HomeMy WebLinkAbout2853 10
4.6 RESTORATION FOLLO~YING INSURED CASUALTY. In the event of
the happening of any casualty, of any kind or nature, ordinary or extra-
ordinary, foreseen or unforeseen covered by insurance under paragraph 4.5
resulting in damage to or destruction of the Alortgaged Property, T~Iortgagor
will give notice thereof to ~iortgagee, and if 1liortgagee elects to apply the
insurance proceeds to the restoration, repair or replacement of the damaged
or destroyed Niortgaged Property, 11~tortgagor will promptly, at A'tortgagor's
sole cost and espense, ~~~hether or not the insurance proceeds shall be
suffi~ient for the purpose, commen~•e and diligently continue to restore,
repair, replace, rebuild or alter the damaged or destro}~ed Mortgaged
Property as nearly as possible to its value, condition and character im-
mediately prior to such damage or destruction. Election by Mortgagee to
apply the insarance proceeds to the restoration, repair or replacement of
; the damaged or destroyed hlortgaged Property shall not affect the lien of
this Mortgage or reduce the amount of the Indebtedness secured by this
~ Aiortgage. .
~ 4.7 RESTORATION FOLLO~VIl~'G UNINSURED CASUALTY. In the event
i
~ of the happening of any casualty, of any kind or nature, ordinary or extraor-
~ dinary, foreseen or unforeseen, not co~~ered by insurance under parao aph
~ 4.5 resulting in damage to or destruction of the Aiortgag•~d Property, n4ort-
~ gagor ~~•ill give notice thereof to hlortgagee and Mortgagor will prompdy, at
11Zortgagor's sole cost and expense, co~nmence and diligently continue to
restore, repair, replace, rebuild or alter the damaged or destroyed Mort-
gaged Property as nearly as possible to its value, condition and character
~ immediately prior to such damage or destruction.
~ 4.8 PERFORTiANCE OF ~'I'HER AGREEMENTS. MOTigagOr will duly
~ and punctually perform all covenants and agreements expressed as binding
~ upon it under any lease, Permitted Encumbrance or any other agreement of
~ any nature whatscever to which it is a party which involves the Mortgaged
~ °roperty.
~
4.9 IvspECTio;v. Mortgagor will permit 147ortgagee and parties des-
ignated by hlortgagee, at all reasonable times, to inspect the Mortgaged
~ Property.
~-k
~ 4.10 HoLn HnxMLESS. Mortgagor will defend at its own cost and
, hold Mortgagee harmless from any action, proceeding or claim affecting .
~
t
~
~ ecRK 2~8 PacE2852
~
~
~ ~ a ~~y,~-,~`,s~ .
:
;~s~'k;,x ~3~~'~ '~~,~~~R
~ ' ~ ~-,~~aa
'~c ~ _ _