HomeMy WebLinkAbout193712. '!b waive the benefit of any and all homestead exemp-
tions as to all amounts secured hereby.
13. If any of said suns of moc~ey herein referred to, other
than principal and interest, be not promptly and fully paid within
thirty (30) days next after the~same become due and payable, or if any
of the stipulations, agreements, conditions and covenants of said
Pranissory Note, this Nbrtgage, or any other instrunent executed in
connection with this transaction are rot duly performed, oomQlied with
and abided by, the said aggregate sun mentioned in said Pranissory
Note shall become due and payable forthwith, or thereafter, at the opr
tion of the Hbrtgagee, its successors or assigns, as fully as if the
full principal sun of the Promissory Note was originally stipulated to
be paid on such date, anything in said Pranissory Note bo the contrary
notwithstanding.
14. Ztte filing by the Nbrtgagor of a voluntary petition in
bankruptcy or adjudication of l~brtgagor as bankrupt or insolvent, or
the filing by the Nbrtgagor of any petition. or answer seeking or ao-
quiescing in any reorganization, arrangements, liquidation, dissolu-
tion or similar relief for itself under any present or future federal,
state or other statute law or regulation relating bo bankruptcy, in-
solvency or other relief for debtors, or the Nbrtgagor seeking or oorr
senting to or acquiescing in the appointment of a trustee, receiver,
or 1 iquidator of the Nbrtgagor or of all or any substantive part of
the premises, or any or all of the rents, revenues, issues, earnings,
profits or income thereof or the making of any general assignment for
the benefit of creditors or the admission in writing of mortgagor's
inability to pay its debtiors generally as they became due shall auto-
matically without notice accelerate the maturity of all suns of money
herein described and secured, and the same shall thereupon become due
and payable forthwith as fully as if the said aggregate sums of money
were originally stipulated too be paid on such date. -
15. No waiver of any covenant herein or of the obligation
secured hereby shall at any time thereafter be held bD be a waiver of
the terms hereof or of the Note secured hereby.
16. In the event of default in any particular as herein
provided, or should foreclosure proceedings be instituted hereunder on
acc.~ount of any breach or violation of any one or more of the covenants
herein, it is covenanted and agreed that the Nbrtgagee, its suoces~-
sors, legal representatives or assigns, shall immediately be entitled
as a matter of right and without regard too the value of the premises
or of the personal property hereinabove described, or the solvency or
insolvency of the party, and without notice to the Nbrt~gagor, to the
appointment of a receiver for the mortgaged premises, and the rents,
issues and profits thereof, with the usual powers of receivers in such
cases, and the said Irbrtgagor consents that during such receivership
the said receiver may be continued in possession of said premises or
property during the pendency of any foreclosure, and until the time of
sale thereof, or thereunder, and until confirmation of said sale by a
court having competent jurisdiction.
17. It is understood and agreed that the Nbrtgagee may at
any time, without notice to any person, grant to the Abrtagor any
indulgences or forbearance, or any extension of time for the payment
of any indebtedness secured hereby, or allow any change or changes,
substitution or substitutions of any of the property described in this
Mortgage or any other collateral which may be held by the Nbrtgagee
without in any manner affecting the liability of the Mortgagor, any
endorsers of the indebtedness hereby secured or any other person for
the payment of said indebtedness, together with interest and any other
sums which may be due and payable to the irbrtgagee, and also without
in any manner affecting or impairing the lien of this Mortgage upon
the remainder of the property and other collateral which is not
changed or substituted; and it is also understood and agreed that the
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~ lEWIS. VEGOSEN AND ROSENBACH, P.A., AtTORNEYS AT lAW