HomeMy WebLinkAbout1568 ~ ~ 1
. ,
rb. coasDw eo~a~b~, v.rrants rwa .sr~....:ottiow.:
8~etiw~ 1. '1'M Coaa L Lw~ibll~ s~ds~d ~ad poMewd a~ tbsprop~st~ burlnabon p~ daetibd aad has
Co a
tood rlibt,lbU power antlad~jr to eoarq trwi~r and aU aoeh yrop~rt~ tA tbi 7~p t~ ~easb and
snbJeet !o th~ eownants a~?d eoaditioa~ l~a Nt !ortly aind t sneh yroy~rt,~ b aow owa~d b7 tb~n C'~~omD~n1 ~
ele~r oi aa,p aad sll lieas aad euenmbranas prior to os in p~ri4 wlth t~ li~a a~ t~ Orisioal 1[ort~ as aan~nded
uid snppl~menbd (e~ceeptinr ot~ saeh as ar~ m~tioeNd ia tM elanN a~ thia 8n t) aad t6at t~ QomPW
will warraAt and ddad t!w tltl~ t~r~to a~ai~ut all elaims aad (~pt t~ rl~tM I.w« ~rL1ni wrd~r
pid Lease) ~rl,ahoe~~r.
Seetkw ~aeh aed aU ot t~ t~rms,pro~Idoos. satrktlon~, eo~snanb aad astwmaib Nt lorth nnd~r Satlons 1. !l .
. S. b. 8 u~d ? ot tM~~Orl~inal ~[ortp~ sr~ ni eorposwted h~s~in D~ r~ferenee to tDs sam~ e~ct~n! as thou~h ~sch ~1 aU oi u[d i
t~rms. pro~isions. trieqon~. oonnanb ~nd asr~sment~ wers Nt forth Dsrsin; and tlN Comya~y das ha~eb~ eo~enan! ~
sad asns weU ar~d tralr to aDids 07. Pu[oren and be ~o~srned and restskt~d b~ eseh and all o[ tb~ mattas pro~ided ior ~
b~ t~e Ori~in~l Yoit~a~. ~
Seetioa i. Witbont limitin~ the pro~Wons oi tLs preadint 8~ctioa bot in ibrtherana tb~r~ot it L mnd~rstood and
' ascesd tbat: ~
~ ~1. Z7se term "nent a[ ddadt" !or tM pnrpaes oi.We Orls[nal Yort~ar. as ~nstutor~ sa~pl~mented and as snP- ~
• plemeuted her~b~l sball mean ~ one or mors oi t~l?s ioriawlns: i
(a) Defanit for a period o! 10 ds~s in ibs ps~ment ot inlerat on a~ Note; ~
(b) Datsnlt ior a perlod ot ~10 in tbs pqmant a~ W installme~t a~ t~ ~ineipal a~ an~ Nob wb~n and a~ :
ths same sball bceome dns and pyab~ whetbar at matn~riq? or s! a dab ~ed !or P:'sDy~enR or b7 aooslerstlon or
otLerwi~e; . • ~
~ (c) Dafanlt or t6e hap o~ aeq ~van! sbaU oanr ~md~r an~ indenlnrs. a~r~meat or otber aimiLr ins4vrnent
nnder whith aq~ avidenos ~ebtednw at t6e OompW ma7 ba bsaed, aad socb ddanlt or e~ent ~hall oonttnw
!or a period a~ time ~ut[iciant to psrmit tbe aooelerstlon oi tbs matosiqr ai aq~ indebtedness a~ tb~ Compaa~ onbtsnd-
. in~ tDsreunder;
. (d) Defanlt in tM dne ob~arra~ce or orm~nos b~ tbs Company oi anT otber oo~ant, sondition oe asees-
~ment reqnired to be ob~er~ed or perloimea~j
tbe Compan7 L7 !As tareos oi ao~Note. tl~a Orlsinal 1[ort~a~s, u snp-
• plemeMsd, or sny t irom the Compau~; to the Pnschaser (~s assi~nes~ oi ranb p~ysbk nnder the Le~se in ra
spe~t of tl~e marlyp i~pert,~ sad snch defanit sball eontlnne lor,a0 dps ait~ar wriltea notios th~reoi to tbs Qomps~
b~ tLe Trostes or_ ~lder of aqp n~e; .
