HomeMy WebLinkAbout1366 s~,curc~~i hc:rcl~~• ::h~i.1.1 h~ivc i:hc: .^.tt11lG p~:~~cr ~ r~.. :~l•c hcrcb,y confcrrc~cl o~~ i:lu:
i~o7.der o~' i;he i.»ciebl.ecln~~:~:~ to pl•oc~cect ~•r-ith i'~rc~et~: u~•e: ot~ ti m:~l:~~re~d it~-
;i;1~~.1t1CIlI: oi• in;t:illmcu;:::, ~incl ~lt:.a Lo sell. L}~c~ ~z•op~~rt,y hcrc:in ~,~~rL1~,:~t;~~d;
bu1; if ~Ln z.°.~a.r;»ca i'orccl.c~: c~ or c~zu ~e , t~ :,.ilc i:o be ~~ruie Lo suti ^i',y nn,y
i.~ist~ill.j:,~n1:, p1rt; of an :i i~rtr~llmcnL, or instr~~.lz:~cni:s, i:l~en ~iich i'o2•ec1o--
~~ire or saJ.e :~h~el]. be mud~ .ub~~cct. to thc~ un:n.~t-ured ~~rL of Lhe noi:e und ~
i;he deUt~: ecurcd hci•eby o:•mecl vy 1;he l~olcler o~ ~:tle inclcbi:edness ~~t the `
tiMe or ns~it,ncd ~uL~sequct~L to Lhe assi~n~;icnt of L11e ~.tcm 1:o saL~sfy ~•~hich ;
Lhe s~lc i~ bein~ 1,~ade. ~
(~0) I~:4RTG!`.GOR FI~P.:?~'I zssif;ns and ~led~;cs to t•sorL~l~ee, as ~.ddi--
tional ~~curity fo2• i:he p~ yi:ent o~ i.ndebtedne~s secured by this t-:orL~~~~e, ~
~ny Atl(I ~11 ren~s Otl thc pr~r:ises covcrcd hcreby; and i•:ortUZCor ati~hor~zes ~
the i, or~~,1 ;ee to t~ '~ce po ~.ession of the premi. cs at any time therc ~h~ll `
be any dc~ zul~ in the pay:~cnt. of the indebL•ec3ncss hereby securcd or in ;
~:he perfor:.^.uncc of any ob]_i~ ~tion herein cont~zined, and f;o rent ~he• s~ me j
for the zecoun~ of the ?•'ortn~.~or, ~iI1CI to Ceduct fror~ such rents ~.11 cos:;s ~
of collcc~ion 4nd ~ d~ra.nz::tr~ i;ion, ~r~d to ~ pply the rei:~~ inder of such rents i
on the il~deh~cciness l~erc:b~ seeurec~. It is further ~~rced ~:ha.~ the ::ort- ~
~a~,ee, in an;~ ~ etion to foreclosc, sh111 be enti~;led to Lhe ~ppointr~.en~; ~
of a Rec~iver oi' i;}~e ren~:~ ~ nd prof:~i:s o; the prer~ises covered hei~eby I
as a m~ t~er of right ar.d ~ti~ou~ r.otice; :•:i~:h po:~:er to collect the ren~s,
issues und profa.ts of sa~ d pre::~ises dtie and cor~in~ due durin~ ~:he per.dency
of such f'oi•eclosure sui~;, :~~ithout rE~;ard to the value of the prer:tises
ai• i;he so2vency oi' ~:ny pe~~son o~• persons li~.ble for the p~;lr~ent of the .
