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~ny Rroperty not reieased purs~~ant thereto, Lender rr~ay at any time and irom time to time, without notice, in whole or
in part, release, discharge, or modify the obligation ot any party I~able for payment of any indebtedness secured hereby,
o~ extend the time for payment for such indebtedness, or agree to after any other terms of payment of such indebtedness ;
or accept additional security of any kind or retease any Property securing such indebtedness or consent to the making ,
of any map or plat for the creation of any easements thereon ar otherv?rise.
19. Intervening Liens. Any agreement hereafter made by Borrower and Lende~ pucsuant to this Mortgage shatl
be superior to the rights of the holder of any intervening lien or encumbrance.
20. Walver. No failure of Lender to exercise any option herein given to declare the maturity of the debt hereby secured
shall be taken or construed as a waiver of its right to exercise such option or to declare such maturiry by reason of any
past, present, ar future default on the parl of Borrower; and the procurement of insurance or the payment of taxes or
other liens, debts, or charges by Lender shall not be taken or construsd as a waiver of its right to declare the maturiry
of the indebtedness hereby secured by ~eason of failure of Borrower to procura such insurance or to pay such taxes, ;
debts, liens or charges. The lien of this instrument shall remain in tull torce and etfect during any postponement or extension ~
of time of payment of any part or aN of the indebtedness secured hereby and during the term of any tuture advances I
made he~eunder.
21. Exemptions. The Borrower agrees not to set up or claim the benefit of curtesy or dower laws, or any exemption
or insolvency taws against any claim of the Lender, for any sum of money which may become due and payabte to it, under
the covenants and agreements of the Note, or of this Mortgage, or any other instrument securing said Note, or against
the securing ot execution of any judgment sought thereon, all of said rights and exemptions being hereby expressly waived.
22. Default. The happeni~g of any of the foltowing events sha41 constitute a default hereunder: (a) a default shall
occur under the Note; (b) failure of Borrower to perform any agreement in this Mortgage or in any other instrument securing
said Note or in any other instrument executed by Borrower in connection with the loan secured hereby; (c) the filing of
a~y petition under the Bankruptcy Code, or any similar federal or state statute, by any Obliqor (which term shall mean
and inciude the Borrawer, each borrov~er, endorser, surety, guarantor, and all others who may become liable for all or
any part of the obligations secured hereby, as well as anyone that owns, from time to time, all or any portion of the Property ~
or any interest therein) or by any Obligor against another Obligor; (d) the filing by anyone other than an Obligor of any
~etition under the Bankruptcy Code, or any similar federal or slate statute, against any Obtigor; (e) the filing in any court
by any person or entity of an application for the appointment of a receiver or trustee to take custody of the Property or
any part thereof; (fl the filing of any application in any court for the appointment of a receiver for the benefit of one or
more creditors, or the making of a general assignment for the beneiit of creditors as to any Obligor; (g) the dissofution,
business failure, merger, consolidation, or reorganization of any Obligor; (h) any warranry, representation, certificate or
statement of any Obligor (whether contained in this Mortgage, the Note, other instruments of security or other instruments
executed in connection with the loan secured hereby) is not true; (i) taking of possession of all or any substantial part
of the Property encumbered by this Mortgage or other instruments of security securing the Note at the instance of any
gavernmental authority; (j) a defauft shall occu~ under or any proceedings are instituted for the foreclosure or collection
of any mortgage, judgment or lien prior or subordinate ta the lien of this Mortgage affecting the Property (including collateral
encumbered by the other instruments ot security tor the Note); (k) a default by Borrower or other Obtigor shatl occur under
any tease or contract affecting all or any part of the Property; o~ (1) should any license or permit in existence on the date
of this Mortgage or any other license or permit necessary for the operation a~d use ot the Property contemplated herein
be revoked or terminated or should any conditions imposed by any governmental authority not be complied with by the
t~me requested by such authority as a condition to non-revocation or non-termination. The enumeration of events of default
u~der this paragraph 22 shall not exclude such other events of default under this Mortgage which are set forth in other
paragraphs.
23. Acceteration. If a monetary detault shai{ occur hereunder and remains uncured for thirty (30) days or more,
; or should a nonmanetary detault occur hereunder and remain uncured for thirty (30) days or more, then, without notice,
ihe full unpaid principal amount of the Note together with all accrued interest shal{ become immediately due and payable
~ ai the option of the Lender as fully and completely as if said aggregate sum were originalty stipulated to be paid at such
time. A monetary default shall be deemed to include failure to make payments of principal, interest and late charges under
E !he Note as well as payments of escraw, taxes and governmental assessments and premiums for insurance under this
~ Mortgage and any security agreement securing the Note. That is to say, upon the breach of any of the terms or covenants
~ hsrein to be performed by the Borrower and the failure of the Borrower to cure such breach within the applicable curative
: period set forth in the preceding sentence, the Lender or holder shall have the right to accelerate the maturity of this
~ 4lortgage as though it were due and payable on ths day foflowino such curative period and to demand payment in full
C ~f the Mortgage amount or any unpaid baiance thereot, and to exercise all the rights and rerr~edies herein or by faw reserved
! to the Lender the same as in any event of default hereunder, anything in the Note secured hereby or herein to the contrary
F not~vithstanding. Notwithstanding anythinQ contained in this paragraph 23 to the contrary, there shall be no requirement
of a curative period as set forth above in the event of any default specified in paragraphs 22(c). (d), (h), (i), (j) or (k) hereof.
€ If the Note secured hereby is a demand note, !he terms and provisions of this paragraph or of any other provision in this
PJlortgage, sha11 not be deemed or interpreted to alter or abrogate the demand nature of the Note or the rights of Lender
under a demand instrument.
, 24. Receiver. In the event a suit is institut~d to forectose or reform this Mortgage or to enforce payment of any
claims hereunder, the Lender shall have the right, at any time pending such su+t, to apply to t~e Court having jurisdiction
thereof for the appointment of a Receiver of atl and s+ngular the PropeRy, and of all rents, profits, income, issues, accounts
receivable and proceeds as assigned hereunder; and upon such application such court shall forthwith appoint a Recaiver
of the Property, all and singular, and of such rents, income, profits, issues and accounts receivable with the usua4 powers
and duties of Receivers in like cases, and such appointment shall be made as a matter of absolute right to the lender
and without reference to the adequacy or inadequacy of the security, or to the salvency or insolvency of the Borrower.
Such rents, profits, income, issues and accounts receivable shall be applied, after payment of the expenses of receivership
and management of the Property by the Receiver aforesaid, according to law and the order and practice of such Court,
arrri atl rents, prafits, income, issues and accounts receivabfe as hereinabove assigned are hereby transferred, assigned,
set over and pledged as further security for the payment oi the mortgage indebtadness, wiih the right on the par4 of the
Fb~,~ , g 46:3 Pa~~ 929
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