The URL can be used to link to this page

Home My WebLink About0238 , r~:± '1~ 5 ~j~"; 329 r t,RDJ Th~ undersigned f~irther a~cee~ ta assiRn and tr^nsfer to the r.~rtgaAee 1.11 !~~:tur~ leases upon all or any part of the sbove described prenises and to e~cecute a.^.:t deliver, imnediately upon the request of the mortga~e, all such f~~rther assurances ..a :.,,...,.s.,« {r ~hp „r~nisea as the mort~s~ee shall from t3rae to ti~e require. , Although it is the intention af the ~artie~ that this assigrzment o£ rents shall be a pres~nt assignment, it is Pxpressly understood and agreed, anything here3n contained to the contrsry notaithst~nding, that the mortp,a~ee shall not exer- cisz any of the ri~hts 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 d~scribed mortgage or in the performance or observance of any of the conditions or ~gre~nents of any instrument now or at any time securing said note or the debt secured or evidenced thereby or by any extension thereof and nothing herein cantained snall be de~ed to effect or impair any righ~~ ~'hich the ~aortgag~a may ha~.*e unwer said note and mortga~e or an~r other instnunent herein m~ntioned. 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 piincipal sum secured thereby is declared to be immediately due, 3 or Whether before or af ter institution of legal proceedings to foreclose the lien thereof or before or after sale thereunder, forthwith, upon d~nand af th~ t~ortgsge~, the undersigned agrees to surrender to the mortgagee and the mortgagee shall be entitled to take actual possession of the premises or any part thereof personally, or by its agents oY attorneys, and mortgagee in its discretion may, with or without force and with ox Without process of las+, enter upon and take and maintain possession of all or any part of said pre~nises, to~etheY vi.th all the documents, books, tecords, papers and accounts of the undersigned or then owner of the premises relating there- to, and may exclude the undersigned, its a~ents or servants, Wholly therefrom and maq as attorney in fact or aRent of the mortgagor, or in its oWn name as mortgagee and under the poWers herein granted, hold, operate, manage and control the pre~nises and conduct the business, if any, thereof either personally or by its agents, with full power to use such measures, legal or equitable, as in its discretion or in the discretion of its successors or assigns may be deemed proper or necessary to enfarce j the payment of security of the avails, rents, issues, and profits of the premises, 3 including actions for the recovery of rent, actions in forceable detainer and acti.ons in distress or rent, thereby ~ranting full poWer and authoritq t.~ exeLcise each and everq of the rights, privileges and powers herein granted at any and all times here- j after, without notice to the undersigned, and with full power to cancel or terntinate g ~ a~y lease or sublease for any cause or on any ground which would entitle undersi~ned j to cancel the same, to elect to disaffirm any lease or sublease made subsequent to the ateresai~ mortga~e or subordinated to the lien thereof, to nake all necessary ~ oc proper repairs, decorating, renewals, replacea?ents, alterations, additions, better- ~ents and izaprovemeats to the above described premises that ~aay seea? judicious, in its discretion, in~ure and reins-ure the saM~ for all risks incidental to mort~a~~e's pos- session, operation and management thereof and to receive all such avails, rents, ~ i .sues and profits. ~ ~ The mortgagee shall not be obligated to perforc~ or dischar~e, nor does ~ it hereby undertake to perform or discharge, any obligation, auty or liability under any lease~ or Yental a~reements relating to said premises, and the undersigned shall and does hereby agree to indemnify and hold the mortgagee harmless of and frrnn any ar.d all liability, loss or damage which it may or might incur under anq leases or ~ ur.der or by reason oF the assigrnnent thereof and of and from any and all claias and demands Whatsoever Which may be asserted against it by reason of anq alleged obliga- ~ tions or undertakings-on its part to perform or discharge any of the terms, covenants or agreements contained in said leases. Should the mortgaRee incur any such liabilfty, - ~ loss or damage, under said leases or und~r or by reason of the assig:anent thereof, or ~ ~ in the defense of any claims or desnands the undersigned agrees to reimburse the mor~- ~ gagee for the amount theteof, including costs, expenses and a reasonable attorney's fee, immediately upon demand. , ~ f Tt?e mortgagee in the exercise of the rights and powers conferre upon it by this assigtmnent of rents shall have full po~aer to use and apply the avails, _ `-~s rents, issues and profits of the premises to the payment of or on account of the fol- ~ : lowing, in such order as the mort~agee may determine: ° ~3 _ } ~~'_r{ iy°z ~4 _2_ ~y ~j 0 R~ Pl11,+ 1..~ ~ $OUK ~ ~ ~ : : . - ~