HomeMy WebLinkAbout0451 and attorney's fees. Included in this agreement are fees incurred
in appellate courts and fees incurred in connection with the ap-
pointment of receivers and costs incurred in the issuance of writs
of attachment and garnishment, whether before or after judgment.
11. In ~he event any action shall be brought by Mortqagee
to foreclose this martqage or to enforce the pa~ment of any obli-
gation hereby undertaken by Mortgagor to be performed, then the
Mortqaqee may apply to.the court having jurisdiction of such ac-
tion for the appointment of a receiver and the court forthwith
shall appoint a receiver of the property, including the income
`^^"°^~~o f1'~D~ofsAfY1 T~1P__ receivc3r shall have
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all powers which may be vested by the court. The appointment
will be made by the court as an admitted equity and matter of
absolute riqht to the Mortgaqee without reference to the adequacy
• or inadequacy of the value of the property or the solvency or in-
solvency of the Mortgagor or other defendants. All rents, profits,
incomes, issues, and revenues shall be applied by the receiver,
first to the costs of litigation, including the fees of the re-
ceiver, then to the payment of accrued interest, and then to the
payment of principal. The appointment of such receiver shall be
without notice to the Mortgagor or~any other party.
12. if Mortgagor conveys mortqaaes, or in any other
manner encumbers the property above-described without first procur-
in~ the :,«ittsn ~e::~ ~f }h~ Mer*_~a;pp; which consent will
not be unreasonably withheld, then the Mortgagee at its option,
and without notice to the Mortgagor may declare all sum.s of money
secured hereby immediately due and payable. Waiver of the right
to accelerate in the event of any conveyance will not be deemed
a waiver of the right to accelerate in the event of any further
conveyance without the consent of Mortgagee. Mortgagee may,
as a condition to granting its consent to a conveyance of the
property, require the grantee to assume and agree to pay all
sums secured by this mortgage and to perform all obligations
imposed upon the Mortgagor hereby. After consent to such conveyance
and the completion of such conveyance, Mortgagee will be fully
' prote~ted in dealing with the grantee or grantees of the Mortgagor,
without in any way discharqing or affecting the liability of
the Mortgagor or any other person liable hereunder or under the
terms of the note hereby secured, unless such rights are waived
by Mortgagee in writinq, siqned by the Mortgagee.
13. If foreclosure proceedings of any lien or encumbrance
upon the property, whether prior to or subsequent to the lien
of this mortgage, are brought in any court, then the Mortgagee
at its option may accelerate the due date of all sums due. Furth-
ermore, in the event of any bankruptcy, assignment for the benefit
of creditors, or other proceedings under the Zaws for debtor
relief, are brought involving the Mortgagor, Mortgagee similarly
may immediatel.y accelerate the due date of all sums hereunder
and become thereby entitled to pursue all remedies provided hereby
and by law.
14. In the event the property, or any part thereof, shall
be condemned and taken for public use under the power of eminent
domain, or shall be conveyed by the Mortgagor to public authority
under the threaC of exercise of power of eminent domain, Mortgagee
sha12 have the right to demand that all sums awarded on account
of the taking and for severance damages and for special or business
damages, be paid to the Mortgagee to be applied to accrued interest
and to principal, such application to reduce or eliminate, as
appropriate, the final installment or installments secured hereby.
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