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Home My WebLink About2973 2.I1 "Leader" BaUUed to A~poinlmeat ot Reoeiver. It an Event of Detault shall occur and be continu- ir?g, the~ upon the [iling ot a bil ~n equity or other cwmmencement ot judicial proceedings to entorce the cights ot the "L.ernier". the "Lcadcr" to the extertt pc~mitted by law. shaU be ent~tled as a matter of right tu the appointment ot a receiver or receivers ot the Mortgaged Property. and of the rents. revenues. issues, income. product and profits thereot, pcnding such proceedings, with auch powers as the court making sucl~ appointment shall con[er, but notwithstanding the appointment ot any receiver. truatee. or other custodian. the "Lender" shall be entilled as pledgee :o the posses~~on and control of any cash. or other instcuments at the time held by, or payable or deliverable under the terms of this mortgage to the "Lender". 2.12 3alts lo Ptolett We Mortiqed Pmpett~. The "Lender" shall have power (a) to institute and main- tain such suits and proceedings as it may deem exped~enl lo prevent any impairment ot the Mortgaged Pruperty by an~ acts which may be unlaw[ul or any violation ot the mortgage. (b) to preserve or pro- tect ?ts ~nterest in the Mortgaged Property and in the ~ncc~me, revenues, renls and pro[its arising there[rom. and (c) to restrain lhe entorcement of or campliance with any legislation or other governmental enactment, rule or order that may be unconstitutional or otherwise invalid, i[ the eniorcement o[ or compliance with. such enactment, ~ule oc order would impaic the sccurity hereunder or be prejudicial to the interest ot the - "Lender". 2.13 °i.ender" Ma~ FYIe Proots o[ Claim in Receivership. etc. In the case ot any receivership, insolvency. bankruptcy, re.~i-ga~izatiun, an~angement, adjustmenl, cumpus~t~un, or other judicial proceedings afiecling the "Borrowe~", its credit~rs or its property. the "Lender", to thc extcnt permitted by law. shalt be entitled to file such proo(s ot claim and othcr documents as may be nec~:ssary or advisable in order to have the claims of the "L.ender" allowed in such proceedings for the entire amount due and payable by the "Borrower" under this mortgage at the dute o[ the institution of such proceeclings and fo~ any additiunal amount which may lK•come due and payable by ihe "Borrower" hereunde~ atter such date. 2.14 "Borrnwer" b Pa~ the Note on Aa~ Default in Pa~ment; AppllcaUon oi Moneys b~ "I.ender". If de[ault shall be made in the payment ot any amount due under the note or mortgage. then. upon demand of the "I.ender". the "Borroveer" will pay to the •'Lender" the whole amount due and payable under the note; and in case the "Borrow•er" shalt fail to pay the same torthwith upon such demand, the "Lender" shall be entitted to sue for and to reco~•er judgment tor the hole amuunt so due and unpaid together with costs, w•hich shall include the reasonabie compensation, expenses and disbursements oG the 'Lender's" agents and attornc~ s. The "Lender" shall t~e entitted to sue and recover judgment as aforesaid either betore, after or during the pendency o[ any proceedings tor the entorcement of this mort~age, and the right ot the "Lender" to rrco~•er such judgment shail not 6e atfected by any taking, possession or [oreclosure sale hereunder, or by the eaercise oi any other right, po~~er or remedy tor the entorcement ot the terms of this mortgage, or the toreclosure of the lien hereof_ In case of a foreclosure sale of any of the I~lortgaged Property and of the application of the proceeds of s:ile to the p:iyment of the debt hereby secured, the "I.ender" shall be entitled to enforce payment of a*~3 to recei~~e all amc?unts then remaining due and unpaid upon thc note, and the "Lender" shall be entitled to ~eco~~er judgment [or any portion ot the debt remaining unpaid, with intcrest. The "Borrov?er" agrees, to the full e~tent that it may lawfully so agree, that no recovery of any such judgment by the "Lender" and no attachment or ie~•y of any execution upon any such judgment upon any of the Mortga~ed Propcrty or upon any other property shall in any manner or to any extent affect the lien of this mrotR:.