HomeMy WebLinkAbout1041 ::tll: promptly cure any violation of law and comp~y with a~y order of said
~urisdiction in respect of the repair, replacement or condition of the sidewalks
~;r curbs in front of ar adjoining the Premises, that, if Mortgagor shall default
~~1 making such payment and obtaiaing such discharge or in curing any such vio-
~~tion, Mortgagee may make such payment, together with penalties and interest
;.tlereon, and obtain such discharge, and cure any such vio2ation, and the amount
such payment and the expenses incurred by Mortgagee in obtaining such dischan~ing
.,::d curinq any such violation shall thereupon be secured by this Mortqaqe and
i~~come a lien on the Mortgaged Property; and that Mortgagor wi21 repay the
.~r;~ount of such payment and such expenses to Mortgagee, together with in~erest
rilereon at the delinquent mortgage note rate, w~thin fifteen (15) days after
_i~.man~ for said payment is made by Mortgaqee to Mortgagor.
5. The Mortgagor, immediately upon obtaining knowledge of the
:r;stitution of any proceedings for the condemnation of ~he Premises or any portion
~?;ereof, will notify the ~dortgagee of the pendency of such proceedings. The
~;ortgaqee may participate in any such proceedings, and the Fiortgaqor from time
to time will deliver to the Mortgagee all instruments requested by it to permit
~uch participation.
6. That, notwithstanding any taking by eminent domain, a2teration of
c~~e grade of any street or other injury to or decrease in vaZue of the Mortgaged
~~:operty by any public or quasi-~ublic authority or corporation, Mortgagor
;.,~11 continue to pay interest as provided in the mortgage note until any such
.:ard or payment shall have been actually received by Mortgagee and any reduction
the principal sum resulti~g from the application by Mortgagee of suc:~ award
.r payment as hereinafter set forth shall be deemed to take effect only on the
:~te of such receip~; that said award or payment may be applied, in such pro-
~rtians and priority as Mortgagee in Mortgagee's sole discretion may elect, to
~i;~_: payment of principal, whether or not then due a~d payable, or any sums
_:~cured by this Mortgage and/or to payment to Mortgagor, on such _terms as Mort-
gagee may specify, to be used for the sole purpose of a2tering, restoring or re-
Uuilding any part of the Mortgaged Property which may have been altered, damaged
~r destroyed as a result of any such tak'ing, alteration of grade, ar other
.r:jury to the Mortgaged Property; and that, if prior to the receipt by Mortga~ee
~f such award or payment, the Mortgaged Property sha21 have been sold on fore-
~losure of this Mortgaqe, Mortgagee shall have the right to receive said award
:r payment to the extent of the Mortgage debt remaining unsatisfied after such
;ale of the Mortgaged Property, with legal interest therean, whether or not a
d~ficiency judgment on this Mortgage shall have been sought or recovered or denied,
~:~d of the reasonable counsei fees, costs and disbursements incurred by Mortgaqee
;n connection with the collection of such award or payment.
7. The Mortqagor shall furnish to the Mortgagee, within thirty (30)
~ays after a request by the Mortgagee to do so, a writt~n statement containing
tne names of all lessees of the Premises, the terms of their respective leases,
t<<e spaces occupied and the rentals paid. Mortgagor, upon request of the Mort-
;aee, shall deliver tv Mortgagee an assignment in recordable form, of all Lessor's
~nterest in said leases toqether with proof of due service of a copy of said
3ssi~~ment on each lease.
8. That Mortgagor hereby assigns to Mortgaqee the rents, issues and
;~rofits of the Mortgaged Property as further security for the payment of the
~ndebtedness secured hereby and Mortgagor qrants to Mortgagee the right to
enter the Mortgaged Property for the purpose of collectinq the same and to let
the Martgaged Property, or any part thereof, and to apply said rents, issues and
~:rofits, after payment of all necessary charges and expenses, on account of said
~:~3ebtedness; that this assignment and grant shall continue in effect until the
indebtedness secured by this Mortgage is paid, but Mortgagor shall be entitled
to collect and receive said rents, issues and profits, until the occurrence of
a default by Mortgagor under the terms and provisions hereof; that Mortqagor agree
to use said rents, issues and profits in payment of Principal and/or interest
F~ayable pursuant to the Note, and in payment of all taxes, assessments, water
rates, sewer rents and other charqes on or aqainst the Mortgaged Property; that
~~uch right of Mortgagor to collect and receive said rents, issues and profits
.~~ay be revoked by Mortgagee upan any default by Mortgagor under the terms and
~~rovisions of this Mortgaqe by giving not less than five (5) days written notice
:~f such revocation to Mortgagor; that Mortgagor sh-all not have the right or power,
js against the holder of this Mortgage without its consen~, to cancel, assign,
~bridqe or otherwise modify tenancies or leases of the Mortgaged Property, or
~ny part thereof, now or hereafter in existance, or to accept pre-payments of
installments of rent to become due thereunder for a period of more than one
;nonth in advance; that, in respect of any such lease which now or at any time
~s covered by such restriction, Mortgagor will (a) fulfill or perform each and
~~very term, covenant and provisian of any such lease to be fulfilled or
performed by the lessor thereunder; (b) give prompt notice to Mortgagee of any
:~otice received by [4ortgagor of default by the lessor thereunder, together with
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GREENE AMO LAfNE PA,ATTORNErS AT lwW, 320 N E~Q•" STREfl. H~~?~i, i~pR~OA 33~J2
, , , 8041(~~~ PACf~~~1
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