HomeMy WebLinkAbout0959 appear and to prosecute in its own or htortyagor's n~~me any action
or proceeding relating to any condemnation or to settle or com-
prise any claim in connection therewith. All such compensation
awards and any other payments or relief and the right thereto are
hereby assigned by Mortgagor to Mortgagee and Mortgagee, after
deducting therefrom all of its expenses including attorney'S
fees, may release money so received without it affecting the
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Mortga~ee shall determine, to the reduction of the sum secured
hereby. Mortgagor agrees to execute such further assignments of
any compensation, awards, damages, claims, rights of action and
proceeds, as Mortgagee may require.
6. Care of Mortgaged Property. Mortgagor shall not remove
or demolish any building or other property forming a part of the
Mortgaged Property without the written consent of Mortgagee.
Mortgagor shall not permit, commit, or suffer any waste, impair-
ment ar deterioration of the Mortgaged• Property or any part
thereof, and shall keep the same and improvements thereon in good
condition and repair. MortQagor shall notify Mortgagee in writ-
inQ within five (5) davs of anv damave, or impairment of the
Mortgaged Property. Mortgagee may, at Mortgagee's discretion,
have the Mortgaged Property inspected at any time and Mortgagor
shall pay all costs incurred by Mortgagee in executing such
inspection.
7. Mortgagee's Riqht to Make Certain Payments. In the
event Mortgagor fails to pay or discharge the taxes, assessments, -
levies, liabilities, obligations and encumbrances, or fails to
keep the Mortgaged Property insured or to deliver the policies, ~
premiums paid, or fails to repair the Mortgaged Property as
herein agreed, Mortgagee may at its option pay or discharge the
taxes, assessments, levies, liabilities, and obligations and
encumbrances on any part thereof, procure and pay for such insur-
ance or make and pay for such repairs. r;ortgagee shall have no
obligation on its part to determine the validity or necessity of
; any payment thereof and any such payment shall not waive or
i affect any option, lien equity or right of Mortgagee under or by
; virtue of this Mortgage. The full amount of each and every such
` payment shall be irnrnediately due and payable and shall bear
interest from the date tfiereof until paid at the highest rate
; allowable by law, and together with such interest, shall be
~ secured by the lien of this Mortgage. Nothing herein contained
~ shall be construed as requiring Mortgagee to advance or expend
~ monies for any of the purposes menti~ned in this paragraph.
~ 8. Payment of Expenses. Mortgagor shall pay all the costs,
~ charges and expenses, including reasonable attorney's fees,
disbursements and cost of abstracts of title, incurred or paid at
~ any time by Mortgagee due to the failure on the part of Mortgagor
~ promptly and.fully to perform, comply with and abide by any
~ stipulation, agreement, condition or covenant of the Note and
~ this Mortgage, or any ether document securing the Note. Such
~ costs, charges, fees and expenses, shall be immediately due and
~ payable, whether or not there be notice, demand, attempt to
collect or suit pending. The full arnount of each and every such
~ payment shall bear interest from the date thereof until paid at
~ the highest rate allowable by law. All such costs, charges and
expenses so incurred or paid, together with such interest, shall
be secure~ by the lien of this N,ortgage and any other instrument
securing the Note.
9. After Acquired Property. The lien of this Mortgage will
autamatically attach, without further act, to all after acquired
property of whatever kind located in or an, or attached to, or ;
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443 ~~Uf 959
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