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HomeMy WebLinkAbout1715 AND ths Morpo~or ws hKeby tovsno~t and o9~ee: ~ • 1. To perform, comply with ond abide by each and every of the stipulations, o~reemeMs, conditions and tovenonri tontained ~ and set forth on said p~omissory note ond this mo~tgage deed. , . 2. To permit, commit or suffer no waste and to muintain the imp~ovemenh at oll times in o state of good repair ond ton- dition; to comply with, o~ cause to be complied with, oll stotutes, ordinances and reqvireme~ts of c~y governmental w other auth- ority retating ro the mortgaged propert~?; vnd to do or perm+t to be dono to soid p~emises nothing thot wil) alter or chan~e the use and character of soid prope~ty or in any way impai~ or weaken the security of this moAgage. And in cose of the ~efusal, neg- lect or inobility of the Mortgagor to repair ond mainMin wid p~operty, the Nbrtgogee moy, ut its option, make such repairs or cause the sanee ro be made, and advonce mo~eys in that beholf. 3. Thct no buitding o~ ofher property now o~ hereofter covered by the lieo of this Mortgage sF~all be removed, demolished or mote~ially altered, without the prior writteo consent of Mortgagee. 4. Thot Mortgago? will promptly poy ond discharge any ond all license fees or simitar charges, together with any penal- ties and interest thereon, which may be imposed by the jurisdiction in which the Premises are situated for the use of vaults, chutes, areas and othe~ space beyond the fot line and under or abutting the public sidewolks in front of or adjaning the Premises; that Mortgogor w~ll promptly cure eny violation of law and comply with anr order of said ju~isdittion in respect of the repair, reptace- ment or co~dition of the sidewofks or cu?bs in front of or odjoining the P?emises; that, if Mortgagor shall default in moking such payment and obtoining such diuharge or in turing ony wch violation, Mortgagee moy moke such payment, together with pen- alNes and interest the~eon, ond obtain suth discharge, and cure any wch violotion, and the amount of such payment ond the expenses incurred by Mortgagee in obtaining such discharge end curing ony such viotation shali thereupon be secured by Mis M.ortgage and become o iien on the Mortgoged Properly; end jhot Mortgagor wil) repay the amount of such payment and suth ~ expeases to M~rtgogee, together with interest thereo~ ot the delinquent mortgage note rate, within fifteen (15) days after demond ~ for soid payment is mode by Mortgagee to Mortgagor. S. The Mortgagor, immediotely upon obtaining knowledge of the institution of oor proceedings for the condemno6on of the Premises or any portion thereof, witl notify the Mortgogee of the pendencp of such proceedi~gs. The Mortgagee may portiti- pate in anr such proceedings, and the Mortgagor from time to Iime will deliver to the Mortgagee all instruments requested by i! to permit such participo6on. • . ; 6. That, notwithstanding anr taking by eminent domain, olteration of the grade of any sheet or other injury to or deuease in rolue of the Mortgaged Propery by any public or quasi-public authority or corporotion, Mortgagor shall continue to par inter- est as provided in the mortgage note until any such aword or payment shall have been actunlly received by Mortgogee and any reduction in the principal sum resulting from the applicotion by Mortgagee of such aword or payment os hereinafter set forth sholl be deemed to take efiec~ only on the date of such receipt; that soid aword or payment may be opplied, in such proportions and . priority as Mortgagee in Mo~tgagee's sole distretion may eiect, to the poyment of principol, whether or not then due and payable, or any sums secured by this Mortgage ond/or to payment to Mortgagor, on such terms qs Mortgagee may specify, to be used for j the sole purpose of altering, restoring or rebuilding any part of fhe Mortgaged Property which may hove been altered, domoged or destroyed as a result of eny suth toking, alterotion of grade, or other injury to the Mortgaged Property; and that, if prior to the receipt by Mortgagee of such award or payment, the Mortgaged Property shall have bee~ sold on foreclosure of this Mort- gaga, Mortgagee shal! have the right to receive said aword or payment to the extent of the Mortgage debt remaining unsatisfied t after such sale of the Mortgaged Property, with legal interest thereon, whether or not o deficiency judgment on this Mortgage shal! hove been sought or recorered or denied, and of 1he rensonable cou~sel fees, costs ond disbursements incurred by Mortgagee in connection with the collection of such oword or poyment, w 7. The Mortgogor shall fumish to the Mortgagee, within ihirty (30) days aher a request by the Mortgogee to do so, o written statement containing the names of vll lessees of the P~emises, the terms of their respective leoses, the spaces occupied ond the rentols paid. - ; 8. That Mortgagor herebr ouigns to Mortgagee the renh, iuues and profits of t6e Mortgaged Property as further securify ~ for the ment of the indebtedness secured hereb and Mo f PpY y rtgogor grants ta Mortgagee the right to enter the Mortgaged