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~ part to do so) may place fnsurance on any building on the
premises, pay the premiums and charge the sums so paid, i
together with a service fee of ten percent (10$) of their
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amount, to the mortgagors. The sums of money so paid shall i
bear interest from the date of payment at the rate of eight
percent per annum (8$). In the event of a loss by fire or t
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other casualty, the mortgagors will give immediate notice by ~
mail to the mortqagee. It is understood between the mortgagors +
and mortgaqee that the said insurance premiums are payable
as per the escrow agreement of the senior mortgage as referred
to in paragraph seventh. -
NINTH: That dll Q!?!!?R ~+f mnncav c~a~»rr~~i, r>ai_ra nr na11GAfZ
to be paid by the mortgagee under the terms of this mortgage
and herein specifically provided for, including any expenses
incurred by the mortgagee in collection of the sums secured
by this mortgage shall be covered by the -lien of this mortgage
the same as the sums of money represented by the note secured
by this mortgage. If the mortgagee received any sums as
escrow deposits for taxes, insurance or other items, sums
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shall be comingled and advanced by it for the stated purposes.
- TENTH: Mortgagors agree to permit, commit or suffer no
!I waste, impairment or deterioration of the property, or any
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' part or it. Upon the failure ot the mortgagors to keep the ~
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~ buildings on the property in good condition or repair, the
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~ mortgagee may make demand either.for the immediate repair of
~ the buildings, an increase in the amount of security or the .
a
immediate repayment of the debt secured. The failure of the
~ mortgagors to comply with the demand of the mortgagee for a
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~ g~riod of fift~en (~53 days sha~l ct~nstitu~e a b~~ach of
~ this mortgage and, at the option of the mortgagee, immediately
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mature the entire unpaid principal and interest secured.
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~ The mortgagee, without notice, then may institute proceedings
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~ to foreclose this mortgage and apply for the appointment of
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~ a Receiver, as hereinafter provided. Mortgagee may make or
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~ cause to be made reasonable entries upon and inspections of
~ the property, provided that mortgagee shall give mortgagors :
~ a
~ notice prior to any such inspection specifying reasonable
~ cause therefor related-to mortgagee's interest in the property,
~ and further, provide said inspection and entries do not :
~ ti_?._ . ~