HomeMy WebLinkAbout0622 trol practices generally followed on timber producing property in
the same general area, including the adoption of suitable preven-
tion and control measures, the maintenance of roads in such manner
_ as to permit access of mobile fire-fighting equipment to all parts
of the timber lands, the maintenance of fire. lanes, proper disposal
of slash and slabs and full cooperation with state and federal
agencies on matter of fire prevention and control.
That as often as forest, wild fire or other hazard, including
windstorm, damage the timber lands, Mortgagor shall deliver to
Mortgagee within 20 days after the happening of each such occur-
rence, a detailed statement in writing, specifying the number of
acres damaged and an estimate of the nature and extent of the re-
sulting damage; that, if in the opinion of Mortgagee, such measures
or equipment are inadequate, the !Kortgagor will, upon written re-
quest of the Mortgagee, adopt such additional measures and acquire
and maintain such additional fire-fighting equipment as the Mort-
gagee may require.
7. -To pay to Dortgagee upon demand all sums, including costs,
expense-and reasonable agent's and attorney's fees which it may _
expend or become obligated for in proceedings, legal or otherwise,
to establish or sustain the lien hereof or its priority, or in de-
fending against liens, claims, rights, estates or easements of any
person or persons asserting priority hereto, or in payment, settle-
ment, discharge, or release of any asserted liens, claims, rights,
easements or estates on counsel advising Mortgagee that the same
is superior to the lien hereof, or for an abstract or supplemental
abstract, together with interest on all such sums so paid at the .
rate of fifteen per cent (15$) per annum on the date the
same. are paid. Mortgagor also covenants and agrees to pay all
costs, charges and expenses, including reasonable attorney's fees
and commissions and abstract charges or expenses paid or incurred
by Mortgagee in connection with any suit to enforce collection or
to foreclose this Mortgage in the event this Mortgage and the
note or other indebtedness and amounts hereby secured be placed
in the hands of an attorney for collection, and for the payment
of all such amounts this Mortgage shall stand as security and any
such sums or sums so paid shall become a part of the indebtedness
secured hereby.
8. In case Mortgagor shall fail to promptly discharge any
f obligation or covenant as provided herein, Mortgagee shall have
the option, but no obligation, to perform on behalf of Mortgagor.
Any amount which Mortgagee may expend in performing such act or
in connection therewith, .with'interest thereon at the rate of
fifteen per cent (15$) per annum, together with all expenses,
I including reasonable attorney's fees incurred by Mortgagee, shall
be immediately payable by Mortgagor and shall be secured by-this
Mortgage, and Mortgagee shall be subrogated to any rights, equities
or liens so discharged.
9. That if the principal or interest on the note herein de-
scribed or any part of the indebtedness secured hereby or interest
thereon be not paid when due, or if Mortgagor shall fail to pay
any taxes, assessments, charges, or imposit~,ons as the same become
due and payable, or if default be made in the full and prompt per-
formance of any covenant or agreement herein contained, or if any
proceedings be instituted to abate any nuisance-on the Mortgaged
~ Premises or if any proceedings be instituted which might result to
the detriment of the use and enjoyment of the premises, or if Mort-
gagor is adjudicated a bankrupt or insolvent, or if any law shall
be enacted or decision rendered by-any court of last resort impos-
ing any tax or assessment not now in effect upon this Mortgage, or
the note secured hereby, or any interest of Mortgagee in the Mort-
gaged Premises, or rendering inoperative the undertakings of Mort-
gagor to pay all taxes arising as a result of this. transaction
. other than taxes. on the interest income herefrom, or which results
in the deduction from value of land, for tax purposes, of the amount
of any lien hereon, or altering the laws for the taxing of mort-
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