HomeMy WebLinkAbout0265 ~
thereof, prior to any sale or sales thereof, which may be made
pursuant to any provision herein, or pursuant to the decrea,
judgment or order of any court of competent jurisdiction; nor ~
• afttr any such sale or sales, clatm or exercise any right under
any stabute heretofore or hereafter enacted, by an~r Governmental
Authority or otherwise, to e^edeem the property so sold or any part
thereof; and the Mortgagor hereby expressly waives ali benefit
or advantage of any such law or laws, and covenants not to hinder,
~ s
delay bw irnped~-the executiomof any-power herzin granted or
delegated to the Mortgagee, but to suffier and permit the exccution ?
of every power as though no such law or laws had been made or
enacted. The Mortgagor, for itself and all who claim under it,
waives, to the extent that it lawfully may, ail right to have the ~
Mortgag~d Property marshaled upon any foreclosure hereof. ~
_ #
29. To the extent of the indebtedness of the Mortgagor to ~
the Mortgagee described herein or secured hereby, the Mortgagee ~
~
:
is hcreby subrogated to the lien or liens and to the rights of ifie
owners and holders thereof of each and every mortgage, lien or
other encumbrance on ifie land described herein which is paid
;
and/or satisfied, in whole or in part, out of the procaeds of ti~e :
i
loan described her^ein or secured hcreby, and the respcctivc liens ;
2
of said mortgag~s, liens or encumbrances, shall be and the same and ~
~
,
each of them hereby preserved and shall pass to and be held by the ~
. 3
i
~
Mortgagee herein as security for the indebtedness to the Mortgagee ~
herein described or hereby secured, to the same extent that it
would have been preserved and would have been passed to and been
held by the Mortgagee had it been duly and regularly assigned,
fransferred, set over and delivered unto the Mortgagee by separate
deed of assignment, notwithstanding the fact that the same may be
satisfied and cancetled of record, it being the intention of the ~
~
f
~
-20- ;
~
3
3
{
_ i
4
~2'i8
3
y ~ 7~ ~
~
~~,,.~,r-~~~,~,_ _ ~ ~'t~-
- _ zY .~r-~ ~'a',~-.~,,