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Home My WebLink About0993 r~ - _ . . - - . ~ ~~~~!`n~{--=~ ~ ..nr-'I[~. ~ ~ ~ = ins2s ' . . . ~y~~~=' ~ things necessary to eftectualQ or assure compliance with Ihis paragraph. ~ 10. Event of Defauh. Any onQ of lhe folfowing shaii constitute an event of default: ~ (a) Faiture by Morigagur to pay, as and when due and payablQ, any instaltments af ~rincipal er interest due underlhe Note, 1 or any depos~ts for taxes and assessments or insurance premiums due hereunder, or any other s~~ms to be paid by Morlgagor ~ hereunder or under any other inslrumen! securing the hote. (b} Failure by Mo~tgagor to duly keep, perfo~m and observe any other covenant, condition or agreement in the Note, this Morigage, any other instrument securing the Note or any other instrumenl collateral tothe NotQOr executed in connection with tho sums secured hereby for a period ot 10 days a(ter Mortgagee gives written notice specifying the breach. (c) If either R4orlgagor or any guarantor or endorser of the Note: (i) files a voluntary petition in bankruptcy, (ii) is adjudicated a bankrupt or insotvent; or (iii) tiles any petition or answer seeking or acquiescing in any reaganization, management, composition, readjustment, liquidation, dissolution or simila? reliel lor itseli under any law r~lating to bankruptcy, insolvency or other relist for debtors, or (iv) seeks or consents to or acquiesces in the appointment of any trustee, receiver, rr~asler or liquitiator of itself or of all or any substanlial part of the Morigaged Property or o( any or all of the rents, revenues, issues, earnings, proiits or income thereof. or (v) makes any~general assignmenl for the benefit ~ oi creditors, or (vi) makes any adm~ssion in vrriting oi its inab~lity to pay its debts generally as lhey become due; a(vii) ~ a court of competent jurisdiction enters an order, judgment or derree approving a pstifion filed against Morigagor or any ~ guarantor or endorser of the Note, seeking any reorganization, arrangement, composition, readjustment, liquidation, : dissolution or similar reliet under any present or future (ederal, state, or other statute. Isw or regulation relating to . bankruptcy, inso{vency or other reliei tor deblors, which order, judgment or decrse remains unvacated and unstayed (or an aggregats of sixty (60) days whether or not conseculive (rom the date ot entry thereo(; or (viii) any trustee, receiver - , or liquidator of Mortgagor of all or any substantial part of the Mortgaged Property or of any or all of the rents, revenues, issues, eamings, protits or +ncome thereot, is appointed withoui ttie prior written consent of Mortgagee, which appointment shall remain unvacated and unstayed for an aggregate of sixty (60) days whether or not consecutive. (d) Any breach ot any warranty or material untruth of any representation of Mortgagor contained in the Note, this Mortgage ` or any other instrument securing lhe Note. (e) The occur~ence ol any detault under the te:ms ef any mortgage or other securiry inslrument which creates a tien or - ~ other security in[erest on or in the Morlgaged Property. ~ 11. Acceleration. If an event of detault shall have occurred, PJlortgagee may declare the outstanding pri.ncipal amount of ~ ~ the Note and 1he interest accrued thereon, and alf other sums secured hereoy, to be due and payable immediately. Upon such ~ ~ declaration such principat and interest and other sums shall immediately be due and payable without demand or notice. ~ ~ 12. Ramedies after Default. Upon an event of default, Morigagee may proceed by suit or suits at law or in equity or by ~ 4 any other apFropriate proceeding or remedy to: (a) enforce payment of the Note or the pertormance of any term hereof or any ` other right: (b) foreclose this tilorigage and to sell, as an entirety or in separate lots or parcels, the Mortgaged Property under 1he j~idgmenl or decree of a court or courts of compstent jurisdiction; (c} collect a!I rents, issues, profits, revenue, inoomeand ; other benetits from the