HomeMy WebLinkAbout2340 9. To save Mortgagee harmless from all cost and expense, including
reasonable attorney's fees, and the cost of a title search, continuation
of abstract and preparation of survey, incurred by reason of any action,
suit, proceeding, hearing, motion or application before any court or
administrative body in and to which Mortgagee may be or became a party
by reason of this Mortgage, including but not limited to condemnation,
bankruptcy, probate and administrative proceedings, as well as any other
of the foregoing wherein proof of claim is by law required to be filed or
in which it becomes necessary to defend or uphold the terms of this
Mortgage and all money paid or expended by Mortgagee in that regard,
together with interest thereon from date of such payment at the highest
rate permissible under the laws of the pertinent jurisdiction, and if no
maximum rate has been promulgated, then at a rate six (6 per cent higher
than the rate set forth in said note, shall be so much additional indebt-
edness secured hereby and shall be immediately and without notice due and
payable by Mortgagor. -
10. That all awards and other compensation heretofore or hereafter
to he made to Mortgagor and all subsequent owners of said premises in
any taking by eminent domain, either permanent or temporary, of all or
any part of the said premises or any easement or any appurtenance thereto,
including severance and consequential damages and change in grade of any
street, are hereby assigned to Mortgagee, and Mortgagor hereby appoints
Mortgagee as its attorney-in-fact, coupled with an interest, and authorizes,
directs and empowers such attorney, at the option of said attorney, on
behalf of Mortgagor, its heirs, personal representatives and successors
and assigns, to.adjust or compromise the claim for any such award and to
collect and receive the proceeds thereof, to give proper receipts and
acquittances therefor and., after deducting any expenses of collection,
to apply the net proceeds as a credit upon any portion, as selected by
Mortgagee, of the indebtedness secured hereby, notwithstanding the fact
that the amount owing thereon may not then be~due and payable or that the
indebtedness is otherwise adequately secured. Mortgagor further cove-
nants and agrees to give• Mortgagee immediate notice of the actual or
threatened commencement of any such proceedings under eminent domain
and will deliver to Mortgagee copies of any and ali papers served in
connection with any such proceedings. Mortgagor further covenants and
agrees to make, execute and deliver to Mortgagee, at any time or times,
upon request, free, clear and discharged of any encumbrance of any kind
whatsoever, any and all further assignments and/or other instruments -
deemed necessary by Mortgagee for the purpose of validly and sufficiently
assigning all such awards and other compensation heretofore or hereafter
` to be made to Mortgagee (including the assignment of any award from the
United States Government at any time of ter the allowance of the claim
therefor, the ascertainment of the amount thereof and the issuance of the
warrant for payment thereof.)
11. That Mortgagor, within five (5) days upon request by mail, will
furnish a written statement duly acknowledged of the amount due upon the
note secured hereby and whether any offsets or defenses exist against
said indebtedness.
12. That Mortgagor and all subsequent owners of the said premises
~ shall keep and maintain full and correct books and records showing in
detail the earnings and expenses of said premises and shall permit
Mortgagee or its representatives to examine such books and records and
all supporting vouchers and data at any time and from time to time on
request, at the offices of Mortgagor or at such other location as may be
mutually agreed upon, within ten (10) days after demand therefor and, in
any event, within sixty (60) days following expiration of Mortgagor's
first fiscal year and of each fiscal year thereaf ter during the term of
this Mortgage, will furnish to Mortgagee a statement showing in detail
all such earnings and expanses since the last such statement, verified
- by the affidavit of its principal executive officer; and in the event
3 that such statement shall be inaccurate or false, or in the event of the
failure of the Mortgagor or any subsequent owner to permit Mortgagee or
its representatives to inspect said books on request, Mortgagee may
consider such acts of Mortgagor as a default hereunder- and proceed in
accordance with the rights and remedies afforded it under the provisions
of this instrument.
:a
L Rr c)lJ ~ 2~7
-5- ~~i;.. F,SGE
~ . _ _