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HomeMy WebLinkAbout2405 ? • 1 ~ tcaASfera the mortgaged premises~ or any part thereof, aithout first obtaining vritten consent of Mortgagee, such transier, at the option of Mortgagee, shall ' conatitute a default under the terms of this instrument. Mortgagee may, With- out notice to the Mortgagor, deal vith any successor owner in the same manner aa vith Mortgagor, without in any siay discharging the liebility of the Mortga- ~go~ hereunder or upon the debt hereby secured. 8, If,all or any part of the premises are damaged, taken, or acquired, either tem- porarily or permanently, in any condemnation proceeding, or by exercise of the sigbt of eminent domain, or by the alteration of the grade of any street affec- ' ting the said premises, the amount of eny award or other payarent for such tak- ing or damages ~ade in consideration~thereof, to the extent of the full amount 'of the then remaining unpaid indebtedness secured hereby, is hereby assigned to ~lostgagee, vho is eppowered to collect and receive tl:e same and to give proper receipts therefor in the neme of Mortgagor, and the same shall be paid forth- nitb to Mortgagee. Any avard or payment so received by Mortgagee may, at the ~ option of Mortgagee, be retair.ed and applied, in whole or in part, to the in- debtedness secured hereby (whether or not then due and payable), in such manner aslYlortgagee may determine, or released, in whole or in parC, to Mortgagor for t6e purpose of a2tering, restoring, or rebuilding any part of the prea~ises vhich may have been altered, damaged, or destroyed as the result of such tak- ing, alteration, or proceeding, but Mortgagee shell not be obligated to see to • tbe application of any amounts so released. 9. If 2~ortgagee shall incur or expend any sums, including reasonable attorney's fees, whether in connection with any action or proceeding or not, to sustain the lfen of this mortgage or its priority, or to protect or enforce any of Zlortgagee's rights hereunder, or to recover any indebtedness hereby secured, all such swns shall become iunnediately due and payable by Mortgagor with in- . terest thereon at the rate specified in the note secured hereby. All such sums ~ shall be secured by this mortgage and be a lien on the premises prior to any ~ right, title, interest, or claim, in, to, or upon the premises attaching or ac- 'j cruing subsequent to the lien of this mortgage. I ; 10, l~iortgagor will not assign, in whole or in part, the rents, income,-or profits arising from the premises without the prior written consent of Mortgagee, or in ~ ~nq other ~ranner impair the security of this mortgage for the payment of the indebtedness secured hereby. 11. Kortgagor will observe and perform all covenants, conditions, and agreesents contained in any lease or leases now or hereafter affecting the premises, or any portion thereof, on the part of Mortgagor to be observed and perforn~ed. If Nortgagor shell default in the perfoneance of any of the terms, covenanCS, con- ditiona, or obligations imposed upon Mortgagor by any such lease or leases, vhich default Would give the lessee or lessees the right to terminate or cancel the said lease or leases or make monetary advances and offset the same against fntare rentals, then, at the option of Mortgagee, the whole of the indebtedness secured by this mortgage, including all advances and payments by Mortgagee herennder, shall become i~mediately due, payable and collectible by foreclo- aure, or otherwise, without notice or demand. Mortgagor will not accept sn} pt+epayment of rent or installments of rent for more than one month in advance, vithout the prior written consent of Mortgagee. ~ ~ Mortgagor, upon request, from time to tia~e, vill furnish to Mortgagee a state- ~ ment in such reasonable detail as Mortgagee may request, certified by Mortga- ~ gor, of all leases relating to the premises; and, on demand, Mortgagor vill furnish to Mortgagee executed counterparts of any and all such leases. _ 12. With respect to the said premises and the operations thereof, Mortgagor will keep or cause to be kept proper books of record and account in accordance with generally accepted accountirig pri~ciples consistently applied. Mortgagee shall have the right to examine the said books of record and account at such reason- able times and intervals as Nortgagee may elect. Mortgegor vill furnish to the Hortgagee, raithin ninety ~9~) aeys sfrer the end of each fiscal year of Mortga- ~ 4~~.~ Ync~2~Q~ 5~~? ~~7 Fac~;~339. B;~er - ~ ~ ' z~- ~ -L ~ ~ ~ ~ ~ ~ ; _~.3