HomeMy WebLinkAbout0573 claims and demands of inechanics, materialmen, laborers, and
others which, if unpaid, might result in, or permit the
creation of, a lien on the Mort~aged Premises or any part
thereof, or on the revenues, rents, issues, income and
profits, if any, arising therefrom and in ge~eral wi12 do
or cause to be done everything necessary so that the lien
hereof shall be fully preserved, at the cost of the Mortgagor,
without expense to the Mortgagee.
(c) Nothing in this Section 6 shall require the
payment or discharqe of any obligation imposed upon the
Mortqagor by this Section so long as the Mortgagor shall
in good faith and at its own expense diligently contest the
same or the validity thereof by appropriate Iegal proceedings
preventinq the collection of the obligation and the sale
or forfeiture of the Mortgaged Premises or any part thereof
to satisfy the same. During such contest the Mortgagor
shall, at the option of the Mortgagee, provide security
satisfactory to the Mortgaqee, assuring the discharge of
the Mortgagor's obliqation hereunder and of any additional
charge, penalty or expense arising from or incurred as a {
result of such contest. If at any time payment of any
obligation imposed upon the Mortgagor by subsection (a)
of this Section shall become necessary to prevent the delivery
of a tax deed conveying the t4ortgaged Premises or any portion
thereof, then Mortgagor shall pay the same in sufficient
time to prevent the delivery of such tax deed.
7. (a) The t~ortgagor wi12 keep any i~provements ~
on the ~ortqaged Premises insured against loss by fire,
casualty and such other hazards as may be specified by the
Mortgagee for the benefit of the ~ortgagee. Such insurance
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PAUL S TNOM$ON, 131~ FIR9T NATIONI~L DANK ~UILDIN6, MIAMI, FLOhipA 33131
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