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HomeMy WebLinkAbout2541 MTG-1-A-4/23/73 shall be construed to waive any such Event of Default or to constitute acquiescence therein. Every right, power and remedy given to Mortgagee may be exercised from time to time and as often as may be deemed expedient by Mortgagee. 2.15 No Waiver of One Default to Affect Another. No waiver of any Event o De ault hereun er s al exten to or affect any subsequent or any other Event of Default then existing, or impair any rights, powers or remedies consequent thereon. If Mortgagee (a) grants forebearance or an extension of time for the payment of any sums secured hereby; (b) takes other or additional security for the payment thereof; (c) waives or does not exercise any right granted in the Note, this Mortgage or any other instrument securing the Note; (d) releases any part of the Mortgaged Property from the lien of this Mortgage or otherwise changes any of the terms of the Note, this Mortgage or any other instrument securing the Note; (e) consents to the filing of any map, plat or replat of the Land; (f) consents to the granting of any easement on the Land; or (g) makes or consents to any agreement changing the terms of this Mortgage - or subordinating the lien or any charge hereof, no such act - or omission shall release, discharge, modify, change or affect ; the original liability under the Note, this Mortgage or otherwise of Mortgagor, or any subsequent purchaser of the Mortgaged Property or any part thereof or any maker, co-signer, endorser, , surety or guarantor. No such act,or omission shall preclude Mortgagee from exercising any right, power or privilege herein granted or intended to be granted in case of any Event of Default ~ then existing or of any subsequent Event of Default nor, except as otherwise expressly provided in an instrument or instruments - executed by Mortgagee, shall the lien of this Mortgage be altered thereby. In the event of the sale or transfer by operation of law or otherwise of all or any part of the Mortgaged Property, Mortgagee, without notice to any person, firm or corporation, is hereby authorized and empowered to deal with any such vendee or transferee with reference to the Mortgaged Property or the indebtedness secured hereby, or with reference to any of the ~ terms or conditions hereof, as fully and to the same extent as it might deal with the original parties hereto and without ; in any way releasing or discharging any of the liabilities ' or undertakings hereunder. ~ I ~ 2.16 Discontinuance of Proceedin~; Position of , Parties Restored. If Mortgagee s all have proceeded to enforce ~ any right or remedy under this Mortgage by foreclosure, entry or otherwise, and such proceedings shall have been discontinued or abandoned for any reason, or shall have been determined ~ adversely to Mortgagee, then and in every such case Mortgagor and Mortgagee shall be restored to their former positions and rights hereunder, and all rights, powers and remedies of Mortgagee shall continue as if no such proceeding had occurred or had been taken. ~ 2.17 Remedies Cumulative. No right, power or remedy conferred upon or reserved to Mortgagee by the Note, this ~ Mortgage or any Qther instrument securing the Note is exclusive , of any other right, power or remedy, but each and every such ~ ~ right, power and remedy shall be cumulative and concurrent ~ and shall be in addition to any other right, power and remedy : given hereunder or under the Note or any other instrument securing _ the Note, or now or hereafter existing at law-, in equity or ~ by statute. ~ ~ ARTICLE THREE ~ MISCELLANEOUS PROVISIONS ~ ~ 3.01 Heirs, Successors, and Assigns Included in Parties. Whenever one of the parties hereto is named or referred ~ ~ ~ ^15- ~ ~~.`i~"" ~ ~ ~ , - - . ~ ~ . ~~~K , . _ ~