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(c) Nothing iii tl~is Scction 1.07 shull rcquirc thc papmcnt or
. tliscLarge of any oLlihstion iinPoseci upon tLa Iitortgngor bp this •
Scctio~i so louo ns thc ltortga~or sliall in good f:~itii nnd ut its o~cn
e~cpenso contest tl~e s~unc or thc valiclity tl~creof Uy appropriate lc,al
proccedii~~s ~vhich sl~all opcrlte to prevent the collcction tl~creof or _
other rc~liz~tion thercoi~ and tlie salc or forfciturc of the Premises
or uny plrt thercof to satisfp the s1me; provided t~at durino sucb
contest the Dlortgapor sl~all, at tlie option nf thc \Lortga~ee, provide
secnrity satisfactory to t)ie ~iort~agce, assurinb tLe discliaroe of ihe
Mortgagor's obligation l~erennder aud of nnp additionzl charbe, pen- .
81ty or espense arisin~; from or iiicurred ns a result of such contest; ~
. and providcd fnrthcr, that if at ~ny timc payment of any obli;ation im- -
posed upon the lloct;a~or Uy suUsection (a) of tl~is Section shall be-
come neccssary to prever,t the dcli~cry of a taz dced conreyina the
~3orts~i~ed Pro~ertp or 1ny portion thercof becausc of non-pa~rvent,
then Dtorfoabor sh~ll pa}- tlie s~mc in sufT'icient time to preQent ti~e ~
E delivery of such taa clced. - ~
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~ - SECriov 1.03. The ltortaayor «ill ~ay ~np taees escept income
3 taaes imPosed on the llor' oagce Uy reason of its o~vnersl~ip of the
' Note or t.his Liort~abe.
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~ ~ SECriox 1.09. (a) The \iortbagoi• ~ill keep the Improrenie~ifs
~ and CLatfe,s iusured ary•iinst loss b fire casualt and such other
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~ hazards as map be speci~eci bp tLe ~fort,a~ee for the benefit of the
~ ~ ~Iliortgagee. Such insurai~ce si~all be a•ri~ten in forms, amounts, a;~d b~ ~
~ companies, saiis:actory to the ~fort~a~~e, and Iosses thereunder shall
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~ bo payab:c to the \Ior(fl~:~~ee pursulizt to a stanciard ~rst ~ort~a~e •
~ _ endorsement s~:usiantiall~ equivalent to the \•e~v S'm•;~ ~+?~~~r.? ;r~.~_
~ ..c.., ~ ~Pl. ~ ..7:.,~ t , . _ r
~:w ~'u~_ee e .O. ....::~ii~, i_.., " . i:Ia.a.a a Gi .il'aC[1 IIIJUTa ' -
~ r~'-w ' r ~ lnce si~ail be
delivered to the Zlortaa~ee. Thc .llortnr.bor sl~all si~e the ~fort~;aace
~ prompt noiice of ai~y loss co~ered Uv sucL insurance and tlie llort;agee ~
shall huvc tuc rial~t to join tiic :lfortnaaor in adjusti~i~ anp Toss in . ~
x~~ eacess of ti~0,0.`'i~. ~~n~ moners receiced as pay-rnent for any loss under ~
`j any such insurance sl~all l;c naid o~~er to tlie :llorf~a~ce to bc Q?Piied
_ ~ ' at tr.e option of the I:ortga~ee either to t~ e prepay-
- ment of the _~ote, without premium, or to the reimburse- '
ment of the Mortgagor for expenses incurred by it in -
the restoration of the Improvements.
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' f r;,; 224 PACE
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