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HomeMy WebLinkAbout2856 13 Property or any article to be brought thereon, ~vhich may l~e dangerous, unless safeguarded as required by la~v, or which may, in la~v, constitute a nuisance, public or private. -52 ALTERA'~'IONS, Erc. ~iortgagor will not cominit or knowingly permit any waste of the A~Iortgaged Property or make or permit to be made any alterations or additions to the ~'Iortgaged Property which would have the effect of materially diminishing the value ihereof or ~~hich ~vill in any «~ay increase any ordinary fire or other hazard arising out of construction or operation thereof, provided that nothing in this paragraph shall prohibit the construction of the Improvements-b~ b'Iortgagor under the terms and conditions of the Loan Agreement. 5.3 REPLACEDiEI\T OF FIXTURES, I~iPROVEAIENTS OR PERSO~IAL PxoPExrY. A~Iortgagor ~vill not permit any of the Fixtures or Improvements ( or Personal Property, if any ) to be removed at any time from the Land, ~vithout the prior ~vritten consent of 11~Iortgagee, unless actually replaced by an article of equal suitability and value, o~med by hlortgagor, and unless ~ such replacement article is encumbered by this Mortgage as a first lien, i free and clear of any lien or security interest except such as may be ap- ~ ~ proved in ~vriting by ~tortgagee. ~ R 5.4 OTHER LiE~s. niortgagor will not, ~vithout the prior written ~ consent of Mortgagee, create or permit to be created or to remain, any ~ mortgage, pledge, lien, encambrance or charge on, security interest in, or conditional sale of or- other title retention agreement on (~vhether prior or subordinate to the liens of the Security Documents) the i~'Iortgaged ~ Propert}~ or income therefrom, other than the Security Documents and the _ Permitted Encumbrances. ~ 5.5 TRANSFER oF TITLE. ~'IOTtglgOf ~Vlll not, ~vithout the prior ' ~ written consent of 1~'Iortgagee, convey, transfer or permit to be conveyed ~ ~ or transferred, rlort~agor's title to the Land, Improvements and/or ~ Fi~tUres (or Personal Property, if any). a ;r 5.6 Cx~~cE i~ O«'~ERSHIP oF 14IoxTCncox. Dtortgagor ~ti•ill not, - ~~-ithout the prior ~critten consent of ~tortgagee, permit . ~ s ( a) If ~iort~agor is a corporation, ( i) tHe transfer of stock of Mort- ~ gagor of an~~ stockholder of ~iortgagor o~vning directl}~ or indirectly, five ~ per cent ( 5~10 ) or more of the issued and ouistanding stock of Mortgagor ~ ~ ~ ' L3 ~ ~ - ~aax ~0~ ~~~28~5 ~ . ~ - ;.1 ~ . ~ ~ a ~ _ ~ ~ ~ ~ ~ . ~?w9r`.Y~"` -3C .~~N _ _ ~~~-~c Y'~.~e,. `T^-v'~..~.~~.c~~`~"'4- .C . . .