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Home My WebLink About2237 9. To deliver any abstract of abstracts of tick or title iasutaaoe policy or polkias ooreririg the mort~ed ptapariy to Mortgagee or its decimated agaat, which rhaU,~( all Haws daring the life of this mortgage, nmaia is the pocte n of the Mott• ' ' gagae and is etratt o the foreclostirc d this ~rt~ all right. title and iaterast of the Monp~or is aril to aay wt9i abstract a ~p~ast to tM purchau at forecl~u~n~; however. all mortgagee title inwraace polida shop teataiu the Ptopttrty d 10. That ao waiver d say cotroriant herein or in the obliptioas secured hereby thaU ~t.><tW,.ligw put?afUt a bald to be s waiver d tray of the otlwr terms bored or of the aota ssaued h.r.by. nor may MortBagdc rely Did sir ooataa of owdua by Mortgagee not required by this Listttirritnt. That the Mort/~~ee. without ao ,may yew aay party oblipted oa said iadebtaduwa. or havinj as interest is tM security described htcein, to ronew of extend ~q tQc Rtyme~t of any Part of all d the Itdebtedriac second Mteby, without in any way atfectiag eitlwr the lien hereof,as~ pabmty if any ether piny. 11. That is order to aoeetetate the maturity of the Iridebtedaea hereby secured because of tM failure d dw Mortgagor to pay any tax aseapawat, Uabi7ity, obUptioa d encnmbnace upon said property u heels: prorRled, k shsl! rwt be iteopasary nor regtrWte that the Mortgagee chap Atst pey tM wne. 12, That p' the Mortgagor shW fop, aegNet or refuse for a period d tea 0) days htlyr and ~romptb to pay,the Duals required to ba pdd by tM testa i~snb sound or the lateral therMa spedtied or aqy of tM wilt of money herein re(~ to of y retuned, of otherwbe dtrb~, and promptq~ to ppeerform, exewte, comply with tad abide by each, every or aay d the ooveltaab, oondltions a stipulatioas d this mortp~, the ptomiatory note haebr spouted asid/or the ooasweeba ban . sgreettseet, K atq, then, aced is eitbet or b any of wcheveats, without notke or demaidi t!w said a~l~ irm tneatioaed is Did Promissory rata. las I~ Pq~meats, if arty. and any and cep wins awoNoaed haeia or severed hereby shop becanw des asd pos~eya~bbaUforthariW ~odr U p~eirdat tM oontkufq option d the Mortgage as fltpy and oompkteb+ q if pid aggrgate wtm and the lr~tyjsdta~ be ~thkd ~ ~ wYthiag is said promissory aota of herein to the dOtRiaty notwith~hadiag. • aafaroe the right of the D° a thersafter without notice or demand to iartitute wit at law or is eq~i~y to d the Yas haetiadat of under said promiaory emotes. In the ereslt d aay default or breach oa the part igrigoc hetetiadet or cruder said prosy notes, the Mortgagee.shaU have ties ooatioulAt optioa to ae~tota payateat d cep wens ssauad hereby by action at law or br iw t is equity to foreclose this mortgage. either otboth. oonartready a other- wise, and one action or suit shsU riot abate a be a bu to or waiver of the Mortgage's right to isWigtte or t}teiataia tba older, provided said Mortgage shall haw oob? one paymeat aril satisGctbn of said iadebtedaestis. , 13-A. Tint is the event that Yo shall (t) oortseat to the appointment of a receiver, trurtee or liquidator o[ cep . or a wbstaatial d Mortgagoumreta, oft 21be etJudigsted a bankrupt or insolvent. or fib a voluataty petition le baeikro icy . or admit in writitr~ his iwbt'lity to ply his d~ at ~becorrw des, or (3) make a gmteral assignawat for benetft of creditors, - or (4) rib a petition or snswer seekvig teorganiratioa or arrarigemaat with creditor, or to take advantage of aay lasolvwicy law, or (S) rile an aoswai adniittirig any d the eoatetWag~~ tiont d a petition filed against the Yo r is aoy ba» lwptcy, re• or¢ariizatan or incolveeiry rooeeding, or (6) ac6tid'~Q be'tataa~by the Mortgagor for the pnrposs of etiectkg say of the fore- going, or (7) aay older, jta~ase4t of deaee thsU be eateted upat an apptiation of fa aeditor or Mortgagor by a court of com- petent jurisdiction