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Mortgagor further covenants and agrees as follows:
<br />I. To keep all buildings, fixtures and improvements on said premises, now or hereafter erected thereon, and all equipment attached
<br />to or used in connection with the fixtures on said premises herein mortgaged insured against loss or damage by fire, windstorm and extended
<br />coverage in such sums and with such insurers as may be approved by Mortgagee as a further security for said indebtedness, which insurance
<br />policy or policies shall carry a mortgage clause with loss payable to Mortgagee in form satisfactory to Mortgagee to be delivered to possession
<br />of Mortgagee to be held continuously through period of the existence of said indebtedness or any portion thereof.
<br />2. To exercise due diligence in the operation, management and occupation of said real estate and the improvements thereon and
<br />not to remove or suffer to be removed any fixtures and/or appliance, now or hereafter placed on said premises; and to keep said real estate
<br />and improvements thereon in their present condition and repair, normal and ordinary depreciation excepted; Mortgagor shall not do or
<br />suffer to be done any acts which will impair the security of this mortgage nor any illegal or immoral acts on said premises; and Mortgagee
<br />shall have the right to inspect said premises at all reasonable times_
<br />3. The holder of this obligation may renew the same or extend the time of payment of the indebtedness or any part thereof or reduce
<br />the payments thereon; and any such renewal, extension or reduction shall not release any maker, endorser, or guarantor from any liability
<br />on said obligation.
<br />4. No sale of the premises hereby mortgaged or extension of time for the payment of the debt hereby secured shall operate to release,
<br />discharge or modify in any manner the effect of the original liability of the Mortgagor; and any extension of time on this mortgage by
<br />Mortgagee or his assigns, without the consent of the holder of any junior lien or encumbrance, shall not operate to cause a loss of the priority
<br />of this mortgage over such junior lien. Mortgagee shall be subrogated to any lien or claim paid by moneys advanced and hereby secured.
<br />5. In case any part of the premises is appropriated under the power of eminent domain, the entire amount paid for said portion
<br />of the premises so appropriated shall be paid to this Mortgagee.
<br />6. It is agreed that time is the essence of this agreement and that, in case of default in the payment of any installment when the
<br />same shall become due and payable, the holder of the note and mortgage may, at his option, declare all of the debt due and payable, and
<br />any failure to exercise said option shall not constitute a waiver of right to exercise the same at a later date. In the event any proceedings
<br />shall be instituted on any junior lien or encumbrance against said real estate, then the Mortgagee herein may immediately declare this
<br />mortgage due and payable and institute such proceedings as may be necessary to protect his interest. The lien of this mortgage shall include
<br />all heating, plumbing and lighting or other fixtures now or hereafter attached to or used in connection with said premises.
<br />7. In case of delinquency or default in any payment required in this mortgage and the institution of foreclosure proceedings
<br />thereunder, Mortgagee is expressly authorized to cause a continuation of the abstract of title at the expense of Mortgagor to show the con-
<br />dition of the title at the date of said continuation and which sums necessarily spent for continuation of the abstract of title to the said real
<br />estate, together with interest thereon at the rate of eight per cent per annum, shall become part of the debt secured by this mortgage and
<br />collectable as such; and in case of foreclosure and purchase of said real estate pursuant to said foreclosure by the holder thereof, the abstract
<br />of title and any continuation thereof shall be the absolute property of the Mortgagee.
<br />8. In the event of such foreclosure, the Mortgagee, or his assigns, may apply for the appointment of a receiver, which receiver
<br />is hereby authorized to take possession of the said real estate, collect the rents, income or profit, in money or in kind, and hold the proceeds
<br />subject to the order of the court for the benefit of the Mortgagee pending foreclosure proceedings. Said receiver may be appointed irrespective
<br />of the value of the mortgaged property or its adequacy to secure or discharge the indebtedness due or to become due.
<br />9. All terms of this mortgage shall be binding on each and all successors in ownership of said real estate, as well as upon all heirs,
<br />executors, administrators of Mortgagor or successors in ownership.
<br />10. Clauses numbered eleven (11) as set forth in Mortgage Addendum and attached
<br />are hereby incorporated in and made a part of this mortgage. hereto
<br />State of Indiana, St. Joseph County, ss:
<br />Before me, the undersigned, a Notary Public in and for said County
<br />and State, personally appeared:
<br />Town Tower Motel Corporation by
<br />Anthony Gurvis, President
<br />and acknowledged the execution of the foregoing mortgage.
<br />In witness whereof, I have hereunto subscribed my name and affffixrd
<br />Illy Official seat, this —A---day offWU%_P'
<br />J� qD __,V i
<br />resi�iiz 'n S ,]'cos ph County,
<br />l )• �.
<br />Rlj.�•i,riniiti.ti+nrt expires_LV—�==5
<br />Dated this�Day of 14 �3
<br />Anthony Gurvis, President of
<br />Town Tower Motel Corporation Seal
<br />/,-," seal
<br />AfUT140/U Y rUR Lill � PVe:S,
<br />Seal
<br />Seal
<br />Sea!
<br />Seal
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<br />This instrument was prepared by C—ar—O-Iyn,_ M.UeiAphsg er,.Assistant City —Attorne, South
<br />hfen'drn?ir. Jo.{pph Coanh• Indiana Bar Association Bend, Ind.ana_
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