Mortgaged Property; (d) appoint a receiver ta enter upon and take possession of the Mortgaged ~ ~ Properiy and to collect alt rents, issues, profits, revenue, income, and olher benefits thereof and apply the same as a court may ~ direct and such receiver shall have all rights and powers permiited under law; and (e) pursue any other remedy available lo it ~ 3 including, but not limited to taking possession of the Mortgaged Property without notice or hearing to Mortgagor. Mortgagee ~ ~ snall take action either by such proceedings or by the exercise of its power with respect to entry or taking possession, or both, ~ as Mortgagee may determine. ~ ~ 13. No Waiver. No dela or om~ssion oi Mort a ee or of an hoider of the fVote to exercise an ri ht, ower or reme ~ Y 9 9 Y Y 9 P dY ~ accruing upon any event of default shatl exhaust ar impair any such right, power or remedy or shall be construed towaive any G event o( defautt or to constitute acquiesence therein. - ~ t 4. Non-Excluaive Remsd+ea. ho right, powe~ or iemedy conferred upon or reserved to Mortgagee b~/ ihe Note, this ~ Mortgage o! any other instrumenl securing the Note is exclusive of any other right, power or remedy, but each and every such ~ ~ right, power and remedy shall be cumutative and co~current and shall be in addition to any other right, power and remedy given ~ hereunder or under the Note or any other instrument securing ihe Note, now or hereaiter existing at law, in equity or by statute. I ~ 15. Succeasors aRd A$signa ~ound. Whenever one ot the parties hereto is named or reterred to herein, the hei~s, ~ successors and assigns of such party shall be inctuded and all covenants and agreements contained in this Mortgag2, by or o~ behalf of Mortgagor or Mortgagee, shall bind and in~re to the benefits of their respective he;rs, successors and assigns, ~ whether or not so expressed. ~ 16. MisceHaneous. In !he event ihat any ot the covenants, agreemerts, terms or provisions contained ;n the Note, this Mortgage or any other instrument securing the Note shail be invalid, illegal or uneniorceable in any respect, the validity of the i remaining covenants. agreements, terms or provisions conlained herein and in the (Vote and any other instrument securing the Note shall be in no way affected, prejudiced or disturbed thereby. ~ 17. Attorney's Fees. The term "aitorney's fees'" as used in this Mortgage includes any and all legal fees oi whaiever ~ nature inclutiing, but not Iimited to, fees resutting from any appeal of any inferlocuiory• order or finat judgment or any oiher appellate psoceeding arising out ot any liiigation. 18. Futura Advancos. This Mortgage is g~ven to secure not only existing indebtedness, but atso such future advances, whether such advances are obiigatory or are to be made at tne option of Mortgagee, or otherwise, as are made within fifteen years from the date hereof, to the sarne extent as it such future advances were made on lhe date oi lhe execution of this ~ Mortgage. The total amount of indebtedness that may be so secured may decrease ar increase from timelotime, but thetotal ' unpaid balance so secured at one time shall not exceed twice the face amount of the Note, plus interest lhsreon, and any disbursements made for the payment of taxes, levies or insurance on the Mortgaged Properiy, with interest on such ~ d~sbursemenls at the Defauft Rate, as hereafter defined. ~ f 9. Obligation of Mortgagor. Mortgagor shall pay the cost oi releasing or sa;isiying this Mortgage of record. ~ 20. Nv Transfer, It is understood and agreed by Mortgagor that as part of the inducement to Mortgageeio makethe Ioan ~ evidence~ by the Note, Mortgagee has considered and relied on the credit worthiness and reliability of Mortgagor. Mortgagor covenants and agrses not io sell, convey, transier, lease or furiher encurnber any interesi in or any part of the Mortgag~d Property without the prior wrilten conse~! of ~fortgagee, and any such sale, conveyance, transfer, lease or e~cumbrance 05589~ Hev Feb 8< fIfi021 ~ ~ ~l ' ; ~ 6r 6. ~ II~Vbo , n _ ~