HomeMy WebLinkAbout2494BECONE IMrEOIATELY Dl~ AI~ PAYABLE. MD MORTCAGEE MAY. WITHDUT Ft~2TFER t~TICE,
I NSTI TUTE PROCEEDINGS TO F'ORECI.OSE THI S NbRTGAGE MD Ai'Pl_Y FOR APP[)I NTNENT OF A
RECEIVER AS 1-EREINAFTER PROVIOEO.
EIGHTH~ TW1T IN CASE IT SF~OU_D BECONE PECESSARY ON ACOOUMT OF ANY VI0.ATION
OF ANY OF TFE COVENANTS CONTAINE~ 1fREIN TO PLACE THIS MORTGAGE MO TFiE PbTE OR
071~R I I~DEBTEDPESS SECI~E~ FIEREBY OR E I TFER OF Tl-EM I N Tif HAt~DS OF AN ATTORf~EY FOR
COLLECTION, MORTGAGOR DOES HEREBY COVENANT MO AGREE WITH NbRTGAGEE TO PAY ALL
COSTS. CW1R(',ES At~ EXPENSES OF COLLECTING. INCLIAING REASONABLE ATTORt~EY'S FEES,
WFETFER COI.LECTEO BY FORECLOSt~E OR OTFERW I SE .
NI NiH : THAT . I N Tlf EVENT THAT AT TFE BEG I MI I NG OF OR AT ANY T I NE PEt~ I NG
ANY SU I T I~ON TH I S NbRTGAGE . OR TO FOREQOSE I T, OR TO REFORM I T. MD/OR Et~FORCE
PAYNENT ~ ANY CLA I MS FEREU~DER SA I U MORTGAGEE SHALL APPLY TD TFE (bl~tT HAV I NG
Jl~2I SD I C I TON TFf RE~ FOR TFE APPO I NTMENT OF A F~CE I VER , SIK.!-1 COl~2T SHALL F~2TH-
WITH APPOINT A RECEIVER OF SAID N~RTGAGED PROF~ERTY. INCUAING ALL APD SINGILARLY
Tlf INCONE, ISSUES AI~O REVENI~S FROM WF-iATEVER SOla2CE OERIVED, EACH APD EVERY OF
WHICH, IT BEING EXPRESSLY IA~DERSTi00~. IS F~EREBY NdRTGAGED AS IF SPECIFICALLY SET
FORTH MD DESCRIBED IN THE GRANTING AND HABEPDIXM CLAUSES FEREOF. At~ SUCH RECEIVER
SHALL HAVE ALL THE BROAD MD EFFEGTIVE Fl1VCTI~IS AND POWERS IN ANYWISE ENTRU67ED
BY A Gbl~2T TO A F~CEIVER, SUCH APPOINTNENT SFWLL 8E MAOE BY SUCH COU2T AS AN
, ADMITTED EQUITY AND A MATTER OF ABSOt_UTE RIGHT TO I~~IORTGAGEE, AM WITFDUT RE~ERENCE
TO T!-E ADE~UACY OR INADEDUACY OF THE VALI~ OF TFE PROP~RTY I~bf2TGAGE~ OR TO TFE
SOLVEWCY OR INSOI_VENCY OF NbRTGAGOR AND/OR TFf OEFEPDANT, APD SUCFi RENTS, Pf~OFITS,
I NCONE . I SSI~S MD REVEtVI~S SFIAt_L BE APPL I ED BY SIJCH f~CE I VER ACCOFt~ I NG TO Tlf
L I EN AI~/OR EOUI TY OF MORTGAGEE MD T!f PRACT I CE OF Sl1CH COl~2T .
~ 1
TENTH.: IT IS SPECIFICALLY AGREED THAT TINE IS OF Tlf ESSENCE OF THIS CON-
TRACT AND THAT NO WAIVER BY MORTGAGEE OF ANY OBLIGATION FEREU~DQ2 ~ Ti-E 08LIGA-
_~ ,
TION SECl~2ED t-EREBY SFiALL AT ANY TINE TFEREAFTER BE FELD TO 6E A WAIVER OF TFE
, '
TERMS t~EREOF OR OF TFE 08L I GAT I ONS SECl~2ED Ff REBY .
ELEVEfJfH: THAT IN TFE EVENT TFE PREMISES FEREBY NDRTGAGED. OR ANY PART
TFEREOF, SHAI_L BE CQ~~EM~ED MD TAKEN FOR PI~LIC USE t~DER TFE POWFR OF EMIt~ENT
OOMAIN, ALL DAMAGE AWAROED FOR TFf TAKING OF OR OAMAGES TO SAID PREMISES SHALL,
AT Th~E OPT I ON OF NbRTGAGEE , BE PA I D TO NbRTGAGEE , UP TO TFf ANDUNT T}EN I~PA I D
ON THIS NbRTGAGE ANU T1-~E OBLIGATIONS SECURED FEREBY.
Bo~-ii ~~8 P~~2492
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