. .(e) Detsnlt in tbe dns_obaervanee or perfornunc~c b~ tbs Lessee ~ at~ .~eond~tion or n = t reqnired Lo
be obser~ed or perlo~ded b~ tbe I.ewes~~der ths ternds ai the I.eass and aocb d nlt ~iull oon ns or spsr~od oi
! tlme anffieieat to parmit tds I.eaor thereundar to esereiss any one or mors ot tbs remedies sat torth in tbs Lesse;
~ Any repreasnt~tion or warrant~ made br the Coinpsn~ in wsitter herein, in an7 sssiEnme~t of re~n bolden
Note Agreement or in aoy state~a~t or eartiAcate t+n~aished b~ the Compan~ to tbs 1~ostes or tbs holder or
oi an~ Note pnranant to any terp~ oi the Orlgtnsl Mostgage~. as snPPleme~ted, or in oonnectloa with the paxbase oi ~e .
Note proves nntrue in a~ msterLl respect as oi ~s dsts oi.tbe issnaace or malci~ t6ereaa and s6a11 nut be made good
within SO ds,ys dter satiee tbereof to t~Le Compau~ by the' ~vatee or t6e bolder d sq~ uote;
Tbe Company becomes insolvenL or banlQUpt or a~dmib in wrltin~ ib inab3lit~ to pa~ ib dabb as tbey matnre,
or mskes an asaignmeat for the bet~t oi craditon or appUes or ~b to the sppoiatmeat o! a trostes or reoeiver
tor tbe Company or ior ths ma3or part o! ib proparty;
(h) A trostes or reoeiver L sppointed ior the Compaq~ or for the ma,~or part oi ib p~+opert~ and L not di~cLsrged
wlthin 80 days siter snch appointmeal; -
unde an~ b~alcr~pt~~
L~w~ori~eim
4r h~r~for
he
~reliei of de6tors.~iastita~onr~
~a~ainst tbs~+?nd. ii in- !
atitated against tLs -Company. are ounse~ated to or srs not dt~miaed within a0 da~s aiter ~oeh inditntion. ~
i
u~Y~en up saeh e~ent o~ detanlt bas bapps~d and is oontinnin~. ths 15~vstes shall ha~rs tha rlthb.~op tions
and reinedies of a aecured party aad ths Company aball bave the datles o2 s dsbto~ w~der the UnKorm Commereial Cods
( oi whetber soeL Code or s Isw rimilsr therato bas besa eaaeted in tbs j~ui~dietion whers ia t~
b or rm~edies are ssserted), and without limit~' the fo tbs Trnstee map e~reise an one or a4o:+e or
and in any order. oi the rsmediea hereindter sst forth. it bE~rcPrestl7 andezstood that no ~herein eonferred
is tended to bs eulosivs o! u?q other remedy or r~edies: bnt and~rsr~ remed~ thaU bs eamnla e and shari bs in
addition to every other remedy gtvea herein or now or hareatter ~Istia~ at Lw or in eqnit~ or br datnte:
bs ~simmedis~tel~ d
en~iadpa'yi~le~a~n~d ~then
po~n 11 m~eh
~paid~~
to~te~
wit~h a~il
aa~~
r~estN~t
e~reon
abaU be and beoome immedistel~ dne and PnYsble: -
(b) 3nbjeet siwsys to the then eashaB righb. K any, o~ tbs Iaa~es tmder the I.ease~ ffie Trostea
or by ag~eats or attorneys, aball luvs the rlsht (snb~ to eomplisnos wlth s~? applieaWe mandstory 1~~
ments) to take immediats posseadon o! the mortgaaed propesty, or any portion tbereoi, and !or tLstp~rpo~e may
pursue the same wherever it msy bs iomid, and may e~ter aa~r of tbe prennises oi ths ComP~7, wlth or withoat notioe~
demand. process oi Lw or legal prooednne, aad search for, take ~w~esdon of. re~nove. keep and store the aame, or nas
and uperate tLe same until ~old; it b~a~ und~rstood. with~t Umi t~s fos~oiag. that the 1`rnstee may. and u
hereb~ gE~en ths sigbt ud aathorit~ to. kesp and stot+s sdd mort~a~ propert~, osan~ part thersof witbout eat, on
- tbe premises o! the Compsn~; and tbst tbe Trostee aball not tbereb~ bs deemed to hs~s sarreadsred, or to hs~~
failed to tak0. Possessicn a~ sneh mostaa6e~ P~'oP~7: ~
; (c) $ab~eet slwsya to the then eziating r~hts. ii any. of tbe I.a~ee nnder tbe Lea~e, tLe Trnstee msr if st the ~
time snch aetion msy be L~tu1 and alwsys sabject to eomplianos with a~q ma~rdator~ lessl r~e~ts, a~ther wlth
~ ~ ar withont talcing poseesston and either before or dt~er po~esaion, aad withont instita an7 le~st prooeed-
inga whstsoever, and baving ~rst gjvea notioe o! soch esle registered mail to the Compan~ onee at l~at 10 dsys
prior to the dste o! saeh snle, aad any otber notloe whieh msy be~~ by Lw, seU sad diapose oi s#id mortgsRed
' pmperty, or sny pa~rt thereot, at pnblie ~action to the hi~hest bidder. in oue lot ss ~n enttrety or ia sepante lots, snd
i either for eash or on eredit and on sucb tenos as the Trostee msy determine, snd at any plaoe (whether or not it
€ be tbe loeation o! the mortgaged property or any part tbereoi) deaignated in tLe notioe abave refesnd to. An~ snch aale
~ or a~ may be adjonrned irom t~me to time by annom~eement st tbs time aad plaos appointed ior aaeh sale or aales, or
; for an~ such~ ourned ssle or aales, ~vithoat inrther pnbliabed notioe; snd tbe Trastee or the holder or holdera oi
; the Notes, or oi any intereat therein, msy bid snd become the porcha~er st an~ meh asle; .
