HomeMy WebLinkAbout1852 ` ~ ra.
f
be obligated to see to the proper application thereof; nor
shall the amount so released or used be deemed a payment
on any indebtedness secured hereby. Such application, use.,
and/or release shall not cure or waive any default or
notice of default hereunder or invalidate any act done
pursuant to such notice.- Mortgagor hereby irrevocably
apQoints Mortgagee attorney in fact of Mortgagor to assign
each such policy in the event of the foreclosure of this
Mortgage or other transfer of the title to the mortgaged
property in extinguishment, in whole or in part, of the
debt secured hereby. -
5. To pay: (a) at least 10 days before
delinquency all taxes, liens and assessments of-every type
or nature affecting said property and all rents or charges
for water and all assessments on any water stock; (b) when
due,-all other charges and encumbrances which may now or
shall hereaf ter be or-appear to be a lien prior to the
lien of this Mortgage, plus interest, fees and penalties
should any occur; (c) all taxes upon this Mortgage or the
interest of Mortg agee herein, or upon the note or debt
secured hereby; provided, however, that the total amount
so paid for any such taxes pursuant to this subparts
graph (c) together with the interest payable on said
indebtedness shall not exceed the highest lawful rate of
interest in California. In the event of the enactment of
any law imposing payment of -all or any of the -taxes
aforesaid upon Mortgagees or upon the rendering by any
court of a decision that the undertaking by-Mortgagor, as
herein provided, to pay any tax or taxes, is legally
inoperative, then and in any such event the debt hereby
secured, without any deduction, shall, at the option of
Mortgagee, become immediately due and payable, notwith-
standing anything containez~ herein or any law heretofore
enacted or hereafter enacted.
6. To comply with all laws, ordinances,
~ regulations, covenants, conditions and restrictions
~ affecting and to comply with all insurance policies
covering said property, and not to suffer or permit any
act to be done in or upon said property in violation
thereof.
7. To appear in and defend any action or
proceeding purporting to affect the security hereof or the
rights or powers of Mortgagee, and to pay all costs and
expenses incurred by Mortgagee, including cost of evidence
of title and attorneys' fees in a reasonable sum, in any
such action or proceeding-gin which Mortgagee may deem it
necessary to appear or defend, and in any suit brought by
Mortgagee to foreclose this Mortgage, including, without
limitation, costs and attorneys' fees incurred by
Mortgagee in any appellate proceedings arising from any
such. action or proceeding.
8. Should Mortgagor fail to make any payment or
to do any act herein provided, then Mortgagee, but without
obligation so to do and without notice to or demand upon
Mortgagor and without releasing Mortgagor from any
f
i
5
8~3i7 P~1849
s