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HomeMy WebLinkAbout1865 i a 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 appoints Mortgagee attorney in fact of Mortgagor to assign each such policy in the event of the foreclosure of this Mortgage or ether 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 pr-ion to the lien of this Mortgage, plus interest, fees and penalties should any occur; (c) all taxes upon this Mortgage or the interest of Mortgagee herein, or upon the note or debt secured hereby; provided, however, that the total amount so paid for any such taxes pursuant to this subpara- 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 Mortgagee, or upon the rendering by any - court of a~ecision that the undertaking _by Mortgagor, as herein provided, to pay any tax or taxes, is legally inoperative, then and in any such even*_ the debt hereby secured,-without any deduction, shall, at the option of ~i Mortgagee, become immediately due and payable, notwith- j standing anything contained 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 in 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 5 ~ 1