Common use of Statutory Covenants Clause in Contracts

Statutory Covenants. Xxxxxxxx makes and includes in this Mortgage the statutory covenants and other provisions set forth in Minnesota Statutes, Section 507.15, and the Borrower, as mortgagor, covenants with the Lender, as mortgagee, the following statutory covenants: a. To warrant title to the Mortgaged Premises, subject to the Permitted Encumbrances, if any, as set forth on Exhibit B; b. To pay the indebtedness as herein provided; c. To pay all taxes and assessments now due or that may hereafter become liens against the Mortgaged Premises before penalty attaches thereto; d. To keep all buildings insured against fire and against other hazards specified by Lender for an amount not less than the full replacement cost for the protection of Lender, including, but not limited to, lightning, hazards under the usual “extended coverage” endorsement, and all other hazards and risks of direct physical loss occasioned by any cause whatsoever, subject only to any exceptions and exclusions agreed to in writing by Xxxxxx. Such policy of insurance shall be delivered to Lender, name Lender as loss payee under the so-called standard mortgagee clause, contain no pro rata reduction provision, provide for not less than thirty (30) days’ notice to Lender of cancellation of said policy, and shall be written by insurance carriers approved by Lender, which approval shall not be unreasonably withheld; e. To keep the Mortgaged Premises in good repair and commit no waste; and f. That the whole of the indebtedness secured hereby shall become due after default in the payment of any installment of principal or interest, or of any tax, or in the performance of any other covenant contained herein, at the option of Lender.

Statutory Covenants. Xxxxxxxx Mortgagor makes and includes in this Mortgage the statutory covenants and other provisions set forth in Minnesota Statutes, Section Statutes " 507.15, or in any future Minnesota Statute providing for a statutory form of real estate mortgage and the Borrower, as mortgagor, Mortgagor covenants with the Lender, as mortgagee, Mortgagee the following statutory covenants: a. To (a) to warrant the title to the Mortgaged Premises, Property subject only to the Permitted Encumbrances, if any, as set forth on Exhibit B. Mortgagor is lawfully seized of fee title to the Mortgaged Property and has good right to convey the same; b. To (b) to pay the indebtedness Indebtedness as herein providedevidenced by the Notes; c. To (c) to pay (or compel the payment of) all taxes and assessments now due or that may hereafter become liens against the Mortgaged Premises before penalty attaches theretofor non-payment, and to pay in a timely manner all insurance premiums for coverage required pursuant to this Mortgage; d. To (d) to keep all buildings insured against fire and against other hazards specified by Lender for an amount not less than the full replacement cost value but in any case not less than the unpaid amount of the Notes secured by this Mortgage and all prior, if any, mortgages and contract for deed balances and against other hazards for the amounts specified by Mortgagee for the protection of Lenderthe Mortgagee, including, but not limited to, said other hazards being lightning, hazards under the usual “extended coverage” coverage endorsement, and all other hazards and risks of direct physical loss occasioned by any cause whatsoever, subject only to any exceptions the exception and exclusions exclusions, if any, agreed to in writing by XxxxxxMortgagee. Such policy of insurance All such policies shall be delivered to Lender, name Lender Mortgagee as loss payee Loss Payee under the so-called standard mortgagee clauseStandard Mortgage Clause, contain no pro rata reduction provision, provisions and provide for not less than thirty (30) days’ days notice to Lender Mortgagee of cancellation or alteration of said policy, ; (e) that the Mortgaged Property and any improvements thereon shall be written by insurance carriers approved by Lender, which approval shall not be unreasonably withheld; e. To keep the Mortgaged Premises kept in good repair and commit no wastewaste shall be committed; and f. That (f) that the whole of the indebtedness secured hereby principal sum evidenced by the Notes shall become due after default in the payment of any installment of principal or interest, or of any tax, or in the performance of any other covenant contained hereincovenant, at the option of Lenderthe Mortgagee.

Statutory Covenants. Xxxxxxxx The Mortgagor makes and includes in this Mortgage the statutory covenants Statutory Covenants and other provisions set forth in Minnesota Statutes, Section 507.15, or in any future Minnesota Statute providing for a statutory form of real estate mortgage, and the Borrower, as mortgagor, Mortgagor covenants with the Lender, as mortgagee, Mortgagee the following statutory covenantsStatutory Covenants: a. To (a) to warrant title to the Mortgaged Premises, subject to the Permitted Encumbrances, if any, as set forth on Encumbrances listed in Exhibit BB attached hereto; b. To (b) to pay the indebtedness as herein provided; c. To (c) to pay all taxes and assessments now due or that may hereafter become liens against on the Mortgaged Premises before penalty attaches theretoPremises; d. To (d) to keep all any buildings insured against fire and against other hazards specified by Lender for an amount not less than the full replacement cost and against other hazards for the amounts specified by the Mortgagee for the protection of Lenderthe Mortgagee, including, but not limited to, lightning, hazards under the usual “extended coverage” coverage endorsement, and all other hazards and risks of direct physical loss occasioned by any cause whatsoever, subject only to any the exceptions and exclusions exclusions, if any, agreed to in writing by Xxxxxxthe Mortgagee. Such policy of insurance All such policies shall be delivered to Lender, name Lender the Mortgagee as loss payee under the so-called standard mortgagee mortgage clause, contain no pro rata reduction provision, provisions and provide for not less than thirty (30) days’ notice to Lender the Mortgagee of cancellation of said policy, and shall be written by insurance carriers approved by Lender, which approval shall not be unreasonably withheld;; and e. To keep (e) that the Mortgaged Premises shall be kept in good repair and commit no waste; and f. That the whole of the indebtedness secured hereby waste shall become due after default in the payment of any installment of principal or interest, or of any tax, or in the performance of any other covenant contained herein, at the option of Lenderbe committed.