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HomeMy WebLinkAbout0296 offices deemed necessary or desirable by i~lortgagee) and do such other acts and things, all as Mortgagee may require, to establish and maintain a valid perfected security interest in the ~ollaterai ic? urder t~ secure the p~~ ^:en: and performance of the obligations of the Note. From time to time upon the request of :4ortgagee, !vlortgagor will furnish an inventory of the Collateral by make, model and serial number insofar as possible. Mortga- gor will not remove or permit the Collateral to be removed from the above described real property without the prior written permission of the Mortgagee, except that Mortgagor shall be entitled to dispose of such of } the Collateral as has become unfit for continued use, provided A~ortgagor replaces same with property owned by :~+iortgagor of similar kind and like use, t and provided the purchase price of such replacements shall have been paid ~ in full, and provided this :~iortgage shall be and continue to be a first Iien ' upon such replacements . ~lortgagor will use reasonable care and diligence to preserve and keep the Collateral hereby encumbered in good conditfon, will not permit or commit any waste, impairment or deterioration thereof, and will use said Collateral only for the purposes for which R4ortgagee agrees it may be used . 6. Sale or Encumbering of Collateral. T~•iortgagor will not se11 or attempt to sell any of the Collateral hereby encumbered and will not create ~r permit any other security interest or other lien or encumbrance thereon without the prior written consent of the ivlortgagee . 7. Preservation of Real Property. ::9ortgagor will permit, commit, ~ or suffer no waste, impairment or deterioration of said real property or any part thereof and will keep all buildings and improvements on or hereafter on said property in good repair and will make any repairs which ~iurtgagee in its discretion shall deern necessary for the proper preservation of said buildings and improvements . 8. Costs and Charges Upon Default. '~.toi-tgagor will pay all and singular the costs, charges and expenses, including but not limited to -6- 800K ~?lU PAGE ~i~U ' ~ ~ ~ . _ ~ _.v .