HomeMy WebLinkAbout0962 exercise of its power with respect to entry or taking pos~ession,
or both, as Mortgagee may determine.
14. No Waiver. Any failure by the Hortgagee to insist upon
the strick performance by the Mortgayor of any of the terms and
provisions hereof shall not be deemed to be a waiver of any of
t~4 tci.;.~ u^u Y~~:~~s=~ns hPrc~nf ~nd the Mortgagee, notwithstand-
ing any such failure, shall have the right thereafter to insist
upon the skrict performance by the Mortgagor of any and all of
the terms and provisions of this Mortgage to be performed by the
Mortgagor. Neither the Mortgagor nor any other person now or
hereafter obligatec3 for the payment of the whole or any part of
the sums now ar hereafter se~ured by this Mortgage shall be
relieved of such obligation by reason of the failure of the Mort-
gagee ta comply with any request of the Mortgagar ar of any other
person so obligated to take action to foreclose this Mortgage or
otherwise enforce any of the provisions oF this Mortgage or of
any obiigations secured by this Mortgage, or, by reason of the
release, regardless of consideration, of the whole or any part of
the security held for the indebtedness secured by this Mortgage,
or by reason of any agreement or stipulation between any supse-
quent owner or owners of the Mortgaged Property and the Mortgagee
extending the time of payment or modifying the terms of the Note
or this Mortgage, without first having abtained the written con-
sent of the Mortgagor or such other person; and, in the last
mentioned event, the Mortgagor and alI such other persons shal2
cont~inue liable to make such payments according to the terms of -
any such agreement of extension or modification, unless expressly
released and discharged in writing by the Mortgagee. The Mortga-
gee may release, regardless of consideration, any party liable
upon or in respect of the Mortgage Note or any part of the secu-
rity held for the indebtedness secured by this Mortgage without,
as to any other party or as to the remainder of the security, in
anywise impairing or affecting the lien of this Mortgage or the
priority of such lien over any subordinate lien; and the Mortga-
gee may resort for the payment of the indebtedness secured by
this Mortgage to any other security therefor held by the Mortga-
gee, in such order and manner as the Mortgagee may elect.
15. Non-Exclusive Remedies. No right, power or rernedy con-
ferred upon or reserved to Mortgagee by the Note, this Mortgage
or any other instrument securing the Note is exclusive of any
other right, power or remedy, but each and every such right,
power and rerr~edy shall be cumulative and concurrent and shall be
in addition to any other right, power and remedy given hereunder
or under the Note or any other instrument securing the Note, now
or hereafter existing at law, in equity or by statute.
16. Successors and Assigns IIound; Joint and Several Liabi-
Ii~and ~3enefits. Whenever one of the parties hereto is named
or referred to herein, the heirs, successors and assigns of such
party shall be included and all covenants and agreements con-
tained in this Mortgage, by or on behalf of Mortgagor or Mortga-
gee, shall bind and inure to the benefits of their respective
hei~rs, successors and assigns, whether or not so expressed. The
obligations of benefits granted hereunder shall be joint and
several among m~ltiple Mortgagors and Mortgagees.
I7. Future Advances. This t~",ortgage is given to secure not
only existing indebtedness, but also such future advances, to be
made at the option of Mortgagee, as are made within fifteen (Z5)
years from the date hereof, to the same extent as if such futu~e
advances were made on the date of the execution of this Mort-
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