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HomeMy WebLinkAbout0013 for the valuation or appraisal of the mortgaged property, or any part thereof, prior to any sale or sales thereof which may be made pursuant to any provision herein, or pursuant to the decree, judg- ment or order of any court of campetent jurisdiction; nor, after any such sale or sales, claim or exercise any right under any statute heretofore or hereafter enacted by any ~vernme~tal authority, or otherwise, to redeem the property so sold or any part thereof; and Mortgagor hereby expreasly waives all benefit or advantage of any such law or laws, and covena~ts not to hinder, delay or impede the execution of any power herein granted or delgated to Mortgegee, but to suffer and permit the execution of every pawer as though no such law or laws had been made or enacted. Mortgagor, for itself and all who claim under it, waives, to the extent that it lawfully may, all right to have the mortgaged property marshaZed upon any foreclosure hereof. Section 2.03. During the continuance of any such Event of Default, Mortgagee personally, or by its agents or attorneys, may enter into and upon all or any part of the Premises, and each and every part thereof, and may exc2ude Mortgagor, its agents and servants wholly therefran; and having and holding the same mey use, operate, manage and control the mortgaged property; and Mortgagee shall be entitled to collect and receive a11 earnings, revenues, rents, issues, profits and incame of the mortgaged property and every part thereof, all of which shall for a1Z purposes conatitute property of Mortgagor; and after deductin g the expenses of conducting the business thereof, if a business is maintained on the mo rtgaged prop- erty, and of all ma~ntenance, repairs, re~ewals, replacements, alterations, additions, betterments and improvements and amounts necessary to pay for taxes, assessments, insurance and prior or other proper chargas upon the mortgaged property or any part thereof, as well as just and reasonable compensation for the services of Mort- gagee and for all attorneys, counsel, agents, clerks, servants and other employees bq it properly engaged and ezapZoyed, Mortgagee shall app~y the monies arising as aforesaid, first, to the payment of the principal of the Note secured hereby, and the interest thereon, when and as the same ahall becvme payable and second, to the payment of any other auns required to be paid by Mortgagor under this Mortgage. Section 2.04. In case of proceedings by or against Mort- gagor in insolvency or bankruptcy or any proceedings for its reorgani- f zation or involving the liquidation of its aesets, then and in such case, Mortgagee ahall be entitled to prove in said proceedings the ` entire unpaid amount of principal and interest due upon the Note ; secured hereby to the full amount thereof, and all other payments, s charges and coata due under thia Mortgage, without deducting there- = from any proceeda obtained from the sale of the whole or any part ; of the mortgaged property, provided, hawever, that in no case shall ' Mortgagee receive a greater amovnt than such unpaid principal and ~ interest and such other paymenta, charges and costs from the aggre- ; gage amount of the proceeds of the sale of the mortgaged property and ~ the distribution from the estate of Mortgagor. Section 2.05. Ztiat Mortgagee shall have the right from time to time to take action to recover any sums, whether interest, r ~ _ ~ ~ -13- ~ x ~ ~~~i~ ~ 21~ t:~~~ ~'9 ~ - _ WILl1AMS. SALOMON, KANNER 6 DAMIAN, ATTORNEVS AT LAW, ouPONT BU1LOtNG, M7AMl, iLbR1DA i - z a r ` ~ ~ r' ~ . . . _ . . . : . . .