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HomeMy WebLinkAbout1639 . o. • i # j ~ • 3. (a) To pro rly care for and keep the premises in good condition and repair; (b) not to remove or demolish any building or improve- ments thereon without ll?e written consent of \lurtgagee; (c) to complete in.~a gax( and workmanlike mannor any building winch may be constructed thereon and to pay when due all claims for labor performed and materials furnished then:tw; (d) to comply with all lava. onlinancea, rcguh?tio»a, cuveuauta, n,nditiui,a anJ restrictions affecting the promises, and not to auRcr or {xrmit any vt Isuun tiN•re.?f; (e) to allow Mortgagee to inspect the {,rcmisca at an reasonable time; not to T:?,mmit or prrmit any waste or dcteri~.rati~ n „f the {,re- mises: (R) and to do any actor acts, all in a timely and pn,per manner, which fn,m the character or use of the premises, may I,e reasonably necessary to protect and preserve said premises, the specihe enumeraliuTia {ierein not limiting the general. 4. To pay when due. and without requiring any notice from MwtRagee, all taxes, assessments of any ty ,e or naturr, and other charges levicil or assc~l against the prcmisis Hereby encumbered aTxl ppnwluce receipts therefor up,n demand. 4f tax dcp:,sita are re+1iiinsl by \lortgagee in acconlance with ?llortgxgor's (:c,venaut \o. 6, Afortgsgur's primary liability tw taxes as herein stipulated shall remain in loll force and effect as herein provided, although the provisions ut said last mentioned covenant shall govern as to dep.,sits and pay- ments lherefrum by hlwtgagee. - _ _ _ - 5. '!'o keep the building and iml,ruvements now standingg nr hereafter erected upnn the mortgagcvl premises and any and all aP1>.+ratus, fixtures and appurtenances uuw or hereafter in or sltschei! to said buildings rK impro~milients insure+l against l+sv or damage by lire and such other hs:ards as ~lurtgagee may from time to time mluire, all such insurance to be in forms. in cunil,:inies au,l in sums (nut leas than sufficient to avoid anv claim on the part o[ the iTisurers [or co-iTsurance) satisfactory to \lurtgagcr; that all iTSUrauce p ~li+•ics shall I,e held. by and shall I,e fur the benefit ut and first payxLle in cast of loss to \turtgagee, and that at least liftccn days I,cfure tl?e expiration of each such policyy s new and sulGcient paGcy to take the pplace of the one a„ expiring shall I,e Jclivererl to 5lortgagee. ?rtgagur hereby assigns to `fortgagoe all moneys reiroverable wider cacti such {{rr,licy, and agrees that in the event of a loss the amount cullectcsl under any policy of irisurauce on said pn,perly may, at the option of the \lortgagce, be applied by ~lortgap,ee up+,n any indebteil- ncas and/or obGgatiun secured het~by and in such order as ~IortttaRce mayy determine• ur said amount or any pp,rtion there ,f may, at tta; option of \lurtgatCee. either he used in replacing, repairing of restoring ttie imr?rovements partially or totally destroyed to a condition satisfactory to ~lortgaRee, or be relea~rl to ~Iurtgriq„r, in either ur which events the ~lurtgsgee shall not be obliKatal to see to the pn.II,er application thereof; nw shall the amount so rcMased or used by deemai a payment on soy indebtedness secured hereb}•. It is furtF,er agreed that upon fureclnsure sale the title to all insurance held by or for ~IT,rtgaRee shall pass to ttie turecluaure purchaser, and \lurtgsgee u empowered in the name ut \lurtgagur to execute any instrument which may be necessary to vent the title to such uuurauce u? such foreclosure purchaser. 6. If required by Mortgagee, Mortgagor shall also make monthly deposits with Mortgagee, in anon-interest bearing account, together with and in addition to interest and principal installments, rd an amount equal to the taxes, assessments and governmental ch:uttes which may I,e ?evied or asscssrrl against the premises, and insurance premiums next due, less amount already deposited therefor, divided by the number of mnntt?s G, elapse prior to the date when such taxes, sssessmenta, governmental charges and insurance premiums wrll become due and p.'ivable. The amount of such taxe3, assessmeMS, govemmental cluirges acid insurance premiums, when unknown, may I,e cstimate+l by \lortgagee. Such dep,sits shall be used by Mortgagee u, pay such taxes, assessments. governmental chsrttes and insurance premiums when due Any insufficiency of such account to pay such charges when due shall be paid by ~lurtg;sgn?r to ~lurtgsg;ce on demand. I[ there is any default by Mortgagtor under any provisions of this mortgage and 5ortgagee declares all sums secured hereby to t,e due and payable. Mortgagee may then apply any fun?ls in slid account against ltie indebtedness secured hereby •in such manner as 1L•,rtgagce may elect. 'fhe enfor.••eability of the covenants relating to taxes. asscssT»cuts, governmental chargtes and msuraucc rnverage hen•in otherwise pro~tided shall not I,e affected except insofar as those obligatiuru have keen met by n,mpli:ince wtith this l,arxgraph. \lortgagSec may from time to time st its option waive, and after any such waiver, rci:utste, anv or all pr.,visions here+,f re~tuinng such dep,eits by notice to Mortgagor in n•riting. 11'hile any such waiver is in effect Mortgagor shall pay taxes, assessments, governmental charges and insurance premiums as herein elsewhere provided. - 7. To pay all charges or debts and interest thereon which constitute charges or liens of equal rank with or have any preference or priority over the lien of this mortgage; all costs, tees and experisrw, including cwt of evidence of title, court acts, ner.+onable attorney's tees (nut exceeding amount permitted by Isw) incurred by ~i:,rlilagce in enforcing the pmvisiuus of this mortgage, or in defending or intervening in any arrtion affectinK or purporting to affect any o[ the property covered by thu mortgage, or the priority or validity of this mortgage, whether brought by or against Mortgagor or Dlwtgagee. 