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nlty or expcnsc arisi»n from or iucurred us a resuli of sucL contest;
• ancl I?ro~•i~f~•~l furlhec, that if at any tin~c I~a~•mc~il of :i»>• ol~li~atiun
imposc~l ui~ou lLo \lurl~u~ur Ly ,ul?~cclion (u) of iliis Seclion sl~ul!
becoine ncccssary to l~rc~ ent tite dclivcry of n tax ~tced com•c? in~ tl~o '
Dlort~abcil 1'roE~erly or 1i~y porlion tliereoC Lecause of »on-~~:~~ ~uent,
tLcti Dlortnaaor ~h:ill ~~ay tLu s:~uio iu suQicicnt timc to prc~ cut tlio
delivcry oi sucL tux Jec~l. . ~
SEC?IOfi 1.OS. Tl~c ~11ort:;a~or n ill p~y nny taxes e~cept incoi~ie ~
tures iniposc~i ou tl~e \Iort~;a~cc by rraso~i of ils o«ncrsliip of tho ~
Notc or tLis ~iort~aae. ~
SFCTio~ 1.OJ. (a) Tlic ,ltortoa~;or ~rill kcep tLc In~pro~•emcnts ~
and Clu~tlcls ii~surc~l a~.iii~st lo~s 1,~• firc, casuall3 and such otlicr ~
Lazards as n~,ty .~e specili~~t L~• llic ~[orto:i~cc. for tlic bci~efit of the
1lforta:laCC. Sucli i~~surance sL.ill Lc ritt~n in forms, amounts, ancl bv €
~ companics, citisfactory to tlic :llort~a~ec, and los,es tlicrewidcr sL111
be paSable to ihc \Iorl~u~ce pursuant, to a stanclurJ first mort~;a~c
; endorsciuent suLstaiitially equivllent to tLe ~'ew York standarcl mort-
= gagcc endo?•~ement. Tlic policy or Policics of such iitsurancc sh,~ll bc
€ delirered to tl?e ~tort~a~ce. ~ The :1[ort~~~or shall airc thc ~Iort~ajce
~ pron~pt noticc of any loss corcred bp such i~isurancc 1nd thc ~tort;a~ce
~ shall La~c ti~c ri~ht to join thc Jlort,a`,or in ndjustinc• am• loss.
* Any moneys received as payment for any loss under
~ any sucL ii~sura~?ce sL111 l~~ p~id orer to the ~tort,a~ee to be ~pplicd
~ at tl~c option of tlic Jlort;;a~ce citl?cr to the prepa} nicnt of tLc ~'ate,
~ witLout premiuui, or to th~ reimbursement of the ~fort~l~or for
~ ezpenses iucurred Ly it in tLc restor~tion of thc Imnroremcuts. <
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(b)~TLc \fort~agor shall not tzke out separate in~urancc con-
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current in form or contributin~ in tLe ecent of loss ~ritL tliat required ~
to be maint~ined imdcr tl?is Section 2.0~, unless tlie \tort^1~CC is
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~ included thcrcon as a nained insured ~rith loss pa~ablc to tlie llort,l,co .
under a stanclarcl mort;a~e endorsetnent ~of tLe el~araeter al~o~e
~ described. Tlie \fort~;a~or sliall imnicdiatclv notif~ thc ~fort,a,ce
= ~chenever 1nr siich separlte insurance is t.il:en out and shall Pron~ptly ~
~;~=i deliver to tLc ~fort'a~ec tLe policy or policies of sucL insurance.
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