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HomeMy WebLinkAbout1140 by virtue of 3udicial proceedings or of a judgment or decree ~ of foreclosure and sale, the Mortgagee may bid for and acquire the Premises or any part thereof and in lieu of paying cash Cherefor may make settlement for the purchase price by credit- ing upon the indebtedness of ~he Mortgngor secured by the Note, MorCgage.and this Agreement the net sales price after deducting therefrom the expenses of the sale and the costs of the action and any other sums which the Mortgagee is authorized to deduct under this Agreement. , Article 26. Mortgagee~s Right to Exercise Remedies _ No remedy conferred upon or reserved to the Mortgagee herein or in the Mortgage or in any other agreement is intended to be exclusive of any other remedy or remedies, and each and every such remedy shall be cumulative, and shall be in addition to every other remedy given hereunder and thereunder or now or hereafter existing at law or in equity or by sCatute. No delay or omission of the Mortgagee to exercise any right or power accruing upon any default shall impair any such right or power, or shall be construed to be a waiver of any such default or any acquiescence therein; and every power and remedy given by the Mortgage and this Agreement to the Mortgagee may be exercised from time to time as often as may be deemed expedient by the Mortgagee. Nothing in this Agreement or in the Note and Mort- gage shall affect the obligation of the Mortgagor to pay the principal of, and interest on, the Note in the manner and at the time and place herein expressed. ; ~ Article 27. Waiver by Mortga~or E ~ ~ The Mortgagor will not at any time insist upon, or plead, ! or in any manner whatever claim or take any benefit or advantage 0 of any stay or extension or moratorium law, any exemption from ~ execution or sale of the Premises or any part thereof, wherever ~ enacted, now or at any time hereafter in force, which may affect the covenants and terms of performance of the Mortgage and this Agreement, nor claim, take or insist upon any benefit or advantage " of any 1aw now or hereafter in force providing for the valuation or appraisal of the Premises, or any part thereof, prior to any sale or sales thereof ~hich may be ma.de pursuant to any provi- sion herein, or pursuant to the decree, judgment or order of any court of competent jurisdiction; nor, after any such sale or sales, claim or exercise any right under any statute heretofore ~ or hereafter enacted to redeem the property so sold or any part - ~ thereof, and the Mortgagor hereby expressly waives a11 benefit ~ or advantage of any such law or laws, and covenants not to hinder, ~ delay or impede the execution of any power herein granted or ~ delegated to the Mortgagee, but to suffer and permit the execu- ~ tion of every power as though no such law or laws had been made ~ or enacted. The Mortgagor, for itself and all who may claim ~ under it, waives, to the extent that it lawfully may, all right ~ to have the Premises marshaled upon any foreclosure hereof. ~ ' s ~ -2~- ~ eooK238 PACE1139 _ ~ ' ~ _ ~ ~ I ~:4~~ ~ ~ , ~ ~ _ _