HomeMy WebLinkAbout0159 (e) Th~t if any of said sums of awney herein referred to be not promptly • '
And fully pAid within 15 dAys next after the same eQVerally become due and pay-
able~ or i~ each and every the~stipulations, agreements, condilions and coven-
ants of said note dated June 28, 1977, and this deed, or either, aro not fully
performed, complied with and abided by, the outstandinq princfpal balance.
plus interest, due on said note dated June 28. 1977. and any renewal thereof,
and all indcbtedness frora Florists Clearing Network, Inc, to Mortgagee, shall ~
becane due and payable forthwith, or thereafter, at the option of the Mortqaqee
as fully and completely as if the said outstanding principal balance due on
said note dated June 28, 1479, p2us interest, Was originally stipulated to be
paid on such day, anything in said note dated June 28, 197T, or herein to the
contrary notwithstanding. .
2. The lien hereof shall extend to and include the use, rents and profits of said
premises, but the Mortgagor and the Mortqagors shall have the right to remain in possession
of said premises and enjoy the use, and to receive the rents and pr'ofits thereof, without
aCcountinq to the Mortgaqee therefor, so lonq as there shall be no default hereunder, pro-
vided that in the event of any such default hereunder for a period of 15 days, the Nortqagee
shall be entitled to the possession and use of said mortgaged premises, and to receive and
apply the net rents and profits thereof, upon and toward the payment of the indebtedness
hereby secured.
3. The Mortgagee at its option may extend the time for the payment of all or any
part of said indebtedness, or reduce the payments thereon, or accept a renewal note or
notes therefor, without the consent of any junfor lien holder, and-without the consent
of the Hortgagor or the Mortgagors if the Nortgagor or Mortgagors have parted with the
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title to said property, and any such extension, reduction, or renewal shall not release the
Mortgagor or Mortgagors or any endorser or guarantor from liability for such indebtedness,
or affect the priority of this mortgaqe over any junior lien, or impair the security hereof
in any manner whatsoPVer.
4. In the event there shall be filed a complaint to foreclose this mortgage, the
plaintiff shall immediately and aithout notice be entitled to the appointment of a reciever
for the mortgaged property and the rents, earninqs, issues, income and profits thereof, with
the usual power of recefvers in such cases, and such receiver may be continued in possession
of said property and of said rents, earnings, issues, income and profits of said property
during the pendency of such forec2osure suit, and the Hortqagor and the Mortgagors hereby
specffically waive the right to bject to such appointment and consent that such appoint-
ment sha12 be.made as an admitte~quity and as a matter of absolute right to the Mortgagee,
and without reference to the adequacy or inadequacy of the value of the mortqaged property
or the solvency o= insolvency of the Hortgagor or the Mortqaqors or any other party
defendant to such suit. , .
S. In the event the ownership of the mortqaged premises, or any part thereof, be-
comea vested in a person other than the Hortgagor or the Mortgagors. the Mortgaqee may,
without notice to the Mortgagor or the Mortaggors, deal with auch successor or successors
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