Loading...
HomeMy WebLinkAbout2588 r i I I5 the same, may nse, operate, manage and control the Premises and conduct the bnsiness thereof, either personally or by its ~ superintendents, managers, agents, servants, attorneys or re- ceivers; and npon every such entry, the Mortgagee, at the ex- pense of the biortgaged Property, from time to time, either by pnrchase, repairs or constrnction, may maintain and restpre the biortgaged Yroperty, whereof it shall become possessed as afore- said, may complete the construetion of the lmprovements and in the course of auch completion may make such changes in the contemplated Improvements as it may deem desirable and may insure the same; and likewise, from time to time, at the egpense of the biortgaged Property, the Mortgagee may make all neces- sary or proper repairs, renewals and replacements and such usefnl aiterations, additions, betterments and improvemeuta thereto and thereon aa to it may seem advisable; and in every snch ease the Mortgagee ahall have the right to manage and operate the ~ortgaged Property and to carry on the bnsiness I thereof and esercise all rights and powers of the Mortgagor with ~ respect thereto either in the name of the Mortgagor or otherwise ~ as it shall deem bes~; and the Mortgagee shall be entitled to ~ collect and receive all earnings, revennes, rents, issnes, profita ~ and income of the Mortgaged Property and every part thereof, all of which shall for all purposea constitnte property of the Mortgagor; and after deducting the eapenses of condneting the businesa thereof and of all maintenance, repairs, renewals, re- pl~cements, alterations, additions, betterments and imprnve- ments and amonnta necessary to pay for taaes, assessments, in- snrance and prior or other proper charges upon the Mortgaged Property or any part thereof, as well as jnst and reasonable compensation for the servicea of the Mortgagee and for all at- torneys, connsel, agents, clerks, servants and other employees by it properly engaged and employed, the Mortgagee shall apply the moneys arising as aforesaid, Srst, to the payment of the prin- cipal of the Note and the interest thereon, when and as the same ~ shall become papable and second, to the payment of any other snma reqnired to be paid by the Mortga~* nnder this Mortgage. ~ III. The Mortgagee, with or without entry, personally or by E ~ its agents or attorneys, insofar as applicable, may: (1) sell the Ddortgsged Property to the eatent permitted and pnrsnant to the procedarea provided by law, and all eatate, rigLt, title and intereat, claim and demand therein, and riRht ~ of redemption thereof, at one or more sales as an entity or ; ~ ~ OR :~r~ ~ # 17~ ~ ~'S8z , a~~ ~ ~ -