HomeMy WebLinkAbout1135 (viii) if, on applicaCion of the
Mortgagee, two or more fire insurance
companies lawfully doing business in
the state cvhere the Premises are
located refuse to issue policies in-
suring the Improvements;
(ix) in the event of the removal,
demolition or destruction in whole or .
in part of any portion of the Improve-
ments or the Chattels, unless the same
are promptly_replaced by similar Im-
provements and/or Chattels, as the case
may be, at least equal in quality,
utility, value and condition to those
replaced, free from any lien, charge,
or encumbrance thereon and free from
~ any reservation of title thereto;
t
(x) in the event of the passage
of any law deducting from the value of
land for the purposes of taxation any
~ lien thereon, or changing in any way the
taxation of mortgages or debts secured
thereby for state or local purposes; ~
(xi) if the Mortgagor fails to ~
; keep, observe and perform any of the ~
other covenants, conditions or agree- ~
; ments contained herein or in the Note
~
; or M,ortgage;
:
~
~ (xii) if the Mortgagor refuses to
~ permit the Mortgagee, its agents or em-
~ ployees to inspect the Premises;
~
~
(xiii) the appointment, by order of ;
~ a court of competent jurisdiction, of a ~
~ trustee, receiver or liquidator of the ~
~ Premises or any part thereof, or of the t
~ Mortgagor; ~
~
:
(xiv) the filing by or against the }
uT Mortgagor of a petition in bankruptcy or ~
~
~ - for an arrangement or for reorganization
~ pursuant to the federal Bankruptcy Act or
~ any similar law, federal or state, or if
by a decree by a court of competent juris-
diction the I~rtgagor shall be adjudicated
' • a bankrupt or declared insolvent, or shall
~ make an assignment for the benefit of
~ creditors or shall admit in writing its
inability to pay its debts generally as
~ they become due or shall consent to the
~ -15-
~ OR
~ sooK238 PAGE1134 ;
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