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HomeMy WebLinkAbout0810 2. INDEBTEDNESS SECURED The money now owed or hereafter awed by the MORTGAGOR shall specifically include but not be limited to the sums evidenced by - the promissory note between the parties, a copy of which is aCtached, such future or additional advances made by mortgagee, all interest, late charqes, costs of collection, and all reasonable attorney's fees incurred by the MORTGAGEE (whether in trial or appellate proceedings) incident to the enforcement of MORTGAGEE'S rights hereunder. All sums paid by the MORTGAGEE to prevent the impairment of its liens, such as taxes, assessments, insurance premiums, utility charges, and sums paid to superior lien holders, shall also be secured by the lien of this mortgage. 3. EMINENT DOMAIN r The lien of this mortgage shall attach to the total award of damages to the MORTGAGOR or any settlements arising from the taking of the property or any part ~hereof under any power of eminent domain. The proceeds thereof shall first be applied to any attorney's fees or costs incurred by the MORTGAGEE in those proceedings, and the balance to any indebtedness secured hereby shall be allocated by the MORTGAGEE. The MORTGAGOR shall not consent ~o any settlement in the eminent domain proceedings or the threat thereof, without the specific consent of the MORTGAGEE. 4. MORTGAGOR'S OBLIGATION The MORTGAGOR shall be obligated to: ~ ~ (a) Pay all sums required by ~his mortgage, the note ~ secured hereby, and any other indebtedness, when due; ~ (b) Pay all taxes, special assessments, claims of lien, ; utility charges, or other encumbrances, at the time when such ~ liens attach to the property; ~ ~ (c) Maintain hazard insurance (all risks coverage) on any improvements or personalty located on said property in the ~ maximum insurable value thereof and to pay the premiums therefor when due, furnishing to MORTGAGEE a copy of the hazard insurance ~ policy with a Mortgagee loss payable endorsement attached; ~ ~ (d) Furnish receipts or releases evidencing payment of ~ i any of the foregoing upon request by the MORTGAGEE; ~ ~ (e) Permit, commit, or suffer no waste, impairment, or ~ ~ deterioration of said property or any part thereof; ~ € ~ ~ (f) Maintain the property in good repair; ~ ~ ~ (g) Report any loss or damage to the MORTGAGEE which in ~ any way impairs the value of the property; ~ ; ~ (h) Promptly apply for any claims against insurance ~ policies on the property to which the MORTGAGOR would be ~ B entitled, and notify the MORTGAGEE in writing of su~h fact; J ~ ; € ~ ~ (i) Notify the MORTGAGEE of any transfer or change in = awnership of the property; (j) Obtain the signature of the M~RTGAGEE on the , ¢ application for any governmental zoning change of the property, ~ aff.ord the MORTGAGEE an opportunit to be y present at all zoning ~ hearings affecting the property, and obtain the MORTGAGEE'S ~ consent to any zoning change. ~ ~ I ~ I ~ ~ ' ~ 2 ~ ~ ~ ~ aooK s~'4 PA6E 8i0 : - - _ . - - ~ . '+~"~'y,~,,:~ x~'-fimu~"' F ~'°'~~t ~a'~r~~.~'- :~~s~~a,5~ ~?°`~<r .