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Home My WebLink About2986 .n.e b e. r.- a~vae~~ .t su~bq~ .Ad W.uce omo.. .na oLo.. ,balt b. a.Mn.d a.We- abl~ ba? "Iw~aq~r aad aU woh oth~e aad it~t~Me m lastrua~pts o~ Auth~e~p~t~no~ outlt!- baiat~,~otlwr doct~~is ~s mi11?. o,e~to~ooa~ttaw ~~r~ ~ Ho~ct th~i ~ a~ tl~ noM~~ aad (b) tM lia~ o~ this as a~~priae ll~n upon ot tM ~iart- wMtMe naw o~a~d oe ~ ia~~~ tbt ~Ho~co~". Upon aN? ~ b~ ~ p{~ ~ y~ ~a~r ~o~, ~p~, t~ooed.~ t~s-r~eoe~d ~d/ae re~l~ aq~ and all wcl~ ra~s" ~Ad doca~m~ats :tvr ~ad it~ tb~ tw~ a~ M~ "Ba~raw~s". aad ~t "Hoe- b t~ 'Z.~ndK" tl~e t~d at~oeoq?•ia-tact at tb~ "Baero~w~r" ~o to do~ ~ tus~W t~ aopi~ra~tl~~ ~ta'tpsed ProPu'V a W p~rt t~~o[.+104W~ atta~L~d ~o 1.10. Iw~~ A~ ~e~d ~e~eV• TM "Borro~wet" w!ll coa~pUr witb and obs~ve its obli~a- tiaas as landtaed ~ lasM th~ l[a'tt+~t~ ~Y s41? theno[. "Borro~ver" will furnia? "Le~der" with e:ecuted ~ all le~tM no~w oe here~Lt~er ce~~ on qid pre~nises• and all leases no~r or here~it+er enter~ed in wlri be in iozm and substance sub~ect to the ~pproval a~ ~I.~er". -"Hocro~ver" ~Pill not. witbout tbe e:pres~ writtw ooasent a[ the "I.eAder". modit7. ari'enda' ae te~nninate. ~ either on11~ or ia vvritins, aq~r l~ase no~w e~dstln~ ac hereaita~r rreated upon tbe prmni~er de~cribcd be~+ein. nor ~vill the "Ho~ro~rer" __permit u? n~a~t ae sub-lease rvi~ou! tl~e ezpress written coasent ot the "i,ez~der". '"Ho~rrower" will not ao~ceptp~n t a~ rent moce than two (Z) moaWs in ~dvance ~vithaut the express writt~cu coosent ad "I.endez". II rNuested b~ the "I.ead~". the "Bo~ro~ra:" will to the ~vit~hout limit tlao. all reats. r~al~ a= d pro2lts ~ ffie~p~e~asisa i~~m tlme to~dme aocc~~• 1.11 E~pe~ses. The "Borro~vez" will~p~y or reimburse the "I.endez" for all reasonable atto~aey's iees. oosts and ezpeases iucurred by the '?.ender" in actioa. proccedins ae~ disputie a~ aay ldnd in wbich the ~"I.ender" is made apar~y. a~ app~n as tlif cr de a~daa att the aote. mortgs~e. borrower or nKU'tBsged Property. ~including but not to the fo~+eclosure ~ th4en~ g4Y coademnatioa acflm by~tbev. 'Zendemr"~~ p~ ~ a~ctlon to proteet tbe security herea~i: ~ any such amo~mb paid be added to tbe 3ndebtedneas and secured by tLe liea ai this mortgage. ~ 1.12 "I.e~r1~" letto~rasasoe ot Dets~ib. Ii the "Borro~ver" shall default in the payaient ai aqy hz or other impositi in ib obligation to furnish insnranoe here~nder ar~e rio~manoe oc obs~vanee aRany other covenant, condi~on or term in this~~~~~or age. the "I,end~" ma?Y P~orm a~ obmerve the wne. and all - ments made or coats or ezpenaes by the "I.ender" in caonectioa there~viths shall be a~e~y~~I~ a' tt@~ ~ ~ and shall be immedia repaid by the "Hozro~va~" ta the "I.emdea". with interes~ tbereon s~t oen ~al~ 13 7~0~'1G) P~' annum. The~I.ender" ia henb~y empaarered to ente~r and to autho~ine others to enter upon the Mortgaged Pro~erty or aqy part thereod or the purpose oi pert ' or obs~vjn8 u1Y such dei~?ulted coveaant, cu?d~tian ar terms. ~vithout thereby beca~nin8 liable to the c~ aaY P~~ ~ P~- aion holding under the "Borrawer". . 1.18 Boob and ~eoord~. 1~e "Bormwer" ahall keep and maintain at all times full. true an~d accurate books o! accounts and records. adequat~ to reflect correctlY the results oi the operat~ oi ffie Mortgaged Property. Upon request of the "Lender". the °Horrower" will lurnish. to the "I.ender" arithin ane hundred twenty (1~0) days after the end of each fiscal year oi the "Borrower". a balaaoe sheet and a stateanent oi ~ and ezpenses. boffi in reaaos~able detail and oert[~ed by a certiiied public aa~ountan~and a reat achedule of the Mrtgag Pro~ . certified by an acconnting ofiicer of the "Borrower", ah the name ~ ot each tensnt, and~ fa~ ~esch tenant~ the spaoe ooc~Pied, the l~se ezpiratiaa dabe and the reat pai 1.14 ~stolpel Affids~ib. The "Horrower", wtthin ten (10) ds~rs after ~avrittearlncipal ~~interest on. shall furnish a written statement, duly acknowledged, setting