HomeMy WebLinkAbout1957session of any portion of the above described premises. [,fidersigned
agrees that it will not assign any of the rents or profits except bo
the purchaser or grantee of the p!re~nises.
Nothing herein contained shall be construed as constituting
the mortgagee a "mortgagee in possession" in the absence of the taking
of actual possession of the said premises by the nartgagee pursuant bo
the provisions hereinafter contained. In the exercise of the powers
herein granted the mortgagee, no liability shall be asserted or en-
forced against the mortgagee, all such liability being expressly waives
ed and released by the undersigned.
grie undersigned further agrees to assign and transfer to the
mortgagee. all future leases upon all or any part of the above de-
scribed premises and to execute and deliver, immediately upon the
request of the mortgagee, all such further assurances and assignment
in the premises as the mortgagee shall from time to time require.
Although it is the intention of the parties that this As-
signment of Rents shall be a present assignment, it is expressly un-
derstood .and agreed, anything herein contained to the contrary rot
withstanding, that the mortgagee shall mt exercise any of the rights
and powers conferred upon it herein until and unless a default shall
occur in the payment of interest or principal due under the Note se-
cured by the above described mortgage or in the performance or obser-
vance of any of the conditions or agreements of any instrument now or
at any time securing said Note or the debt secured or evidenced there-
by or by any extension thereof and nothing herein contained shall be
deemed to effect or impair any rights which the mortgagee may have
under said Note and Mortgage or any other instrument herein men-
tioned.
In any case in which under the provisions of the above de-
scribed Nbrtgage the mortgagee has a right to institute foreclosure
proceedings, whether before or after the entire principal sum secured
thereby is declared to be immediately due, or whether before or after
institution of legal proceedings to foreclose the lien thereof or be-
fore or after sale thereunder, forthwith, upon demand of mortgagee,
the undersigned agrees to surrender bo the mortgagee and the mortgagee
shall be entitled to take actual possession of the premises or any
part thereof personally, or by its agents or attorneys, and mortgagee
in its discretion may, with or without force and with or without pro-
cess of law, enter upon and take and maintain possession of all or any
part of said premises, together with all the documents, books, re-
cords, papers and accounts of the undersigned or then saner of the
premises relating thereto, and may exclude the undersigned, its agents
or servants, wholly therefrom and may as attorney in fact or agent of
the mortgagor, or in its awn name as mortgagee and under the powers
herein granted, hold, operate, manage and- control the premises and
conduct the business, if any, thereof either personally or by its
agents, with full power to use such measures, legal ar equitable, as
in its discretion or in the discretion of its successors or assigns
may be deemed proper or necessary to enforce the payment of security
of the avails, rents, issues, and profits of the premises, including
actions for the recovery of rent, actions in forceable detainer and
actions in distress or rent, hereby granting full power and authority
to exercise each and every of the rights, privileges and powers herein
granted at any and all times hereafter, without notice to the under
signed, and with full power to cancel or terminate any lease or sub-
lease for any cause or on any ground which would entitle undersigned
to cancel the same, to elect to disaffirm any lease or sublease made
subsequent to the aforesaid mortgage or subordinated to the lien
thereof, to make all necessary or proper repairs, decorating, renew-
als, replacements, alterations, additions, betterments and improve-
ments to the above described premises that may seem judicious, in its
discretion, insure and reinsure the same for all risks incidental to
mortgagee's possession, operation and management thereof and to re-
ceive all such avails, rents, issues and profits.
aoox3~4 PaGE1~?
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LEWIS, VEGOSEN AND ROSENBACH, P. A., ATTORNEYS AT LAW
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