HomeMy WebLinkAbout1534 ~.31 "I.Cttdi 1'n1i11M1 1~~ Appai~~ln~~nt ~~f It~~~i~•~r. If :~n }:v,•nl ~~f 1)~•f:~ult t.l~all n. ~ nr an•l 1~• ~..:~I~n~~-
::1~. ih~~l u~~utl thi` ~~1~1U: t~( a MU ~n ~•yu~lY ~~r nU~~•~ c~~mnu•n~~•n~~•r~t ~~~~It~~~~l ~~~~~rr~vL~y;: rt~l~ur~ lhc
1'~~;tt: o[ litr ••i.i`nd.`r.., Iht• ••1.~-~~Jr~.. l~? Ilu• ~•xtrnl ~.~•i i~ii11~•~1 bv I:~w, ~h:?11 1~~• rnlitl~•~1 a rn:~llrr nf:ht
lO ih? ~~~j.~~ittl~:li`~tl ~~f ;1 ~ ~~•r~~•~•r ~q' ~ ~~•r~vr~ ~~~f Ihr ~l~~i tl:~~lt~'~1 1'~ u~~~v 1}'. :uul ~d lh~ 1~v~l ~ r•: ~•mn••., ~~.~,~~r
~n:u:ti~. p~~tiitt:l :in~1 {?~i~f~tc tl~r~~•n(, p~•n~lu~l; c~i~•h ~~~~a•~•r~iiii::c, u•~Ih ~ucl~ ~~uw~•~s Ihr ~~~~~~t tn:~i::n•; ~.~~r}~
~~~pO:tii:tia~iti: chail Crnfrr. ~~ul n~~t~v~th~la~ul~nl; lh~ :~~~~~~~~nUi~r~tl t~( :u~}' r~criv~•~, lru•:1~•~~, otl~~r ~u•.inriian,
tttc "I..•ncirr.. shall hc rttt~li~~~l ~•1~•il~;~~r t~? Ihr p~~~•.~•.•.~~~n :~iul i•~~nln~l i~! :u~y ~•:~•.h, r~r ~~th~•r u?~,l~~~m~•nt~ al
Gh~ tti:i:e Itclci u~•, ot~ p~yabl~ ur di~li~•c~al~lr u~ulrr Iho I~nue ot this nuul~;:u;~ t~~ lh~ "L~•~~~1~•r",
^..1~ ~uits tu 1'rntcct Il~c ~lorl~i~cd 1•rupc~ly. 9'h~ "I.cnQcr° thill ha~~c {N~~v~r (a) tn in~.titulc :~n~l main-
ta:~ ~uch cu~tc at~d pi~x~cr~lii~~;c nc it m~y dr~•m cx~~c~li~nt to ~i~cvcnt ~ny ~~n~,:~i~m~nt ~?f the 1~1~?rlt;a[:cd
r:opc: ty b~• an~• acts ~rhicl~ m~y I~c unla~a f~il or :iny ~•iolation of th~: m~~rt1:~1:~. ( i?) to pr~• :crv~~ n~ pr~~_
:c:: ~ntcrest in thc \1~~rtt;a,;cd 1`ropc~•ty and in lhc ~ncomc, revcnuc~, rcr.!c :~n~t profits aris~nt~ th~r~frnm,
ar,d ~c) :o restra?n the en(orcem~:ri of a• c~mpliance ~vith any le~isl~lion or oUi~r t;~~v~rnmm~t:~l en:~ctmr_r,t,
ruic or orcicr ihat mai• I.c uncancti~utio:ial or othcr~~•isc i:~~~a{id, i; thc cnf+.:c~•m~nt oi or cn:ni~liance \Vi1F1,
sacn cr.actment, rulc o~ o~~icr H•ould impair th~ c~~urity hcrcuncicr ar I~e prejudic~al to thc intcrc~t of the
••:.enacr".
