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HomeMy WebLinkAbout2864 . ~ . 21 all or any p: . t of the Indebtedness shall be relieved of such obligation bq reason of the failure of biortgagee to comply with any request of Mortgagor ~ - or of any other person so obligated to take action to foreclose on this Mort- gage or otherwise enforce any provisions of the Security Documents vr the Note, or by reason of the release, regardless of consideration, of all or any part of the security held for the Indebtedness, or by reason of any agree- ment or stipulation between any subsequent owner of the Mortgaged Prop- erty and i4iortgagee extending the time of payment or modifying the terms of the Security Documents or 1~'ote v~7thout first having obtained the consent of Mortgagor or such other person; and in the latter event Mort- gagor and all such other persons shall continue to be liable to make payment according to the terms of any such extension or modification agreement, unless expressly released and discharged in writing by Mortgagee. ~ 7.6 RELEASE OF COLLATERAL, EFFECT ON SUBORDINATE LIEN&. Mortgagee may reIease, regardless of consideration, any part of the security held for the Indebtedness or Obligations ~vithout, as to the remainder of the security, in any way impairing or affecting the liens of the Securily Documents or their priority over any subordinate lien. The holder of any subordinate lien by the acceptance of such subordinate lien agrees to be bound by the terms of this section 7.6. ~T.7. OTHER COLLATERAL. FOY' ~13}'ITl82lt of the Indebtedness, Mort- gagee may resort to any other security therefor, if any, held by Mortgagee in such order and manner as hiortgagee may elect tivithout affecting its remedies under this 111ortgage, to the maximum extent permitted by the la~vs of the state in which the 141ortgaged Property is situated. 7.8 `VAIVER OF REDEMPTION, NOTICE, MARSHALLING, ETC. MOLt- gagor hereby waives and releases, to the maximum extent permitted by the la~cs of the state in which the l~iortgaged Property is situated: ( a) all benefit that might accrue to Mortgagor by virtue of any present or future law exempting the Mortgaged Property, or any part of the proceeds arising from any sale thereof, from attach- ment, levy or sale on execution, or providing for any appraise- ment, valuadon, stay of execution, exemption from civil process, redemption or extension of time for payment, and ~ g~;~ 208 ~~~8~ y~ . _ ~ g~ ~ ' _ ~ ' ~ ~ z ° : - RK'4u~'~Y~ ~ _ ~ ~a~'~ ~Y~.~'~~~`_~o-~Jd'.~~` i~~d„c~~~ F ~ _ . ±~~i":S'~~~z~