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HomeMy WebLinkAbout1125 Article 6. Warranty of Title The Mortgago~ covenants, warrants and repre- ~ sents that it is lawfully seised in fee simple of the Premises, and that the same are free of all liens and encumbrances except as otherwise recited herein; that Che Mortgagor has a good right, full power and lawful authority to mortgage the Pre- mises; that the execution of this Mortgage by the individual named herein is binding upon the Mortgagor; and that it will forever warrant and defend the title to the.Premises and the validity and priority of the lien of this Mortgage against the claims of all persons and parties whomsoever; that it will own the Chattels free and clear of liens and claims, and, if the Mortgagor is a corporation, that the execution and delivery of this Mortgage has been authorized by its board of directors. Article 7. Payment of Indebtedness . The Mortgagor will punctually pay, or cause to be paid, the principal and interest and all other sums to become due in respect of the Note and Mortgage as modified hereby, at the time and place and in the manner specified herein, according to the true intent and meaning hereof, all in the coin or cur- rency of the United States of America which at the time of such payment shall be legal tender for the payment of public and private debts. Article 8. Payment of Impositions i ~ The Mortgagor from time to time when the same ~ shall became due, and as soan as the same become liens whether i ~ or not then due_and payable, shall pay and discharge all taxes f of every kind and nature (including real and personal property = ~ taxes and income, franchise, withholding, profits and gross ~ ~ receipts taxes), all general and special assessments, levies, ~ permits, inspection and license fees, all water and sewer ~ rents and charges, and all other public charges whether of a like or different nature imposed upon, or assessed against, ~ the Mortgagor or the Premises, or any part thereof, or upon the revenues, rents, issues, income and profits of the Pre- ~ mises or arising in respect of the occupancy, use or possession = ~ thereof (the "Impositions"). An assessment which, by its terms ~ ~ or upon application of the Mortgagor, may be paid in installments ~ shall, nevertheless, for the purposes of this Article, be deemed ' ~ due and payable in its entirety on the day the first installment ~ becomes payable. The Mortgagor will, upon request, deliver to ~ the Mortgagee receipts evidencing the payment of all such Imposi- ~ tions. The M~ortgagor shall not be entitled to any credit a~ainst ~ the payment of interest required to be made under the Note or ~ Mortgage hereunder, or any other indebtedness secured hereby, by ~ reason of Che payment of any of the aforementioned impositions. s ~ ~ ~ ~ -5- ~ BooK238 P~~f1124 ~ c~ ~ ~ ~ sr-w.r: -s,~z".`~.~~~,.-'~~` - - ~ - - - ` a~' r'~ i- :t:`.