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~~f any past, present, or future default on the part of Bomower; and the procurement of insurance or the payment of taxes or
c,ther liens, debts, or charges by Lender shall not be taken or construed as a waiver af its right to declare the maturity af any
indebtedness hereby secured by reason of failure of Bormwer to procure such insurance or to pay such taxes, debts, liens or
charges. The lien uf this instn~ment shall remais in ful] foi~ce and et'lect during any postponement or extension of time of
E~ayment of any part or all of any indebtedness secured hereby and during the term of any future advances made hereunder.
15. Exemptions. Borrower agrees not to set up or ctaim the benefit of curtesy or dower la~s, or any exemption or ~
insol~~ency laws aRainst anY claim of Lender, ~r ~ny~u~ c~ mpn~ v~hich may become due and psyable to it, under the ~
covenants and agreements of the Credit Agreement, or of this Mortgage, or against the securing of execution of any judgmeni
~.ought thereon, all of said rights and exemptions being hereby expressly waived. ~
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16. Default. The happening of any of the foliowing events shall constitute.a default hereunder: (e) a default shall occur '
iinder the Credit Agreement; (b) failure of Borrower to perform any agreement in this Mortgage or the ~irst Mortgage; (c) any
Obiigor (which term shall mean and include the Borrower, each borrower, endorser, surety, guarantor, and all others who may ~
become lisble for all or any part of the obligations sec~~red hereby, as well as enyone that owns, from time to time, all or any
~~ortion of the Property or any interest therein) becomes involved in bankruptcy or insolvency proceedings; (d) further
encumbering all or any part of the Property, except in fhvor of Lender, ~thout Lender's prior written consent; (e) any warranty,
representation, certificate or statement of any Obligor (whethec contained in this Mortgage, the Credit Agreement, or other t
instruments ~xecuied in connection with the revolving line-of-credit secured hereby) is not ttue; (f) taking of possession of all
~r an~~ substaniial part of the Property encumbered by this Mortgage at the instance of any governmental authority: (g) a
default shall occur under or any proceedings ar8in~ituRe~~oQtt~ fo~iec~osure or collection of any mortgage, judgment or lien -
;,rior or s~bordinate to the lien of this Mortgage affecting the Property. The enumeration of events of default under this
E~aragraph 16 shall not exclude such other events of default under this Mortgage which are set forth in other paragraphs.
17. Acceleration. If a default shali occur hereunder, then, without notice, any and all outstanding sums secured by this
~tortgage, tugether with all accrued interest, shall become immediately due and payable at the option of the Lender as fully ~
and compietely as if said aggregate sum were originslly stipulatec! to be paid at such time. That is to say, upon the breach of any
t he terms or covenants herein to be performed by Borrower, Lender or holder shall have the right to accelerate the maturity ~
~f t his h9ortgage as though it were due and payable at such time and to demand payment in full of any and all outstanding sums
~t~cured by this Mortgage, and to exercise all the rights and remedies Rerein or by law reserved to Lender the same as in any ~
e~~ent of default hereunder, anything in the Credit Agreement secured hereby or herein to the contrary notwiihstanding.
18. Costs and Attorneys' Fees. Borrower~sh~lt ~a~and r$im~burse Lender for ail costs, charges and expenses,
i~~r(uding reasonable attorneys' fees (inctuding t~ose on a}3pea1)
incurred by Lender in enforcing its rights under the Credit
.-~hreemen[ or this ;llortgage.
19. Transfer of Property. If all or any part of the Property or any interest therein is 5old or transferred by Borrower ~j
~t ithout Lender's prior written consent, Lender may, at Lender's option, and without notice to Borrower, declare any and all ~
~~~_~tstanding sums secured by this Mortgage to be immediately due and payable.
20. Proceeds of Claims. Awards, and Sales. All monies, other than proceeds of foreclosure saie or other transfer of
title to the Property in extinguishment of any outstanding sums secured by this Mortgage, which are paid to, collected or
received by Lender in connection wit~ or as the proeeeds of insuranee loss claims, condemnAtion awards, or sales as provided
uncier the terms of this Mortgage, shal! be applied by Lender as follows: first, to payment of Lender's costs and expenses, real "
e~tate commissions and attorneys' fees incurred therewith; second, to payment to Lender of interest, at the highest legal rate
t>ermitted b~• law to be charged by Lender, on s~jd ~stc fe~r~he,da~e absuch expenditures; and third, at option of Lender to
+a) restoration or repair of the Pmperty, if applicable, or (b) to payment of interest due on any outstanding sums secured by
?his :~'Iortgage, and the remainder, if any, to any such outstanding sums.
21. Proceeds of Foreclosure Saie. If this ytortgage is foreclosed by a proper suit and the Property is sold to satisfy a
decree of forectosure, the pmceeds of such sale shall be applied as follows: first, to the expenses and costs incurred hereunder, ~
including reasonable attorneys' fees for such services as may be necessary in the collection of any outstanding sums and Lhe
f~>reclosure of this 1~iortgage: second, to the payment of whatever sum or sums the Lender may have paid or become liable to
f~a~• in carrying out the terms and stipulations of this Mortgage, together with interest thereon; and finally, to the payment and
~atisfaction of any outstanding sums advanced in accordance with the Credit Agreement. The batance, if any, shall, unless the
l'uurt decrees othervvise, be paid into the registry of the Court ha~-ing jurisdiction of said foreclosure suit, to abide the further
~ ~rder of said Court. ~
22. Notice. Any written notice, deman~or~eq`llie~t Ma~istrreq~ired to be made hereunder or under the Credit
:1;,~reement shall he served in pecson or by mail, addressed to the party to be served at its address set forth in the Credit
:1~;reemeni or any other address the ser,der may have been instructed to use.
23. Severability. ~ti'herever possib?e, each provision of this Mortgage shall be interpreted in such manner as to be
~ ifective and valid under applicable law~, but if any provision hereof shall be prohibited or invalid under applicable [aw, such
,irr,vision shall be ineffective to the extent of such prohibition or invatidity only, without im-alidating the remainder of such
~,r~,ri;ion~ or of the remaini~?g pro~•isions of this Mortgage.
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