HomeMy WebLinkAbout2343 one year; nor modify any such lease so as to shorten the term, decrease
the rent, accelerate the payment of rent or change the terms of any
renewal option; and any such purported assignment, cancellation surrender,
prepayment or modification made without consent of Mortgagee shall be
void as against Mortgagee.
24. That the failure of Mortgagee to exercise the option for
acceleration of maturity and/or foreclosure following any default as
aforesaid or to exercise any other option granted hereunder to Mortgagee
or in any one or more instances, or the acceptance by Mortgagee of par-
tial payments hereunder shall not constitute a waiver of any such
default, but such option shall remain continuously in force. Accelera-
tion of maturity, once claimed hereunder by Mortgagee may, at the option
of Mortgagee, be rescinded by written acknowledgement to that effect by
Mortgagee, but the tender and acceptance of partial payments alone shall
not in any way affect or rescind such acceleration of maturity.
25.' That the rights and remedies herein provided are cumulative
and Mortgagee, as the holder of the note and of every other obligation
secured hereby may recover judgment thereon, issue execution therefor
and resort to every other right or remedy available at law~or in equity,
without first exhausting and without affecting or impairing the security
of any right or remedy afforded hereby and no enumeration of special
rights or powers by any provisions hereof shall be construed to limit
any grant of general rights or powers, or to take away or limit any and
all rights granted to or vested in Mortgagee by virtue o.f the laws of
the jurisdiction wherein the subject premises is'located.
26. That Mortgagee, without notice and without regard to the con-
sideration, if any, paid therefor, and notwithstanding the existence
at that time of any inferior deeds of trust or other liens thereon, may
release any part of the security described herein or may release any
person liable for any indebtedness secured hereby without in any way
affecting the priority of this Mortgage, to the full extent of the
indebtedness remaining unpaid hereunder, upon any part of the security
not expressly released. Mortgagee may also agree with any party obligated
on said indebtedness or having any interest in the security described
herein, to extend the time for payment of any part or all of the indebt-
edness secured hereby, and such agreement shall not, in any way,
release or impair this Mortgage, but shall extend the same as against
the title of all parties having any interest in said security, which
interest is subject to this Mortgage.
27. That in the event Mortgagee: (a) releases, as aforesaid, any
t part of the security described herein or any person liable for any
indebtedness secured hereby, or (b) grants an extension of time on any
payments of the indebtedness secured hereby,.or (c) takes other or addi-
3 tional security for the payment thereof., or (d) waives or fails to
exercise any right granted herein or in said note, any said act or
r omission shall- not release Mortgagor, subsequent purchasers of the said
premises or any part thereof, or makers, sureties, endorsers or guarantors
of the note, from any obligation or any covenant of this Mortgage or of
the said note, nor preclude Mortgagee from exercising any right, power
or privilege herein granted or intended to be granted in the event of
any other default then made, or any subsequent default.
28. That Mortgagor-will execute and deliver to Mortgagee on demand,
and hereby authorizes and irrevocably appoints Mortgagee the attorney-
in-fact of Mortgagor to execute and deliver: (a) such financing state-
ments and other instruments as Mortgagee may require to impose the lien
hereof more specifically upon any and all fixtures and personal property
mentioned herein; (b) such security agreements and financing statements
as Mortgagee may require to give Mortgagee a first security interest in
and to all leases, rents, royalties, issues and profits of and from the
mortgaged premises, and in and to all property of every kind, type and
description whatsoever owned by Mortgagor which, in the sole opinion of
Mortgagee, is required, necessary or essential to the operation of the
mortgaged premises; and (c) financing statements, renewals, affidavits,
continuation statements, certificates, or other documents to perfect,
preserve, maintain, continue and extend all of the aforesaid security
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