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Home My WebLink About0921 • - ~ ~ (b) the interest of Mortgagee shall be i~sured regardless of any breach or ~ violation by Nbrbgagor of any warranties, declarations or vonditions contained in such Poli~Yt $nd. (c) if such insuranoe be canoelled ar mat~erially d~anged for any reason whatso- ev~er, such insurer will prc~mQtly rotify lYbrbgagee ar~d such canoellation or change shall not be effectiv~e as tn Irbrt~gagee for thirty (30) days aft~er reaeipt by Mortgagee of such rotioe. Morbgagor shall furnish to Nbrtgagee oopies of each such policy and oopies of each renewal policy, not less than thirty (30) days pcior tA the expiration of the original policy or preoeding rer~ewal policy ( as the case may be Mortgagor shall furnish Mortgagee with reoeipts or otAer evidenoe that pre+niuas on the policies h~aa~e been paid. 6. 0~ rate Existence and Taxes. If Mortgagor or any successor or grantee of Mortgagor s a oorporation or partnership, it shall keep in effect its exist,enoe and rig hts as a oorporation or partnership under the laws of the state of its incorporation or forn?ation and its right tn awn property and transact business in the state in which the Mortgaged Premises is situat~e during tf~e entire time that it has ar~y ownership interest in the I~brbgaged Premises. i~br all periods during which title to the Mbrtgaged Premises or any part thereof shall be held by a aorporation or association subject to oorporate taxes or taxes similar to vorporabe taxes, ar by a partnership required t~o pay lioenses or oth~er fees or taxes, t~brbgagor shall file returns for such taxes or licenses or other fees with the proper authorities, bureaus or departments antl it shall pay, when due and payable and before interest or penalties are ~ue thereon, all taxes or licenses or other fees owing by Mortgagor to the Unit~ed Stat~es, tA svch stat~e of inoorporation o~ ~orn~ation and tA the statre in which the Nbrtgaged Premises is situat~e and ariy political subdivision thereof, and shall produoe t,o Pbrtgagee reoeipts shawing payment of any and all such taxes, licenses or other fees, charges or assessments prior to -the .last dates upon which such taxes, licenses or oth~er fees, char.ges or assessnents are payable without interest or penalty charges, and within ten (10) days of receipt thereof of all settlements, notices of deficiency or , ov~erassess~nent and any oth~er rotives pertainirg tn Nbrtgagor's tax liability, which may be i issued by the United Stat~es, such stat~e of inoorporation ar formation, the state in which the I~brtgaged Presnises is situabe and any p~litical s~division thereof. 7. Care of Preinises. Mortgagor shall naintain, ~reserve , protect and keep in good order and c~oridition, the Nbrtgaged Premises and fram tune t~o time shall make all necessary or appropriat~e repairs, replacements and improvements thereto. In the event that the Mort~gaged Premises or any part thereof shall be damaged or destroy~ed by fire or other ; casualty, Nbrbgagor shall imnediately notify Mortgagee in writing of such damage or des- truction. Upon the direction of Nbrtgagee, hbrtgagor shall, at its sole cost and expense, i crnmenoe and diligently vontinue t~o restore, repair, replaoe, rebuild or alter the l~brbgaged ~ Premises as nearly as possible to its value, oondition and character immediately prior to such elanage ar destruction. ! 8. Fscraw for Taxes and Insuranoe. At the option of Nbrtgagee, Mortgagor shall pay to Mort~gagee, on each date up~n which instalLnents are payable under the Note, such amounts as NbrGgagee fran time t,~ time estimates are r~eoessary tA pay, as the same become due , all taxes, assessnents and charges for the Mortgaged Premises t~ogether with the p~emiwms on all required insuranoe p~licies. Mortgagee shall hold such deposits without interest in its general funds and use such deposits tA pay such taxes, assessments, charges and premiums when the sane shall beoome ~e. 9.. Other Financirx~ or Liens. 9.1 Nbrtyagor shall r~t incur any indebtedness for mrx~ey borrawed tA purchase or enc~nber the Nbrtga~ed Premises or any part thereof other than the indebtedness secured hereby and the liens oonsent~ed t,o in writirg by Mbrtgagee, if any. ~ 9.2 1?~brtgagor shall hav~e no right t~o permit the holder of any subordinate mort- gage or other st~ordinate lien, whether or not oonsented t~o by hbrt,gagee, to terminate any lease without first obtainirg ttrz p~rior written oonsent of Mc~rtgagee, which vonsent may be unreasonably withheld. Tt~e h~lder of any subordinate mortgage or other subordinate lien shall have n~ such ri.ght, whether by foreclosure of its nnrtgage or lien or otherwise, to ~ terminate ar~y lea~e, whether ar r~t permitt~ed to cb s~ by M~rtgagor ar as a matter of law, ~ and any svch attempt t,o terminate any lease shall be ineffective and void without first obtaining the~ prior written consent of Mortgagee, which o~nsent may be unreasonably withheld. 9.3 No lien or encumbranoe of any type, whether v~oluntary or involuntary, shall b~ permitted to be filed or entered against the t~brtgaged Premises without the prior written consent of the Mbrtgagee. If any such lien or enctmbranoe is filed or ent~ered, Nbrt,gagor -4- ~ 1 ! BOOK 393 Pa~E 921 ~