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1.11 EXPENSES. The "Borrower" will ~say or reimburse the
"Lender" for all reasonable attorney's fees, costs and expenses
incurred by the "Lender" in any action, proceeding or dispute of
any kind in which the "Lender" is ma~e a party, or appears as party
plaintiff or defendant, affecting the note, mortgage, borraaer or
mortqaged property, including but not limited to the foreclosure of
this mortgage, any condemnation action involving the mortgaged ~remises,
or any action to protect the security hereof; and any such amounts i
paid by the "Lender" shall be added to the indebtedness and secured
by the lien of this mortgage. ;
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1.12 "LENDER'S" PERFORMANCE OF DEFAULTS. If the "Borrower" ;
shall default in the payment of any tax or other imposition, in its
obligation to furnish insurance hereunder or performance or observance
of any other covenant, condition or term in this mortgage, the "Lender"
may perform or observe the same, and all payments made o r costs or
expenses incurred by the "Lender" in connection therewith, shall be
secured hereby and shall be immediately repaid by the "Borrower" to
the "Lender", with interest thereon at Fifteen Percent (158) per
annum. The "Lender" is hereby empowered to enter and to authorize -
others to enter upon the Mortgaged Prope rty or any part thereaf for
the purpose of performing or observing any such defaulted covenant,
condition or terms, without thereby becomin~ liable to the "Borrawer"
or any person in possession holding under the "Borrower".
1.13 BOOKS, RECORDS AND ACCOUNTS. The "Borrower" will keep
and maintain or will cause to be kept and maintained proper and
accurate books, records and accounts, ref lecting all items of income
and expense in connection with the operation of the premises or in
connection with any services, equipment or furnishings provided in
connection with the operation of the premises, whether such income
or expenses be realized by the "Borrower" or by any other person or
entity whatscever excepting sublessors unrelated to and unaffiliated
with the "Borrower" and who leased from the "Borrower" portions of
the premises for the purposes of occupying the same. "Lender" shall ~
have the right from time to time at all times during normal business
hours to examine such books, records and accounts at the office of
the "Borrower" or other person or entity maintaining such books,
records and accounts and to make copies or extracts thereof as
"Lender" shall desire. The "Borrawer" will furnish to the "Lender"
i within ninety (90) days after the end of each calendar year a balance
~ .sheet and income and expense statement as to the property encumbered ~
' hereby, both in aetail satisfactory to the "Lender", prepared and,
if required by "Lender", certified by a certified public accountant,
such balance sheet and income-and expense statement to include in-
~ come from all sources in addition to rental income from the Mortgaged
Property .
1.14 ESTOPPEL AFFIDP.VITS. The "Borrower", within ten (10) days
after written request from the "Lender" shall furnish a written
statement, duly acknowledged, setting forth the unpaid principal of,
and interest on, the note and whether or not any offsets or defenses
exist against such principal and interest.
ARTICLE TWO
F::
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Def aults
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2.01 EVENT OF DEF~IULT. The term Event of Default", wherever
~ used in the mortgage, shall mean any one or more of the follawing
~ events :
~
~ ~ (a) Failure by the "Borrower" to pay
~ r when due and payable any installments of principal/, interest
. n . . i
~ er ~ such failure shall conti.nue uaremedied for Ten (10) days after written notice -
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- thereof by registered mail to the "Borrower"; or
• (b) Failure by the "Borrower" to duly observe any other
~ covenant, condition or agreement of this mortgage for thirty (30)
days after written notice specifying such failure shall have been
given to "Borrower" by "Lender"; or
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