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I0. And the Martgagor does hereby covenant and agree to faithfully
~ and fully comply and abide by and with each and ever~r term, covenant
and condition of all Mortgages sunerior hereCo if any there be, and
any and all agreements between Mortgagor and Martgagee and never per-
m:t any of the above ~o gc into default. In the event of a default
~ under any of the aforesaid ~o:tgages and/or agreements, the same sball
automatical~.y constitute a default under this Mortgage and thereupon
and immedia~ely the M~oxtgagee may institute forec losure proceed ings or
avail itself of any other remedy permitted by law; and the M~ortgagee
herein is hereby expressly suthorized and permitted ro advancQ a1I
sumis necessary to keep a].1 said superior martgages and agreements in
goo~d standing ~nd a~11 sums so advanced, together with interest thereon
at the rate of 1/27th of one per cent per day vn the unpaid balances,
computed on a day to day basis, shall, at the option of the Mortgagee
herein, automatically~nd eitnultaneously with any such default, immedf-
ately become due, collectible and enforceable. ,
11. Satisfact3,on of this Mortgage shsll not be deemed satisfactior.
of any other mortgage nor as ~elieving Mortgagor of obligation under
~ any other agreement between the Mortgagor and the Mortgagee. This
Mortgag~ is add itional to and nat a substitu~e for any o~her mortgage
ar security. . '
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12. The:~Mortgagor expressly cove~ia~its and agrees that this Mort-
gage shall be in default if any agreernent is made (except with the
~ consent of the Mortgagee) with{rior Mortgag~.s if ar~y~o in any way
~ modify, change, a1t~r o~ extend any of the rer~s or conditions of any
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prior ~nortgage, and no such agree.~nen~ to modify, change, alter or ex-
tend, unless consented to by th is Mortgagee in wsiring shall be o~ any
force and effect. Mortgagor shall, at least twenty (20) days prior to
the date when ~ny superior lien or mortgage may be accelerated or de-
~ clared 3,n defaul~, furnish NLortgagee with written evidence of due pay-
ment and/or compliance. No grace period shall be slxowed or be appli-
cablg to this pravision.
~ 13. It is further covenanted and agreed by the Mortgagor and
; Mortgagee herein that in the event of a suit being instituted to fore-
~ close this MArtgagee, the said I~fartgagee, its successors, legal repre-
; sentatives and assigns, shall be~entitled to apply at any time pend ing
' such foreclosure suit to the Court having ,jurisdiction thereof for the
~ appointment of a Receiver of aIl and s ing~tlar the mortgag~d property,
1 and of aII the ren~s, incomes, profits, issues and revenues thereo£,
~ from~atisoever source derived; with the usual powers and duties of
; Receivers 3.n like cases; and such appointment shall be uiade by such
, Court as a mar~er of strict righr to the Mortgagee, its successors,
' legal representatives and assigns, and without deference to the ade~
quacy or inadequacy of the value of the property hereby morrgaged, or
to the solvency or insalvency of the Martgagar, its successors, 1ega1
represenratives or assigns, and ~hat suCh rents, profits, incomes,
issues azid revenue shall be applied by such Receiver to the payment
af the MQrrgage indebtedness, costs an~d charges, according to the
order of such Court.
~ 14. Assigruuent for the benefit of creditors; filing of a pe~ition
in bankruptcy; or ~djudication of insolvency or bankruptcy; or petition
ar appl~i.cation to any tribunsl for any receiver of or any trusree for
Mortgagor or for ~ny substantial part of its property; or commencement
of any proceeding relating to Martgagor under ~ny reorganization arrange-
ment, readjustmenr of debt, dissolution or liquidation law or stature
of any jurisdicLion, whether now or hereafter in effect; ar the svffer-
ing of any appointment, receiversh ip or trusteesh ip; or consent to any
of the above proeeedings by the Mortgagor may, at Mortgagee's op~ion,
be treate+d as a breach on the part of Mortgagor of the rerms and con-
d it ions hereof . ~
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