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HomeMy WebLinkAbout2535 MTG-1-A-4/23/73 all after acquired property located in or on, or attached to, or used or intended to be used in connection with or with the operation of, the Mortgaged Property or any part thereof. 1.11 Leases Affectin Mort a ed Pro ert . Mortgagor shall comply wit and observe its o igat ons as landlord under all leases affecting the Mortgaged Property or any part thereof. Mortgagor, if required by Mortgagee, shall furnish promptly to Mortgagee executed copies of all such leases now existing or hereafter created, all of which shall be in form and substance subject to the approval of Mortgagee. Mortgagor shall not, without the express written consent of Mortgagee, modify, sur- render, terminate or extend any such lease now existing or hereafter created, or permit or suffer an assignment or sub- lease. Mortgag~r shall not accept payment of rent more than two (2) months in advance without the prior written consent of Mortgagee. 1.12 Expenses. Mortgagor shall pay or reimburse Mortgagee for all costs, charges and expenses, including reasonable attorney's fees and disbursements and costs incurred or paid by Mortgagee in any threatened, pending or completed action, pro- ceeding or dispute in which Mortgagee is or might be made a party or appears as a party plaintiff or party defendant and which affects or might affect the Note, this Mortgage or any other instrument securing the Note, or the Mortgaged Property - or any part thereof, or the interests of Mortgagor or Mortgagee therein, including but not limited to the foreclosure of this Mortgage, condemnation involving all or part of the Mortgaged Property or any action to protect the security hereof. All costs, charges and expenses so incurred or paid by Mortgagee shall become due and payable immediately, whether or not there be notice, demand, attempt to collect or suit pending. The amounts so incurred or paid by Mortgagee, together with interest thereon at the Default Rate as hereinafter defined from the date incurred until paid by Mortgagor, shall be added to the _ indebtedness and secured by the lien of this Mortgage. 1.13 Mortqagee's Performance of Defaults. If Mort- gagor defaults in the payment of any tax, assessment, encumbrance = or other imposition, in its obligation to furnish insurance here- under or in the performance or observance of any other covenant, i condition or term in this Mortgage or in any other instrument ; securing the Note, Mortgagee may at its option perform or observe j the same, and all payments made (whether such payments are regular ; or accelerated payments) and costs and expenses incurred or paid ~ by Mortgagee in connection therewith shall become due and payable immediately, whether or not there be notice or demand. The amounts ~ so incurred or paid by Mortgagee, together with interest thereon ~ at the Default Rate as hereinafter defined from the date incurred until paid by Mortgagor, shall be added to the indebtedness and secured by the lien of this Mortgage. Nothing contained herein shall be construed as requiring Mortgagee to advance or expend ~ monies for any purposes mentioned in this paragraph, or for any other purpose. Mortgagee is hereby empowered to enter and to ~ authorize others to enter upon the Mortgaged Property or any - part thereof for the purpose of performing or observing any such ~ defaulted„covenant, condition or terms, without thereby becoming ~ liable to N:ortgagor or any person in possession holding under ~ Mortgagor. - 1.14 Books and Records. Mortgagor shall keep and ~ maintain at all times complete, true and accurate books of ~ accounts and records reflecting the results of the operation ~ of the Mortgaged Property. If requested by Mortgagee, Mortgagor ~ shall furnish to Mortgagee within ninety (90) days after the ~ end of each fiscal year of Mortgagor a balance sheet and a ~ statement of income and expenses, both in reasonable detail, . ~ . ~ ~ -9- ~ ~ tl R gDUf~,~~ ~Pf~F~ K:,. ~ f ~ _ _ - ,~y~ i .R _ . _ _