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HomeMy WebLinkAbout2626 ~ the Note, but in no event higher than the maximum interest rate permitted by law. 10. Costs of Callection, Mortgafior shall pay ta the Mortgagee promptly upon demand all costs, expenses and attorney's fees, including the cost of any title examination, supplemental abstract of title or title insur- . ance, that may be incurred by the Mort~agee in any proceed- ings (including, without limitation, condemnation proceed- ings, proceedings involving tlie foreclosure of liens or en- cumbrances, the enforcement or interpretation of contracts, leases or other documents, or any other proceedings of any nature), legal or otherwise, affecting the Property, or any part thereof, or the title thereto, or the validity or prior- ity of this Mortgage, or that may be incurred by the Mortgagee by reason of the failure of the Mortgagor to keep and per- form any of the co~~enants or agreements contained herein or . in the Note. All such costs, expenses and attorneys' fees paid by the Mortgagee shall bear interest from the date of payment thereof at the rate of 2% per annum higher than that specified in ttie Note (but in no event higher than the maximum interest rate allowed by law) until repaid by thc Mortgagor and shall, with such interest, be a part of the debt secured by this Mortgage. ~ 11. Operating Statements. Mortgagor shall furnish, upon request, annual operating statements of income and expenses relating to the Property in such form and in such detail as may reasonably be required by the Mortgagee. - 12. Acceleration. If (a) default be made for fifteen (15) days in the due and punctual payment of the rote or any installment due there- under or in the payment of any sum of money-due and payable under the Note or this Mortgage; or (b) Mortgagor shall file a petition in voluntary banl:ruptcy or under any bankruptcy act or similar law, state or federal, whether now or here- after existing, or an answer admitting insolvency or inabilit} j to pay its debts, or fail to obtain a vacation or stay of ~ involuntary proceedings within fifteen (15) days, as herein- ! after provided; or (c) Ziortgagor stiall be adjudicated a bank- ~ rupt, or a trustee or a receiver shall be appointed for Mort- ~ gagor or for all of its property or the major part thereof ~ in any involuntarti• proceeding, or any court shall have taken ~ jur~sdiction of all or any part of the property of tiortgagor in any involuntarS~ proceeding for the reorganization, disso- lution or liquidation of Mortgagor, and such trustee or re- ceiver shall not be discharged or such 3Urisdiction relin- quished or vacated or stayed on appeal or otherwise stayed within fifteen (15) days; or (d) ;tortgagor shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they be- come due, or shall consent to the appointment of a re~eiver or trustee or liquidator of all of its property or the major part thereof; or (e) default shall be made in the due obser- vance or performance of sny other of the covenants, agree- ~ ments or conditions heretofore or hereafter contained, re- i quired to be kept or performed or observed by i~tort~agor in • this riortgage, the Note, the Agreement or any other instru~aent ~ executed concurrently with or in connection w.ith this 1•iort- ~ ~ gage, and the sar.:e shall not be cured within t~aenty (20) days after notice thereof, then and upon the occurrence of ai~y ~ such events tlie whole of the principal sum hereby secured ~ shall, at once, at the option of riortgagee, become imme- ~ ~ _ - 6 - BOOK ~rQV PAGE~U(.?~r ~ ~ _ _ ~ _ ~,..s. x~ ~ ~ . t; ~ . j8~,~~ ' ~Y , ~ - _ _ . s•~ . _