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HomeMy WebLinkAbout0232 ~ eo~~K ~.~5 • : `i`~; '~:_~.,v~D~ The undersigned further agrees to~assign and transfer to the mortKa~ee 111 future leases upon all or anq part of tha above described prc~nises and to execute znd deliver, immediately upon the request of the mortRa~e, all such further assurances ~ -~.-.,-.m s ?1,,.. f-.~e ?1~n tnnrtnnnns? et~sa? ~ fr~*n r~T.fP tA C'~ll1P t'EAUj.CI~. al\!U AJJ1Y~lhYC~ii. llt L~~C el~~-+..+~+~--~ 't1^n"` " Although it is the intention of the parties that this assigtunent of rents shall be a present nssiornnent, it is expressly understood and agYeed, anythin~ iierein containzd to the contrary notwithstanding, that the mortpagee shall not exer- cise any of the rights and powers conferred upon it herein until and unless a default shall occur in the payment of interest or principal due under the note secured by the above described mortgage or in the performance or observr~nce of any of the conditions or agreements of any instrument now or at anq time securinA said note or the debt secured or evidenced thereby or by any extension thereof and nothinR herein contained shall be deemed to effect or impair any right~s which the mortRagee may have under said note and mortgage or any other instrument herein mentioned. In any case in which under the provisions of the above described mort- gage the mortgagee has a right to institute foreclosure proceedings, whether before or after the entire p=lncipal sum secured therebq is declared to be immediately due, or vhether before or af ter institution of legal proceedings to foreclose the lien thereof or before or after sale thereunder, forthwith, upon de~and of the mortgagee, the undersigned agrees to sarrender to the mortgagee and the mortgagee shall be entitled to take actual possession of the premises or any part thereof personally, or by its agente or attorneys, and mortgagee in its discretion may, with or irlthout force and vith or without proceas of law, enter upon and take and maintain possession o£ all or any part of said prenises, together with all the docua?enta, books, records, - papers and accounts of the undersigned or then owner of the premises relating there- to, and may exclude the undersigned, its agents or serva~ts, wholly therefram and S may as attorneq in fact or agent of the mortgagor, or in its oWn name as mortgagee and under the poWers herein granted, hold, operate, manage and control the pr~ises and conduct the business, if any, thereof either personally or by its agents, siith full power to use such measures, legal or equitable, as in its discretion or in the discretion of its successors or assigns may be deesned proper or necessary to enforce the payment of securitq of the avails, rents, issues, and profits of the pre~sises, including actions for the recovery of rent, actions in forceable detainer and actions in distress or rent, thereby granting full power and authority ~o exercise each and every of the rights, privileges and powers herein granted at any and all tiraes here- after, without notice to the undersigned, and with full power to cancel or tezminate ~ aay lease or sublease for any cause or on any ground which would entitle undersfgned € to ~ancel the same, to elect to dfsaffirm any lease or sublease made subsequent to ~ the aforesaid mortgage or subordinated to the lien thereof, to r~ake all necessaty ~ or proper repairs, decorating, renewals, replacements, alteraeions, additions, better- ~ aents and improvements to the above described premises that may se~nn 3udicious, in its ~ discretion, insure and reinsure the same for all risks incidental to mort~a~ce's pos- ~ session, operation and mana~ement thereof and to receive all such avails, rents, ~ issues and profits. ~ The mortgagee shall not be obligated to perform or discharge, nor does it hereby undertake to perform or discharge, any obligation, duty or liability under any leases or rental agreements relatin~ to said premises, and the undersigned shall and does hereby agree to indemnify and hold the mortgagee harmless of and from any and all liability, loss or damage which it may or might incur under any leases or under or by reason o!' the assig~ent thereof and of and from any and all claims and ~ demands vhatsoever Which may be asserted against it bq reason ot any alleged obliga- tions or undertakings on its part to perform or discharRe any of the terms, covenants ~ or agreea~ents contained in said lesees. Should the mortgagee incur a~r such liability, ~ loss or damage, under said leasea or under or by reason of the assigrnent thereof, or ~ in the defense of any cla~ms or de~aands the undersigned agrees to re3mburse the mort- ~ gagee for the amount thereof, includfng costs, expenses and a reasonable attorney's <f fee, immediately upon demand. ~ The mortgagee in the exercise of the rights and poWers conferred upon ~ it by this assigtm?ent of rents shall have full powcr to use and apply the avails, ~ rents, issues and profits of the pr~ises to the payment of or on account of the fol- ri;: lowing, in such order as the mortgagee may determine: ~v y, ~ ~ ~ ~ -2~ ~ ~ - ~ '~.JF..~IVV ~J~ y ~ " t ~.t11 - h`+ x - . . ' ' . .R.~ 'i~ ~ . ~ , . . . . . . - . ' . _r..`1