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Home My WebLink About1937 i 3. riort~a~o~ w~il1 ~k~y said n~~tc in acco~d:~ncc wi~b its tcrms and a ill pc~turm anJ tom~,ly ~ri~1~ sU ut thc tc~n~y ' and p~a~~i~ious thercof. • 4. I~1o~tfia~c~c ~rill kccp protcctcc! arut in ~;cxxl or~lcr, r~•~?.~ir anct cun~litiun :?t :itl ti~u~•; tl~c builclinF;, :si~d iitt- pcovcmcnts (incluJing fixtures) non• st:~n~lin~ u~ (~crr.~(tc~ cr.•rt~Kl ur ~~I.irrd u~km tl~r tnu~~~•,~~;rc! ~~~rmi~rs and any and all appurtenanccs, ap~~.lr:ttus ancl :?rticlcs of ~~cr,.~na) pro~x•rty, incl~~din~; but not liu~itcd tn furuiturc. furnishings and cquipmcnt, no«• on c~rcattcr in or suacl~cd ta or us~~cl iu conncctiun ~~•itl? c~id buil~lin~;s or impro~•c- tnc~ts~ promptly rcplacin~ any o[ tlu aforeciid ~sl~ich n~:?y lxcomc lost, dcstruy~~cl or ui~suit~Utc (or usc, and ~~•ill kecp insurcd thc alorc~.lid re~l and pcrsonal pro~~ccty 1nd tlic intcrests aiid li~~ilitics incidrnt to tl~c oa•ncrship thereof~ in manncr, forms, companics. sums and Icnsth of tcrms sltisfactory to tl~c mortsagcc; that all in~ursncc policics a~c to bc hcld by and~ to thc cxtc~t of its intcrests, arc to Uc (o~ thc brnclit o( a~id first pa?•ablc in casc ot loss to the mortgagee, and thc mort~a~or sh~lt delivcr to thc mortfiagce a ~c~r policy as replaccmcnt for any crpiring , policy at least fittcen (15) days bctorc thc datc ot such cxpir•?tion; that all amounts rccovcr.~btc undcr a~y policy are hereby assigncd to the mortgagee and in the event of a loss the amount collected may. at the option of the ~ mortgagee. be used in any one or more of the (otto~ring ~va~•s: (1) applicd upon the indcbtedncss sccured hercby, L ' ~rhether such indebtedncss then be matured or unmatuced~ (2) used to fulfill any of the covenants containcd he~ein ` as the mortgagee may determine. (3) used to replace or restore the property to 1 condition s.ltisfactory to the : mortgagee. or released to the mort~agor; thc mortgagce is hereby inevocably appoi~tcd by the mortgagor as attorney of the mortgasor to assign any policy in the event of the foreclosu~e o[ this mortgage or other extinguish- ; ment of Yhe indcbtedness securcd hereby. i 5. Mortgagor will pay before same become definquent or any peaalty attach thereto for non-pa} ment, all { taxts. assessments and cha~es of every nature and to ~~homcver assessed that may now or he~eaftcr be levied or ; assessed. or by reason of non-paymeni bccome a lien prior to this mortgage, upon the mortgaged premises or any ; part the~eof~ upon the rents~ issues. iacome or profits thereof, whether any oc all of said Wxes~ asscssments or ~ charges be leried directly or indirectty or as e.rcise ta.res or as income taxes. and will thereupon submit to the mortg~agee such evidence of the due and punctual payment of such ta.res. etc. as the mortgagee may require. If mortgagor shall neglect or refuse to keep in good repair the property referred to in paragraph (4), to reptace the same as therein agreed. to maintain and pay the premiums for insurance which ma;• be required under paragcaph (4) or to pay and discharge all tares, assessments and charges of every nature artd to whomever assessed. ~ aa provided for in paragraph (5). the mortgagee may. at its election. cause such repairs or replacements to be made. : obLain such insurance or pay said taxes, assessments an~es and any amounts paid as a result thereof, to- gether with interest thereon at the rate of ta~ per cent per annum from the date of payment. shall be im- ~ mediately due and payable by the mortgagor to the mortgagee, and until paid shall be added to and become a patt of the principal debt secured hereby. and the same may be collected as a part of said principai debt in any ~ suit hueon or upon the note: or the mortgagee. by the payment of any tax. assessment or charge. may, if it sees ~ fit. be thereby subrogated to the rights of the State, County. Village and alt politicat or governmental subdivisions. Na auch advances shall be deemed to relieve the mortgagor from any default hereunder or -impair any right ~r remedy ronsequent thereon, and the erercise of the rights to make advanceg granted in this paragcaph shall be opdona! with the mortgagee and not obligatory and the mortgagee shall not in any case be liable to the mortgagor for a failure to exercise any such right. 