Loading...
HomeMy WebLinkAbout1098 6. rlortgagor wi 11 pay before delizi~uent or before any penalty for nonpayment attach thereto, all Cax~s, assessments and charges of every nature and to whomever assessed ttiat maY no« or hereafter be levied or assessed upon t;~e mortgaged premises or any part tt~ereof, upon the rents, issues, inco:ne or profits thereof, upon ~~~e licn or estate hereby created, whether any or a21 of said taxes, assessments or charges be levied directly or. indirectly or as excise taxes or as income taxes, and will thereupon submit to the ~fortgagee such evidence of the due ~ and punctual payment of such taxes, etc. as the ~i~rtgagee may require, and :?lortgagor will also pay all taxes, assessnents or charges whicii may be levied on the ~ote s~cured hereby, or the interest thereon, excepting the federal and state income taxes imposed upon the i.nterest payable thereon. 7. If riortgagor shall neglect or refuse to keep in good repair the property referred to in paragraph 4, to replace the same as therein agreed, to maintain and pay the premiums for insurance cahich may be required under paragraph ~t or to pay and 3ischarge s?1 taxes, assessments and charges of every nature and to whomever assessed, as provided for in paragrapn 6, the ~lortgagee ma}?, at its elect~on, cause such repairs or reolacements tv be made, oatain such insurance or pay said taxes, assessments and charges and any amounts paid as a result thereof, toget;er with interest thereon at the rate of tcti•e2ve and one-naif per cent (12 1/2$) per annu:r? from the date of payment, sha21 be im.~ediately dLe and pavable by the Mortgagor to the ~iortgage~, and unti? paid snall be ad~ed to and becoMe a part ot the principal uebt secured hereby, and the same may be coilected as a part of said principal 'debt in any ~ suit hereon or upon the note; or the Mortgagee, by the payment ; of any tax, assessment or czarge, may, if it sees fit, be thereby i subrogated to the rights or the State, Coun~y, Village and all political or governr~2nta1 subdivisions. \o such advances shall be deemed to relieve the :Iortgagor from any default hereunder or impair an}• rignt or xe:r.eay conseuueni thareor., and the exercise of the rights ~o ma:ce acvances granted in tnis paragraph shall be optio:~al :•:ith t:e licrtgagee and not obligatory and tne Mortgacee shall not in any casz be liahle to the :3ortgagor ror a failure to exercise any such right. i 8. *lortgagor will pay a12 sums, the failure to pay which r:iav result in the acquisiLion of a lien prior ~o the lien of _ tt-:is r~~or~cac~ be~ore suc: a pr;or lien r.lay attacn or :vhich may result in conferr~ng up~n a teaant of a;:y part of t:~e mortgaged pre~ises a ria:.t co recover s~;ch suns as prepaid rent. 9. :~ior*_cacee snal:, be subrogated for furt~:er securit:: to the lien, alt:,ocgn released oF record, of any ana all encum- brances ~aid out of thc proceeds o~ the Ioan secured by this mortgage. 10. rl~hat, if an1 act~~n or proceeding be cor~,menced (exce~t~r,g ar: actio : to ~or~ c? ~se ~his mortgage or to co2lect the debt l:ereoy sEC;:reci) , to which action or proceeding the . ~ , ~ -3- _ ~ . , 80~~ 19i IQg6 ~ . _ _ - ~ A.