HomeMy WebLinkAbout2322 be paid under the terms of this Mortgage, as the same become
due, without regard to whether or not the Debt or any other
sums secured by the note and this Mortgage shall be due and
without prejudice to-the right of Mortgagee thereafter to
bring an action of foreclosure, or any other action, for a
default or defaults by Mortgagor existing at the time such
earlier action was commenced.
20. Any failure by Mortgagee to insist upon the
strict performance by Mortgagor of any of the terms and
provisions hereof shall not be deemed to be a waiver of
any of the terms and provisions hereof, and Mortgagee, not-
withstanding any such failure, shall have the right there-
after to insist upon the strict performance by Mortgagor
of any and all of the terms and provisions of this Mortgage
to be performed by Mortgagor. Mortgagee may resort for the
payment of the Debt to any other security therefor held by
Mortgagee in such order and manner as Mortgagee may elect.
21. This Mortgage shall also constitute a security
agreement. The Mortgaged Property includes both real and per-
sonal property. Mortgagor, from time to time when reasonably
requested by Mortgagee, will execute and deliver such docu-
ments as Mortgagee may request to confirm, preserve and main-
tain the lien or priority thereof created by this Mortgage
and shall pay to Mortgagee on demand any expenses incurred by
Mortgagee in connection with the preparation, execution and
filing of any such documents.
22. The rights of Mortgagee arising under the
clauses and covenants contained in this Mortgage shall be
separate, distinct and cumulative and none of them shall be
in exclusion of the others. No act of Mortgagee shall be
construed as an election to proceed under any one provision
herein to the exclusion of any other provision, anything
herein or otherwise to the contrary notwithstanding.
23. Wherever used in this Mortgage, unless the con-
~ text clearly indicates a contrary intent or unless otherwise
specifically provided herein:
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(a) "lease" shall mean "tenancy, subtenancy,
lease and/or sublease";
(b) "Mortgagor" shall mean "Mortgagor and/or
any subsequent owner or owners of the Mortgaged
~ Property; '
(c) "Mortgagee" shall mean "Mortgagee or any
subsequent holder or holders of this Mortgage"; and
g
(d) "person" shall mean "an individual, cor-
_ poration, partnership or unincorporated associa-
t ion" ; and
(e) "Interest Rate" shall mean "the lesser of
(i) 10$ per annum or (ii) the maximum lawful rate
on payments made by Mortgagee pursuant to this Mort-
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