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Home My WebLink About1251 ~ -z- - mortgaged propert~, or an~ part thereot. wbioh ahall bave priority o~er tbe lieo oi t6ia Kortgage; ~d) Tbe Kortgagee'e diecover~ oi tbe Kortgagor'• iailure in any ~ application o~ tba Hortgagor to tbe Kortgagee to dieoloae any fact deeded b~ the "drtgagee to be ~aterial, or of tbe making therein, or in any of the agreeaente entered into by tbe Kort- gagor Mitb tbe llortgagee (fncluding, but Dot livited to, tbe Note and tbia Kortgsge) o! any afarepreeentation by, on be- ~ - bal! oY, or tor tbe benelit of, tbe l~iortgagor; (e) Tbe eale, leaee or otber trapafer oi an~? kind or nature oY tbe mortgaged property, or any part tbereoi, witbout tbe prior rrritten conaent oY tbe I~ortgsgee; . The_Mortgagee•e fai~ure to ezercise any o~ its rights bereunder aball not constitute a waiver tbereof. All tbe evente in tbis Paragrapb enum- erated upon tbe bappening ot any o! wbicb tbe 8ote eball become, or may be declared to be, immediately due and pa~yable, are in tDia l~ortgage called "eventa of deYsult". _ . 12. Tbe Mortgagee m~y from time to time cure eacb deYsult under aDy covenant or agreement in any inatrnment creating a lien upoD tbe mort- gaged property, or any part tbereot, ~aicb ahall bave priority over tbe lien of thie Mortgage, to sucb ezte~t as the I+iortgagee map e=cluaively ~ determine, and eacb amount paid (it any) by tbe I~ortgagee to cure any ! such deYsult aball be paid by tbe l~ortgagor to tbe riortgagee; and tbe ~ Mortgagee eball aleo become eubrogated.to whatever rigbte tbe holder o~ tbe prior lien migbt bave under auch inetrument. . ~ 13. (a) A~ter tbe bappening o! any defanlt bereunder, the Kort- gagor shall upon demand.ot the l~tortgsgee aurrender posaeseion of the nortgaged property to tbe l~ortgagee, and tbe I~ortgagee.may enter auch-- property, and let tbe asme and collect all.the rente tbereYrom wbicb E are due or to become due, and apply tbe eame, aYter payment of all cbargee f ~ and eapenses, on account ot the indebtedneas bereby secured, and all eucb rents and all leases ezieting at the time ot sucb deYault are hereby ~ assigned to the Mortgagee ae furtber eecurity ior tbe pay~ent of tbe ~ ~ ;ndebtedneaa eecured bereby; a~a tbe Kortgsgee may aleo diepoesesa, by t~e usual summary proceedinga, any tenaDt de=anlting in the payment oi any rent to tbe Mortgsgee. _ _ • ~(b) I~ the event tbat tbe Mortgagor occupiee tbe mortgaged pro- ~erty or any part tbereoi tbe Kortgagor agreee to eurrender poaseasion ~ of such property to tbe Mortgagee immediately atter any eucb default ~ :ereunder, aod if tbe Mortgagor remaine in poaeeseion after aucb default, ~ sucb possession sball be ae a tenant oi the Kortgagee, and tbe Mortgagor ~ shall pap in advance, upon demand by the Kortgagee, ae a reaeoDable montbly rental for the premisee occupied by tbe Kortgegor, an emount at leset equivalent to one-tweltth~oi the aggregate oi tbe twelve montbly install- nents payable in the cnrreDt calendar year, plue tbe actual amount of tbe ~ ~ annual ground rent, ii any, tazee, aeeeeetente, vater ratee, otber gov- ernmental chargee, and ineurance premiume payable i~ connection witb ~be mortgaged property duri~g aucb year, and upon tbe tailure ot tbe Kort- . gagor to pay eucb montbly rental, tbe Kortgagor ss,~ sleo be diepoeeeeeea by tbe ueual eummar~ proceeainge applicable to tenante. Thie aoveDant ~1~ ~i249 . - - - - _ ~ -