HomeMy WebLinkAbout1100 ot~ner of said properCy at th3t ti~e.
13. Mortgagor will deliver to tl~e Mortgagee a
statement of annual income and exoenses, in detail satisfactory
to tt~e ~lortgagee, in coanection with the mortgaged premises
within ninety (90) days after tt~e expiration of eacDl fiscal
year, certifieci by a certified public accountant or as other- '
wise acceptab2e to the riortgagee. ~
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19. 2•iortgagor ~vill not acquire any fixtures, equipment, ~
furnishin5s or apparatus relating to the said property covered
by this mortga5e subject to any security interest or other charge
or lien taking precedence over this mortgage. ~
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15. That, in the event the o~~nership of the mortgaged '
premises, or an~~ part thereof, becomes vested in a person other
than the vortgagor, the Mortgagee may deal with such successor
or successors in interest wit:~ reference to this ~r.ortgage and the
debt hereby secured in the sar,le manner as with the ~iortgagor,
without in any manner vitiating or ~ischarging the Mortgagor's ~
liability hereunder, or upon the debt hereby secured.
16. As additional security for said indebtedness the ~
MortgaQOr hereby assigns to t!~e :;ortgagee all present and future
leases oP' and a1.2 rentals and income frorn the mortgaged pre::tises,
and agrees not to procure or accept the prepay:~ent of any rents
or incc-?e fror,i the mor~gaged pre~ises for more than one month
except with the prior ~.ritten consent of the Mortgagee. In case
ot default in the performance or observance of any of the terms
or conditions of saia note or mor~gage, (1) *he ~iortgagor agrees,
upon der.iand, to deliver ~o the Alortgagee all leases an3 agree:nents
for the occupa:~cy ot any part of the mortgaged premises, j,aith
such additior.al assignr.:~nts thereo~ as the :ior~gagee r.1ay request,
and agrees that the ::ortgagze may assume the managernent of tne
mortgaged premises an3 colZect t'r.e rentals anci other income
therefrcm, appiying the sa::~e upon said indebtedness; and (2) ~
the ~~ortgag~r hereb~? authorizes ana directs all tenants or
other perso~s occu~~~ir.g any ~art of the mortgaged premises
to pay all rer.~als and incene due under said 2eases and agree-
ments to t;ze ::ortgaa~e upor. request oi the ~iortgagee. .~Iortgagor
hereby appoints ::oztcacee i~s ~~ue ar,d lawful attorney in fact j
to manage said ~roa~rty and coliact the rer.ts, c~rit:: full po~tier ~
to brir.c suit :cr coliec;.ion o~ said rents an~ possnssion of ~
soid grc~erty, givi:~g a:~d grantir.g unto said :•Iort33gee and unto ~
its agen~ or attorr.~l `u31 ro::er ar.d authority to do and per~or,n
all and evert? aet ~r.a taing c~hatsoever requisite anc: necessary
to be don~ in ~i:e prezection e~ ~'r.e security here?~y con~~eye3;
provi~ea, ho:.evzr, tzat tzis ~~~•:er of attorr.ey and assiqnMen~
of rents s~ail no~ ^e cor.s*_~~ed as an obliga~ion upen saiC
Mortc;agee to r.za;te or caa~e :.o be .~~a3e any re~airs ~:~at may be
need:ul or r.~cessarj. :`.ortgagee snall receive tze nrocseds o:
the rents ana prc~its of said ~re:r.ises, o»~ o~ c~hi~h it sha:.i
pay: (1) reasonaa~e c::Grges ~or co22~ction ~f r~nts, cost o~
necessary repairs a:::: ot:~er co~cs req~isite and necessary ~::~~ng ;
the continuar.ce c~ t::is poc•:er oi attorney anci assig.^.:,ient of rents,
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