HomeMy WebLinkAbout2015 Ic) The "ltorn,wer" w?Il pay to the "Lender", upon demand, all expenses of obt:uning such lodgment
or decree and reasonable compensation to the "Lender", its attorneys and agents; and all such expenses and
compensation shall, until paid, be secured by the lien of this mortgage.
Id) Upon every such entering upun or taking of possession, the "Lender" may hold, store, use, operate,
manage and control the Mortgaged Property and conduct the business therm[, and, from time to time
1?1 make all necessary and proper maintenance, repairs, renewals, replacements, •+dditiuns, better-
ments and improvements thereto and tiiermn and purchase ur otherwise acquire additwnal fixtures,
pcrson.ilty and other property; .
iii) insure or keep the Mortgage )'ruperty insured;
tiii) manage and operate the Murlgagcd Property and exercise all the rights and powers o[ the
"13urrowei' in its name or otherwise, with respect to the same;
(iv) enter into any and all agreements w?th respect to the exercise, by others of any of the powers
herr?n granted the "Lender", •
ail as the "Lender" [rum time to time may determine to he to ?ts best adv:ntage; and the "Lender" may
collect :+nd receive all the income, revenues, rents, issues and prutits of the same, including those past due as
well as those accruing thereafter, and, after deducting
1:+;+? All expenses ut taking, holding, managing, and operating the Mortgaged Property (including
compensation fur the serv?ces of all persons employed for such purposes);
ebb) The cost of all such maintenance, repairs, renewals, replacements, add?tions, betterments, improve-
m~nt_c and purchases and acgwsitions;
_ Ice) Tfie cost of such insurance;
tdd) such tars, as:e>sments and other charges prior to the 1?en of th?s mortgage as the "Lender" may
determine to pay;
1 ee 1 other pn,pc•r charge; ulwn the Mortgaged Property or any l,:+rt thereof; and
? ff ? the reasonable cumpensatu,n, expenses and disbursement/ of the attorneys and agent of the
"Lender",
shall :+pply Ihr re•rnainder of the moneys so re•cei~•ed try the "Lo•nder", f+rst to the paynient of :i~crued ?nterest;
second to the payment of tax deposits reyuued ?n I'ar,+4raph 1.u3 of Article 1; and third to the payment of
overdue ?nstallmrnts of princip:+l.
Ie) Whrne~•rr all th.+t +s due ulx,n such uitere,t. tax deposit and principal inst:+llments and under any.
of the terms of tha mortgage, shall have been p:ud :uid`:,li defaults n+.+de gcx,d, the "Lender'' shall surrender
pusse.~siun ut the \lortg:+ged 1'ruperty to the "Rurrosver", its suc•cesu,rs or assigns. The same right of taking
pwsesswn, however, shall exist r[ any subsequent Event of Uetault shall occur and be continuing.
2.U4 Receiver. If any event of default shall have occurred and be continuing, "Lender" shall be en-
titled, as a mattcrr ut stoat right and without rr~.;ard to the value of ox•cupancy of the security, to have a re-
cen•er :+ppuinted U, enter upon and take pussesaun u; t):e prem;ses, cuilrct the rents and profits therefrurn
:,rid a,,ply the s:+nie as the court may direct, such rrcen•er to have :,l1 the rights and powers permitted under
tiie laws of Flunda. The expenses, including receiver's fees, counsci fee•i, costs and agent's compensation, in-
cur red pursuant to the puw+•rs herein contauu•d sh:J1 he secured here!>}•. 'fhe right to enter and take possc•s-
cion of .aid pri,prity• to m:uc+ge and oiler:,te the .:~rnc, tucuacct the rents, i>sues and profits thereof, whether
by a receiver ur ntheru•ise, shall !x• cumul:+Uve lu an}• i,ther right ur rrnx•dy hereunder or afforded by tau',
:end may be exercacd cuncunent there~s~ith ur independently thereat. "Lender" shall be liable to account
only for such rents, issues and profits actually rece+~•ed by "Lender", whether received pursuant to this Para-
{;rash 2A4 or the preccd?nK Paragraph 2.03.
