HomeMy WebLinkAbout2530 similar charges paid by Mortgagor, and shall keep, perform
and observe all the covenants and promises in the Note, and
any renewal, extension or modification thereof, and in this
Mortgage and in all other instruments securing the Note, to
be kept, performed or observed by Mortgagor, then this Mortgage,
and all the properties, interest and rights hereby granted,
conveyed and assigned shall cease and be void, but shall other-_
wise remain in full force and effect.
Mortgagor covenants and agrees with Mortgagee as
follows :
ARTICLE ONE
COVENANTS OF MORTGAGOR
1.01 Performance of Note, Mortgage, etc. Mortgagor
shall perform, observe and comply with all provis oi
ns hereof,
of the Note and of every other instrument securing the Note,
and will promptly pay to Mortgagee the principal with interest ~
thereon and all other sums required to be paid by Mortgagor
under the Note and pursuant to the provisions of this Mortgage
and of every other instrument securing the Note when payment
shall be~ome due, all without deduction or credit for taxes
or other similar charges paid by Mortgagor.
1.02 Warranty of Title. Mortgagor covenants and
warrants that it is seized of an indefeasible estate in fee
simple in the Land and real property hereby mortgaged, has
good and absolute title to all existing personal property :
hereby mortgaged or made subject to the security interest here- '
by created and has good right, full power and lawful authority ;
to convey, mortgage and encumber the same as provided herein;
that Mortgagee may at all times peaceably and quietly enter
upon, hold, occupy and enjoy the Land and real property hereby
mortgaged and every part thereof; that the Land, real property '
and all existing personal property hereby mortgaged or made ~
subject to the security interest hereby created is free and `
~ clear of all liens, security interests, charges and encumbrances
whatscever, except for the lien for property taxes not yet due
~ and payable and those permitted encumbrances, if any, described
~ in Exhibit "A-1". Mortgagor hshall and will make such further as-~
surances to perfect Mortgagee's fee simple title to the Land
and the real property hereby mortgaged, and the title to the
x personal property hereby mortgage or made subject to the secur-
~ ity interest hereby created as may reasc~ably be required.
~ Mortgagor fully warrants the title to the Land, real property
and all existing personal property hereby mortgaged or made '
subject to the security interest hereby created and every part
thereof, and will forever defend the same against the claims of
all persons whomsoever.
~ 1.03 Zoning. Mortgagor covenants and warrants that
~ all applicanle zoning laws, ordinances and regulations affecting
~ the Land permit the use and occupancy of the Improvements.
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- 1.04 Taxes and Liens.
(a) Mortgagor shall pay promptly, when and as due,
~ and shall promptly exhibit to Mortgagee receipts for~the
payment of, all taxes, assessments, rates, dues, charges, fees,
~ levies, fines, impositions, liabilities, obligations and encum-
~ brances of every kind whatsoever now or hereafter imposed,
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