HomeMy WebLinkAbout0295 any transfer by private sale or settlement in lieu thereof) . either temporarily
or permanently, the entire indebtedness secured hereby shall at the option
of ihe Iviortgagee, become immediately due and payable. The Mortgagze
shall be entitled to all compensation. awards, and other payments or
relief therefor and is hereby authorized, at its option, to commence,
appear in, prosecute and appeal, in its own or the ?14ortgagor's name, any
aciion or proceeding relating to any condemnation, and to settle or
compromise any claim in connection therewith . All such compensation,
awards, damages, claims, rights of action and proceeds and the rights
~ thereto are hereby assigned by the Ufortgagor to the Mortgagee, who, after
deducting therefrom all its expenses, including reasonable attorneys' fees,
may release any moneys so received by it without affecting the lien of
this Mortgage, or may apply the same in such manner as the ~rlortgagee
shall determine to the reduction of the sur?.1s secured hereby, and any
balance of such moneys then remaining shall be paid to the Mortqagor.
The t~~iortgagor agrees to execute such further assignments of any compen-
sations, awards, damages, claims, rights of action and proceeds as the ;
:~9ortgagee may require .
Title to the Collateral , i.~fortgagor has title to the Collateral
and the Collater3l shall be kept on the above described real property.
i~~ortgagor is and will be the owner of the Collateral free and clear from
any lien, security interest or encumbrance, except such chattel financing as
~9ortgagee may approve in writing prior to the creation of the lien or the
giving of tl~e security interest affecting such chattel or prior to the
acquisition of the Collateral subject to a purchase money security interest;
and except any lians securing the payment of the afore~nentione~3 pru~nisso~ y
note . No financing state~nent covering any of the Collateral is on file in
any public office. Alortgagor will from time to time at the request of
:.;ortgage~ execute one or more financing statements and such other
documants (and pay the costs of filing oi- recording the sar:le in all public
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eoox 210 vaGE 295
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