approving a petition seeking appointmeat o a receiver or trustee of all or a wbstantia put of the Mortgagor's assets aril verb order, judgntaat or decree chap coatiow teastsyed aril is etfea far lay Period of thirty (30) twosecutive days, the Mortgage may dodos the aotes hereby secured fortbwiW dm aed payable, wlwreupon the principal d aced the intaeat accrued oa ties Dotes aad all other win: btneby secured shall beeorae forthwith des and paysbb as U all of the said :urns of money wen on s<iptilated to be paid oa stidi day; and tlwrcupoa the Mortgage wiWout aotice a demsod may prosecute a suit at IaTr strJ Ot ie equity. as,if all tsioaite selu0tt~ereby had matured prbr to its imtitutioa. 13-B:,That,in the swat the Prciinias Mreby mortgaged. or any put hereof, shall be condemned and takai for ppublic use under the power,of eraiaeist domain, Y~r~a~es:~ have the right to require that all damages awarded for the tatirig of or damage to said premi'se's shall be paid to the7~[ortpgee, not to exceed the rhea unpaid balaaae d this mortgage and any win secured thereby. sad st the option d the Yottgsgee such amouats may be applied upon the paymeat or paymaits last payable heteoa. la the anent it becomes necessary for the Mortgagee to employ counsel to protect its interat at aay tmademaation proccediogs, the Mortgagor shall immediately upon demaeil reimburse the Morigsgee [or all reasoaabk expenses aM attorneys' fees thus iricterred, aced all verb sums shop be deemed scarred by the lien of this mortgage. - l4. That the Mortgagee or any perwa authorized by the Mortgagee shall have the right to eater upoa and impact the mortgaged Premises at all rcasoaabk tunes. 1S-A. That to further secure payment of the indebtedness of the Mortgagor to the Mortgagee, the Mottgsgor does hereby sell, assim, transfer aril set over unto the Mortgagee all of the rcats. issues, and profits of the mortgaged pre-miles, and Mortgagee may at its option delay ea[otcirig this assimrrwat uatr7 any default being made by the Mortgagor under the centres d this mortgage the notes secured hereby. aed such as:ignmeat is any erect shall remain in full force and affect :o long as any default ooatiaties to exist is the making d any of the payments or the performance d any of the covenants d this mortgage or the notes secured hereby, aril the-Mortgagee shall have the right to eater upon the premises and collect same directly frpm persons in possession Mortgagor ogres to execute any futthar docuawats evidencing such assignment as Mortgagee may reasonably request from time to time. , 1 S-B. That is the event that at the begieming d or at any time periling any wit upon this mortgage, or to foredose it, or to reform it, am/or to enforce payment of any dolma hereunder, acid Mortgagee shall apply to the court having jurisdiction thereof for the appointment of a Receiver, verb court stall forthwith appoint a Receiver of said rrartRaaed property all and singular, iadudiag all acrd singulu rents. income, pto[its, issues, and revenues from whatever source de , eadi and away of which, it beiri~ expressly~!! understood, is benc~h,y~mortgaged as if speciticaUy set forth and described in the greeting and haberdum dauies'Mrebf.lst fisy~e#hNiiti hereto, afly'iial! Receiver shall have all the broad sad effective functions aril powers le anywise entrusted' by!a tsert to a JLeceiva, aced sualt appointment shall be made by verb rnurt as,aa admitted equity and a matter of ab- solutq, right-to said ldprt~e, _ant(agjtbo~,~rcnce to the adequacy or inadequacy d any remedy at law or of the adequacy or inadequacy of the value of the property mor~gsged ~ to the sohency or insohency of said Mortgagor or of any or all of the do- fendan ts, and that such rents. profits. income, owes and revenues stiaU be applied by such Receiver according to the lien and/or equity of said Mortgagee and the practice of verb Dour[. l6. To pay all and singular