HomeMy WebLinkAbout1797 i
013
p:i22~90 13:14 Gl1NSTER-BOCA
expense~; (b) to the paymen~ of anY vf the Securad Indebtednes~
other than indebtednQaa with r~~pect to the Nots ~t th0 tilpe
outatandiny; (C) to the payment c~! the princip8l Ot the NOte
and eny intere~t accrued and unpaid thereon, without regart! t0
whcther eny portion or ell o~ such anwunta t~hall be mature4 Ot
unmetured, togethar with intere~t at the detault iAtete!!t t~te
on any overdue prin~ipal end (to the eztent pezmitted by
applicable law) interest; end, in c:aae auch amount sh~ll b9
insuf~~cisn~ tu paY in fuli ail ~uc:h amounta, thon auch amounts
shall bo applied, ~S~t, to th~ payment o! ~tll nmOUntB Of
int~rost accrued on the Note and unpeid, without preferenca Or
priority of dny paymenL uf intereBt over eny other payment Of
interest or o~ any Note o~tlr any other Note, and, gg~~, t0
tho payment of all amou,it~ of principal 8t the time
outstandin~, w~thout preferencC or priority of any inataliment
or amount of principal over any other installment or amount of
principal or of any Note over any other Note, but otherwise in
~ such manner and order as the Mortgaqee shall in its sole
~ discretion c7etermine; (d) to fulfill any of the other covenanta
contained herein as the Mortqaqee may determine; (e) releaae~
; to the Mortgagor for application to the cost of rQStorinq the
; Mortgaged Property; or (f) released to khe Mortgagor.
~
` (a) FQrtolQ~~re• sLCCeRba~ in I tgre~t. In the
` event of a foreClosure of this Mortgage, the purchasQr of the
~ Mortgaged Property shall succeed to all the riqhts of the
~ Mortgagor, including any right to unearned premiums, in and to
f all policies vf insurance easigned a~d delivered to the
~ Mortq~gee.
E
~ Section 3.4 !iL te enc wast~ an $emoval
f
~ The Mortqagor ahall maintairt the Mortqaqed Property in good
~ condition a~nd repair and ~hall not commit or suffer any weate
to the Mort9aged Property. The Mortqagor ahall promptly
~ repair, ~estore, roplace or rebuilA any part o~ the Mortgayed
~ Prvgerty, now or herealter encumbered by thia Mottga9e which
= may be affected by any prviceedinq o~ the character re~erred to
in Section 3.7 herein or which may otherwiae become dameged,
destroye~, lost or unsuitable for use. In the event the
Mortga9ed Proparty or any part thereof, ia damagad or destroyed
by fire or other casualty, the Mortqaqor shall immediately
notify the Mortga4ee, ~n writing, of such clamage or
destruction. The Mortqagor shall not cause or permit enythinq
to be done which would or could increas~ the risk of fire or
other hazard to the Martqaged Property, or any part thereof, or
which would or could result in an increase in any insurance
premiums payable with respect to the Mortqaged Property, or
which would or could result in the cancellation oi any
insurance poli~y carried with respect to the Mortgaqt~
~
12 800KU~5 PAGE~797
- . ~ _~.'~x.c4 ''~,t'<i3'~•K'Y~-.3~ _.z~~So.to' ~c.,'_~4" ^cs ~'~s'J,~ s~. 8.:"..~r.'Y~