HomeMy WebLinkAbout0543 ~ , .
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; • _ witLout luni[ation, procceds of insurance nnd condemnution .
' awurds;
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: • ' (v) ull lcases of thc Premises no~v on c~reafter entered into
± . and ull ri~lit, tltle nnd ii?lcrest of tlie Aiortga~or tl~crcundcr, in-
' -cluding, ~r•itl2out limitatio~~, cash or sccnritics dc~~osited tliereundcr ~
. to secure pcrl orma~icc Ly tl~c lessecs of thcir oUli;ations thcre-
- . under, ~cLcilicr such cash or securitics are to ~c lield nntil the
; " eYpiration of tlie terms of snch leases ~?r applicd to one or more
i of the instalments of rent cominn- duc imniedi~tcly prior to tho
~ eapirutiou oF such terms, incindina, fnrtLer, the rinht npon t[~e
~ hAppening of an ~vent of Default, to receive und coilect the rents -
; tliereuudcr;- t~nd -
' ' (vi) tlic Perxulnent Commitment, if any, as that term is
. defined iu thc P,uildin~ Loan ~lgreement and all amounts pay~Ule _
~ _ fA the blorEgaao~ thercuncicr.
' To HevE AtiD ro HoLn uuto the 1liortgaaee, its successors and
. assigns forever. : ~
~ AItTICLE I
PAETICULAft CO\'EVAITS OF TIIE I~TUATQ~GOB
~ ' The ~Iortga~or corenunts and abrees as folla~rs:
. . SECTiox 1.01. The .liortan~or ~arranis that it has a good and
marL-et~ble title fo au indefezsiUlc fee estatc in the Premises subject to
` no lien, char~e or cucumbrance e~cept sucl~ as ure listed as esceptions
. to titla in tLe title Policy iiisui•in~ t}~e lien of tlus Dfortgage; that it ~11
omn tLe Chat±ets free and clear of liens and clniins; and that this
~ ~tortgn~e is and ill remai~i a ~zlid and enforceable first lien on the
; bfortga~ed Properts subject onis to the eacePtions referred to abo~e. '
; T~ie ~ior~aaoor l~;w iuii ~~u~~•er anci ia~cfnl auiLority to mort~age the
~Oi ~o.ao~C~ PTOj',erty in tha m.~uuci' ~ll(~ ~Orn~ nerein done or iniended
. hereafter to Ue doiic. Tlie llort~a~or ~cill preserve sucL title, and
- will forever ~nrrant and defend tl~e same to the ~fort~l~ -
~ ~ce and ~ill
; forevcr «arr~nt and defend thc ~alidity and Priority of tLe ]ien hereof
` against tbe claims of all persons and parties ~rhomsoever.
- SECTIOX 1.02. The ~lfortna:;or ~vill, at the cost of the ~fortga~or, .
i+ . and ~rithout espensc to the 1lort~a~ec, do, eaccute, acl.-no~ledae and
~ deli~er all und ecery such further acts, deecls, conveyanees, mor~ga~*es,
~ . assign~e»t9, notiees of assiann~ent, s assurar.ces as the
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1liort~a~eo shall from time to time/require, for the better assnrin~,
convesing, Assioiung, transferrinb and confirming unto thc aLortglgee
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