HomeMy WebLinkAbout0108~'R~' ~~ PAGE~L~
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lllldel'11'I'ltel'~ 111Y1~'1' illy' I11tiU1'illll'i' illere011 IlS pill-Illl'llt O: IOSSt'S Or
a5 return 1>relUllllS Ol' llther-~1'ltie, NidV'tl~;~ i17;t11'(lS ilrid 1'CC(iA'l'I'IeS,
r(•c•o~•eries in general ;l~•eru~;c or othrt•~1-ise, tool ull other souls Clue
at t}le tillle ol', or utter, the llappeninE; of t!u~- e~-cilt of default in
re~pcct oC the ~"essl`•l, oi• in rrsllect- of :ul~• insurance th(~r~on, frola
:ul~• per,ou 11'h:nnsoe~•el•, and to luake, ~;i~-c tlnd execute il, the nittne
of the tihipoll-ner ac(;uittanres, r~•c+(~il-t,, rl•leusl•s or other disellar~;es
for the siuue, Whether under seal or otherll•isc, sod to cndors~ and
accct-t in the Hanle of the ;:hilwll•ner till checl: notes, drafts, ~1-ar-
rilut., a~;reentcnts iuxl ot}u•r instruments iu lcritin}; N-ith respect to
the for(•t;oini;. -
Sec~u~x a. ~~'hene~•er an}- right to enter and take posse~siml of
tlli' ~ l'N~1't a<'C1'IIPS to tlll! ~1(l~tnaRee, it llltl~' 1'l'({lul'l', the ~]Il1kIK`l1Pr -
to drli~•er, anal the tihipul~-ner ~ludl on deultuld, at its olsn cost and
(•~1-ense, deli~•l+r to tlu• \lortgagee th~~ ~•essel as deluundcd. if an~•
le~tll l,t•oc•cediu~;s shall he taken to enforce any right llIld('I• ibis \[ot•t-
};age, th(• 1(ortnagee shall he entitled as a matter of right to the
ullpaintnlent of a nc~•civer of the V"essl•1 tool of the freigl-ts, ]lire,
eurninris, issues, revenues, inconu~ u.ul profits due or to become due
tuui arisiug from the operation thereof. ,
Ssc-rtox ti. The fiLipoll~ner authorizes and c•I~lpo~1•ers the Alort-
gagee or its tll+pointecs or tul~• of thrul to tlllllet>r in the na-ue of the
~hipoll•Iter, lt5 SLICCI'NFOI'ti flnd Il~Flr;-1S, In Illl\' cOllrt Of ally' ('O1111tT~' Ol'
nation of the ~1•orld ~1•here a shit is lx~nding against the ~'e~ticl because
of or on accaant of an~• alleged lien against the ~'cssel frot~.l ~1-llic}l
the ~•(•ssel has not been released and to take such proceedin#;s as to
the;u or tul~• of thclu nla~• ~eeul prolx•r to~l~tu•ds the defense of such
suit and the }nu•chase of discharge of such lien, and all espendihtres
made m• incurred by theul or an~~ of them for the purpose of such
defense or plu-chase or discharge shall he a debt due from the ship-
,
o~1•ner. its successorG and assigns, to the Jlortgagee, and spa x'
secured b~• the lien of this Mortgage. in like manner and extent ~ if
the atuount. and description thereof ~1•ere ~1'ritt4~n herein.
( ~t:crlox 7. The ~hipol~•ner covenants that upon the happening
of an`~ one or mor~• of file events of default, then, upon ~~'ritten demand