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'i'he ;iu:-t•,a~~or wi 11 n~t volunC~~ri 1~• crPatc, o: pcrr~iC ar suf fer to be
creatc~' or ~o exist, on ur .~,;ainst th~• mort;;a~e~ propcrty, or any part thereuf,
an~~ !i~n supcrior to the licn ~f ~iiis Mort~a~e, exclusive of tl~e lien or liens,
i' an;•, to whicl: this Mort~age is ex~rE•ssly subject, as set forth in the ~;raatin~
cla~~s. ahove, and will keep a~i•! ~ain~ain the same free frc~r.~ the elaima of all
nsrt~'_ c c..nn~vinn lal+nr ..r .natnrialc vh:~h uill antar ~ntn fha rnnstr~~otinn t+r
inaCalla~ic?~i of the Improvements. ~
f•. (a) i'he t~iortN,aoor will ~cceP all h+~ildin~;s, other strucC~~res and improve-
~:~e~~ts, i~~clu~•in; equipment, nwa ~:xistin; ur which may }iereaEter be erected or
installed oii the land mort~aoed hereby, insi~r~ci asainst loss by fire and other
I~azards, casualties and contin~encies, in such amounrs and manner. and for such
periocis, all as may be required ~:om tirx~ to time by the Mortgagee: Unless
othcraise required by the Mort~a~cc, all such insuranc~: shall be e£fected by
Standard Fire and F.xten~3e~1 Covera~c~ Tnsurance~~olicies, in amounts not less
than necessar~• to comply witt~ the c~insurance clause gercentage ~f Cfie value
~pPlicable to tlie :ecation an~i chararter of the propc•rty to Ue covered. All
5uci~ insurance shall be carr:ed in companies appraved Uy the Mortgagee and all
~~oltcies therefor~ shall be in such form and shalZ have attached thereto lass
j~AY%l~~C ciaus~s in favnr ~E the i~tort~agee anci any o~her pa~tfes ~s s1tall be
s:llisfactory to [he Mortt;a~ ee. A11 such potici~s and t~ttach::tenrs thereto shall
~i~l i.vered praaptly to the Mo-t;~•ac,ee, unless they are required to be deliverecl
t~ thc nulclcr of a lien of a mort..^,a;;c oi• similar instrtmtent to wliich this
:~ort~•a,,e is expressly sub~cc<., ~n ~~t~ich latter event, certificates thereof,
sa~isfactory to the t~Mrt;;ar.ee, sl~all delivered pror.iptly to thc Mortga~ce.
The rbrt~,aror Will pay proa~Ptly wi~~n ~i~~c, as hereinafter providcd~ any and all
pr~miuns o~i such insnra~:cr, and i~~ evr~-y case i~ which pay:lent thereaf is not
made from the deposits therefor require~l hy this Mortp,fge, promptly submi[ to
the Mortna;e~ for examination receipcs or other evidence of such payn~ent as
shalt be satisfactor~• t-~-[he :+.~rt;~a;cc. The Mortgagee may obtain and pay the
premi~un on (but shali hc un~ler no obli~ation to do so) e~~ery ~:ind of insurance
requi r.~ci nerc~uy is tn~ amc~unt of such premium has not deen aeposiceci as requireci
hy this rbrtra~e, in ~~hich evenr tt~e Mort~agor 4ri11 pay to t~ie Ttortgagee every
premiwn so paid by the 'r!ortga;;ee.
(h) In tl~e e~ent of loss or dama~e to the mort~aged property, the
; ~~.~rt ;a,*~or will ;ive to the t~iorL~~a~;4e immediaCe notice thereof by mail, and tnc
~ '~!ort•;a~;cc may make and file proof o[ loss if not made othcrwise nromptly-by or
E hchalf o£ the 'iortga;~or. Ea~:lt insurance company issuin~; any such ~oit~y is
6 hc•rE•h.~ autt_c,ri~c~ci and directed to r,iake payment thereunder for such loss to the
~ 'tortg.~S~r airJ Et~e Mort~agce jointly, unless the amounC of loss is payable first
to the Izolder n~ a lien u~~der a r.?or~oage or sinilar instrument [o which this
~ :for.C;a;;e i:. expressly subject; and the insurancc proceeds, or any part thereof,
i f recc~i~~e~: hv the ~tortga~ee, may bc applied by the Mortgaoee, at its option,
eithc: ir~ :-eductian of the indebtedness hereby securcci, .or to the_ res~oratior.
or renair- of tt~e snortga~;ed proper. ty dama~ed . In the evenr of foreclosure of
this ;•tcrr:,a.-e, ~r of an;~ ~ ransfer ~C title to the r.iort~;aged property in extin-
fuisiir.~cnt of such ii~debtedne::s, all ri~h[, title and interc~st of tl~e :tortgagor ~
in and L-o every sucli insuran~-e policy then irt force, subject to the rights an~ _
interests oC tt?e holder of any such nrinr lien, shall pass to the grantee
acquirin_, ci~le to the nc>i-t~;.~^ecl ~ror~rt_y together witl~ suct~ po2icy and appro- ;
pr:ai:e assi;;nrtent of s~~ct: ri;;hC, t i t le and interest cahic}i shall be made by the ~
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~tort~a~~or. }
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~ (a) ]n order ~ore £u2ly ?o protc~•t tt~e security of this ?~torteage, the ~
Mort;a~or s.~all deposit s.~i ~ i~ ti~e i~:orl~;a<<e tobether with, anc' in addition to,
~ t'~e ~a}T~-n:. c~f ~rincipal and interest mont!:ly on account of the Vote secured ~
her~l;y, unt:l the ~ote is pai~l in full, an amount of money equal to the total
a:~ount of (i) ~;round rents, if sm~, ne:;t becoming due, (ii) the prer.~iuins next
~ .~e~or.~in~• clue on ehe pulicic:s ^f fi re and all other hazard insurance requir~d ~
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~y Chzs ''ort^age wi th res~~~ct to the mort~a ;ed propert~; (i ii) taxes, ass~ss- ~
~ meni.., t:ater rates and vther ^,overnme~ital ctiarges next becnmirtb due on the ~
~ ~^ort; a~ cr'~ pr~nert~~ (all the Lore~o~n~ a~nnunts as estimated by the Mor.tgagee
~ a~rl sec fortl~ in a written n~tice oi sach estimate by the 2•brt,.^,agee to the
~ :•tort;a;;~r ~ron time to time), less aIl anounts that may alrea~ty i~ave been paid
~ there"o:, ~livi•~ed by t'.~e nu;~l~er o~ calc~ndar ;nonths to elaFse before one ca:en~iar
~ r*,onth r-ic?r to [he date when such ~-round rents, prer.~iums, [a:tes, assessments,
caater rat~s an~3 other ;;nvernment~l char;es, respectively, will become du~ and '
~ ;,aya'~le. I: any anwunt :-efe~-red to in clauses (i) rhrou;h (ii.i) hereof is ~
~ re~ui c eJ to '~e deQosi ted by the ?iort~anor under a mor[ga;e or similar ir.strument ~
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