HomeMy WebLinkAbout1367 c . ~ . ~ , .~~.~•i . . . . ~ o
~i::~ ~c~m~ n~., clc.c it:~.cl nc_Cc . i,/ or rt}~p~ o~~~ i,i t:c. tiy t•4arL-~,r~~,~ e to r...i.~Zb].i..h ~~t~c1
n~ai.»i.~.i n th~~ ~~.zl~l.c~i. Lti? ~+ncl prio~•:i L5? of Ll~r. rc~curt. ~y ~.»Lci•csL- oi' 1•~ort~;.~l;~.e,
oi• :~ny r:~ociif:ic~.~i.io~l Lh<:i•r-oi', ._ncl zll co~i.~; and erpen,es of nt~;t settretie:c
rc~::,at~lUly rcnu9i•ed b;f ;'~z•tr~t;cc. ?~'or~t:~;;cc: m1y cxci•cise any oi~ nll ~f ~
~
Lhc rrz;:caic•;: of <e 5CC1lt~rc~ p.z2•ty ,::?~~1~U]_c~ to i~ u»dcl• the th~ii'~rm Ccz,:.r.:cr- ;
ci~sl C~clc i•riLh ~•c:pect i:c~ stich ~~cruo:~al a~,i•opcrty, at~d it is exure ~s1y ~ ~
~~recd thwt if unon Gc~f: tilt t•:oi•t:.,:~L,ce sl~ot~lcl pl ocecci to di^pose of thc ~ ~
colx~zLer:i1 ~^_ccoz:c~ nc~ ::ith ~'le provi.sion~ of the Uniform Go; w,~erci~l
s
Codc, i:en (1Q) days' na;.icc Uy ,'~rL~~~ec ~;o :Sort~a~or sh~ll, bc deem~d ;
to be reason^b.le notic~ u:~cier ~ t~y provision of the Unifor:~ Co:~^:erci~l ~
_
Code requii•ir.~ such noti ce; provid ~~d, ho~:evcr, that 1•:ort~u~ce :~:~y aL- iL•s ;
opi:ion di: ~ose of i:hc co1? ~ ~ci•: 1 in accord~:~ice ~•~i.th t~'ort~u~cc' s ri~ht~ ~
and 2•cr.;cdics in respec~; of the i•e~ proper;;y pursu~nt 40 ~;hc pi~ovisio?~s ~
of thi ; i.ori:~~ ~e, in la.eu oi' proceedin~ undcr the Uniform Cor.?::~c~rcial Code. f
~ i
(24) T1iE COV~:t~S.i:iS herein con~aii~ed shall bind, and ~:he bencfit ~ ;
and adv~ nt~ E,e~ s1i^11 i~u~-e to, t::E: resnecLive heirs, executors, adr~ini.a--
trator succes:;oi•s ~:~c3 ;.s~i~ns o~ ~.he p~.r~~.es hereto. jTY1Ci~CVC?^ uscd,
tne si.:~;~zZ~r ~:~??.:~~er ~n:_11 ircl;:ce ~he pli;r.:l, the pa.ura.l ~he sii~~ul~r,
~nd >>s~ of ar.;~ ~Qnc:~r s!:~11 bc ~pplicc_,~1~ to al1 ,r~,enders. The tnrhr~
"::or~.~:::~;~^" ~:~a11 ~lso incl~;ie ~ny la:~:~ul o::~1er, holder or plec:~ee of
~i~y ?t-!C1c:iJ~ecir:~.;~s~ securcd h~reny. .
(25) When the right to foreclose the I?Sortgage exists, Mortgagor
shall surrender to Mortgagee possession of the mortgaqed property or any
part thereof and Mortgagee may enter upon and take possession of all or
any part of the mortgaged property, together with all documents, books,
records, papers and accounts of Mortgagor or then owner of the premises
relating thereto and may, as agent of I?i~rtgagor or in its own name, operate,
manage and control the mortqaqed property and conduct the business, if any,_
thereof, either personally or b~? its agents, and with full power to use such
measures, legal or equitable, as in its discretion may be deemed proper or
necessary to enforce the payment or security of the rents, issues and profits
of the m~rtgaged property, hereby granting full power and authority to exer-
cise each and every of the rights, privileges and powers herein granted at
any and all times hereafter, without notice to Mortgagor, to cancel any
lease or agreement subordinate to the lien hereof and to make all necessary ~
or proper repairs. Shoulc? ?ior~gagee incur any liability, loss or damage,
under any lease hereby assigned or under or by reason of the assignment
thereof, or in the defense of any claims or demands, the amount thereof,
including costs, expenses and reasona5le attorneys' fees, shall be secured ~
hereby, and Mortgagor shall reimburse ~iortgagee therefor immediately upon ~
demand . . ~
(26) Mortgagor shall not avail itself of any laws now existing
or hereafter enacted in order to prevent or hinder the enforcement or
foreclosure of this riortgage, and, to the extent permitted, hereby waives
the~benefit of such laws. riortgagor waives any and all right to have the
Property marshalled upon any foreclosure of the lien hereof and agrees
that any court having jurisdiction to foreclose such lien may order the
~ Property sold as an entirety. Mortgagor hereby waives all rights of re-
; demption from sale under any order or decree of foreclosure. ;
~ ,
~ (27) If a11 installments of the Note and interest be paid when due
` and the agreem~nts herein mentioned be faithfully performed and nothing is
~ owing under the provisions of this tiiortgage, then this conveyance ceases
~ and becomes null and void, and release or satisfaction thereof will be made
; at the cost of ~iortgagor; but in case of the non-paym,ent of any installment, '
~ or any part thereo€, at the time the same becomes due, or ?n case of failure
to perform an;? of the cov~nants of the Note or this I•iortgage, then and in such
evcnt the debt h~reby sec~:red shall, at the option of A2ortgagee become imme-
diately due and payable ~•rithout notice.
€ ~
~ ~
s =
t
,
;
;
5
~ _
;
60~rnc ~1~ ~~G~ ~e)!7~
~
-
7
~ ' - . - . _ _ _ _ _ _ . . _ . .
t. . ~.x ~ ,
Fe~+M
f-
_ ~ ~
~ ~ _ _ ~ ` ~ "
;--~~...._~__~c ~