HomeMy WebLinkAbout2630 prospectively operate to invalidate this Mortga~e, in whole or
in part, then, such clauses and provisions only shall be held
for nought, as though not herein contained, and the re~ainder
of this Mortgage shall re~ain operative and in full force and
effect.
23. Wai~~er.
Mortgagor shall not avail itself of any laws now exist-
ing or hereafter enacted in order to prevent or hinder the
enforcement or foreclosure of the Mortgage, and, to the ex-
tent permitted, hereby ~aaives Che benefit of such laws. Mort-
gagor waives any and all right to have the Property marshallecl
upon any foreclosure of the lien hereof and agrees that any
court having ~urisdiction to foreclose suc:~ lien may order the
Property sold as an entirety. Mortgagor hereby waives a11
rights of redemption from sale under any order or decree of
foreclosure.
No delay or omission by the Mortg:~gee in the exercise '
of any right or remedy accruing upon any default or in the i
doing of any of the matters and things by it permitted to be ~
- done under rhe terras and provisions of this Mortgage and the '
Note shall impair any such right or remedy, nor be construed
to be a waiver of any such default or acquiescence therein,
nor shall it affect any subsequent default of the same or a
different nature and every such right or remedy ma~• be exer-
- cised fram time to time and as often as it is deemed expedient
by the Mortgagee.
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24. Ap~lication of Uniform Commercial Code. a
The Mortgage shall be deemed a security agreement in
support of any Financing Statement ~,~hich may hereafter be #
executed and filed with respect to any class of items in- ~
stalled in or used on the Property, and Mortgagor shall exe- ,
cute any financing statements (or rene~•~als thereof) reqaired
t~nder the Uniform Commercial Code promptly npon request there-
for by Mortgagee. In the event of a default in this Mortgage
or the Note, Mortgagee may assert any remedy accorded under the -
Uniform Commercial Code si~?ultaneously with any action brought
or any remedy enforced hereunder.
25. Change of Ot:•nership.
If conveyance shall be made by Mortgagor of the Property
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or any part of it without the written consent of the Mortgagee +
and ~aithaut assumption in regular form of la~a by tl~e grantee
of the obligation to rhe rlorCgagee created under tt~is Piort-
gage or if there is any change in the control of the Mortgagor
or in the ownership of the co~mon stock of tlie Piortgagor, '
then, and upon the occurrence of an~~ such event the whole of j
the principal sum hereb}~ secured shall, at once, at the optio;~ ~
of the Mortgagee, become it~ediately due and payable, to- .
gether witl~ accrued interest thereon, without notice or demand
which are hereby expressly ~,aived. ~
26. Deal_in caitl~ New Owner of Property. ~
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In the event the ownership of the Propert} or any part !
of it becomes vested in a person other than tlie Mortgagor, '
the Mortgagee, without notice to the ;Sortgagor, may deal with
the successor or successors in interest with referen~e to this -
Mortga~e and the debt secured in the sar.^.e manner as with the
I~lortga~or and c~ay forebear to sue or may extend time for pay-
ment of the debt secured, without dischargin~; or in any way
affecting the liability of the Mortgagor under this Tiortgage
or upan the debt secured. #
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