HomeMy WebLinkAbout0584 lender's approval as to amount, com~~any, form and expiration date.
Upon exercise of an~? power ot sale given ~n this mortglge or
other acc~uisitio» of the premises or ~ny part thcreof by Mort-
gagee, such policies, aUstracts and title evidence shall become
the absolute property of riortgagee.
f>. To first obtain the wri~ten conse~lt of DSortgagee,
such consent to be granted or withhcld at the cole discretion of
such riortgagec , before (a) removing or der:tolishing any building
now on c~reaFter erected on the premises, (b) al~ering the ar-
rangement, design or structural charac~er tt~ereof, (c) making
any repairs ~~hich involve the removal of structural parts or the
significant e~~osure of the enterior of such buildings to the
elements, or (d) cutting or removing or permitting the cutting
and removal of any trees or tir.iber on the prer.iises .
7. To maintain premises in good condition and repair,
including, but no~ lir:iited to the making of such repairs as Mort-
gaqee may from time to time deter.nine to be necessary for the
preservaL-ion of the prer.iises and to not commit nor permit any
waste thereof.
8. To comply with all laws, ordinances, regulations, .
covenants, conditions and restrictions affecting the premises
and not i:o suffer or permit any violation thereof.
g. If Mortgagor fails to pay any claim, lien or encumb-
rance which is superior to this mortgage, or, when due, any tax
or assessment of insurance premium, or to keep the premises in
repair, or shall cor.~r.iit or perr.~it ~~aste, or i.f there be commenced
any action or proceeding af~ecting the premises or the ti~le ~
thereto, or the interest of tlortgagee therein, including, but-,~-~
not limited to, eminent domain and bankruptcy or reorganization
proceedings, then t-Iortgagee, at its option, may pay said claim,
lien, encumbrance, tax, assessment, or prer.iium with right of
subrogation thereunder, r.iay make silch repairs and take such steps
as it deems advisable to prevent or cure such waste, and may
appear in any such action or proceeding and retain counsel
therein, and take such action therein as tiortqagee deems advis-
able, and for any of said purposes P~Sortgagee may advance such
' sums of money, including all costs, reasonable attorneys' fees
' and other items of expense as it deems necessary. Mortgagee shall
~ validit and priority of any
be the sole judge of the legality, Y
such claim, lien, encumbrance, tax, assessment and premium, and
of the amount necessary to be paid in satisfaction thereof. Mort-
gagee shall not be held accountable for any delay in_r.iaking any
such payment, which delay may result in any additional interest,
costs, charges or expenses othenaise.
10. 24ortgagor caill pay to Mortgagee, immediately and
without demand all sums of money advanced by t•iortgagee pursuant
to this mortgage, including all costs, reasonable attorneys' fees
and other items of expense, together with interest~~nannum,sand
advancement at the rate of fifteen percent (15~) p _
all such sums and interest thereon shall be i~cuto anerlien,Msuch
~ gagee is hereby subrogated for further secur y Y
as a mechanic's lien, or any and all other encumbrances paid to
preserve its intended lien hereunder or otherwise paid on behalf
of Mortgagor.
11. All sums of money secured hereby shall be payable
without any relief whatever from any valuat.ion or appraisement
laws.
12. If default should be made ~ornci~allor interesteof~l5)
' days in payment of any installment of pri P ment when due,
said note or any part thereof when due, or in pay
of any other sum secured her.eby' without notice or demand v~hich
eo~ 225 ~E 583
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