the costs, dingo: and expenses, inducting rcasoiiabk lawyer's fees aced fees for appellate wodc i and -costs d abstract of title, incurred or paid at arty time by said Mortgagee because and/or is the erect d the farlurc oa the I part of the raid Mortgagor to dnty, promptly and folly perform, discha mp mpty with and sbide by ~ each and ere the ula ' rga. execute, effect, oo kta o0 ~ ry slip bons, agreements. t?ondiYions and oovemnts of said promissory notes aril this mortgage, nay or either, E and said a»ts, chuges and expenses, each and every; shaII be immediately due and payable, whether or not then ba notice, ~ demand, attempt to collect or wit pending; and the full amount of each and every verb payment shall ben interest from the - ~ date thereof until paid at the same rate as is specified, in the rotas secured hereby. as payable aria default is payment of said notes and all raid costs. charges and expenses so iricttrred of paid. together with such interest, shall be secured by the lien of this I mortgage. - . 11s That Mortgagor will not permit any other liens, mortgages or encumbrances against the lard premises, aced it any verb •Neifa, mokigagei or encumbrances are incurred, whether puamount or wbordinated to this mortgage, Mortgagor will cruse such liens, mortgages or encumbnnca to be discharged immediately. Without limiting the totegoing, should there be s lien wperior in dignity to the lien of this mortgage with Mortgagee' consent, it is oonvenant aril agreed that should the terms d a lien wperior in dignity to that of this mortgage be modified, altered or varied without the written consent of the Mortgagee herein, or should nay lien superior in dignity to that of this mortgage be or become in default, then and in verb event the Mortgagee herein may at it: option aaxterate the iridabtednea secured by this mortgage and declue the name to be all due and payable . without notice to Mortgagor o~r any other pasoa. A - 18. Mortpgee shall have the right to duuge any of Mortgagor's accounts with Mortgagee for any wins payable as pro- y vided herein or in the prominory note secured hereby as verb becomes due. g 19. If the Mortgagee nests, Mortgagor will furnish the Mortgagee annually from the date of this mortgaggee instrument unless some other date is agreed to between the parties is writing, a certified audited financial statement of the Mortgagor aril a annual complete statements of Mortgagor. If the Mortgagor's fiscal glendar you stall not coincide with the data herein specified, then the date which the Mortgagee shall specify shall be controlling. Mortgagor shall wpply Mortgagee with such other financial statements u Mortgagee may from time to time request. 20. No right or remedy prcvided herein for the Mortgagee or provided for the Mortgagee in the note recurcd hereby shall be cumulative and sevenbk. 21. It is understood and agreed that this mortgage is given to recure, in addition to the note or obligation attached hereto, any additional loans or future advances made within the term of this mortgage loan to said Mortgagors or any wecessor in title of ' said Mortgagor d the property hereby conveyed; provided that the total unpaid balance of the icdebtadness secured hereby at s any one time shall not exceed ~ ~ ~ ~ ~ ~ ~ - - ~ ~ - - - plus interest [heron plus any disbursements made by the t Mortgageee for the laymen[ of taxes, levies, insunace or other c es on the ro oiling fees fot~ p ~h' encvmbercd Hereby, with interest on will i disbursements, total costs and attortwy s ter:, incl appellate work. 22. This mortgage is wbject to the terms, provisions aril conditasis of riot certain Construction Loan Agreement dated 3 r " ---''-'''''-'"-----'---,and said Coasttuetion Loan Agrament is by reference incorponeod herein aril made a part hereof. Default in the terms of the Construction Loan Agramcnt shall constitute a default under the mortgage. 1 ~ ~ aooK 3032233 r