HomeMy WebLinkAbout1303 purpose of indemnifying the said SURETY IKANAG~.RS, INC., its successors
and assigns, and saving it and ~hem harmless from any and aZl liability,
loss, costs, demages, clai~~, suits, attorneys~ fees and expenses of
whatever kind or nature which it or they may sustain or incur as a re-
sult of or in connection with the execution of an~ bond written under >
the terms of said writ~en contract, or which it or they sustain or ;
incur in making any investigation on account of any such bonds or de-
fendinj or prosecuting any action, suit, or other proceeding which may
be brought in connection therewith, in obtaining or attempting to ~
obtain a release from liabilit~ under any such bonds o~ in continuance
or substitution t2~ereof, or in locatino, extraditing or surrendering ~
the person bailed. SURETY MANAGERS, IrIC., or its successors or assigns,
shall have at all times the full power and attorne~ without notice to ~
the said Grantor(s) to i"oreclose uvon this mortgage, to obtairi judgment _
against the said Gran~or(s) for tbe amount hereof and to have the above
described premises sold at public or private sale with the right of
SURETY MANAGERS, INC. to be the purchaser at an~ such saZe, and the
said Gra.ntor(s) (do, does) hereby authorize an~ attorney at law to appear
in any court of record in the State of California or elsewhere in the
United States and waive the issuing and service of process and confess
a judgment against (him, her, them) (and each of them, ~ointl~ and
severally~ in favor of SURETY MANAGERS, INC., its successors or assigns
for foreclosure of this mortgage, for a moneg ~udgment in the amount of
)s
together with a1 1 costs of suit and thereupon to release a 1 errors an
to waive all right of appeal; and the said Grantor(s~ shall be gersonally ~
liable (jointl~ and severally), for t~e full amount of said judgment as ~
well as for ang deficiency after application thereto of the proceeds of
sale of the above described premises. Provided, however, that if the
said Grantor(s) shall pay or cause to be paid to SUR~TY MANAGERS, INC.,
its successors or assigns, the sum of
)s
as collateral securit~*, in lieu of the above descriQed premise9,
j together with interest at the rate of Six Percent (b~) per annum on
~ such amount fro~ the date o~ these presents, which interest shall be
~ deemed additional collateral securit~, or in the event that the said
written contract sh all be terminated and all premiums due SURE`1'Y
i~iANAGERS, INC. or to any insuring or reinsuring companies shall have
then been paid in full, and tne said SURETY lu.Ai1AGERS, INC. , its
~ successors or ass~~ns, shall haqe been fully indemnified for all liabil-
it~, loss, costs, damages, attorneys~ fees and expenses arising under
and b~ virtue e~' said zaritten contract, then, in e?ther event, this
nortgage shall be void. Provided, furtber, that if an~ provision of
this mortgage oB the application thereof to any person or circumstances
is held invalid, such invalidity shall not affect other provisions of
this mortgage which can be given effect without the invalid prov?sion
or application, and to this end the provisions of this mortgage are
dec?ared to be severable. ~
~ An~ word *.~rerever used in this mortgage, either severally or conjunc-
tively, shalZ be construed in the plural where the equitable inter-
~ pretation of the Agreement so requ~res, and the necessar~ grammatical
- changes to ma'~e the provisions hereof appZy e~ther in the sin~ular or =
in the plural shall in all cases be assumed as though in each case '
~ fully expressed. t
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