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HomeMy WebLinkAbout0901 AND th~ Mat~opa o~~ h~~br cownonl ond o~~e~: • ' ~ ~ 1. To perfo~m, comply with ond obide br each and every of the shpulotions, a~~eement~, conditions ond covenanb contoinad ' o~d set fo~th o~ soid promissory nots and this mo?t9afle deed. Z. To pe~mil, commit or sufFer no woste ond to mointaio the in~ovements ot oli Nmes in o staro of good repair and con- ditioo; to compir with, or cause to be complied with, ol! statutes, o?dinances ond iequirsments of anr 9overnmenro) or othe? outh- oritr relo6ng to the mortgoged propertyj and to do or pe~mit to be dooe to wid premisos nothing that will alfe~ or chan9e the i use ond character of wid prope~ty or in any war impau or wecken the socurity of this mortqage. Md in cose of the ~efusal, ney- ' lect or inabilitp of the Mortgagor to repoir and mainroin said propertp, the Mortga~ee mciy, at its option, make suth repairs or couse 1he same to be made, and advcnce moners in fhat behalf. 3. That no building o? other prbperty now or hereofro~ covered by the lien of thi: Mortgage sholl be removed, demolished cr materially oltared, without the prior written consent of Mortgogee. 4. That Mo?tgagor wilt p~omptly poy and discharge a~r cnd ol) liconss fees or simila~ charges, togethe~ with any penol- t;es ond interest thereon, which may be imposed by the jurisdiction in which the Premises ore situated (or the use of vaults, chutes, areas and other space beyond the lot line ond cnder or abutting the public sidawalks in iront of or adjoini~g the P~emises; that Mortgagor will promptly cure any violation of (ow and tomply with ony order of soid jurisdiction in resped of the repair, replace- merrt o? condition of the sidewalks or cwbs in hont of or edjaning the Premises; that, if Mortgagor sholl default in making such parment and obtaining such dixherge w in curing ony such violation, Mortgogee may make such payment, together with pen- alties ond inte~est thereon, and obroin such discharge, and cu~e eny suth violotioo, and the amount of such paymen~ and the expenses incu~red by NbNgagee in obfaining such distharge and curing eny such viotaNon si~al) thereupon be _ secured by this ~ M.ortgage ond become a lien on the Mortgoged Property; and ~hut Mortgagor wil) repay the omount of such payment and suth ~ expenses to MoMgagee, together with interest the~eon at the delinquent mo?tgage note rate, within fifteen (15) days after demand for soid payment is made by Mortgcgee to Mortgogo~. 5. The Mo?tgagor, immediotely upon obtoining knowledge of the institution of any p?oceedings for the condemnotion af the Premises or any portion thereof, wiil notify the Mortgagee of the pendency of suth proceedings. The Nbrtgogee moy portici- pate io any such proceedirtgs, and the Morfgagor from time to time will deliver to the Mortgagee al) inshuments requested by it to permit wch pafidpotion. 6. That, notwithstanding any taking by eminent domoin, olte~c6on of the grade of any sheet or other injury ro o~ decreose in value of the Mortgaged Propertr by any public or quasi-public authority or corporation, Mortgagor shall tontiove to pay inter- est as provided in the moAgage note until any such award or parment shall have been actvallr received by Mo?tgagee and anr • reduction in the principal sum resulting from the applicotion by Mortgogee of such award or payment as hereinaher set forth shal) be deemed to toke e$ect ont~r on the date of such receipt; that soid award or payment may be opplied, in such proportions and priority as Mortgagee in Mortgagee's sole dist?etion may elect, to the payment of principal, rrhether or not then due and payable, or any wms secured by this Mortgage and/or to payment to Mortgogor, on suth terms as Morigagee may specify, to be used for the sole purpose of altering, restoring or rebuelding any part of ihe Mortgaged Propert~r which may huve been altered, domaged or destroyed as a result of anr such toking, alteration of g~ade, or other injury to the Mortgaged Property; ond that, if prior to the receipt by Mortgagee of such award or payment, the Mortgaged Property shall have been sotd on foreclosure of this Mort- gage, Mortgagee shell twve the right to receive said aword or payment to the extent of the Mortgage debt remainiog unsatisfied aker wch sale of the Mortgoged Property, with lega) interest thereon, whether or not o deficiency judgment on this Mortgoge shall hove been sought or recovered or denied, and of the reosonoble counsel fees, costs and disbursements incurred by Mortgagee i in tonnection with the tollection of such award or payment. ~ 7. The Mortgagor shall furnish io the Mortgagee, within thirt~r (30) days aher a request by the Mortgagee to do so, a written statement containing the rwmes of alt iessees of the Premises, the ferms of theer respective leoses, the spoces occupied ond the renrols paid. . 