8. To promptly pay all taxes and assessments assessed or levied under and by virtue of any state, federal or municipal law or regu- Iation hereafter pasaexi against ~lortgsgce upon this mrxtgage or the debt hereby secured, or upon it9 interest under this mortgage, j provided however, that such pay ment is not unlawful. In the event of ttie passage of anv such law or regulation prox~ding for any tax, assessment w charge which 1',ruld not lawfully t,e paid by 1ltortgagor, the entire mdebte,Iness secured by this mortgage shall thereupon become immediately due and payable at the option of ~lurtgagee. `i ` 9. To reply immediately, wtithout demand, all sums of money advanced w expended by Mortgagee pursuant W this mortgage, ` with interest thereon from the date of advancement until repaid at the rate of/0~~ per cent ~ per annum, all of which sums shall E be secured hereby and shall be payable [orthwith. ~ fifteen ~ l'15~) 10. Should Mortgagor tail or relax to make any payment or do any act which Mortgagor is obligated hereunder to make or do, E at the limo and in the manner herein provided, then \iortgagee may, without necessity of notice or demand upon Mortgagor, and without releasing Mortgagor from any obligation hereunder: (a) make or do the same in such mariner and to such extent as Mortgagce may deem advisable and advance such sums of money for that purpox as by ~i xtgagce may be deemed n~c~ary• (b) pay, purchax, contest or compromise anv claim, debt, Gen, charge w incumbrana which adversely affect the premixa covered by this mortgage or the ben or validity of this mortgage. 11. Any breach or default by ~iurtgagor under the provisions of any Assignment of Lease, w Leases, of the premises given as addi- tional secunty for the payment of the indebtedness secured hereby, or any failure of liortgagur to fully protect, insure, preserve and caux ' a,ntinued performance and fulfillment of the terms, rnnvenants or p~+ovisivrui m said lease(s) regwred to t,e performed or fulfilled by the I.agsce, shall constitute a default hereunder and at the option of Mortgagee all unpaid principal and accrued interest on the note secured by this mortgage shall, notwithstanding anything in the note w in thin mortgage to the contrary. become immediately due and payable. 12. If default be made in the payment of any installment of principal or interest o[ said note or any part thereof when due, or in payment, when due, of any other sum secured hereby, or in performance of any of Mortgagor's obligations, covemnta or agrcements here- under, all of the indebtedness secured hereby shall become and be immediately due and pagable at the option of Mortgagee, without notice or demand which are hereby expressly waived. in which event Mortgagee mayy avail itself of all rigghts and remalieo, at law or in equity, and this mortgage may t,e foreclosed with all rights and remedies afforded by the lava of I•lorids snd Mortgagor shall pay all costs. charges and expenses thereof, including a ressonsl,k sttomey's fee. 13. In the event Mortgagor shall, without Mortgagce'a written conxrit, sell, convey or alienate the mortgaged premises, Ar any part thereof, or any interest therein, o jt the title thereto shall become vested in any'ott?er party than Mortgagor in any manner what- " svever, the note snd obligations secura~ by this mortgage, irrespective of the maturity dates expressed therein, at the option of Mortgagee, and without demand or notice, shall immediately become due snd payable. 14. In the event any party Gable for the payment of the indebtedness secured hereby, or any part thereof, flies a voluntary petition in bankruptcy, makes an assignment for the benefit of and creditor, or is declared bankrupt or insolvent, or if a creditor's or debtor's petition aRecting said property, filed pursuant to the provwona of the Bankruptcy Act, as amended, is approved, or if the premises, or any part thereof are placed under the control or in the custody of any court, or i1 ~tortgagce shall be made a party to or shall intervene in any action or proeceding affecting the premises or the title thereto. or the interest of 1ltortgagee under this mortgage, then, in either or any of said events, \flortgagec may, at its option, have the same rights snd remedies e, it default were made in the payment of the note secured hereby. ur any installment of principal or interest thereon, and shall have the further right, at its option, to ap{,car in and defend and protect its right and interest under any such action or proceeding, and ~tortgsgor agrees to 1,sy, upon rlemaTpl, all assts and expensfw, including rcasunsble attorney s fees, which may he advanced or incurred by Mortgagee, and all such amounts shall he a lien on z the said premises snd secured by this mortgage. - 15. In the event the premixs, or any part thereof, are taken under the power of eminent domain, the entire swan(, tx?th leasehold and reversion, but excepting that iw business losses to tenants or lessees, shall be paid to Murt ages, and Mortgagee is hereby empowered in the name of !lfortgsgor to receive and give acqquittance for anv awanl or judgment renderal incident thereto, whether joint w several. . 1ortgagee may apply all such sums ur any part thereof so received, after the l,ayment of all of its expenses, including costa and attorney e tees, on the indebtedness secured hereby in such manner as it elects. or, at its option, the entire amount w any part thereof so received may be relessesl. T r , 16. In the event Mortgagor hereafter executes any lease. or leases, of all or any portion of the mrxttCage+tpremises, Mortgagor, upon demand by Mortgagee, will execute and deliver to Mortgagee assigr,menta of such kale or leases as additional collateral security for the payment of the indebtedness secured by this mortgage. 800 Pd9l~~ - .