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Home My WebLink About0178 f , . , , ~ r ~ ~i. ';'lie :lort~;a;;or ai 11 not vol~intari ly create, or per~ait or suiler to be ereatc~i or ~to exist, on or a;;ainst ti~~• mort~a~ad prop~rty'~ or any part'thereof, any ] i sn superior to the lia~~ ~f Cliis Pbrtgaga, excluaiv~ of ~hQ lien or liens ~ ~ i:' a~;~, to whicli th.is Mort~age is expressly subject, as set forth in tho ~rantinr ~ cla~~s~~ :ibove, and will keep an~l main~ain the same free froat the claims of all ~rt;: s s~~pplyi~,s; labor or matcrials wl~ich Will enter into the conatruction or ~ InstallaLiun of the Improve~nents. ~ 1 i t•. (a) ;'l~e tic~rtsagor will kc~~n all Luit~iin~s, other structurea and improve- ~ ~:~e~~ts, is~clu•'in ; equipaQent,. nar exis~in~; or which may hereafter be erected or ~ inatalled on the land murc~aged hereby, insured against loss by Pire and other ~ hazards, Gasualties and contin~encies, in such umounts ac~d ~?arner, and for sueh ; periocls, all as may be required from tir~e to tirne by th@ t{~ortgi~g4e. Unless ~ othenaise required by the MortPagee, all such i.nsurance shall be sffected by Skandard Fire~ and Extende~i Covcra~~ Tnsurance policies, in aroownts not less ~ than necessary to compl~ Witt~ the coinst~rance clause percentage of Che value i applicable to ti~e 2ocation arnl character of the property to be coverecl. All ~ such insurance s}~all be carried in'compa~ies approved by the I~brtgagee and .all F poltcies thcrefc+re shall be.in such form and shall have attached thereto loss ~ payable clauses in favor o: the rtort~agee and any other pArties as ahall be j s:llisfactory to the I~[orC~;agee. All such palicies and Attachu~ents thereto sh311 ' • 1,e ~tpl ivered promptly to the :brt;;agee, unless they are requfred to be deliverecl ~ to the holder of a lien of a r.+ort;;~,;;e or similar instrument to wl~ich this ; Mor~^a~;e is expressly subj~ct, in Wl~ich latter event, certificates thereof, ; ~ satisfac:tory to tl~c Morti;af;ec, si:all l~c de2ivered promptly to the :~{orCgagee. ; Thc Mort},ar,or will pay ~roa~ptly wt?en duc~ as hereinafter providcd„ any ~and all ~ pr~:niums on such insurancc, ai~d in evcry case in ~thich.payment thereaf is not ; made Erom the deposits theretor requi~-e~l by this Mort~ege, promptly submit to the Morts;a~ee for examination rcceipcs ar other evidenc~ of such payment as shall be satfsfuctory to the :k~r~;;a~;c~:. The Mortgagee may obtafn and pay the rremiwe on (but ~hall be vn~ler no obli~aCion ~to do so) every kind of insurance - - required.hereby is thc a:nount of such premium has not been deposited as requirec~ hy this rUort,ane~ in which evec~t the Mortgagor will pay Eo t:ie Zbrtgagee every premium so paid by the !!ort~;aree. .(b) In the e~ent of loss or dama~e`to the mort~aged property, the _,kMrt ;ap_.or will ;ive to the. tiort;;a~ee immediate notice thereof by mail, and thc :~lort;;a~ce m.ay ~cake and file proos ~f loss if not made othenrise promptly by or bel~alf of the t+fort~a;;or. Esct~ ins~irance canpany issuing acty such policy is ; hc•re1>y auth~ri2~~d and direcced to make ~ayment thereunder fvr such loss to the ~ '~tortg~gor atxl the ~iortoagee jointly, unles5 [he aaiount of loss is payable first i i t-o t~e holder of a, lien under a mor~7age or similar instrucaent to ~rhich this ` ~ !iort;a~;e is expressly subject; and ti^c insurance proceeda, or any-part thereof, ~ i f recei~~e~~ hy the A:ortga~ee, may i~c applied by the Mortga~ee, at its option, ~ efther ir~ eeductfon of the indebtedness hereby secured, or to the restoration ~ or repair of the mort~a~ed property dama~ed. In the event of foreclosure of ' this r:ort:;a:.e, or of an•r trans€er of title to the mort~;aged property in extin- ~;uishment of such in•iebteclness, all right•, title and interest of the riortgagor i in and to ever~ such insura~:ce po2icy then in force, subject to the rights anc~ - ~ interests of the holder of any st~cl~ prior lien, shall gass to the grantec acqui.rin; ti~le to the r.~orz~;a;:ed ~•ro~+~~rty together with such policy and appro- ~+ria~e assi~nment of s~~ci: rig1~C, citlc and interest which shall be made by the t~rt ;a,;or. - ~ . (a) In orde: more fully to protc~•t the security of this Mortoage, the Mort~ap,or s~~all deposit eriti~ tl~~ T:ort.t;a~;ee together With, an:: iR addition to, t!,e pa}~mei~~ ~f pi-incipal and interest monthly on account of ths Vote secured :er~l:y, until the Note is ,afd in full, an amount of money equal to the total ' a::iount of (i) ground rents, ;f a~y, ne::t becoming due, (ii) the premiums ner.t ~ beco~~i~~- due on the policies of fire arxl ~11 other hazard insurance required ~ by zhis :tort:~age wi th res~ect to the mor[~a ;ed property. (iif) t8xes, assess- ~ ments, c-,ater rates and uther ;overnmental charges aefc~ becoming due on the ~ mort^a~;c•l groperty (all the fore~oino amounts as estir.~ated by the Mortgagee an~ set Eorth in a Written n~tice of such estimate by the Mortgagee to the ~ :tort;a;;or ~ron time to time), less all amounts that may slready have been paid ~ thereior, ~livi~ed by the number pf ~alendar months to elapse before one_c~lendar r.?onth ~r:or tc~ tt~e date ahen such ^round rents; premiums, ta:ces, as9essments, Nater rat~s and o[he.r p,overnment~l char~es, respectively, will become duP and ;~ayahle. If any.amaunt refcrred to in cluuses (i) throu~h (iii) hereof,is re~uire:l to bc depositetl bv the Mort~aoor under a mor[ga~e or Similar instrument ~~i . _ ; ~ , OR ~ _ ~ _ ~ - 3 - sooK~2 p~ ~?8 = { : ~ - - . _ _ - - : ~ r - ~r~ . ~ :k .~,q ,~..,r>.," _ _ ~ - ~..y- _ ~'a::_ , ~