HomeMy WebLinkAbout1862 ~A ~ ,
Mortgagee, accrued interest at the rate herein specified
• ~ on all principal amounts from time to time outstanding
hereunder to the date~of receipt of such payment by the
Mortgagee, plus the entire principal balance secured ~
hereby, notwithstanding any lesser interest rate required
- - to be paid by the authorities making the awards.
AND the Mortgagor covenants with the Mortgagee
as follows :
• 1. The Mortgagor will pay the indebtedness as
hereinbefore provided.
2. The Mortgagor will keep the buildings and
improvements-now or hereafter erected on the mortgaged
premises and all personal property covered by this mort--'
gage insured against loss and damage by fire and by such
other hazards as the Mortgagee may require, in amounts,
- _
with insurers and under forms of policies (including
r
~ standard mortgagee clause unless otherwise required
satisfactory to the Mortgagee; will deliver all such
1 ~ -
policies and, at least l5 days prior to their expiration
dates, all renewals thereof to the Mortgagee; and trill
}
~ pay all premiums thereon. The Mortgagor will not permit
t
any condition to exist on said premises which would wholly
~ or partially invalidate the insurance thereon. The Mort--
~ gagee may on behalf of the Mortgagor adjust and compromise
. ;
any claims under such insurance and collect and receive
~ the proceeds thereof and is hereby irrevocably appointed
attorney-in-fact for the Mortgagor for such purposes, and
' may deduct from such proceeds any expense so incurred by
it, and may at its option either apply such proceeds in
reduction of the debt secured hereby, whether then ac?a~.tured
or not, or release such proceeds to the Mortgagor in trhole
or in part upon conditions satisfactory to the Mortgagee. t
t
..4_ -
e~nx 339 ~~~E 1860
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