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(3) Receivership. Rave a receiver appointed to enter into possession of
the Mortgaged Property, collect the earnings, revenues, rents, issues, profits and
income there~om and apply the same as the court may direct. Mortgagee shall
be entitled to the appointment of a receiver without the necessity of proving
either the inadequacy of the see~rity or the insolvency of the Mortgagor or arOt
other person who may be legally or equitable liable to pay moneys secured hereby
and the Mortgagor and each such person shall be deemed to have waived such
prod and to have consented to the appointment of such receiver. Should the f
Mortgagee or ar4y receiver collect earnings, revenues, rents, issues, profits or
income from the Mortgaag~ed Property, the moneys so edleeted shall not be sub-
stituted for payment of the debt nor can they be used to cure the default, witlaut
the prior written cornsent of the Mortgagee. Mortgagee shall be liable to account
only for earnings, revenues, rents, issues, profits and income actually received
by Mortgagee.
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SECTION 14.02. Upon the oec~rrence of an Event of Default hereunder,
Mortgagee in pursuance of the foregoing remedies, or in addition thereto, (i) shall be
entitled to resort to its several securities for the payment of the sums secured hereby
in such order and manner as Mortgagee may think fit without impairing Martgagee~
lien in, or rights to, any of such securities and without affecting the Liability of any person,
firm or corporation for the sums secured hereby, e~oeept to the aslant that the indebted-
ness see~red hereby shall have been reduced by the actual monetary consideration, if
any, received by Mortgagee from the proceeds of such security; Gi) may, in Mortgagee's
sole discretion, release for such eonnsideration, or none, as Mortgagee may require, anp~
portion of the Mortgaged Property without, as to the remainder of the security, in anywise
impairing or affecting the lien of this Mortgage, or the priority thereof, or improving
the position a[ any subordinate lienhdder with respect thereto, e~ocept to the eztent
that the indebtedness se~crred hereby shall have been reduced by the actual monetary
corisideratim, if erry, received by Mortgagee for such release; and/or Gii) may accept
the assignment or plec~e of enbt other property in place thereof as Mortgagee may re-
quire without being accantable for so doing to any other lienor.
SECTION 14.03. Mortgagor hereby waives and releases (a) all errors, defects
and imperfections in any proceedings instituted by Mortgagee under this Mortgage, (b) ~
all benefit that might accrue to Mortgagor by virtue of any present or future laws ezempt 1
ing the Mortgaged Property, or any part of the proceeds arising from any sale thereof, _
from attachment, levy or sale,under execution, or providing for any stay of execution,
~ ezemption from civil process, or eztereion of time for payment, (c) all benefits that
E might accrue to Ma~tgagor from requiring valuation or appraisement of any part of the
E Mortgaged Property levied or sad on ezecution of any. judgment recovered for the in- -
debtedness seared hereby, and all notices not herein elsewhere specifically required,
of Mertgagor:s default or of Mortgagees ezereise, or election to exercise, any option
under this Mortgage. Mortgagor further agrees, if required by the Mortgagee, to consent
to the appointment of a receiver or receivers of the Mortgaged Property and of all the
earnings, revenues, rents, issues, profits and income thereof.
Mortgagor will not at any time insist upon, or plead, or in any mariner what- ~
ever, claim or take any benefit or advanteg+e of any stay or ezten4ion or moratorium
law, any ezemption from ezecution or sale of the Mortgaged Property or any part there-
of, wherever enabled, now or at any time hereafter in force, which may affect the coven-
i ants and terms of performance of this Mortgage, nor claim, take or insist upon any bene-
fit or advantage of any law now or hereafter in force providug for the valuation or ap-
praisal of the Mortgaged Property, or any pert thereof, prior to arty sale or sales thereof
wtaeh may be made pursuant to any provnsion herein, or pursuant to the decree, lodgment
or order of any court of competent jurisdiction; nor, after any such sale or sales, claim
~ or ezercise any right order any statute heretofore or hereafter enacted to redeem the
property so sold, or arty part thereof, and the Mortgagor hereby ezpressiy waives all
benefit or advantage at any such law or laws, and covenants not to hinder, delay or impede
t the ezecution of any power herein granted or delegated to the Mortgagee, but to suffer
and permit the ezecution of every power ass though no such law or laws had been made
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-22- ao~~K315 P~cE~~s
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