iorth the nn dp the notc and whether or not aqy oHaets or defenaes ezist agaiast such P~P~ At'1'ICI.E TWO Defi~~lts ~.Ol Bveat ot D~fsdk The term Svent ot Default, wherever used in the mortgage, shall mean aa,y one or more of the follo~wing events: terest or tas epo~ta ("taz~d poafta~" as~reciuired in Pa~ragraph 1. ble any installments a2 principal, in- , 03 ot Article 1) : or i (b) Failure bp the "Borraw~er" to duly obaerve a4Y other covenant, conditio~ or agreement oi tbis mort- i gage for thirty (30) days after written notice specifyin8 su~ch failure ahall have been given to "Borrower" ~ by "I.ender"; or (c) The 81in8 by the "Horrower" oi a voluntary Petition in bankruptcy or the "Borrower's" ac~udication as a bankruPt or insolvent, or the iiling by the "Ba~rawer" oi any ~etitioa or ans9ver seelring or acquieacia8 ;n any reorganization~ arrangement, composition, regd,iusm~eat, Hq~u~ation. dissoluflon o~ simiiar reliet for itseli under any Preaent or ture federal, stste a~ othez atatute law or regulativa relating to banlQUP~Y. insolvency ~ other relief for debtors. o~ the "Hon~ower's" seeting or consenting to or acquiesoence in the appointment of any trustee. receiver ar Hquidator oi the "Borrc~we~" os oi all or any substantial part of the Mortgaged PropertY o~r oi any - or all o~ the rents, revenues. issues,~rn~n,~, Profits or income thereo~ or tt?e m~?1rin8 ~~Y Seneral a~nment for the bene~t of credito~s, o~ the da mission in writing of ib inability to pay its debts general~y as they become due; a~ cd) ~e e~,~r by a oo~rt ot oo~npetent ~ns~sdiction a~ an order. jadgmenk or decree approvu~g a petiti~ filed againat the "Horrower" aeelrin8 a~?Y reo~'B~~~~. ~~S~k ~D~~oA. ~ad~ustmeat, liqmdation. dissolutio~t or similar reliei under ayy Present a~ tuture federsl, atatc o~ other statute law ~ regulation re- la gto banl~uptc9 insolvency or other reliet i~ deb~ ahich o~. ~ud~~at or d~r~ remains unva- cated and ~mstaYed ~aa~ an aggregatt oi sizty (60) da3rs (wbether a~ not consecuttve) iram tt?e date oi entry ther~o~ or the appoinbo~ent oi any trurtee, receiver or llguidator o~ the "Borrower" or oi all or any sub- stautial Part oi tbe Mortgaged Pro~erty ~ a2 aqy ~ all or the reab, revenues. iasues. P~ts or ia- come thereoi withaut the ca~~aent or acquiesoenoc o~ the "Borrower" abich appointrnent ah remain unva- cated and unsta,Yed for aa aggregate oi sizty (60) days (whether or not consecutive). Z.O~ Aooeleratioa of ~l~rit7. Ii an Event oi Default sball have oocarnd and be caatin the "I.end- . er" may declare the entire rlndpal amount o~ the nate then unpeid, and the intecest socruei~ereon to 6e due and payable ima~ediaate~?. and sttch decLratian su~h prlnc~'pal and inttrest shall fort6with become ma e i ~ and be due and payable, as iu1~Y to the same eKect as ii the date a~ such declaratio~n were the dat~e o~i~na11Y sp~ for the msturity o~ the unpaid balanoe at tbe note. Z.os "r.eaaer's" ~o E~ar aaa Ta~e P..er.1o.. o~afe a.a s~pry rsoo~~. (a) Ii aa Svent of Detault shall bave oocurred and be cantin the "Ha~row~", upon demand of the "I.ender" shall ia~th~vith surrtnder to the "I.end~" the actual posse~on. and ii and to the eztent permitted by law t~e "I.ender" itaelt. oc bY such o~ficers oc a~enb is it msq? appom k tna~? enter and talee on oi all t~e Mortgaged andma,~ esclade the "Bore~o~rer" aad ib asenb and employees ~vho~there- fro~n, and m~Y have ~oin acoe~ aith the "Hacro~er" to ffie boo3u„ WP~ aad ~ooo+~nb a~ the "Borro~rer". . (b) Ii the "Horm~ver" ahall far W reason fail to surrender oc deliv~rraq~ s~ch Martgased Proprrty or W Part tbereot aiter such demand b7 ~"~~[=i~". tbe "I.ender"msy obWn a iudpnent or decree con- ferrins oa the "I.eader" the t to inamediate poresdon ar requirini tt~e "Horrewer" to dellver imatediate po~session of all orp~t oi ~ Pe~opezt~r to the "I.ender". to t6e mtry a~ wfiich iud~nent or de- cree the °Borrawer" bereb~ oon~enb. . ~185 ~2!~89 ~ ry;v-;~z r w : ~ ~.~t 4 _