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(1) To the p~+•,r.nent af the operating e.xpenses of said property, including cost
o: r.:anabacaent snd leasing theraof (which shall include reasorable co:apensation to the
,...~..rR_ if r~ana~ement be deleoated to an a~ent or agents,
r:»r tgzgee auu it~ ag~..,.
and it shall also include lease c.~:unissions and other ~a~eSt~blish claimsforsdaa~a;es,
scekir.g and procuring tenants and en[erin~ into leases),
if any, and premiu:ns on insurance liereinabove au[horized:
(b) To the payment of taxes and special assessrrents nou due or uhich ~ay here-
aEtcr beco:ne due on said premises;
(c) To the payr?ent of all repairs, decorating, renewals, replac~aents, altera-
tions, additions, or betterments, and improvesaents of s3id pre~ises, including the
cost fro~? time to time °lacintasaid propertyiin suchlcondition as vill,rinlther3udg-
stoves therein, and of p 8
ment of the mortgagee, make it readily rentable;
(d) To the paycnent of any indebtedness secured by the descYibed mortgage or :
any deficiency which may result from any foreclosure sale.
The undersigned does further specif ically au~horizart~ofithe above~desctibedery
present and future lessee or tenant~of the whole or any p
premises to pay all unpaid rental agreed upon in any tenancy to the mortgagee upon
receipt of danand fraa said mortgagee to pay the same.
It is understood and agreed tha.t the pravisions set forth in this assiganent
herein shall be deaned as a special remedy given to the mortgagee, and shall not be
deemed exclusive of a°Y ionaleremed iandgshal~be~cumulative with th~reaediesethere-
shall be deemed an addit Y
in granted.
Whenever the Word "undersigned" is mentioned herein, it is hereby u~erstood
that the same includes and shall be biuding upon successors and assigns (including
successors by consolidation) of the undersigned, and any partp or parties holding
title to the above described presnises by, through or under the ur.dersigned. All of
the rights, ~o~ers, privileges and ir~.n?unities hereir~ granted and assignad to the mort-
gagdeshall also inure to its s~accessors and assigns, including all holders, fro~n time
to tiiae, of the above described note. ;
i
; It is expressly understood that no ~udgrsent or decree wtdch may be entered on ~
; any debt secured or intended to be secured by the above described mortgage shall #
i operate to abrogate or lessen the effect of this instrument, but that the same shall ,
~ continue in full force and effect until the payment and discharge of any and alI ~
~ indebtedness nay be and until the indebtedness secured by said mortgage shall have ;
~ been paid in full and all bills incurred by virtue of the authority herein contained ;
~ have been fully paid out of tents, issues and profits of the~property, or by the un~er- i
~ signed, or until such time as this instrument nay be vothetaendencelofsny fareclosu~e Y
~ ment shall also remain in full force and effec[ during p Y
~ proceedings, both before and after sale, until the issuance of a deed pursuant to a
foreclosure decree, unless indeba~ionsofsan rperiodtof red~ption.ibed mortgage is
fully satisfied before the expir Y
~ IN WITNESS WHEREOF the und rs ned has heTey~to~ixe~ his (their) ~i19_ -
~ signature (s) and seal (s) this ~z-~ day of 6~'t ~--'LLc--~ ~
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OUTDOOR RESORTS OF AMERICA INC ~
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