Prop- erty for the purpose of collecting the some and to lef the Mortgaged Property, or ony part thereof, ond to apply wid rents, issues and profits, after pojrment of all neceuary charges ond expenses, on account of said indebtedness; ihat this assignment and g~ant shall continue in effect unfil the i~debtedneu secured by this Mortgage is paid, but Mortgagee hereby waives the right !o entar the Mortgaged Property for the purpose of collecfing soid rents, issues and profits, and Mortgagor shall be entitled to collect and receire soid rents, issues and profits, until the occurrence of a defaul~ by Mortgagor under the terms and provisions hereof; thot Mortgagor agrees to use said rents, iswes ond profits in payment of Principal and/or interest payable pursuant to the Note, and in poyment of all taxes, assessments, water rates, sewer rents and other chorges on or against the Mortgaged Property; that wth righ~ of Mortgogor to co!leci and receive sa;d rents, issues ond profih may be revoked bY Mortgagee upon anr default by Mort- gagor under the terms and ~provisions of this Mortgage by giving not less thon five days written notice of such revocation to - Mortgogor; that Mwtgagor sholl not have the right or power, as against the holder of tF~is Mortgage without its consent, to concel, ; abridge or otherwise modify tenancies or leoses of the Mortgaged Properry, or anr part ihereof, in existence on the dote of this , Mo?tgage, or to occept pre-porments of instoUments of rent to become due thereunde~ for a period of more than one month in advante; that, in respect of any such lease which ~ow or ot ony time is covered by such restrict~on, Mortgagor will (a) fulfill or perform each artd every term, covenant and provision of any such lease to be fulfi(led or performed by the tessor thereunder; (bj give prompt no6ce to Mortgagee of any no6ce received by Mortgagor of default by the lessor thereunder, together with a com- plete copr of ony such no6ce, and enforce, short of termina6on thereof, the performance or observence of each and every ~ term, covenont ond provision of ony such lease by the lessee thereunde~ to be performed or ~bserved; and that, in the event of any default under this Mortgage, Mortgagor wil( pay monthly in advance to Mortgagee, or to any ~eceiver appointed to collect ~ said rents, issues and profits, the fair ond reosonable rentol volue for the use and occupofion of such part of the Mortgaged Prop- i erty as may be in possession of Mortgagor, and upon default in ony wch payment, will vacate and wrrender possession of such ; pan of the Mortgaged P~ope?ty to Mortgagee or to such receiver und, in default thereof, Mortgagor may be evicted by summary i proceedings or otf~erwise. ; i 9. The Mortgagor will, at the cost of the Mortgagor, ond without expense to the Mortgagee, do, execute, acknowledge and detiver oli and every such further acts, deeds, conveyances, mortgages, ossigrtmenTS, nofices oi assignments, tronsfers and ossur- ances as the Mortgogee sholl from time to time requi~e, for the better assuring, conveying, assigning, transferring and confirming unto the Mortgagee the properry and rights hereby conreyed or assigned or intended now or hereafter so to be, or which the Mortgogor moy be or may hereafter become bound to convey or ossign to the Morfgagee, or for carrying out the +ntention or facitifofing ihe performance oF the terms of ihis -Mortgoge ond/or the Loon Agreement, or for filing, registering or recording this Mortgoge and/or the loan Agreement and, on demand, will execute and deliver, and hereby authorizes the Mortgagee to exe- cute in the name of the Mortgagor to the extent it may lowfully do so, one or more financial statemenh, chaRel mo~tgdges or comporoble securiry instruments, to evidente more effectively the tien hereof upon the mcxe~ or personal property. ~ 10. (a) The Mortgagor forthwith upon the execution dnd delivery of this MoHgage and thereafter from time to time, w'rll cause this Mortgage, the Loon Agreement and any security instrument creating a lier~ or evidencing the lien hereof upon the mixed ~ cr personal property ond each instrument of further assuronce to be filed, registe~ed or recorded in such manre- and in such ! places as may be required by any present or future low in order to publish notice of and fully to protett the lien hereof upon, or.d j the interest of the Mortgagee in, the Mortgaged Properfy. (b) The Mortgagor will par o!) filiny, regist~ation ~r record~ng fees, ond al) expenses incident to the preparation, exe- cution and acknowledgment of this Mortgage, any mortgage supplementol hereto, any securify instrument with resped to the ` Chottels, and ony instrument of further assurance, and all federal, state, county and municipal stamp toxes and other taxes, d~ties, ~ imposh, assessmenls ond charges arising out of or in connection with the execution and delivery of the Note, this Mo?tgoge, any ~ mortgoge supplemental hereto, any security instrument with respect to the Chottels or any instrument of fu?ther assurance. ~ ~ ~ 2. ~ ~l R 3GRY~14 ~~,F~7~~ ~~~~,~1.2 r~~E ~01 ~ ~ :b y w z s £ s"~s~' x-~~ _ _Mr ~°Y ~ r..