8. Thot Mortgagor herebr auigns to Mortgagee fhe renh, iswes and pro6ls of the Mortgoged Property as further security for the porment of !he indebtedness secured hereby and Mortgagor grants to Mortgagee the right to enter the Mbrtgaged Prop- erry for the purpose of collecting the same ond to let the Mortgaged Property, or any pa?t the~eof, and to apply wid rents, iswes and profits, afie? poyment of oll necessary cherges and expenses, on account of wid indebtedness; thot this assignment ond grant . shatl continue in effect un1i1 the indebtedness secured by this Mortgoge is poid, but Mortgagee hereby waives the right to enter the Mortgoged Property for the purpose of collecting said rents, iuues and profits, and Morigogor shall be entitled to collect and receive said rents, issues and profits, un61 the occurrence of a default by Mortgagor und$r the terms and provisions hereof; thQt Mortgaigor ag~ees to use wid rents, issues ond profits in payment of Principal and/or interest payoble pursuant to the Note, and in poyment of all roxes, oueumer~ts, water rotes, sewer renis ond other charges on or against the Mortgaged Property; that wch right of Mortgagor to collect and receive said rents, iuues and profits moy be revoked by Mortgagee upon any default by Mort- gagor under the terms and provisions of this Mortgage by giring not less than five days written notice of suth revocation to i ~ Moirtgago~; that Nbrtgogor shali not have the right or power, as ogainst the holder of this Mortgoge without its consent, to concel, ~ abridge or otherwise modifp tenoncies or leoses of the Mortgaged P~roperty, or anr part thereof, in existence on the date of this F Mortgage, or ro accept pre-poymenh of installmenh of rent to become due thereunder for a period of more than one month i~ ~ advance; that, in respect of any wch leose which now or at any time is covered by such restriction; Mortgagor wiN (a) fulfill o?' perform each and every term, covenont and proris+on of any such lease to be fulfilled or performed by the lessor thereunder; ~ (b) gire prompt notice to Mortgogee of any no6ce received by Mortgagor of default by the lessor thereunder, together with a com- _ plete topy of ony such notice, and (c) enforce, short of termination thereof, the performance or observance of each and every ~ te~m, tovenent and provision of any such lease by the tessee thereunder to be perfo~med ar observed; ond that, in the erent of i anr default under this Mortgage, Mortgagor wiN pay monthtr in odvance to Mortgagee, or to any receiver oppointed to collect wid rents, iswes ond profits, the foir ond reasonable rental value for the use and occupa6on of such part of the Mortgaged Prop- ert~r as may be in possession of Mortgagor, and upon default in ony such payment, will vacate and.wrrender possession of such ~ part of the Mortgaged Property to Mortgagee o~ to suth receiver and, in default thereof, Mortgagor may be evicted by summary proceedings or otherwise. ~ 9. The Morigagor will,.at the cost of the Mortgagor, end without expense to the Mortgagee, do, execute, acknowtedge and ~ deliver all and every such funher acts, deeds, conveyances, mortgages, assignments, no6ces of assignments, transfers and assur- ~ ances as the Mo?tgagee shall from time to time require, for the better auuring, conveying, ossigning, transferring ond confirming r unto the Mortgagee the property and rights hereby conveyed or assigned or intended now or hereafter so to be, or wh;ch the e Mortgagor moy be or mar hereafter become bound to conver or ossign to the Mortgagee, or for carryi~g out the intenfion or = focilitoting the performance of the terms of this Mortgage and/or the Loan Agreement, or for filing, registering or recording this ~ Mortgage and/or the loan Agreement and, on demond, will execute and delirer, ond hereby authorizes the Mortgagee to eze- cute in the name of the Mortgagor to the extent it may tawfully do so, one or more financia! statements, chatte! mortgages or ~ comporable security instruments, to evidence more effectirely the lien hereof upoR the mixed or perwnol property. a ~g 10. (a) The Mortgogor forthwith upon the execufion und delivery of this Mortgage ond thereofter from time to time, will ~ cause this Mortgege, the Loon Agreement and ony security instrument creati~g a lien or evidencing the lien hereoF upon the mized ~ or personol property ond each instrument of further ossurance to be filed, registered or recorded in such manrer ond in such ~ ploces as may be required by any present or future low in order to pubtish notice of and fulfy to pro~ect the lien hereoi upon, ond ~ the interest of the Mortgagee in, the Mortgaged Prope?ty. ~ (b) The Mortgogor will pay oll filing, regishotion or ?ecording fees, and oll expenses incident to the preparation, exe- ~ cution and acknowledgment of this Mortgage, any mortgage supplementol hereto, any security instrument with respect to the Chattels, and any instrument of further assurance, and oll federal, stote, counly and municipa! stamp toxes ond othe? toxes, duties, ~ imposts, assessmenls and charges arising out of or in connec6on with the execution and delivery of the Note, this Mortgage, any ; mortgage suppleme~tal hereto, any security instrument with respect to the Chottels or any instrument of further ossurance. - ~ 2. g~,R~ PaGE 9~1 F': - ; ~~:~=y _ ~