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Home My WebLink About2971 ~ atte~ to be re-recorded and/or retiled at such time and in such oftices at?d places aa shaU be deemed desir- able by the "Lender" a~,y and all such other and fuether mort~a$es, itulruments ot further assurance. certi[i- cates and othe~ documents as may. in the opinion ot the "I,ende~' , be rtecessary or desirable in order to ettec- tuate, complete. e~large or per[ec~ or to ~~orttinue and preserve (a) the obligation ot the •'Borrower" under the note and this mortgage. a~d lb) the lien of this moctgage as a first a~d prior lien upon all ot the Mort- gagcd I'ro~erty. whether now ov? ned or hereatter acquired by the "Borrower". Upon any failure by ihe ••Eiorrnwe~ ' so to do, the •'Lender" may make. execute. record. tile. re-recocd and/or retile any and all such murtbages, instruments, ce~titicates, and documents tor and in the name at the "Bo~cower". and 1he •'Bor- rower" hereby irrevocably appoints the "I.ender" the agent and attorney-in-[act o[ the "Burra~ver" so to da The lie~ he~cof will automatically attach, v?ithout furthe~ act, to all atter acquired property attached to and/or uscd in the operation of the Mortgaged Prope~ty oc any part thereof. 1.10. Lcises Atfectln~ Mottsa~ed Propert~. The "Borrower" will comply with and observe its obliga- tions as landlocd under all leases a[[eeting the Mortgaged Property or any part thereof. "Borrowec" will furnish "Lender" with executed copies ot all leases now or hereatter creatcd on said premises; and all le:~ses now or herea[ter entered into will be in form and substance subject to the approval ot "Lender". •'Borrower" w•ill not, without the erpress w~itten consent o[ the "L.ender", modify~ surrender or terminate. either urally or in vrriting. any lease now e~cisting or herea[ter created upon the premises described herein. ~or will the •'Borrower" permit an assignmenl o~ sub-?ease without ihe express writte~ consent of the "Lender". "'Borrower' wil! not accept payment ot rent more than two (2) months in adva~ce without the express W ritten consent of •'Lender". It requested by the "Lender", the •'Borrower" will assign to the •'Le~der" as additional security any and all such leases whether now existing or herea[ter created. including, v~ ithout limitation, all rents, royalt~es, issues and protits ot the premises irom time to time accruing. l.l l Expcnses. The "Borrowe~" v~ ill pay or reimburse the "Lender" for all rnasonable aitorney's fees. costs and expenses incur~ed by the "Lender" in an~ action, proR~eding or dispute ot any kind in which the "Lender" is made a party. or appears as party plainti[f or detendant. af[ecting the note. mortgage. borcoveer or mortgaged property, ~ncluding but not limited to the toreclosure of this mortgage. any condemnation action im-ol~•ing the mortgafied Premises, or any action to protect the security hereof; and any such amounts paid by the "I.cnder" stiall be added to the indebtedness and secured by the ::~n of this mortgage. 1.12 "Lender's" Per~ormance ot I/etaults. It the "Borrower" shall default in the payment ot any tax or other imposition, in its obligation to lurnish insurance hereunder or pertormance or observance ot any olher co~•enant, cor.dition or term in this mortgage, the "I.ender" may perform or observe the same, and all pay- men~. made or costs or expenses incurred by the "Lender' in connection thernwith, shall be secured hereby and chall be immediately repaid by the "Borrower" to the •'L.ender", with interest thereon at six per cent 16 per annum. The •'Lcnder" is hereby empov~ered to enter and to authorize others to enter upon the I?tort~;aged Property or any part thereot for the purpose of perfocming or observing anv cuch defaulted co~•enant, condition or terms, v?~thout thereby becoming liable to the "Borrower" or any p~.rson in posses- sion holding under the "Borrower". 