7. Mortgagor will keep the mortgaged premises in good order and repair and wi11 not commit or suffer any ~ strip or waste vf the mortgaged premises or any violation of any taw, regulation. ordinance or contract affecting - ~ t~p mortgaged premises and ~ril1 not commit or suffer any demolition~ removal or material alteration of any of tht buiidings or improvements (including fixtures) on the mortgaged premises tvithout the written consent of the mortgagee. • 8. Mortgagor agrees that all awards heretofore or hereafter made by any public or quasi•public authority to t6e present and all subsequent owners of the premises covered by this mortgage by virtue oE an exercise of the rig6t of eminent domain by such authority~ including any award for a taking of title. possession or right of access to a public way. or for any change of grade of streets affecting said premises. are hereby assigned to the mortgagee; and the mortgagee. at its option, is hereby authorized. directed and empowered to rnllect and receive the proceeds of any such award and awards from the authorities making the same and to give proper receipts and acquittances therefor. and may, at the mortgagee's election, use such proceeds in any one or more of the following ways: (1) apply the same or any part thereof upon the indebtedness secured hereby, ~vhether such indebtedness then be matured or unmatured, (2) use the same or any part thereof to iulfill any of the covenants contained herein as the mortgagee may determine. (3) use the,same or any part thereof to replace or restore the property to a condition satisfactory to the mortgagee. or (4) release the same to-the mortgagor; and the mortgagor hereby covenants and agrees to and with the mortgagee~ upon request by the mortgagee, to make~ execute and detiver any and a11 assignments and other instruments suflicient for t6e purpose of assigning aii such awards to the mortgagee free, clear and dis- charged of any and aIl encumbrances of any kind or nature nhatsoe"ver. 9. Mortgagor will pay to mortgagee. to the extent requested by the mortgagee. on dates upon W hich interest is payable~ such amounts as the mortga~ee from time to time estimates as neces~lrv to create and maintain a reserve fund from which to pay before the same become due, all taxes, assessments, liens and charges on or against ~ the property hereby mortgaged, and premiums for insurance as are herein co~enanted to be paid by the mortgagoc. Payments from said reserve fund for said purposes may be made by the mortgagee at its disrretion even th~ugh subsequent owners of thc property described herein may bene~it thereby. Irt the event of anv default under the terms of this mortgage, any part oc all of said reserve feind may be applicd to any part of the indebtedness hereby secured and ia refunding ariy part of said reserve fund the mortgagee ma}~ dcal ~~ith ~vhomcver is represcnted to be the owner of said proFerty at that time. 10. Mortgagor Wil) deliver to the mortgaGee a statement o( annuat inc~me and erpenses, in detai) satisfactory to the mort~agcc~ in conncction w•ith thc mort~a;cd prctniscs w-itliin nincty (90) da}•s lftcr thc cxpiration of each fiscal year, certificd by a certified public acco~mtlnt or as othenvise accept~-?ble to ihe mortgagee~ all in accordance With Paragraph 20 hereof. ' _2. sfloK2i4 ~~:1~~ ~ . r ~ ~ '~+~`Y`~ - ~ . _ ~,x~ y, .y~~~~" _ . C . . ~ _ "~-,xy„~ -