TO INSURE THE SUBJECT PROPERTY AND COLLATERAL AGAINST SUCH RISKS AS
MORTGAGEE MAY REASONABLY REQUIRE AND, AT MORTGAGEE'S REQUEST, TO PROVIDE
EVIDENCE OF SUCH INSURANCE TO MORTGAGEE, AND TO COMPLY WITH THE REQUIREMENTS OF
ANY INSURANCE COMPANIES PROVIDING SUCH INSURANCE; (B) TO KEEP THE SUBJECT
PROPERTY AND COLLATERAL IN GOOD CONDITION AND REPAIR; (C) NOT TO REMOVE OR
DEMOLISH THE SUBJECT PROPERTY OR COLLATERAL OR ANY PART THEREOF, (D) NOT TO
ALTER, RESTORE OR ADD TO THE SUBJECT PROPERTY OR COLLATERAL, EXCEPT FOR ANY
ALTERATION, RESTORATION OR ADDITION (I) MADE IN THE ORDINARY COURSE OF BUSINESS,
(II) PERMITTED TO BE MADE BY THE TENANTS PURSUANT TO THE TERMS OF THE LEASES
WITHOUT THE CONSENT OF MORTGAGOR OR REQUIRED TO BE MADE BY MORTGAGOR PURSUANT TO
THE TERMS OF THE LEASES OR (III) WHICH DOES NOT REDUCE THE FAIR MARKET VALUE OF
THE SUBJECT PROPERTY BELOW ITS VALUE IMMEDIATELY BEFORE SUCH ALTERATION,
RESTORATION OR ADDITION; (E) NOT TO INITIATE OR ACQUIESCE IN ANY CHANGE IN ANY
ZONING OR OTHER LAND CLASSIFICATION WHICH AFFECTS THE SUBJECT PROPERTY WITHOUT
MORTGAGEE'S PRIOR WRITTEN CONSENT OR AS PROVIDED IN THE LOAN AGREEMENT; (F) TO
COMPLETE OR RESTORE PROMPTLY AND IN GOOD AND WORKMANLIKE MANNER THE SUBJECT
PROPERTY AND COLLATERAL, OR ANY PART THEREOF WHICH MAY BE DAMAGED OR DESTROYED,
WITHOUT REGARD TO WHETHER MORTGAGEE ELECTS TO REQUIRE THAT INSURANCE PROCEEDS BE
13
USED TO REDUCE THE SECURED OBLIGATIONS AS PROVIDED IN THAT CERTAIN SECTION
ENTITLED DAMAGES; INSURANCE AND CONDEMNATION PROCEEDS; (G) TO COMPLY IN ALL
MATERIAL RESPECTS WITH ALL LAWS, ORDINANCES, REGULATIONS AND STANDARDS, AND ALL
COVENANTS, CONDITIONS, RESTRICTIONS AND EQUITABLE SERVITUDES, WHETHER PUBLIC OR
PRIVATE, OF EVERY KIND AND CHARACTER WHICH AFFECT THE SUBJECT PROPERTY OR
COLLATERAL AND PERTAIN TO ACTS COMMITTED OR CONDITIONS EXISTING THEREON,
INCLUDING, WITHOUT LIMITATION, ANY WORK, ALTERATION, IMPROVEMENT OR DEMOLITION
MANDATED BY SUCH LAWS, COVENANTS OR REQUIREMENTS; (F) NOT TO COMMIT OR PERMIT
WASTE OF THE SUBJECT PROPERTY OR COLLATERAL; AND (G) TO DO ALL OTHER ACTS WHICH
FROM THE CHARACTER OR USE OF THE SUBJECT PROPERTY OR COLLATERAL MAY BE
REASONABLY NECESSARY TO MAINTAIN AND PRESERVE ITS VALUE.
5.8
DEFENSE AND NOTICE OF LOSSES, CLAIMS AND ACTIONS.
AT
MORTGAGOR'S SOLE EXPENSE, MORTGAGOR SHALL PROTECT, PRESERVE AND DEFEND THE
SUBJECT PROPERTY AND COLLATERAL AND TITLE TO AND RIGHT OF POSSESSION OF THE
SUBJECT PROPERTY AND COLLATERAL, THE SECURITY HEREOF AND THE RIGHTS AND POWERS
OF MORTGAGEE HEREUNDER AGAINST ALL ADVERSE CLAIMS. MORTGAGOR SHALL GIVE
MORTGAGEE PROMPT NOTICE IN WRITING OF THE ASSERTION OF ANY CLAIM, OF THE FILING
OF ANY ACTION OR PROCEEDING, OF THE OCCURRENCE OF ANY DAMAGE TO THE SUBJECT
PROPERTY OR COLLATERAL AND OF ANY CONDEMNATION OFFER OR ACTION.
5.9
ACTIONS BY MORTGAGEE.
FROM TIME TO TIME AND WITHOUT
AFFECTING THE PERSONAL LIABILITY OF ANY PERSON FOR PAYMENT OF ANY INDEBTEDNESS
OR PERFORMANCE OF ANY OBLIGATIONS SECURED HEREBY, MORTGAGEE, WITHOUT LIABILITY
THEREFOR AND WITHOUT NOTICE, MAY:
(A) RELEASE ALL OR ANY PART OF THE SUBJECT
PROPERTY FROM THIS MORTGAGE; (B) CONSENT TO THE MAKING OF