1.13 Books aad Records. The "Borrower" shall keep and maintain at all times full, true and accurate bcwks of accuunts and records, adequate to retlect correctly the results of the operation of the Mortgaged Praperty. LTpon requcst ot the "Lender", the "Borrovrer" will furnish to the "Lender" within one hundred tM•enly (120) days a[ter the end of each fiscal year of the "Borrov?er", a balance sheet and a statement of income and expenses, both in reasonable delail and certified by a certified public accountant, and a rent schedule oi the Mortgaged Property, certified b3 an accounting officer of the "Borrower", showing the name of each tenant, and for each tenant, the space occupied, the lease expiration date and the rent paid. 1.14 Fstoppel Aftidxvitg. The "Borrow•er', within ten (10) days after written reyuest from the "i.ender" shail furnish a written statement, dul} acknowledRed, setting forth the unpaid pnnc~pal of, and interest on, the note and ~shether or not any offsets or defenses erist against such principal and interest. ARTICLB TWO Detanlts "_.Ol E~ent ot Detaalt. The term E~•ent of Detault, where~er used in the mortgage, shall mean any one or more o: the follov~•ing e~•ents_ !a) Failure b~ the "Borrow•er" to pay as and when due and payable any instaltments of principal, in- terest or tax dep.~sits 1"tax deposits" as required in Paragraph 1.03 of Article 1) ; or ~ b) Failure b~ the "Borrow~er" to duly obser~e any other covenan~ condition or agreement of this mort- ~ £a~e for thirtc t30) da}s after a•ritten notice specifying such failure shall have been given to "Borrower" ~ b}• "Lender": or ` tc) The filing by the "$orrower" ot a~oluntary petition in bankrupteq or the "Borrower's" adjudication as a bankri~pt or insol~•ent, or the filinQ by the "Bonower" of any petition or answer seeking or acquiescing in any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for itsclf under any present or future federal, state or other statute law or regulation relating to bankruptcy, insol~ency or other relief for debtors, or the "Borrower's" seeking or consenting to or acquiescence in the :,npointment ot an~ trustee, receiver or liquidator of the "Borrow. er" or of all or any substantial part ot the Mortgaged Property or ot any or all of the rents, rea•enues, issues, earnings, profits or income thereot, or the making ot any general assignment for the benefit of creditors, or the admission in v?riting ot its inability to pay its debts generally as they become due; or ! d) The entry by a court of competent jurisdiction of an order, judgment, or decree appro~ ing a petition tiled against the "Borrower" seeking any reorganization, arrangement, composition, readjustmen~ liquidation, dissolution or similar reliet under any present or future federal, state or other statute law or regulation re- lating to bankruptcy. insolcency or other relief for debtors. which order, judgment or decree remains um•a- cated and unstayed for an aggregate of sixty (60) dbys (whether or not consecutive) trom the date ot entry thereof, or the appointment of any trustee, recei~er or liquidator of the "Borma•er" or of all or any sub- stant~al part of the :I~tortgaged Property or of any or all of the rents, re~enues, issues, earnings, profits or in- come thereof ~rithout the consent or acquiescence of the "Borrower" which appointment shall remain una•a- ~ cated and unstayed for an aggregate of sixty (60) days (whether or not consecuti~e). 2.02 Accelention of Natarit~. I[ an Event of Default shall have occurred and be continuing, the "Lend- ~ er" may deciare the entire principal am.ounL of the note then unpaid, and the interest accrued thereon to be due and payaEle immed~ately, and upon suci~ declaration such principa1 and interest shall forthvrith become ~ and be due and payable, as fully and to the same effect as if the date of such declara;ion were the date ~ onginally specitied for the maturity of the unpaid balance of the note. ~ 2.03 "I.enders" Bi6ht to Enter aad Tate Possession. Operatt and Appl~ Income. ~ s ~a) If an E~ent of Default shall hace occurred and be continuing, the "Borrower", upon demand of the ~ "I.ender", shall torthv~ ith surrender to the "Lender" the actual possession, and it and to the extent permitted ~ by law, the "I.ender" itselt, or by such officers or agents as it may appoint, may enter and take possession of all the Siortqaged Property, and may exclude the "Borrower" and its agents and employees K•holly there- ~ from. and may have joint access with the "Borrower" to the books, papers ar_d accounts of the "Borrower". ~ tb) If the "Borrow~er" shall for any reason tail to surrender or deliver any such Mortgaged Property or ~ any part thereof after such demand by the "Mortgagee", the •'L.ender" may obtain a judgment or decree cnn- - ~ fernng on the "Lender" the right to immediate possession or requirinA the "Borrewer" to delirer immcdiate pocses~~on of all or part of sc^_h Mortqaged Property to the "Lender", to the entry ot w•hich judgment or de- ~ cree the "Borrower" hereby specifically consents. ~ F ~ ~ ~ ~ -S- ~ 8Q~ 19~ ~!~9 ~