HomeMy WebLinkAbout1136 appointment of a receiver or re-
ceivers to all or any_part of the .
Premises; or i£ final ~udgment for
the payment of money shall be ren-
dered against the Mortgagor and
(a) the same shall not be dis-
charged within sixty (60) dnys
from the entry thereof, or (b)
an appeal sha1X not have been com-
menced therefrom or from the order
or decree or process upon which or
pursuant to which the said judgment ~
was granted, based or entered and a
stay of execution pending such appeal
shall not have been obtained;
(For the purposes of this subpara-
graph xiv, the Mortgagor, if a part-
nership or joint venture shall be .
deemed to include any general partner
or joint venturer thereof and, if a
corporation, any majority shareholder
thereof.)
(xv) if the Mortgagor shall
fail to pay any installment of princi-
pal or interest due under any Subordinate
. Mortgage, or to perform any other cove-
- nant or condition thereof, or should
any suit be com~nenced to foreclose any
~ Subordinate Mortgage.
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~ Article 22. Remedies of the I~brtgagee
~
In the event of a default on the part of the
Mc~rtgagor, as hereinabove provided, then and in every such case
the Mortgagee shall be entitled to do any or all of the following:
(a) The Mortgagee may, by written notice
given to the I~rCgagor, declare the entire princi- #
~ pal of the Note then outstanding (if not then due
~ and payable in full), and all accrued and unpaid
~ interest thereon, to be due and payable imane- '
~ diately, and upon any such declaration the prin- ~
~ cipal amount of the Note and said accrued and un-
y" .
paid interest shall become and be immediately
~ due and payable, anything in the Note or this Agree-
~ ment to the contrary notwithstanding.
4t
d"
~ (b) The Mortgagee personally, or by its
~ agents or attorneys, may enter into and upon all
~ or any part of the Premises, and each and every .
~ part thereof, and may exclude the Mortgagor, its ;
~ agents and servants wholly therefrom; and having ~
~ and holding the same, may use, operaCe, manage
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Boo~238 PACE1135
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