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Home My WebLink About1099 Mortgac~c~ is mad` a party by rea~on of the execution of this mortgar,e or the r.~te which it secures, or iit ~ohich t:le ~:ortgagee deems it necessar;: to defend in order to uoho2d the lien of tl~is mortgace or the priority thLreof or possession of said mortgaqed premises, all su^s paid or incurred by the ~:ortgagee for counsel ~ fees ar.a o~her ex: ensAs in such action or proceeding slzall be repaid ~y ~he Mor~gagor, together with interest thercon from date o: pa~•ment b.• tha ~Sortgagee, at the rate of twelve and one-ha'_ ~ per cen ~(12 1/2~s ) pe~r annu~, and al l such sum.s and the in~zrest ther~on shall be ir,~-nediately due and payable and be secsred hereb~•, having the benefit of the lien hereb}? created and o~ its priori~y. 11. I~iortgagor agrees that all ac~~ards heretofore or ~ hereafter :~a@e b~: an~~ public or quasi-public authority to the presen~ and all s::bseCUent owners o: the pre:nises covered by this r~~rtgagz by virtue of an exercise of the right of e;?inent domain by such a~~hority, ir.cluding any acYard for a ta;:ing of : i title, possessio:. or right of access to a p~~blic way, or for any change of grade e~ streets affecting said premises, are hereby assigr.ed to t!~e :'~rtgagee; and t:~e ~io~tgagee, at i~s option, is hereby author:aed, directed anG e::~oti.ered to collect and receive the proczads of any such a:.~ar3 and awaras from the authori ~ies maki: g t?:e sa~ne and to aive oroper receipts and acquit~ancas the:~efor, and :iay, at the :•iortgagee's election, use su~~ proceecs in any one or mor~ of the follotcing kays: (1) ap~ly t?~e sa-~ or any nart thereo` upcn the in~ebtedness secure3 hereby, ::aetrer sucn indebtecness then be matured or unmat~=ed, (2) ~:se ti:e same or any part t:~ereof to ~ulfill any o= the cover..: ats contai:.ed herei~ as the Aiortgagee ::~ay deter:~ine, (3) ~:se the same or any part thereof to replace or res~ore the ~=operty to a concitioa satisfac~ory to the Mortga~ee, or (4; release tre sar.ie to tine L:ort~agor; an3 the i~iort5~;or hereb1• covenants and agrees to anc crith the ::ortgagee, upon r~quest by ~~e ~:ortgaaee, ~o r.^.aze, execute and deliver any and aii assign~`::ts and ot'r.er i~stru:.~~nts sufficient for the purpose oi assic::ing all sucz atti~ards to the ~iortgagee free, clear and discha:ged oz any and all encu,~nbrances or any kind or nat;zre whatsczver. 12. :~'.ortgagor will pay to Mortgagee, to the extent reques~ed by t~:e ~ior~gagee, on dates Lpon ::~ic:~ interest is - payab'_~, such a:.~:~n~s as the :•iortgacee =:e:~ ti~:e to tir.le esti+:.~~es as nec~ssar~! ~o cre~~e ar.c *:~ainta~n a reserve fund fror.i :•:zic:~ to ~a:• be`ore t:.e sa^e hecc::~e d•.:e, all taxes, assess- ments, lie :s ar.a c~arges or. or a;ai:.s~ ~~:A pro~ert;~ hereby mortga~~d~ dIZC~ _=2Tit°.~::s ~or 2:ISLlY'd22Ca as is herein covenanted to be =arais}:ec tre ~:ortcag~r. ?Gy~er.ts f=or:. saiC reserve fund =or said ~~:~os~s :~ay ~e naae tae ~:or~gage~ at its disc~~~ioz even ~:.o::gz subse~uent c::•, ers oi tne property descr_~ec: zerei: ~:ay c~r.e~=t there~y. ~n t:~e event o= any defac;~;. L: ~er t::~ terr..s a= t:~is ;nort~ace, any part or all of said r~serve f:: .;,ay ~a aa_~3i~d ~o any par~ o= ~he i:debtecness herew: secured a:::: in re;u:.ci:.g any part of said reserve fund the ,'•:~ztgagee ^a.: deal witn wnomever is represented to be the -4- f 1 ~~oKi91 l09?