HomeMy WebLinkAbout1867 _ 1
those past due and unpaid as well as those accruing there-
under. Mortgagee may apply all such rents, issues and
profits collected or received by it in the manner herein-
- above' specified in respect of proceeds of sale of the
Mortgaged Property, or any part or all of such moneys may
be released by Mortgagee at its sole option. The expense
(including receivers' fees, if any, and compensation to
any agent appointed by Mortgagee, and counsel fees and
costs and disbursements) incurred in taking possession and
- effecting such col-lection, shall be deemed a portion of
the expense of this trust and be secured hereby. Neither
the entering upon and taking possession of said property -
`nor the collection of such rents, issues and profits and
the application or release thereof as a aforesaid shall
cure or waive any default or notice of default hereunder }
or invalidate any act done pursuant to such notice.
13. In the event of a default in the payment of
any sum evidenced by the Note or secured by this Mortgage
or in the payment or~performance of any other oblig anion
secured hereby or imposed by law, whether or not there -
shall have been filed a omplaint to foreclose this
mortgage, Mortgagee shall immediately and without notice
be entitled to the appointment of a receiver to enter upon
and take possession of the Mortgaged Property-(including,
without limitation, all personal property encumbered
hereby)-with the right and duty to manage,- operate,
preserve and protect the Mortgaged Property and to collect-
and account for the rents, earnings, issues, income and ~
profits thereof, with the usual power of receivers in such
cases, any such receiver may be continued in possession of z
the Mortgaged Property and in the collection of the rents,
earnings, issues, income and profits of the Mortgaged
Property during the pendency of any foreclosure suit,- and -
Mortgagor hereby--specifically waives the right to _object
to such appointment and consents that such appointment
shall be made as an admitted-equity and as a matter of
absolute right to Mortgagee and without reference to the
ad uac or inade uac of the value or the occupancy of
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so venc of
the Mortgaged Property or to the solvency or in 1 y
Mortgagor or any other- obligor under the Note or this
Mort a e or an other art defendant to any such suit.
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14. That -any stock in a water or irrigation
company endorsed to Beneficiary in connection with this
transaction may be registered in the name of Mortgagee as
pledgee, and held by either, as Beneficiary may -
determine. Whether or not said stock be appurtenant to
the above described land or any part thereof, and regard-- _
less of how said stock is registered or held, Mortgagor
and Mortgagee agree that if .default be made in the
.performance of any obliation secured hereby, Trustee may
i sell said stock or any part thereof and any other shares
of stock subject to this Mortgage, together with and at -
the time of any foreclosure sale of the above described
land or any part thereof. With respect to such sale of
~ said stock, Mortgagor hereby waives compliance with any t
and all-statutory requirements concerning the-sale of
f pledged property., and agrees that the provisions of law
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