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Home My WebLink About2228 ~ ! • ' , ~ f i . ~ ~ • _ . . _ • ' ' , , _ ' - r ~ i:, ry - • ~ . . . • ~ • ~ R -s ~ l . . . . r-. . ~ . . . ; ~ . ' ' ~ / i ' ti j ~ • r• : ' ' • ~ ~ ~ ~ . • . . • . . . , , , ` ' ~ i ~ ~ ~•~~°:iP~,.•'~'~ ~ . . . : i..> , 10. The proceeds of a forcclosu~e sale, judici~l~ or ochcrwise, sha11 be; applied: first, to the ~ ' expcnses of advectising ~nd selling, includinR, unlcss prohibited by law, staiutocy or ressonable ' ~ ~ Rttorncys' fees; s~cond, to th~ repaymenc of any money, aith inte~est chtrroe~ ~vbich the Morcaa~ee [ may havr paid or becomc liable to pay or which it m~y then be necessary to pay fo~ taxes, ~ assessments, insurance or other charges, liens or debcs as hereinabove provided; third, to tht ~ ~ _ ~ t:;•,~. payment and sacisfaction of che indebcedness hereby spccially stcured with Interesc; fourth, the balance, iE any, shall be paid co the blort~agor. - . . . . _ . 11. As long as a~y of thc indebtedness hereby secured shall remain unp~id~Mottgagor Mill ~ .neithee ~rammic nor per~ic wasce on the premises or improvemencs subj~ct hereto; s~nd on the ~ ~ ~''~~..comrnis~ion of any wasce thereon the Mortgagee may at.its opciondeclare the entire indebtedneas ` n;~e't+eby seca.ted to 'be~ at oace due and~payable. Nor wiil the Mortgagor, without prlor ~rittea consetrt of Mortga~ee, remo've any of the'fixtuies on the premises hereby conveyed so• ldng' as any ~of•the ~ ~ :n lindeUt `dness,hereby secured shal! remain unpaid. ' ' ' ~ : ~ _ .f d'. ~ i I2, Sub'ect to the ri hts oE an assi nec of the assi nment refened to in Ara rn h 15 hcrtof ° r? ;Y 1 8. Y 8 B P 8 P ~ ' if tha' Mongagor shall make defAUlc in che paymenc of aay indebcedness hcreby seeured or in the " -"perEoranance of any of the `terms~ or conditions hereof, the MoKga'g'ee~ shA~ll tir endded to the in~nediat~ possession.of the mortgeged property and to thr rent, income and profits thet~fcom~ Aad _ ~ ~ay proceed to collect the renc,'income and pro~its from the mortgaged progerty, either with or , without the appointment of a receiver. Any rents, inromes and profits cottected by the Nortgs~gee ~ ~ prior co Eorec losure o f c his in de bce dness, less c he cosc o f co l leccing ch~ same, inelvdiag any real : ' estate commission~or attorneys` Eees incurred, shall be credited first on the advances by Mortgagee ' heteunder witli interest thereoa, then on the interest under the principal debt, and the remainder, ~ iE any, on the principal debt hereby secured. , ~ ~ ' ~ . . ~ 13. AAy prorr~ise made by the Mortgagor herein to pay money may be enfoeccd by a suit at lA~r, • and the security of this Mortgage shalt not be waived thereby, and as to §uch debts thc I~ortbstgor - , waives ali right of exemption under che law. Idorcgagor further agrees chat any and utl rights aaad interests under oc by virtue of laws relating co dower, caurcesy, homescead, community property . widow's support~ distributive share or other similar rights and interests shall be subject and sub- ~ ~ - ordinated to tbis Mo~tgage. • . _ s _ ~ ~d: lf anv nrovision of this Mortgage"shal! be contrary to any applieablc law, such provision ' ~ shell be considertd of no farce and efEect; it being expressiy agrcc~, u~a~:«, u a, ;~:~ai^der ~ ' of this instrumenc shall be valid and binding according to the terms and conditions heteof as ~ modified by an arc~endment or deletion of sucfi provision as may be necessary to bring such provision into conformity with the law, ~ ~ 1S. It is understoc~d and agceed chat an assignment of all ar part of the rentsls duc under ~t - ~ certain lesse upon che premises between Mortgagor, as landlord, and Phillips, as tenant, ia to br ~ sxecuted by the I~dortgagor as additional consideration for the iadebtedness seruccd hercby and ' , simulcaneously ~vith the executeon of chis Mortgage. In the event that this Mort~yage rovars property tocated in che State of Michigan~ any assignee of seid assignment is to bc endtled to, but not limit~d by, all rlghts conferred by Act. No. 2i0 af the l~lechigan Pwblic Acts of 1953 -and all _ benefits under Act No. 17~ of the Michigan Public Acts of 1937: . ~ ~ . , . , • _ ; F Th~ covenants,-conditions and agceements herein conteintd shall bind,"And che bcaefias snd ~ advantages shatl inure to~ the resgective heirs, executots, administrators~ successors and ~asiaeis ~ of the parties hrreto. Whe~ever ussd~ the singuiar numbcr shall irtclade the plural, ehe plural the ~ ~ . r«. s-e.te, • - • • . . ' . _ , , . . . ~ zo~ . ~ . . ~ ~ ~ FAf,f ~ ~ ~ ' ~ , - - • - - ...._.,P.,~~.,~~,.-,~_______ . . .