HomeMy WebLinkAbout2094 Until default in the performance of the
covenants and agreements of this mortgage, the mortgagors
shall be entitled to collect the rents, issues and profits
' from the premises hereinbefore described, but in case of a
default in any of the terms of this mortgage, and the filing
o.f a bill to foreclose this or any other mortgage encumbering
the within described property, the mortgagees shall immediately
and without notice be entitled to the appointment of a Receiver
of the mortgaged property, and of the rents, issues and profits
thereof, with the usual power of Receivers in such cases, and
such Receiver may be continued in possession of the said
property until the time~of the sale thereof under such fore-
closure, and until the confirmation of such sale by the Court.
8. If a conveyance should be made by the mortgagors
of •t he premises herein described, or any part thereof, without
the written consent of the mortgagees, and without assumption
in regular form of law by the grantee of the obligations to
the mortgagees created by said promissory note and this mortgage,
then, and in that event, and at the option of the mortgagees,
and without notice, all sums of money secured hereby shall
immediately and concurrently with such conveyance become due
and payable and in default. The mortgagees may deal with
successors in interest with reference to this mortgage and-
the debt hereby secured in the same manner as with the mortgagors,
and may forbear to sue or may extend time for payment of the debt,
secured hereby, or ctherwise act without discharging or in any
way affecting the liability of the mortgagors hereunder or upon
the debt hereby secured. The mortgagees may also deal with the- -
mortgagors and/or with successors in interest with reference to
this mortgage and the debt hereby secured by forbearing to sue,
extending the time for payment of the debt, providing for
different monthly payments and/or a different interest rate,
and by other express modifications of the contract, without
- losing any priority the mortgagees have over other mortgagees
or lienors or holders of any junior interests in the property
secured hereby.
9. That in the event the premises hereby mortgaged,
or any part thereof, shall be condemned and taken for public
use under the power of eminent-domain, the mortgagees shall
have the right to demand that all damages awarded for the
taking of or damages to said premises shall be paid to the
mortgagees, their successors or assigns, up to the amount
unpaid on this mortgage and may be applied upon the payment
or payments last payable thereon.
10. If foreclosure. proceedings of any second mortgage
or second trust deed or any junior lien of any kind should be
instituted, the mortgagees may at their option, immediately or
thereafter declare this mortgage and the indebtedness secured
hereby due and payable,
11. To pay all and singular the costs, charges and
expenses including lawyer's fees, reasonably incurred or paid
at any time by the mortgagees because of the failure of the
mortgagors to perform, comply with and abide by each and every
stipulations, agreements, conditions and covenants of said
promissory note and this deed or either, and every such payment
shall bear interest from date at the rate stated in the note
secured hereby.
12. That he will permit; commit, or suffer no waste,
impairment, or deterioration of said property or any part
thereof; and in the event of the failure of the mortgagors to
keep the buildings on said premises and those to be erected.
on said premises, or improvements thereon in good repair, the
mortgagees may make and pay for such repairs as in its dis-
cretion it may deem necessary for the proper preservation
thereof, and the full amount of such payments shall be secured
by the lien of this mortgage and shall at the option of the
mortgagees be immediately due and payable, or payable in such
monthly installments as the mortgagees may determine, and every
such payment shall bear interest as the mortgagees may determine,
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