HomeMy WebLinkAbout2699 9. That ii the priecipal or tnterdt on the note hetein deecribed or ~ny part of the indebtedne~a recnrad hereby
or interest thereon be not pa~d when due, or ii Mortgap~or ahatl fail ta pay any taxas, ~aaeasmenta, eh~r~es, os impori-
tiona as the ~tame bseo~e due snd payxble, or if d~e2ault De msde in the full snd prompt periarn~?nce ot any ao~~niunt
ora~ree meat beredn oontained, or ii sny pmceeclings be in~tituted to abate any nuieance on the l[ort~[ed Premises
or if wny ptoceodin~s be instituted which miQht reault to the detriment oi the use and enjoyment o! the pra~irea. or
ii ~[art~aros i~ adjudicated a bRnkrupt or insolveat~ or if soy 1~?w shall be enscted or decibion rendeied b~+ court
of Isa! resort im~posIng any tru~ or weasment not naw in eiiect upon this mort~Re. or the nota reru~ bereay, or
an~r intera~t oi liost~a~ee in tbe IilortssQat' Premiees, or rendering iroperative the undertakinss of ,[o~~~o r L9 pay
all taycea ariatn` as a nsult of thie tnnsaction other than taxea on the interest incwme hereirom. or wh3ch rasults
in the deduction irom value ot land, for tax purpoaes, oi the amount of any lien hereon, or alterin~ the laws for the
twxin~ of mortg or debte eecured thersby, or ~i the Mortqa~or, without first obLaining the written coneent of the
Mortsr~ee~ sh~?11 ~grant, b~rgsin, aeA or convey the Mortga~ed Premises or any put thereof, including timber, t~en on
the happenin~ of any one or more of thetie eventa, this conveyance shall become xbsolute •nd the whole indebLodnesa
aecured henby ~ball itamediately become d~e ~nd payable st the optioa of the Mort~Agee an~! thia mort~;ge may
thertnpon be foreclaeed tor the whale of said money, interest aad coau+, or Mnrtg~gee may foreclase onlq ~s to ewns
past due withouE injury W thia morteage or the diaplscement or impairment o! the remrinder of the litn thereof, snd
~L such ioreclosun sale the property ahatl be eold aubject Lo ell remaining items of indebtedness and the ~[ort~`ee
may again forecloae in the aame manner aa oit,en aa there be any sum paet due.
10, If at any Lime ~fter defsult by Mort,eagor : receivership may be necessary in the opinion of Mor~agce
to protect the lien hereof, or ~t the time of or dter the institution oi au~L to collect the indebtedne~s hereby ~ecnred,
or to fore¢la~e this mort;Ke. Mort~a(;se ehsll, ae an edmitted equity and aa s matter of stricL ri~6t and r~ard-
lesa af the valne of the property, or the ealvency or inaolvenry of Moztgagor or any party bound ior the paymc~nt
of thc indebtedneaa have the n~ht to the appointment, on es parte application and without notice to anyone. by nny
proper court ha~in~ juriadiction, of a receiver, which re~eiver shall hRVe sll of the broad and eflective powerr
and functiona in any wiae ~ntrusted by the caurt to a receiver, to take charge oi, manage. preserve~ msintain, can
for end proteet Lhe Mort~ged Premiees and to collect rents, issues, proceeds, produce, profit, income and revenuas oi
the Mortg~ged Premises imm whatsoever gource derived; to make all necess$ry or neediul repsirs and to pronide for
the Mortgaged Premises u set torth in paragrapha b and 6 Above, and to market the producte thereo~ and receive
and oollect the proceeds thereof snd auch receiverahip e2u?11, at the option of Mortga~ee, conLinue until the tnll psy-
ment ot all aums hereby secured, or until title to the Mortgaged Premisee ahall have p~ssed on sale nnder s fon-
cloanre oi this mortgaQe.
11. Should Mortgagor and Mortgagee hereafter enter into any agreement modifying or chatiging the terms ai
this mo~ or the note eecured hereby in anv patticular, the rights vf the partiea to such a~reement shall be superior
to the t~ig te of the holder oi s»y intervening lien or encumbranca,
12. Without alfectine ~he liability oi any person (other than any persoa released pursuant hereto) for payment o1
any indebtednesa secuted h+~rebq, rnd without affecting tha lien hereof upon any property not relesaed pursnant bereta,
Mortgsgee may at ar.y time and from time to time, without noti~e:
(a) Release any person liable far payment of any indebtedness aecured hereby.
R.enew the indebtednesa, or extend the time, or agree to aiter the terme, of psyment oi any ai the it~debt-
edneaa.
(c) Accept additional eecurity of ~ny kind.
(d) Releaa2 ~ny property aecuring the indebtxdneas.
(e) Coneent to the making a! any ma~ or p1Rt of the Mort~aged ~'remiaea, or the creation ot say ear~m~ts
thereon or any covenunta restrictin~ u~e or ocaupancy thereof.
13. If the indebtednese recured heret+y is now or hereafter further aecured by chatt~l mort~a~es, pied~, con-
tracte of (~uRranty, saaignmenta of leasee, or other aecuritiea, Mortgagee may at ite option ezhsust anq one or more
of asid eecnrities snd the secarity hereunder, either concurrently or independently, and in such order as 1t may
deterffiine.
14. No deLy by MorCgag~ee in exerciaing 4ny riRht or remedy hereunder, or otherwise aitozded by law, ehall
upersLe as a wxiver thereof oa preclude the exerciae thereaf during the continuanc~ of any default hereunder.
16. That the Mortg~?gor ehell permit the Mortgagee or ite repmaentatives to examine and inapect the pnmires
st rny reawnable Limea.
Thia mortgage ahall inure to and bind the heira, legatees, devisees, admir.istratnrs, executors, succeeaare tnd
aaaigna oi the psrt~ea hereto. Wherever used herein, the singular number shall in~lude the plural, the plnral the
eingulrr, and the use of any gender ahall be applicable to ail gendera.
Mortgsgee shall be subrogated to the claims and liens of ali parties whose claims or liena are dischar~ed or
paid with the proceeds of the loan securec! hereby.
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IN i~ITNESS WHER,lSOF, ihis mortgagE has been duly executed by the Mortg~~or. : G~'~ a~'•. -
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