HomeMy WebLinkAbout1790 ~1~22~"9Ei 13:10 ~INSTER-BOCA
thia Section, the Mortgaqee may, at its sole discretion, either
4eC~arc an F.vent of Default tidreuDder iii nccordance~ w~th
Section 5.1 h~reof or requi~e the Mortyagor to take aCti0i13, or
expend mon~ys on the Mdrtya9or•s behslf, to cot~[eCt ~uCh
violation and to rectify all ndverse consequenceS3 Of SUCh
vi~oletion before the Mortqagee shall Lund ~ny furtheY advanCes
unaer the ionn sccured by this Mortgaqe. In the event the
M~r~gayCG electx to expend moneys to Co=rBCt any ~uch
~iolati.on, such moneys st~all be deemed proceeds of the loan
secured by this Mortgaqe, ahall be so aeCUxed and she12 be
rapaid and bear irttere~t ea pr~vided in fiection 3.2(C) hereof.
Any such ~ction taken by L~e M~rtgagee shdll rtot COiliSt~LUt@ a
waiver of any Cleim th~t l.h~ M~rtyagee hes undec lsw ~pr ~ny
lo3s incurred by the Mortgagea as a result of such violt+tion.
This provision ~hell survive the 8ati~tactiOn or release of the
Mortgage or the repayment of the Secured Indebtedneas.
S~ction a.3 Permi _K for_QperatiQn of the IKortaaaed
4 ~'19.peLty
,i
~ The Mortgagor has all necessary certificatea, licenses,
~ authorizatians, reyistrations, permits and/or approvela
~ necessary tor lt~a use and operation ot the Mortg~qed Prapetty
or any part thereof, incluAing but nok limited ta, where
; appropriate and obtainab2e, a permanent Ceztificate of
~ Occupd~~c:y for those portions of the Improvements which have
been compleked as vf the date hereof and all required
~ environmental p~t?uits, all Ot whiCh as of the date of the
~ ~ig~~ir,y hereof ere ir~ futt force and etrect and not, to the
~ knowltdye of the Mortyagor, ~ubject to any revoc~tion,
~ amendment, relesse, suspension, forfeiture or thg lika, anA the
~ present and/or contemplated use and/or occupancy of th~ Renl
~ Property does not conflict with or violat• any such
~ certificate, ~icense, authorization, registration, permit
~ dnd/or ~p~roval.
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~ Sect ion 4 ~~,ist~Ca ~ri h LaN
~ The Nlor~gagor werrants and ra~resents th8t the Mortgagor
p has cQmplied, and shall hereafter comply, with all valid laws,
rules, ordinances and zegulations o! the F'ederal, state and
local government, and all agencies and subdivi~ions thereof
which laws, rules, ordinances and requ~ations apply or relate
ko the Mortgage8 p~operty, the t3evelopmant, construction and
improvements ezisting or contemplated thereon or as a part
' thereof, ar the improvements now or heteafter locate~ thereon
or a part thereof, includ~ng but not limited to all such laws,
rules, ordinances, and regulations regerdinq land use, zvninq,
buildinq, sub~ivision, environment, OSHA, pollution and sales
practices.
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