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HomeMy WebLinkAbout2627 diately due and payable, together with accrued 3nterest thereon, without notice or demand which are hereby expressly waived. 13. Foreclosure. When the Note or any indebtedness secured hereby, or any part thereaf, shall become due, whether by acceleration or otherwise, Mortgagee shall have the right to foreclose the lien hereof for such indebtedness or part thereof. The Mort- gagee may, aC its option, foreclose only as to any sum past due without accelerating the entire debt, and without injury to this Mortgage or the displacement or impairment of the ~ remainder of the lien hereof, and at such foreclosure sale the Property shall be sold sub~ect to all remaining items of indebtedness payable under this Mortgage and the Note, and the Mortgagee may again foreclose in the same manner as often as there may be any sum past due. In any suit to foreclose the lien hereof, there shall be allowed and included as addi- ; tional indebtedness in the decree for sale all costs, fees and ~ expenses described in paragraph 10 hereof which may be paid or incurred by or on behalf of Mortgagee to prosecute such ~ suit, and such other costs and fees as shall be necessary, 3 appraisers' fees, outlays for documenrary and expert evi- ` dence, stenographers' charges, publication costs, accounting # fees, brokerage commissions and other related costs and fees. 14. Application of Proceeds. The proceeds of any foreclosure sale of the Property shall be distributed and applied in the following order or priority: First, on account of all costs and expenses incident to the foreclosure proceedings, including all such items as are men- tioned in the preceding paragraph hereof; second, all other ~ items which, under the terms hereof, constitute secured in- ~ debtedness additional to that evidenced by the Note, with ~ interest tiiereon as herein provided; third, all principal and ` interest remaining unpaid on the hote; fourth, any overplus to Mortgagor. 15. Appointment of Receiver. At, or any time after, the filing of a complaint to fore- close the ~:ortgage, the court in which such complaint is filed ~ ; may appoint a receiver of the Property. Such appointment : ! may be made either before or after sale, without notice, ' ~ ~ without regard to the solvency or insolvency of Mortgagor } ~ at the time of application for such receiver and without re- ~ ~ gard to the then value of the Property, and riortgagee may be ~ ~ appolnted receiver. Such receiver shall have power to collect the rents, issues and profits of the Property during the pen- ~ dency of sucli foreclosure suit and during any statutory ~ period of redemption, and all other powers which may be neces- ~ sary for the protection, possession, control, management and t operation of the Property during said period. The court from ~ ~ time to time tnay authorize the receiver to apply the net income in i his hands in payment in whole or in paFt of: (a) the indebted- ~ ness secured hereby, or by any decree foreclosing the Mort- ` : ~ gage, or any tax, special assessment or other lien which may ~ be or become superior to the lien hereof or of such decree, ~ ~ provided such application is made prior to foreclosure sale; £ ~ (b) the deficiency in case of a sale and deficiency. s ; ~ 3 ~ 16. Assignnent of Rents. ; ~ r ~ 4 To further secure the indebtedness secured hereby, Mort- ` ~ : ~ gagor does hereby sell, assign and transfer unto Mortgagee ; all the rents, issues_ and profits now due and whicl~ may here- ~ ~ ~ ~ ~ - 7 - ~ 600K ~06 ~Gf ~ ~ ~ ; : _ . . . . _ __--j__, - . ~ ~ ~ ~ .F~,~ ~~'~4.~~.>~ , _ ,y . _ ~ ; _ .