 la~aful claims and
demands ~•hatsoever.
3. Mortgagor ~.~ill pay the indebtedness hereby secured
and interest thereon pr.om~tly on the da}~s s~ecified for the
same to beco;ne dce and payable, and also on der~and any other
indebtednsss tnat may accrue and become due and payable to
the riortgaqee under the terms and provisions of this ~iortgage.
4. Mortgagor c.~ill keep protected and in good order, ;
repair and conditicn at all times the buildings and improvements -
(including fixtures) now standing or hereafter erected or placed
upon the r;.ortgaged nrerr.ises and any and aIl appurtenances,
apparatus and articles of personal property, including but
not li:~ited to furaiture, furnis'r.ings and equigr;~ent, r.ow or
hereafter placed i;~ or attacned to or used in connaction with
said bui? dings or i:nprove.:~ents , pro:.iptly reolacing any of the
afores~id ~,rhich may become ~ost, destroyed or unsuitable for
use, and ~.?ill keeo insured the aforesaid real and personal
property and the interests a~d liabilities incident to the
ownership t!~ereof, in manner, for:;ts of cov~rage, :orns, cor,tpanies,
sums and length of terms satisfactory to the ~iortgagee; that
all insurance policies are to be ~eld by and, to the extent
of its interests, are to be ior the benefit of and first payable
in case of loss to tne '~iortGagee, ar.d the 4ortgayor shall deliver
to the t•Iortgagee a..new policy as re~lacement for azy expirir.g
policy at least fifteen (15) da~s b~fore t:^.e date of su~h expiration;
that al~ am.ounts recoverable u:~der any policy are hereny assigned
to the 1lortgage~ and ir. t:~e event o~ a loss the anount col2ec~ed
may, at the option of t:~e ti;ortgagee, be used in any one or
more of the follo:•:ing ~ays: (1) arp~ied upon the ir.debtedness
secured herebs~, whether such incebtedn~ss tnen be r.iatured or
unmatured, (2) use3 to zulfill any of the cover.ants contained
herein as the ~lortgage~ r.iay det~r:.i~ ne, (3) ~sed to reolace
or restore the proaerty to t'~e cor.di~io:~ satisfactoa j to the
MortgagAe, or (4) released to the ::ortgagor; the ::ortaagee
is hereby irrevocaaly a~poi :ted by t:;e ~Iortgagor as at*orr.ey
o€ the :~:ortcacor to assiaz any po~'_cy in the event o= the foreclosure
of this :~or~g.~ge or otner exti.^.guis:::,ient o~ the indeAtedness
secured 'nere:.y.
5. I~;ortgagor k•ill not ccr~it or suffer any strip
or waste o€ tY:e :~ortgaye~ prcp~rt;r or any vio? ati~n of any
law, reculatie:~ or erdi :ance a:._`ec~ing tne ::tortgaysd or~~erty
and wi21 r.o~ cc:~~ it o~ suf~~r any de:~oli::ion, re:r.vval ar ma~erial
alte:ation cf a:.y of t:.e bu~ldi:~5s or i.:~ar~ve.:~ents (including
fixtures) cn tze r.:ortc~aqed ~re.:,;ses withcut the ctiritten consent
of the :iort,ac~e, an:: wili :.ot violate nor s~.:fzer tne violatio:~
af the covenants and ag:~e~:ents, if aa}?, of rec~ra against ~
~
~he r~ortgayed pre:~ises. ;
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