THE
PREMISES, ERECT ANY NEW IMPROVEMENTS OR MAKE ANY MATERIAL ALTERATIONS IN ANY
IMPROVEMENTS WHICH SHALL ALTER THE BASIC STRUCTURE, ADVERSELY AFFECT THE MARKET
VALUE OR CHANGE THE EXISTING ARCHITECTURAL CHARACTER OF THE PREMISES, NOR REMOVE
OR DEMOLISH ANY IMPROVEMENTS WITHOUT SUITABLE REPLACEMENT THEREOF, AND SHALL
COMPLETE WITHIN A REASONABLE TIME ANY BUILDINGS NOW OR AT ANY TIME IN THE
PROCESS OF REMODELING ON THE PREMISES; PROVIDED NOTHING HEREIN SHALL PRECLUDE
BORROWER FROM CONSTRUCTING IMPROVEMENTS NECESSARY OR DESIRABLE TO THE USE OF THE
PREMISES FOR BORROWER'S BUSINESS PURPOSES WHICH ARE NON-STRUCTURAL IN NATURE AND
WHICH DO NOT CONSTITUTE MATERIAL ALTERATIONS TO THE PREMISES OR AFFECT THE
NATURE OF USE, STRUCTURE OR UTILITY OF THE PREMISES OR DECREASE THE MARKET VALUE
OF THE PREMISES.
1.3
COMPLIANCE WITH LAWS. BORROWER SHALL COMPLY
WITH ALL REQUIREMENTS OF LAW, MUNICIPAL ORDINANCES AND REGULATIONS AFFECTING THE
PREMISES, SHALL COMPLY WITH ALL PRIVATE RESTRICTIONS AND COVENANTS AFFECTING THE
PREMISES AND SHALL NOT ACQUIESCE IN OR SEEK ANY REZONING CLASSIFICATION
AFFECTING THE PREMISES.
1.4
PAYMENT OF OPERATING COSTS: PRIOR MORTGAGES
AND LIENS.
BORROWER SHALL PAY ALL OPERATING COSTS AND EXPENSES OF THE PREMISES,
SHALL KEEP THE PREMISES FREE FROM LEVY, ATTACHMENT, MECHANICS', MATERIALMEN'S
AND OTHER LIENS ("LIENS") AND SHALL PAY WHEN DUE ALL INDEBTEDNESS WHICH MAY BE
SECURED BY MORTGAGE, LIEN OR CHARGE ON THE PREMISES.
1.5
PAYMENT OF IMPOSITIONS.
BORROWER SHALL PAY
WHEN DUE (OR WITH RESPECT TO REAL ESTATE TAXES, PRIOR TO BECOMING DELINQUENT)
AND IN ANY EVENT BEFORE ANY PENALTY ATTACHES ALL TAXES, ASSESSMENTS,
GOVERNMENTAL CHARGES, WATER CHARGES, SEWER CHARGES, AND OTHER FEES, TAXES,
CHARGES AND ASSESSMENTS OF EVERY KIND AND NATURE WHATSOEVER ASSESSED OR CHARGED
AGAINST OR CONSTITUTING A LIEN ON THE PREMISES OR ANY INTEREST THEREIN
("IMPOSITIONS") AND WILL UPON DEMAND FURNISH TO THE LENDER PROOF OF THE PAYMENT
OF ANY SUCH IMPOSITIONS.
IN THE EVENT OF A COURT DECREE OR AN ENACTMENT AFTER
THE DATE HEREOF BY ANY LEGISLATIVE AUTHORITY OF ANY LAW IMPOSING UPON A
MORTGAGEE THE PAYMENT OF THE WHOLE OR ANY PART OF THE IMPOSITIONS HEREIN
REQUIRED TO BE PAID BY THE BORROWER, OR CHANGING IN ANY WAY THE LAWS RELATING TO
THE TAXATION OF MORTGAGES OR DEBTS SECURED BY MORTGAGES OR A LENDER'S INTEREST
IN THE PREMISES, SO AS TO IMPOSE SUCH IMPOSITION ON THE LENDER OR ON THE
INTEREST OF THE LENDER IN THE PREMISES, THEN, IN ANY SUCH EVENT, BORROWER SHALL
BEAR AND PAY THE FULL AMOUNT OF SUCH IMPOSITION, PROVIDED THAT IF FOR ANY REASON
PAYMENT BY BORROWER OF ANY SUCH IMPOSITION WOULD BE UNLAWFUL, OR IF THE PAYMENT
THEREOF WOULD CONSTITUTE USURY OR RENDER THE INDEBTEDNESS SECURED HEREBY WHOLLY
OR PARTIALLY USURIOUS, LENDER, AT ITS OPTION, MAY DECLARE THE WHOLE SUM SECURED
BY THIS MORTGAGE WITH INTEREST THEREON TO BE IMMEDIATELY DUE AND PAYABLE,
WITHOUT PREPAYMENT PREMIUM, OR LENDER, AT ITS OPTION, MAY PAY THAT AMOUNT OR
PORTION OF SUCH IMPOSITION AS RENDERS THE INDEBTEDNESS SECURED HEREBY UNLAWFUL
OR USURIOUS, IN WHICH EVENT BORROWER SHALL CONCURRENTLY THEREWITH PAY THE
REMAINING LAWFUL AND NON-USURIOUS