HomeMy WebLinkAbout0914 SECTI01~ 2.0~. After the bsppening of s~y Svent af
Default and immediately upon the com~nencement of s~y actio~,
suit or other legal proceeding by the l~ortgagee to obtain
~udBnent for the principal of, or interest on, the Aote and
other sums required to be paid by the M~ortgagor purauant to ~r
provislon of thia Mortgage, or of eur~y other nature in sid of
the enf'orcement of the Note or of this Mortgsge, the Mortgagor
will (a) xaive the iasu~ce and service of process a~d enter
ita voluntary-appesrance in such sction, suit or proceeding,
and (b) if required by the M~ortgagee, conseut to the appointment
of s receiver or receivera of the Premises and of all the eaz~-
ings, revenues, rents, issues, profits and income thereof. After
the happe~ing of a~y BveMt of Default aa~d durixag its cor~tiazuaa~~e,
or upou the commencement oP ar~y proeeedinga to ioreclose t111s
M~ortgage or ta e~aforae the s~ecific performarace hereof or 3.xi .
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aid thereof or upoa the commencement of a~y other ~udicia3 r~o- 3
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~ ceedix~..g to er~orce ax~y right of the Mortgagee, the Mprtgagee
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~ shall be en~itled, aa a matter of right, if it ahall so e~~c~, ;
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witho~t the givi~g of notice to ~y other garty an3 withc~ut
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regard to the adequacy or ina~iequacy of ar.y security for the €
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Mortgage 3.r~debtednes~, fc~rthwith either before or after deciar- j
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irig the unpaid pri~cipal of the Note to be due a~r~d ~ayable, to
the sppointment of such a receiver or receivers.
SECTION 2.05. Notwithstanding the appointment o~ at~y ~
receiver, liquidator or trustee of the Mortgagor, c+r of ~y of
its property, or of the Mprtgaged Property or ar~y p+~rt therec~f,
the l~ortgagee shall be entitled to retain posaeasior~ e~d coza- ;
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trol of all pmperty nox or hereafter held under thia Mortgage.
SECTION 2.06. l~o remedy herein conferred upon or
reaerved to the Mortgagee is intended to be eaclusive of ax~yy
other remec~y or remedies, and each and every such remedy ahall
be cumulative, and shall be in addition to every other remec~y
given hereunder or no~ or hereafter existing at laK or in equity
; ~~-~o g ~ 174 9~.