HomeMy WebLinkAbout0988 21. Assignment of Rents; Appointment of Receiver. As ad~~i-
tional security hereunder, Mortgayor liereby as~igns to Lender the
rents of the Property, provided that t~lortgagor shall, prior to
acceleration under paragraph 19 hereof or abandanment of the
Property, have tl~e right to collect and retain such rents as they
become due anc~ payable.
Upon acceleration unc~er Faragraph 19 hereof or abanc~ocunent
of the Froperty, Lender shall be entitlec~ to have a receiver
appointed by a court to enter upon, take possession of anc3 manage
the Property and to collect the rents of the Property, including
those past due. Alt rents collectecl by the receiver shall he
applied first to payment of the costs of management of the
Property and collection of rents, including, but not limited to,
receivers' fees, premiums on receivers' bonds and reasonable
attorneys' fees, an~~ then to the sums secure~3 by this Hortgage.
The receiver shall he liahle to account only for tl~ose rents ~
actually received. Nothinc~ in this paragraph shall l~e construeci
to permit the use of the Property as other t}~an the principal
residence of ~fortqaqor.
22. Release. Upon payn~ent of all sums secure~l t~y this
Mortgage, Lender shall release this '~lortgac~e without cllarge to
Mortgagor. ~
23. Attorneys' Fees. As ~sec3 in this '~lortgage and in the
Note, "attorneys' fees" shall include attorneys' fees, if any,
which may he awarded by an appellate court.
IN WITNESS WHEREOF, Mortgagor has executec~ this ~lortgage.
Signed, sealed and c3e1 iverec3
in the presence of:
~~c~ o~ ~ c tcz_~ C; -~~r_
Mo tga or .
Leonora Koenig
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€ Mortgagor
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