indeb~:.edness involvcd in saa.d suit. i•:ort ~G~or, for ~het:tsclves and any ;
subsequen+.: o:•:?:cr, rer~by :•~aives any and ~3l defenses to ~;he applicw~ion ~
for a Receiver as above provided, and hereby snecific~lly consents to
such appoint?,:ent i:i~;hout notice; bu~ nothi»~ hcrein contzined is to: be
constru~ci to de~rive the 1•iort~a~ee of any other ri~h1:, remedy or privi-
le~e it may no~•~ have under the la~•r to h~.ve a I3eceiver appointed . The ~
provision for the appoin~~~~nt of a Receiver of the rents and profi~s ~.nd ;
the assi~n::~~nt o~ such rents a_nd profits is ma.de an eypi•ess co?ldi~:ion ~
upon s•~hich the loan here~y~ secured i~ ~:ade . t
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(21~ TO THE ~XT~;~T ~:hat procee~3s of the Note ~.re used to pay any ~
otttstanclin~ lien, char~;~ or prior enewr~brailce ~gainst ~he herein-ciescribed ;
premises, such proceeds have been advanced 'o f i-.ort~a~ee at 3~ort~a~or ~ s '
request; ~ nd ?-':or1:~a~ee shall Ue subroUa ~ed 4o an~ ~nd a? 1 ri~hts and liens
owned or ~ranted b5~ any o:•~ner or holder of such ou~sta.ndin~ liens, ch~r~;es
anc~ prior encur~?brutices, irrespective of ~~hether said liens, char~es. or
encumbrances ~re released of record. ~
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(22 ) 1d0 t~1AIZ~R or any def
ault on the p~rt of rSort~agor or breach '
of any o~ the pro~risions of th_is 2~:or;;~a~e shall be considered a v~ai~er ~
of any other or subsequcnt ciefault or breach, ar.d no delay or o:~~ission ~
in exercisi_n~ or en°orcin~ the ri~;nts a.r.d pot•~er~ herein ~ran~ed sh~ll
be construeu a i•~aiver oi such ri~hts and pe:•:e,•s, ~nd likewise no ex-
ercise or enfcrcer::ent oi ~ny ri~;hts or po:•~ers hereund: r shall be held
to exhaust sucn ri~n;;s and po::ers, and eve2•y such x•i~ht and po~•~er may
Ue exercised ~ro*~ ti^~~e t~o L-ime.
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(23) 1•lI1`'ri ?ES~I'sC`" `i'O tl:c pcrsonal pro~crtv hereir~~Uove de~cribed, ~
; ~:his 1•~oi•~;;~~e shh~l co::;;;~.tute a secui•it~,< <.~i-ce:^~nt bct:~r~~n :'ort;~~;or
E ana ;:ar..~,~_~,ee, ~ nc? cu:: ::~_~:t~ve of ~ 11 otncr ri;
;~~ts o~ i•:or;;~: ~ee t:ere _:nder,
~ 2'.orfi.E;^r,e~ 11 i:~•,re ~ 11 0~ the ri~,hts co:~f~rr~°d upon vecu2•ed p~ rtics
` by t!~t~ t.~n~.for~^ Co::~:~:ei•ci^~ Cocie. ~'o2•t~~~~or ~ r;rce ; to e~ecu~e one or r.:oi•e
f1tZ:.anc;_n:; ::t~ ~c:~~n~s cc~!cri::? suc:: pcr::on~l :~ro:;crty, in t;he ::?•~t~r:cr ~ nd
i'C11'f.l l'('(:'_11_~'~~G :1 j'. ~ i::•1 ~1t"t(i r0 ~:~lC'. ::c,t:i ~i::C v1011 Oi i:02'1;~'^t;^C . i~0Y'`i,~',c^.(;O1' ;
il[;ree:~ ~n ri~:~ ;•~OJ'~:~;~_~ F~~ ~ ; C~::'.?'~,C ~ 1;0 t}1C •.•':v1.I'1'.li : ~2:::Otlt21; ~~CY'I':j.~,;1.i:f~ ~~,J ~ ~
102' i'?~'/ ~•1~3:.....'ni:i• v~! i'.U7'i,: ~!fft'!: ?'lf;"cI'~1C~f; ~}:L U!Jl. ~:i,:.ni~:i :.LC:lI~CC~ t7V i:~:l:
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