~;e upon ihe Mort~aged I'roperty or any part thereof or any lien, rights, powers or remedies of the "Lendcr" hereunder, but such lien, ri~hts, po~vers and remedies shall continue unimpaired as before. Any moners thus collected b~ the "Lender" or recei~•ed by the "Lender" under this Paragraph 2.14 shall be applied as follov~s_ . First to ihe payment o[ the rea~onable compensation, cxpenses and disbursements of the agents and at- torne~•s oE the "Lender"; and Second, tow•ard pa~ment ~f the amounts due and unpaid upon the note. ' 2_I5 Delay or Omisslon No Walver. No delay or omiss~on of the "Lender" or of any holder of the note to exercise any right, poK•er or remedy accruing upon any de[ault shall exhaust or impa~r any such right, pou•er or remedy or ~hall be construed to be a ~~•ai~•er of an~• such default, cr acquiescence therein; and e~•er~• right, pow•er and remedy gi~•en U} this mortgage to th. "L.ender" may Ue exercised from time to time and as often as ina~ be dc.~emed expedient by the "Lender". 2.16 No Waiver ot One Detault lo Attect Another, etc. No w•ai~•er of any default hereunder shall extend ~ tb or shall affect any subsequent or any other then existin~ default or shall impair any rights, powers or ~ remedies consequent thereon i i If the "Lender" !al gra~its foret~e<rance or an eatension of time for the payment of any sums secured ( hereby Ib) takes other or additional security for the pa~~ment thereof; (c) wa~~es or does not exercise any ~ right grant~ herein or in the note: ld) releases any part of the Mortgaged Property from the lien of the ~ mortgage or olherv?ise changes any of the terms of the note or mortgage; (e) consents to the filing of any map. plat or replat thereof: ( f) consents to the grantins of any easement thereon, or ( g) makes or co~.- sents to any aereement subardinatin~ the lien or chan~e hereof, any such act or omission shall not release, ~ discharge, modity, change, or aifect the original liability under the note, mortgage or otherwise of the "Bor- i row•er" or an~ subsequent purchaser of the Mortgaged Property or any part thereof, or any- maker, co-signer, endorser, suret~ or guarantor; nor shall any such act or omission preclude the "Lender" from exercising any right, poK er or pri~ ilege herein granted or intended to be granted in the event of any other detault then made or of an~ subsequent detault, nor, except as othcrw•ise e~pressiy pro~ ided in an instrument or instru- ments erecuted by the "Lender" shall the lien of this mortgage be altered thereby. In the e~ent ot the sale or transier by operation of la~v or otherwise of all or any part of the 111ortgaged Property, the "Lender", u ithout notice to a~y person or corporation is hereby authorized and empowered to deal w~ith any such ven- ~ dee or transfere^ with reference to the Mort~aged Property or ihe indebtedness secured hereb~, or with reference to any of the terms or conditions hereof, as fully and to the same extent as it might deal with the ~ original parties hereto and v~ ithout in any way releasing or discharging any of the liabilities or undertakings hereunder. - 2_17 Diiconlinuance oi Proceedinas - Position ot Parties, Restortd. In case the "Lender" shall ha~~e pru- ceeded to enforce any right or remedy under this mortgage by foreclosure, entry or otherwise, and such pro- ceeden~s shall ha~•e been d~scontinued or aba~doned tor any reason, or shatl have heen datermined ad~ersely ~ to the "Lender", then and in e~•ery such case the "Borrower" and the "Lender" shall be restored ta their for- ~ mer pos~tions an3 rights hereunder, and aU rights, powers and remedies of the "Lender" si?all continue as if ~ no such proceeding has t~een taken. ~ 2.18 Remedies Cmm~l~tive. No rignt, power, or remedy conierred upon or reserved to the "Lender" by ~ this mort~age is intended to be exclusi~~e of any other right, power or remedy, but each and e~•ery such n~ht, pow•er and remedy shall be cumulati~•e and cancurrent and shall be in addition to any other righ~ 3 power and remedy gi~'en hereunder or now or hereatter existing at law or in equity or by statute. ~ ~ ARTICLE TflREE s~ ~ ~ ifiscellaneous ProvLsEoffi ~ 3.O1 Soccessors and Assia~ Included in Parties. Whene~•er in this morigage one of the parties hereto ss named or referred to, the successors and assigns of such party shall be included, and all covenants and ~ a~reements cuntaaned in this mortgage by or on behal[ of !.he "BorroNer" or by or on behal[ of "Lender" ~ ~ ; 194 ~ ~~i ~ ~