~.;3 "Lender" lIa~• }ile 1`ronf~ o[ Claim in It~cri~~er~Lip, ete. In the c~~e of any receivership, :ns~l~•ency,
b:+n~r?~at:y. mo:tianixat~~n. arra»~;i•mciit, ad~ust~~i~nt. c~~m{w~~ition, or othcr ~ud~cial pzocecctin;;s ai(~•ct~n~ thc
"3orrou•e:-", its cr.ciitors ~r its property, the "Lcnder", to the exlcnt permitted by lav?, shaii he ent~tled to t~te
such ~roois ot claim an~i Mlicr documents as m:iy he nece~cary or advisal~Ie in or~er to have the claims of •
::e "..endcr" ailo~reci m~uc>> procecd~n~;s fur the entire amount due and payahle by the "13orrower" unde:
inis mort_a~e at the date o( the insUlution of sucli proce~d~n; s anci for any add~tional amount which may
occomc duc and pay~Ule by the °l3orro~ver" hcrcundcr aftcr such datc.
2.14 "Borro~~cc" to I'ay Uic ~ote on Any i)cfault in Paynicnt; Application ot .lloneys by "I.endcr". I°
deiault c7ail be madc in tt~e pa}•mcnt of any amount due undcr 1he note or mort~a~e, then, upon deman~
o: thz ••Lendcr". the "Dorrowcr" will pay to the "Lendcr" ttic whoie amount due and payat~l~ under the note;
and ~n case the "Borrower" shall iail to p~y the same forthwith u~~on such demand, th~ "Lender" s'r.ai:
be e:t~t:e~ Lo sue tor and io recover judgmenl for ihe ~vhole amount so duc and unpaid to~ether with cos:s.
~~hich shall include the reasonable compensation, expenses and disbursements ot the "I.ender's" agents and
attorneys.
Tiie "Lendc:" shail be entilled to sue and recovcr ji~d~ment as aforesaid cither betore. a:ter or durin~
the pendency oi anp proceed~n~s tor the enforcement of this mortga~e. and the ri~ht ot the "Lender" to
r~co~•cr s~ch jud~ment ~hall not be af[ected by any takin„ pocaescion or foreclocure sale hereunder. ~r by
t~.e exerc~se o; any other ri~ht~ pov?er or remedy tor the enforcement of the terms o[ this mortgage, or the
fonciosure o: the lien hereof.
In case of a iorec~ocure salc ot any of thc Mort~a~cd Propcrty :nd of thc application of the procecds of
sa:e to the payment ot tl~e dcbl hereby secured, thc "I.ender" shall be entitled to en[orce payment oi and
:o recei~•e ~11 amounts then rcmainin~ due and unpaid upon the notc, and the "Lende:" shall be entiUed to
reco~•er judement for any portion o[ the debt remaininR unpaid, with internst.
; ne "~orrow•er" a~~ees, to the fuil extent lhat et may :awfully so agree, that no recovery of aay such •
;ud€ :~ent by the "Lender" and no attacnment or levy ot any execution upon any such judgment upon any
of the ~:origatied Propcrty or upon any other property shall in any manne: os to any extent atiect the ]ien
.of this m: ot~ase upon the i~iort~eaged Properly or any part thereot or any jien, rights, powers or remedies of
ihe "Lender" hereunder, hut such lien, rights. powers and remedies shall continue unimpaired as before.
Any moneys thus cc+llected by the "Lender" or received by the "Lender" ander this Paragraph 2.1~ shall
be applied as follows:
First io the payment oi tl~e reasonable compensation, expenses and disbucsements of the sgeats and at-
torneys oi the "Lencicr"; and
Second, ioward pa3mcnt o( the amaunts due and impaid upon the note.
2.15 Delay or Omis.~ion l~io ~Vaives. No dclay or omission of the "Lencicr" or of any hoidc: of the note
to exercise any r~ght, po«er or remedy accruin~ upon any default shall exhaust or impair any such rigi:t,
powe~ or remedy or ch~ll he rnn~trucd to be a~vaiver ot any such default, or acquiescence therein: and
' every r~~ht, pou•cr and r~mcdy Qi~•cn hy this mort~a~e to the "Lendec" may be exercised irom time to time
` and as oftcn as may hc decnicd expedient by the "I.ender".
2.16 \o ~4~i~•cr ot Onc ilctault lo At(cct Anolher, ctc. No Kaivcr of any deiault herzunder shall extend
~ to or cizali aifeci any cul~c~~,~~nt ar any oil~er tf~en cxislin~ de(ault or shall impair any ri~hts, powcrs or
remeci?es conseGi:ent thereon.
