HomeMy WebLinkAbout1547 A1~15%90 1St~T a 467 259 ~942 B B 5 Inc. 11
ARTICLE ONE
COVENENT$ OF MOATGA~OR
t.Q1 Performance_of Note~ Mort s e stc. Mortgagor ahall
perform~ observe aod co~ply Wit~i al provisio~s hereoP, of the
Note and of every other inntru~ent eecuri~g the Note, and will
promptly pay all sums required to ~e paid by Mortgagor under
the Note and purauan~ to the provi~ions of this Mortgage and of
every other insLrumeat seouring the Note When payment shall
beco~e due, all Without deduction pr Credit for tax~s or other
si~ilar charge~ pa~d by Mortgagor.
1.02 Warranty of Title. MortgaQor eovenants and warrants
that it is seixed of an indefea~ible e~tate i~ fee simple xn
the Land and any other real property hereby mortgaged, has good
~ and absolute title to all existing personal property hereby
~ortgaged or made sub~ect to the security interest hereby
ereaLed and has good right, full power and laWful authority to
convey~ mortgage and encumber the sa~e as provided herein; that
Mortgagee may at ell times peaeeably and quietly enter upon~
hold, occupy and en~oy the ~and and eny other real property
hereby mortgaged and every part thereof; that the Land, real
property and all ex~~ting personsl property hereby mortgaged or
made sub~ect to the aecurity intereat hereby created are ~ree
and clear of all liens; se~urity interests~ eharges snd
encumbrances Whatsoever~ except for the lien for property taxes
not yet due and payable and those permitted encumbrances
deseribed 1n Exhibit "8" attached hereto and made a part
hereof. Mortgagor shall and W111 make auch further assurances
i Lo perfect Hortgagce's fec elmple title to the Land and Lhe
~ real property hereby mortgaged, and the title to the personal
property hereby mortgaged or mede sub~ect Lo the security
~ interest hereby created as ~ay reasonably be require~.
~ Mortgagor fully warranta the title to the Land, rea~ property
and all existing personal property hereby mortgaged or made
sub~ect to the security interest hereby ereated and every part
thereof, and wiil forever defend the same against the claims oP
E all persons Whomsoever except as to the matters set forth on
~ Exhibit "B" .
~ 1.03 Transfer of PropertY• Mortgagor shall not sell,
~ convey, transfer,.lease or Purther encumber any inLerest in or
j any part of the Hortgaged PrOperty~ without the prlor written
~ eonsent of Mortgagee.
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~ 1.04 Fu~the~ Assuranees. At any time and from time to
~ time, upon Mortgagee'a request Mortgagor shall make, execute
e and deliver or cau~e to be made, executed and delivered to
~ Mortgagee end, ahere appropriate~ shall oauge to be reoorded or
filed Land from time to time] in ~ueh offices and pleces as
shall be deemed degirable by Mortgagee any and all aueh further
mortgegea~ inatruments of furthsr aasurance, eertifiCates and
other documenta a~ Mortgagee may oonaider nece9sary or
desirable in order to effectuate, eomplete~ enlacge or perfect,
or to continue and pre~erve the obligations oP Mortgt?gor under
thia Mortgage, ana the lien of thie Hortgege es a first and
~ prior lien upon all of the Mortgaged Property, ahether now
~ oNnsd or hereafter aequ~red by Mortg~gor.
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