HomeMy WebLinkAbout2068 the nature and estimated cost of the maintensnce required
hereunder and not oerformed, and a written report thereof
shall be furnished to the Mortgagor. The Mortgagor hereby
admits that the security of this mortgage is impaired if
such es~imated cost ~hall exceed 10~ of the original prin-
cipai indebtednes~ secured hereby as.hereinabove set forth,
and in such event (1) an amount of the debt secured hereby
equal to the amount of ~uch estimated cost shall at the
option ~f the Mortgagee become due and payable upon 30
days' written notice to the Mortgagor, and (ii) the cost
of the aforementioned survey Sh211 oe ~ia i~ ~y c;!~^2"tpaonr
to the Mortgagee on demand and be senured hereby. If the
estimated cost of maintencance shallnot exceed 10~ of Qaid
indebtedness, th~ Mortgagee ~hall pay the cost of the said
survey. Within 60 days after notice and demand by the
Mortgagee the Mortgagor will restore or repair said bu11d-
ings, improvements, fixtures and articles of personal
property a~ specified in such notice and demand. The
Mortgagor will permit the Mortgagee and its representatives
to enter said premises at reasonable timeQ toinspect the
same, and in case of any defau2t under this paragraph, to
enter said premises to protect, restore or repair any part ;
~
thereof .
The Mortgagee, in any action~to foreclose
this mortgage, shall be entitled (without notice, without
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regard to the adequacy of any security for the debt and ?
~
,
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without regard to the-solvency of any person, firm or
corporation liable for the payment thereof) to the appoint- ~
,
ment of a receiver of the rent~ and profit~ of said ~
premi~es. ~
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