In every mortgage made
under the provisions of this Act there shall be implied covenants with the
mortgagee and his transferees by the mortgagor binding the latter and his
heirs executors administrators and transferees that he or they will pay the
principal money therein mentioned on the day therein appointed and will so
long as the principal money or any part thereof shall remain unpaid pay
interest thereon or on so much thereof as shall for the time being remain
unpaid at the rate and on the days and in manner therein specified; also that
he or they will repair and keep in repair all buildings or other improvements
which shall have been or shall be erected or made upon the mortgaged land; and
that the mortgagee and his transferees may at all reasonable time until such
mortgage be redeemed enter into and upon such land with or without surveyors
or others to view and inspect the state of repair of such buildings or
improvements.