HomeMy WebLinkAbout0009 aad power to rrant tuch exteaaaas to tbe mal~en ot the nota hereby securod as uid mottsa~a may dam dvisabl0. w~~t i
6rst obtainies t6e oo~eat ot any ot6u person li~ble tor taid debt. wbetGer primary or saoodary. and to tate wcb renevvals ~
oi tbe nota aad debt hercby securod a iaid mort~asee may dam advisabl0. without &st ~ecurins the cooient oi anp other ~
per~oa liable tor said indebtodnd~. No delay In the entorameat by tbe awrtptee o[ auy ot t6e cis6b ot said a~ottp~es i
uisias by virtue ot this mortp~e dood aad promissory aota 6ereby ~ecurod ahal! operata aa a relea~e ar discbar~e d ~ny
persou liable for tbe debt hereby ~curod. whetber primsry or socondary. ' ~ =
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13. In tbe eveat ot We Mort~a~or"a default in the pertormance ot any ot tba terms u~d provislons oE tl~a mo~tp~e ;
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or the promissory nota hereby ~cured. the Mortja~or irrcvocably appoints tha Mortpg~ee ar tq repreaentstive ss tbe ssent ~
ot the Mongagor tor the tolbwinj purposes: (a) to enter up0~ aad take posse.uiou of, for t6e acoount oE tbe Mort~asor.
the mortp~od Premix~ and prope~ty hereby encumbered (includiaa but not limitod to the rents. ~oRts and iacoae ucruias i
theeetrom) uatil such time u~id propertp. IACludin~ nnt~, pro6ts and inoome, is taken iato actual custody by d~a oourt ss ;
provided in Para~aph 11 hereof. and out ot suc6 reats. ProBts and income w pay aU obligations ot the Mortsagor s~ benin
definod. ia the order which tbe Mortta~ee may determine; such acts ot the Mortgasee shall not be caiswed as a wniver ot
default or atoppel aaainst t6e Mortgagoe to ea~enisa all ot6er rights and privile~a berein ooaferrcd upon the Mortp~ee;
(b) to take poasession oE dl tan~ible persoaal property 6eceby encumbernd for the socouot of tbe Mwtgagor. aod provide
for the aafekeeping oE tbe aame unW aucd time as aaid property is taken inw actual custody by the court. u provided in {
Paraaraph 11 hereot. Atl oosts and expeoxa thus iacurrod by tbe Mortaajee shall be paid by the Mortaagor and ~curcd ~
by the lieu of tha mortaaga ~
-14. In the event the jnrisdiction ot the U. S. District Coort a6a11 be involced by oc against the mort~agor noder any
o[ the Chapters or provisiom ot t~e Chandler Act (11 USC), such action. w~hethet voluntary or involuntary on the part ot
the mort~a~or, shall automaticaUy. ~vithout notioe. acoelerate the maturitp of aU tums of money br.rein described and
aocurcd. and the sama shaU thet~eupoa baome due and payabk forthrvlW as fully as lf t6e said agtretate wms of money ;
were ori~inally atipulated to be paid on such deW. Sluh oaut upon mere motion oi tho mort~a~ee shall forthwith without
delay pcoceed in a wmmary manner (the most eapeditirnu way alb~vabk by Genenl Order 18, 11 USC 94(s)(4)) to sell :
the property hercio eocumbered and apply the proceeds of wch sale in satisfactaa of t6a debt hueby aecured. and if wcb i
proceeds be inw8icient to dischu~s such debt, the mortaagee shall have tl~e right to puticipate in t6e distn'bution of otliec ~
asseb of the mortsagor.
15. 'Ibe mortgagor agras that it will not directly or indirecUy. voluntan'ly or involuatarily. suHer, dba or permit i
any consensuai oc noaconseasual or riatutory or judicial lien to attac6 to t6e real, personal or intang~'ble per~onal property :
hereby encumbered by t6it a~ortaage deed. ^ ;
16. In the event the ral property encumbered bp this mortgage shall be wholly or partiaUy taken by the uWization '
of power of eminent domaia, suc6 taking shall automatically withont notice mature the entire debi 6ereby secured. and ibe d
rnmpensation awarded the owner in wch procoedinas ahail be paid to the Mortaagce and applied pro taato in payment ot
the princip~l, intuest. e:peosa and nasonable counsel fees doe the Mortgaaee ss herein providod. •
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17. T6e debt evideaced and aecured bI? this mort6a8e deed is alao evidenced by promissory notes more particularty :
descrlbed as follows: A description of aaid prom&sory notes is hereby deemed sdequate. 11ee mortgagor does henby waive ~
the attaching ot oopia of aid pran~ssory notw to ttus mortgage.
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