2.U5 "Lender's' t'ow'er of Enforcement. If :ui F.ec•nt of llefault shall h:ovc occurred and l,e continu-
ing, the "Lender" m:+}•, erth,•r with or wrUu,ut entry or tak?n•, posse>su~n :,s hereinabove provi,ied ur other-
u•ise, proceed by sua ur suits at law or in e<luity ur by ;iny other appropriate prOCCedmg ur remedy ia) to
enturce payment of the note or the perfurm:nu•i• of •,ny to•im hereof ur :.n}• other right, tb) to foreclose this
j murt?;age and to sell, as :.n entirety ur in separ:+te tut, ur p;uccls, the ~lurtgagcd Property, under the judg-
ment ur decree of court ur c•uurts of competent junsdu•tu,n, and (c) to pursue any other rerned_v available
t., it, all as the "Lender" shat{ deem must ettectual fur such purposes. The "Lender" shall take action either
by such proceedings or by the exercise of its powers w?th respect to entry or taking pussesswn, as the
"Lender" may determine.
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t 2.06 Leases. The "Lender", at the "Lender's" option, is authorized to foreclose this mortgage subject
to the rights o[ any tenants of the bortgaged Property, and the failure •tu make any such tenants parties de-
~ tendants to any such foreclosure proceed?ng and to foreclose their rights will nut be, nor be asserted to he
5 by the "Borrower", a defense to any prcx-eedmgs instituted by the "Lender" to collect the sums secured here-
by, or any deficiency remaining unpaid after the foreclosure sale of the blurtgaged Property.
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2.07 Principal and Interest Become 'Due on Sale. Upon commencement u[ suit or foreclosure ut this mort-
~ gage, the unpaid principal of the note, if nut previously declared due, an<t :he interest accrued thereon, shall
at once become and be immediately due and payable.
t 2.08 Purchase by "Lender". Upon any such foreclosure sale, pursuant to judicial prcxecdings, the
"Lender" may bid for and purchase the Mortgaged Property and, upun c•umpL:ince with the terms of sale,
~ may hold, reta?n and possess and dispose of such property in'its own absolute right without further accounta-
b?lity.
2.09 Application of Indebtedness Toward Purchase Price. Upon any such foreclosure sale. pursuant to
judicial proceedings, the "Lender" may, if permitted by law, after allowing for the proportion of the total
purchase price requ?red to he paid in cash for the costs and expenses of the sale, compensation and other
~ charges, in payinrl the purchase price, apply Lo the purchase prise any portion of or all sums due to the
"Lender" under the note and this mortGa{;e, in lieu of cash, to the amount which shall, upun distribution
of the net proceeds of such sale, he payahle thereon.
2.I0 Waiver of Appralsement, Valuation, Stay. E:tension. and Redemption Laws. The "1)orrou•er" agrees
to the full extent permitted by law, that in case of a default on its part hereunder, neither thc• "Borrower"
nor anyone claiming through or under ?t shall or will set up, claim or seek to take advantage of any ap-
_ praisement, valuation, stay, extenswn or redemption laws now or hereafter in force, in order to prevent ar
hinder the enforcement or foreclosure of th?s mortgage, or the absolute sale of the property hereby conveyed,
~ or the final and absolute putting into possession thereof, immediately after such sale, of the purchasers thereat,
and the "Borrower", for itself and all who may at any time claim through or under it, hereby waives to the
full extent that it may lawfully so do, the benefit of all such laws, and any and all right to have the assets
? comprised in the security intended to t,e created hereby marshalled upon any foreclosure of the Len hereof
and agrees that the "Lender" or any court having jurisdiction to foreclose such lien may sell the Mortgaged
Property as an entirety.
-S- °..R~ 3U1 F, : ~ 2010
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