HomeMy WebLinkAbout2020 i
t
or sales thereof which may be made pursuant to any provision
herein, or pursuant to the decree, judgment or order of any court
of competent jurisdiction; nor, after any such sale or sales,
claim or exercise any right under any statute heretofore or
hereafter enacted by any governmental authority, or otherwise, to
redeem the properties so sold or any part thereof= and Mortgagor .
hereby expressly waives al-l benefit or advantage or any such law
or laws, and covenants not. to hinder, delay or impede the
execution of any power herein granted or delegated to Mortgagee,
but to suffer and permit the execution of every power as though no
such law or laws had been made or enacted. Mortgagor, for itself
and all who claim under it, waives, to the extent that it lawfully
may, all right to have the mortgaged properties marshalled upon
any foreclosure hereof. -
Section 2.03. During the continuance of any such Event
of Default, Mortgagee personally, or by its agents or '
attorneys, may enter into and upon all or any part of the
Premises, and each and every. part thereof, and may exclude
Mortgagor, its agents and servants wholly therefrom; and having
and holding the same may use, operate, manage and control the -
mottgaged properties= and Mortgagee shall be entitled to collect
and receive all earnings, revenues, rents, issues, profits and f
income of the mortgaged properties and every part thereof,- all of
which shall for all purposes constitute property of Mortgagor; and
after deducting the expenses of conducting the business thereof,
and of all maintenance, repairs, renewals, replacements,
alterations, additions, betterments and improvements and amounts
necessary to pay for taxes, assessments, insurance and prior or
other proper charges upon the mortgaged properties or any part
thereof, as well as just_and reasonable compensation for the
services of Mortgagee shall apply the monies arising as aforesaid,
first, to the payment of the principal of the Note secured hereby,
and the interest thereon, when and as the same shall become
payable and second, to the payment of any other sums required to
be paid by Mortgagor under this Mortgage.
Section 2.04. In case of proceedings by or against
Mortgagor in insolvency or bankruptcy or any proceedings for its
reorganization or involving the liquidation of its assets, then -
and in such case, Mortgagee and for all attorneys, counsel,
j agents, clerks, servants and other employees by it properly
E engaged and employed, mortgagee shall be entitled to prove in said
j proceedings the entire unpaid amount of principal and interest due
upon the Note secured hereby to .the full amount thereof, and all
other payments, charyes and costs due under this Mortgage, without
deducting therefrom any proceeds obtained from the sale of the
whole or any part of the mortgaged properties, provided, however,
that in no case shall Mortgagee receive a greater amount than such
unpaid principal and interest and such other payments, charges and
costs from the aggregate amount of the proceeds of the sale of the
mortgaged properties and the distribution from the estate of
Mortgagor. -
Section 2.05. That Mortgagee shall have the right from -
time to time to take ac~tfon to recover any sums, whether interest, -
principal, or any installment of either, or any other sums
requried to be paid under the terms of this Mortgage, as the same
become due, without regard to whether or not the principal sum
secured, or any other sums secured, by the Note secured hereby 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
-13-
a~~K 314 PaGE 2013 ;
A
.Y -
'=~3