3. HRSR 05-16-2005 - Laserfiche WebLink

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structural character of any building now or hereafter erected on the Land without the prior written consent of Mortgagee, will not do any act or thing that would unduly impair or depreciate the value of the Mortgaged Property, and will not abandon the Mortgaged Property. In the event of the failure of Mortgagor to keep the buildings or other improvements in good repair, Mortgagee may make such repairs at Mortgagor's expense as in Mortgagee's discretion it may deem necessary for the proper preservation thereof, and any sums paid for such repairs shall bear interest from the date of payment at the rate specified in the Note, shall be due and payable on demand, and shall be fully secured by this Mortgage. Mortgagor will not remove from the Land any fixtures or personal property included in the Mortgaged Property unless the same is immediately replaced with like property, subject to the lien and security interest of this Mortgage, of at least equal value and utility. Mortgagor will comply with all present and future laws, ordinances, regulations, and requirements of any governmental body applicable to the Mortgaged Property and to the occupancy and operation thereof, including without limitation, all applicable provisions of Minn. Stat. § 504B.178 with respect to any security deposits received by it, and all covenants required of it by the provisions of Minn. Stat. § 504B.161, subd. 1. 4. MORTGAGOR'S DUTY TO PAY TAXES. Mortgagor shall pay, before a fine or penalty might attach for nonpayment thereof, all taxes, assessments and all other charges whatsoever levied upon or assessed, placed or made against the Mortgaged Property. Mortgagor shall, upon written request by Mortgagee, promptly deliver to Mortgagee any receipts for the payment of such charges; provided, however, that Mortgagor need not pay any such taxes, assessments or other charges so long as Mortgagor shall in good faith contest such taxes, assessments or other charges by appropriate legal proceedings effective to prevent the enforcement of any lien created by such failure to pay, and to prevent the loss of any of the Mortgaged Property. Mortgagor likewise will pay all taxes, assessments, and other charges, levied upon or assessed, placed or made against, or measured by, this Mortgage, or the recordation hereof, or the Indebtedness secured hereby. 5. MORTGAGOR'S DUTY TO PAY UTILITIES. Mortgagor will pay all charges made by utility companies, public or private, for electricity, gas, heat, water, or sewer, furnished to or used in connection with the Mortgaged Property or any part thereof, and upon written request by Mortgagee, will promptly deliver to Mortgagee receipts for the payment of such charges; provided, however, that Mortgagor need not pay any such charges so long as Mortgagor shall in good faith contest such charges by appropriate legal proceedings effective to prevent the enforcement of any lien created by such failure to pay, and to prevent the loss of any of the Mortgaged Property.