E tne "i.enccr" (a) ~rants forc:~carance ~r an cxtension of time tor the paymcnt of any sumc se;urcci
? i?e:eby (b) taices oiher or ~d~it~onal security for the payment thercof; (c) ~vaiti•es or does not exercise a~v
f ri;;n: gcanted 'nerein or ~n tnc note: (d) rele:?scs am• part of ihe ~iort~~~ed Property frem thc iien of ;he
~ mo: tga:;e or otherwise chanRes any of the terms of tl~e note or mortGage; (e) consents to the i~l•.n~ of a:~y
~ m:,p, plat or replat thereof; (f) consents to the firantin~ of any easement thereon, or i~) makes or con-
€ ser.:s io any aRreement sui~ordinalin~ thc licn or chan;e hcrcof, any suci~ act or omi~sion chall ~ot rcic~~e,
d:scharge, mod~fy, change, or affect 1he original liability under the nMe, rnort~a~e or othe:.vise oi :ne "Bo: -
~ ro~:er" or any subsequent pu~cha~cr of the Morl~a~ed Propcrty or any part thcrcof, o: any m:.;ccr, co-si~ncr. ~
endorsec, surety or guarantor; nor shall any su. ti act or omissi~n preclude the "Lender" from exerc:cin; any
~ rigrt, power o: pnvile~e herein ~ranted or inlendcd to be i,ranted in the event of a~y other default ther.
~ r..ace or oi any subscquent ~iefault, nor, except as otherwise expressly providcd in an instrument or :nstru- ~
~ ments executed 'oy the Lendcr" shall the lien of this mortga~e be altered thereby. In the event o: tnr si~e ;
~ a: trar.s:er oy operation o( iaw or otherwisc of all or any part of the Uort~a~~d Property, the "iendzr", ;
~ w:tnost notice to any person or coraaration is hereby authorised and empo~+ered to dea2 ~vith a:?y such ~~er.-
~ dee or transferee with refercncc to the Mort~a~ed Propcrty or thc indebtedness sc.ured hereby, o: wi:h ;
: e:e: e~cr to any of the terms or conditions nereoi, as lully and to the same extent as it might deai ~vitn the i
~ orjg:r.a: parties hereta and witho~t in any way relcasing or discharging any of the liabilities or undcrtakin~s
~ nereunder. ~
2.:7 Discontinuan~e of ProceedinRs - Position of Parties. Hestored. ;n case the "Lender" shail na~•e pro-
ce2ccd io en;o:ce ~ny :~~ht or remedy under this mort[a~e i~y forec:osure, entry or otherv~~ise, a:~d such p:o-
ceec.nes sr~:~i~ F,:,va necr. disconUnued or abandoned tor any reason, or shall have hcen deter;n~ncd adversely ~
to :r:e "..ender", then and ,n cvcry such case the "Borrowcr" and the "Lender" shall be restored to their for- ;
_ rr.cr ;.os?t~ons :,rd :i~hts nercunder, and all rights, powers and :emedies of the ":.ender" sha31 continue as it
- no suc~. procee~~ng ~as becn taken.
_ 2.18 Rcmcdics ~umulalivt. ~1o r~~ht. ~owcr, or : cmcciy conicrrcd apor. o: -cservtn to t}:c "Lcnder" by
_ tnis mort^;,tie :s ;ntencicd lo be exclusive ,ot any athe: rirht, ~wer or remedy, but each and e~•ery suc2~.
r~yht, power and remedy shall be cumulative an~i roncurrent ano shall be in addition to any other right,
= power ar.d remedy g~ven hereunder or now or ncrc:~ftcr cxisting at lew or in equity or oy statute.
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' AIiTICI.E TIIRF.E
:?Sisccllancous I'rovisiocLs
3.0: Succe~.~ors and Attiigns Jnclu~ed in Parlies. Whenevzr in this mort~a~;c one of the parties hereto
is ndmed ~r referred to, the euccessors and assigns of such party shall be included, ar.d ail co~•enants and
. a~reemer.ts conla~ncd ,n thu mortro~e by oe on beh~lt ot the "Borrowe~' or by or on beholt ot "Lender°
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