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the lien of this Mortgage as a first and prior lien upon all of
the t4ortgaged Property (subject to the Permitted Encumbrances),
whether now owned or hereafter acquired by Mortgagor.
1.05 After Acquired Property. The lien of this Mortgage
will automatically attach, without further act, to a11 after
acquired real or personal property located in or on, appurtenant
to or attached to, or used or intended to be used in connection
with or with the operation of, the Mortgaged Property or any part
thereof.
1.06 Taxes. Mortgagor shall pay, when due and payable, (a)
all taxes, assessments, general or special, and other charges
levied on, or assessed, placed or made against the Mortgaged
Property, this instrLment or the Secured Indebtedness or any
interest of Mortgagee in ~he Mortgaged Property or the
obligations secured herebl; and (b) all premiums on policies of
fire and other hazard insurance covering the Mortgaged Property,
as required herein. Mortgagor shall promptly deliver to
Mortgagee receipts showing payment in full of all of the above
items. If Mortgagor should fail to pay when due any of the
aforementioned amounts Xequired to be paid under this
Section 1.06, then and thereafter, upon notification from
Mortgagee, Mortgagor shall pay to Mortgagee, together with and in ~
addition to the payment of the Secured I:?debtedness, until the
~ Secured Indebtedness is paid in full or until notification from
Mortgagee to the contrary, an amount reasonably sufficient (as
estimated by Martgag~e) to provide Mortgagee with funds to pay ~
said taxes, assessments, insurance premiums, rents and other
charges next due so tha.t Mortgagee will have sufficient funds on
hand to pay same thirty (30) days before the date of which they ~
become past due. In r~o event shall Mortgagee be liable for any ~
interest on any amount paid to it as herein required, and the ~
money so received may be held and commingled with its own funds, ~
pending payment or application thereof as herein provided.
Mortgagor shall furnish to Mortgagee, at least thirty (30) days ~
before the date on whi~h the same will become past due, an ~
official statement of the amount of said taxes, assessments, 1
insurance premiums and rents next due, and Mortgagee shall pay
said charges to the amount of the then unused credit therefor as
and when they become severally due and payable. An official I
receipt therefor shall be conclusive evidence of such payment and '
of the validity of such charges.
Mortgagee may, at its option, pay any of these charges when
payable, either before or after they become past due, without
notice, or make advances therefor in excess of the then amount of
credit for s3id charges. The excess amount advanced shall become
part of the Secured Indebtedness. Mortgagee may apply credits
held by it for the above charges or any part thereoi on account
of the Secured Indebtedness then due and payable, and the amount
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eoox 573 F~a~E 958
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