HomeMy WebLinkAbout0124 demand full payment, performance or fulfillment or otherwise to proceed,
sueh failure sha~l not be deemed a waiver of the rights of Mortgaqee
b~ make subsequent demands for the im~nediate payiaent of the entire
unpaid anaunt of the Mortgage Obligations, or to take immediate poasession
of the Mortgaged Property or any of sacae, or to foreclose at any time
this Mortgage, or to demand full performance or fulfillment or other-
wise to proceed; and the acceptance by Mortgaqee of any payments sub-
sequent to such default shall not be deemed a waiver of any riighta of
lrbrtgagee. No dely or failure on the part of M~rtgagee in exercising
any right, privilege, remedy or option hereunder ehall operate as a
waiver of such or of any other right, privilege, remedy or option, and
no waiver whatever shall be valid unless in writing, signed by Mortgaqee
and then only to the extent therein set forth. The books and recorda
, of Mortgagee oontaining entriea with respect to the Mortgage Obligations
shall be admissible in evidence in any action or proceeding, shall be
binding upon Mortgagor the purpose of establishing the items ther~in
set forth and shall conatitute prima facie proof thereof . Mortgagee
shall have the riqht to enforce any one or more remedies available to
it successively, alternately or concurrently. Z'his Mortgage cannot be
changed or terminated orally.
7. All of the rights, remedies, options, privileges and
elections given to Mortgagee hereunder ahall enure to the benefit of
Mortgagee, any transferee or holder of this Mortgage, and their respective
successors and assigns; and all the terms, conditions, promises, covenants,
provisions and warranties of this Mortgage shall enure to the benefit
of and shall bind the representatives, successors and assigns of the
respective parties.
8. It is understood and agreed that if Mortgagor be in any
default the Mortgagee may, at its option, proceed either against said
Mortgage, any Notes which it may secure,or against one or more and/or
all securities and/or collateral, and/or ac~inst Mprtgagor, and such
proceeding or proceedings by the Mortgagee, in any such cases, shall
not be deemed an el~ction by the Mortgagee nor preclude lrbrtgagee from
; proceeding or taking advantage of any other remedies which Mortgagee
may have in connecti,~n with any and all other securities and/or collateral.
No remedy conferred upon Mortgagee hereby or by any agreement or instru-
ment referred to herein is intended to be exclusive of any other remedy
and each and every such remedy shall be cumulative and shall be in addi-
tion to every other remedy given thereunder or now or hereafter existing
at law or inequity or by statute or otherwise. Z'his Mortgage is not
intended to be a substitute for any other the Mortgage, security, col-
lateral or obligati,ons nor shall this Mortgage in any way diminish the
effect or dignity of any other obligations of Mortgagor to Mortgagee
or the securities thereof. ~
9. Z'he unenforceability or invalidity of any provisi,~n or '
provisions or any part hereof shall not render any other proviaion or
provisions or part herein contained unenfo=ceable or invalid and in the
event of any such unenforceability or invalidity this MortQage shall
be enforceable in accordance with the intentions of the parties as set r
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forth herein. Insofar as interest is concerned, it is not intended by !
anything herein contained that there shall be a duplication of interest.
~ Interest ahall be chargeable only on the unpaid balance or balances,
f rom time to time, due from Mortgagor to the Mortgagee and is limited
to the maxi.mum proper and permissible by law. Satisfaction of this
Mortgage shall not be deemgd satisfaction of any other Mortgage or
Obligation nor ae relieving Mortgagor of the obligations under any
ot her agreement between it and the Mortgagee.
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~ BooK 139 12~
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