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Home My WebLink About0791 13 ~ ARTICLE II EVEICTS OF DEl'AULT AI~D I~E~IEDIES SECTION 2.01. If one or more of the follo~ving Erents of Defanlt shall huppen, thut is to say : (a) if (i) defAUlt sball be mude in tl~e pa~n~ent of any in- terest on the 1~'ote, or in the pa~mcnt of anr instalment of prin- cipal, in either such cASe, ~rhen and ns the san~e shall become due and payable, and such defuult shall l~ave continued for u period of teu (10) da~ s oi• (ii) defuult shull be mucle in ans otl~er puy- ment of the principal of the \ote, ~~heii nnd as the same sl~all become due and pupable, «~hether ut maturity or bp acceleration or as purt of any prepay-nnent or otber~vise, in each case, us in the ~ Note and tliis Diortguge provided and sncl~ clefault shall h~ve ~ continaed for a period of ten (10) dnys or (iii) defuult shull be ! ; made in the payment of any taz required bv Section 1.07 to be ; ~ paid and said defai~lt sl~ull hure continued for a period of t~venty E (20) daps; or F ~ (b) if defanlt shall be made in tl~e due observance or per- ~ formance of any covenunt or aareement on the part of the 11lort- k gagor contained in Section 1.01, 1.03, 1.08, or 1.09, and such default shull bave continued for a period of t~venty (20) days ; after ~ritten notice thereof shall Luve been given to the 111ort- p gagor by the ~Iortgagee. For the purposes of this clause if any = representation made in Section 1.01 shall be incorrect, it shall be ~ deemed to be a default; or ~ r (c) if default sball be made in the dne observance or per- ; ~ formAnce of any other covenant or condition on tbe part of ~ ~ the ~fortgaaor in the Note, the Building Loan Agreement or in ~ ~ this Dlortbase contained, und sucl~ default shall have continued ~ ~ for a period of tbirty (30) days after ~critten r~otice specifping ~ x sucb default and demunding that the snme be rem~died shall have ~ been given to the 11lort~ugor by the D~fortga;ee; or ~ ; - (d) if bp the order of a court of comj~etent jnrisdiction, a i trustee, reeei~er or liquidator of the ~ivrt~~~ed Property or ; auy pArt thereof, or of the 1ltortgngor sball be nppointed and ` Ys snch order shall not be discharged or dismissed wit6in siaty (60) - cla~a after sucl~ appointmcnt; or (e) if the Diortgagor shall file a petition in bankrnptcy or ~ ` for an arrunrement or for rcorrunization pnrsi~ant to tbe Fed- - eral Bankrnptcy Act or any similar luw, federal or stnte, or if, - by decree of a court of competent jnriscliction, the D~tortgagor 80AK~G.W P~CE ~ ~ : ~ - - - - - - - - ; ~ ~,~G _ ~ ~ _ - -z- ~~.«rz ~ , .r a r~ :.r~ s:~ ' _ ~ - ~ ~.y . `x m.~tt'~