; (d) The Trnstee may proceed tu pmteet snd eniorce the Osiginsl MostgRge, as wpplemented, and said Notes by snit ~
- or saits or proaedings in eqnit~, at Lw or in bankraptc~. snd whetLer for the specl8c pe~riormsnoe oi any eovenaat or
agreement thereia or herein eontained or in ezeention or aid of sny po~wer herein gra~ed; or !or lor~OSnre berennder
or tor tbe appoiatment oi a recei~er or reteivers for the mortgaged prupert~ or an~ part tLsreoi. or !or tbe recovery of
jndgment tor the indebtedness berein secared~ or tor the enfon~ement ot au~ other proper legal or eqnitable remedy
; ~ avsilable onder applia?ble law;
t ~ (e) 8nbfeet slwsys to the tben acistin rights. if any. oi ths I~es~es ander tLe Le~ue. ths T:nstee may r~eeed
en g
~ to sxerciss in respeet ot tbe Ires~s oi an~ oi the mortgaged property and tbs mort~a6ed Property oovered there and
' tbs daties, obligatlons and lia~lities a2 tl~e I.essee therenndu. sil righb, prlvlle~es and remedies in tbs Lea~s or by
~ spp2ieable Lw permitted or prc~ided to be e~cereised by ths Companr, snd msy ezereise all aach righ4 and nmedles
; in the name a~ the Teostes oe t6s holder or~boldais a~ the Notes or in tb~ n~s oi tLs Com~, !or tbs bse ~nd bena
; St oi the hoWer o~ bolden a~ tLs Notes;
~ =.3. In ease oi an~ sak o! tbe mort~aaed ~+oDert7. ~ ai w~ part thsieoi. Porsasnt to an7 judameat or decres of an~
~p~, or ot6erw~Le in ooansetion wW? tbe eafo~nt of aa~ oi tbs tsrms oi t6e Ori~inal l[ort~a~e, as snppleanented, tbe
E prEac3Pai oi tbe Notes if not prs~iuml~? doe, snd ths interest sccrued tberon. sbaU at onee bsoome and be immediatel~ das
~ and pa~able; aLo in the esse ot aay saeh sale~ tb~e pnrcl~aaer or pnrcluaera. for the pn
pr ae a~ malcia~ sattlement for or
~ paymeat o1 tha pnrebase prke, sbsU be eatltled to tusn in aad nse tba Notes a~:d sn~ claitns ios interest mstared u~d nnpaid
~ thereon, in order that there mnp be et+edited as paW on tbs parehass prke t6~ snm pportionable and applicabla to the NoLes
~ inelndint Psindpal and interesi thereon oat of tAa net pe~ooeeds a? soeh s~le dtesasllowins fos tbe proportion.ot !be total
Punba~s prtee reqnired to be pdd in aetwl css6. Ii at an~ loreelosare prooeedlnt tbs mort~a`ed pr~perty sbaU be sold for a
~ snm less than the totRl amonnt oi iudebtedna~ tor whkb f
odea?~R is tberein tl~ea, t6s judament ereditor shall be entided
to tbe entr~ ot w deflcienc~ deeres tbe Comp~a~ ~ad s~~ tLsp~p~~ os tbs Comp~a,~ !or tbe anwaat oi sneh de-
lleteaep: and tLe Com__pan~ does irre~oaaW~ oen~t to t7~s s~point~a~eat o~ s rxei~er ior tl~s ato propert~? and
the~~p~ro~~ oi ths Company ~nd~al~e~rsnta. ianes and prost~ thereof aiter soeh a~le aad uatll sneh~
de~ieeae~ decres ta
pS~IE~ IL ~1. p
~ s :3fi7
.
.