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HomeMy WebLinkAbout1152 j provisions or stipulations contained in the Note, in this Mortgage, in the Related Documents. or in any other document securing the Note or in the Condominium Documents. (c) Any assignment for the benefit of credi- tors made by Mortgagor or any entity comprising Mortgagor. (d) Appointment of a receiver, liquidator or trustee of Mortgagor or any entity comprising Mortgagor or of the property of Mortgagor or any entity comprising Mort- gagor, insolvency of Mortgagor or any entity comprising Mortgagor or the filing by or against Mortgagor or any entity comprising Mortgagor of any petition for .the bankruptcy, r reorganization or atrrangement of Mortgagor or any entity comprising Mortgagor pursuant to the Federal Bankruptcy Act or any similar federal or state statute, or the institution of any proceeding for the dissolution or liquidation of Mortgagor or any entity comprising Mortgagor. (e) Institution of any proceeding to abate any nuisance at the Mortgaged Property, or which might result to the detriment of the use and enjoyment of the Mortgaged Property, or the rendering by any-court of last resort of a decision that an undertaking by Mortgagor as herein provided to pay any tax, assessment, levy, liability, obligation or encuiabrance is legally inoperative or cannot be enforced, or the passage of any law changing in any way or respect the laws now in force for the taxation of mortgages or debts secured thereby for any purpose,_or the manner of collection of any such tax, so as to affect this Mortgage or the debt secured hereby. 1 (f) Mortgagor's nonperformance of -or non- compliance with any of the agreements, conditions, cove- nants or stipulations contained in any commitment for condo- minium unit permanent mortgage loans which Mortgagor may obtain for-the benefit of condominium unit purchasers. (g) The-transfer of title or~beneficial inter- . est in the Mortgaged Property or any part thereof, or the transfer of stock in Mortgagor or any entity comprising Mort- gagor if Mortgagor or such entity is a corporation or of interests in Mortgagor or any entity comprising Mortgagor if Mortgagor or such entity is a partnership or joint ven- ~ tune, whether by sale, exchange, merger, consolidation or otherwise, without the prior written consent of Mortgagee, except as permitted herein. _ i (h) Default by Mortgagor under any Lease, or the termination, modification or surrender of any Lease without the prior approval of Mortgagee. (i) Mortgagor's de€ault under any secondary lien permitted herein. . -16- 8~3~'8 PA~E~.152