HomeMy WebLinkAbout0341appoint such receiver with usual powers and duties of rec-
eivers in like cases; and said appointment shall be made by
the court as a matter of strict right to the Mortgagee, and
without reference to the adequacy or inadequacy of the value
of the property hereby mortgaged, or to the solvency or
insolvency of the Mortgagors or any other party defendant to
such suit. The Mortgagor hereby specifically waives the
right to object to the appointment of a receiver as afore-
said and hereby expressly consents that such appointment
shall be made as an admitted equity and as a matter of
absolute right to the Mortgagee and that the same may be
done without notice to the Mortgagor.
5. If foreclosure ~roceedings should be instituted
against the property covered by this mortyage upon any other
lien or claim whether alleged to be superior or junior to
the lien of this mortgage and such lien remains ~ lien on
the~property for a period of thirty (30) days thereaftPr or
said proceedings remain pending after said thirty (30) day
period expires, the Morgagee may at its option immediately
upon institution of such suit or during the pendency thereof
declare this mortgage and the indebtedness secured hereby
due and payable forthwith and may at its option proceed to
foreclose this mortgage.
6. To pay all and singular the costs, charges and ex-
penses, including all attorney's fees and abstract costs,
reasonably incurred or paid at any time by the Mortgagee
because of the failure of the Mortgagor to perform, comply
with, and abide by each and every of the stipulations,
agreements, conditions, and covenants of said promi'ssory
note and of this mortgage, or either.
7. That the Mortgagor will keep al~~'real and personal
property r.ow or hereafter encumbered by the lien of this
mortgage insured as may be required £rom time to Lime ny tne
Mortgagee against loss by fire, windstorm and ~other hazards,
casualLies and contingencies for such periods and for not
less than such amounts as may be required by the Mortgagee
and to pay promptly when due all premiums for such insur-
ance. The amounts of insurance reyuired by the Mortgagee
shall be the minimum amounts for which said insurance shall
be written and it shall be incumbent upon the Mortgagor to
maintain such additional insurance as may be necessary to
meet and comply fully with all co-insurar.ce requirements
contained in said policies to the end that said riortgagor is
not a co-insuror thereunder. Insurance shall be w~itten by
a company or companies approved or designated ~y the Mortgagee
and all policies and renewals thereof shall be held by the
Mortgagee. All detailed designations by the Mortgagor which
are accepted by the Mortgagee and all agreements between
Mortgagor and Mortgagee relating to insurance, now existing
or hereafter made, shall be in writing and shall be a part
of this mortgage agreement as fully as though set forth
verbatim herein and shall govern both parties hereto and
their successors and assigns. No lien upon any of said
policies of insurance or upon any refund or return premium
which~may be payable on the cancellation or termination
thereof, shall be given to other than the Mortgagee, except
by proper en3orsement affixed to such policy and approved by
Mortgagee. Each policy of insurance shall have affixed
thereto a Standard New York Mortgagee Clause without Con-
tribution, making all loss or losses under such policy
payable to the Mortgagee as its interest may appear. In the
event any sum or su~s of money become payable there~inder
~~ 353. Fa~ 340
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