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HomeMy WebLinkAbout0930 and the solvency or insolvency of Mortgagor, or any Guarantor, and any other persons liable to pay such indebtedness. Mortgagor hereby specifically waives the right to object to the appointment ~ of a receiver as aforesaid and hereby expressly consents that such appointment shall be made as an admitted equity and that the same may be ~one without notice to Mortgagor; or ' - (iii) Receiver: Mortgagee, without regard to the ~ value or occupancy o~tfe Mortgaged Property or the solvency of Mortgagor or any Guarantor, with or without notice to Mortgagor or any Guarantor, shall be entitled as a matter of right, if it so elects, to the appointment of a receiver to enter upon and , take possession of the Mortgaged Property and to collect all rents, revenues, issues, income, products and profits thereof and - apply the same as the court may direct. The receiver shall have all rights and powers permitted under the laws of the state where the Mortgaged Property is located and such ot~er powers as the court making such appointment shall confer. The expenses, including receiver's fees, attorney's fees, costs and agent's compensation, incurred pursuant to the powers herein contained shall be secured by this Mortgage. The right to enter and take possession of and to manage and operate the Mortgaged Property, and to collect the rents, issues and profits thereof, whether by a receiver or otherwise, shall be cumulative to any other right or remedy hereunder or afforded by law, and may be exercised concurrently therewith or independently thereof. Mortgagee shall be liable to account only for such rents, issues and profits as are actually received by Mortgagee. Notwithstanding the appointment of any receiver or other custodian, Mortgagee shall be entitled as pledgee to the possession and~control of any cash, deposits, or instruments at the time held by, or payable or deliverable under the terms of this Mortgage to Mortgagee. (c) Mortgagee shall have the right, from time to time, ~ to bring an appropriate action to recover any sums required to be paid by Mortgagor under the terms of this Mortgage, as they ' become due, without regard to whether or not the principal indebtedness or any ~other sums secured by the Note and this ' Mortgage shall be due, and without prejudice to the right of ~ Mortgagee thereafter to bring an action of mortgage foreclosure, ~ or any other action, for any default by Mortgagor existing at the ` time the earlier action was commenced. E ~ (d) Mortgagee shall have the power and authority to ~ institute and maintain at any time and from time to time any E suits and proceedings as Mortgagee may deem advisable (i) to ! prevent any impairment of the Mortgaged Property by any acts ~ which may be unlawful or any violation of this Mortgage, (ii) to ~ preserve or protect its interest in the Mortgaged Property, and ~ (iii) to restrain the enforcement of or compliance with any ~ legislation or other governmental enactment, rule or order that ~ may be unconstitutional or otherwise invalid, if the enforcement - of or compliance with such enactment, rule or order might impair ~ the security hereunder or be prejudicial to Mortgagee's interest. ~ (e) Any real estate sold pursuant to any writ of ~ execution issued on a judgment obtained by virtue of the Note or ~ this Mortgage, or pursuant to any other judicial proceedings ~ under this Mortgage or the Note, may be sold in one parcel, as an ~ entirety, or in such parcels, and in such manner or order as - Mortgagee, in its sole discretion, may elect. Upon any such " foreclosure sale, Mortgagee may bid for and purchase the Mortgag- ' ed Property and, upon compliance with the terms of sale, may ~ hold, retain, possess and dispose of such Property in its own absolute right without further accountability. Mortgagee is hereby authorized, at its option, to conduct any such foreclosur~ ~ sale subject to the rights of any tenants of the Mortgaged Property, and the failure to make any such tenants parties ~ defendant to any such foreclosure proceedings and to foreclose _ ~ ~ f~R ~ - ~ ~ - :~;~x417 Pa~ 929 E ~ ~ ..~w,>...2~~ ~ . . . . - _ _ -