HomeMy WebLinkAbout2320 5. In the event of any default in the performance
of any of Mortgagor's covenants or agreements herein, Mort-
gagee may, at the option of Mortgagee, perform the same and
the cost thereof, with interest at the Interest Rate, shall
immediately be due from Mortgagor to Mortgagee and secured
by this Mortgage. If Mortgagee shall remedy such default
or appear in, defend or bring any action or proceedings to
protect Mortgagee's interest in the Mortgaged Property or
to foreclose this Mortgage or collect the Debt, the costs "
and expenses (including reasonable attorneys' fees to the
extent permitted by law) incurred by Mortgagee in remedying
such default or appearing in, defending or bringing such action
or proceeding shall be paid to Mortgagee by Mortgagor upon
demand with interest at the Interest Rate. All such costs
and expenses incurred by Mortgagee pursuant to the terms of
this Mortgage, with interest thereon at the Interest Rate,
shall be deemed to be secured by this Mortgage.
6. Mortgagor will pay all taxes, assessments,.
water rates, sewer rents and other charges now or hereafter
-levied against the Mortgaged Property or any part thereof,
and in default thereof, Mortgagee may pay the same. Upon re-
quest of Mortgagee, Mortgagor will exhibit to Mortgagee re-
ceipts for the payment of all items specified in this Article
prior to the date when the same shall become delinquent.
7. The holder of this Mortgage, in any action to
foreclose it, shall be entitled to the appointment of a re-
ceiver. "
8. Mortgagor, upon request, will, within 5 days
thereafter, furnish a written statement duly acknowledged of
the amount due on this Mortgage and whether any offsets or
defenses exist against the Debt.
9. If any payment to Mortgagee pursuant to this Mort-
gage or the note is not paid within 15 days after the date on
which. it is due, Mortgagor shall pay to Mortgagee upon demand
f an amount equal to 4~ for each $1 payable to defray the
expense incurred by Mortgagee in handling and processing such
delinquent payment, and such amount shall be deemed to be
secured by this Mortgage.
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I 10. Mortgagor warrants that Mortgagor is sei2ed
! of title to the Mortgaged Property.
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11. In case of a sale, said Mortgaged Property or
so much thereof as may be affected by this Mortgage, may be
sold in one parcel.
12. This is a purchase money mortgage which is be-
ing delivered by Mortgagor to Mortgagee contemporaneously with
t the transfer of title to the Mortgaged Premises by Mortgagee
to Mortgagor.
13. If any action or proceeding be commenced (in- I
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eluding an action to foreclose this Mortgage or to collect ~
the Debt), in which Mortgagee becomes a party or participates, ~
by reason of being the holder of this Mortgage or the Debt,
all sums paid by Mortgagee for the expense of so becoming
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