HomeMy WebLinkAbout0946 9 Additional Documents. At a~~ umes tn~s Mo~tg~ye ~s +n etfect. upon Mortyagee s request. Mortgagor sha~l n~a~c~ ex~~c.u~c>
and del~ver or cause to be n~acie, executed and de!~vered ro t~tortgagee ana, where appropnate. shall cause to be recorded
or h!ed and thereatter to be re-recorded or re~~led at such trme and ~n such places as shall be deerned des~rable by Mortg:~y~.e
any and ali such furtt~er mortgages. ~nstruments o! turther assurance. certif~cates and other documents as Mortyagee may
consrder ner.essary or des~r~ble in order to effectuate, complete. enla~ye. ~ertect, or to conUnue and preserve the obl~gabons
of Mortgagor under the Agreement and th~s Mortgage and a~I other ~nstruments secunng ihe Agreeme~t. anci the I.en o! !I~~s -
Mortgage as a f~rst and prior I;en upon all the Mortgaged Property. Upon any ta~lure by Mortyagor to do so. ~~1r.,rtgagee may
make execute record. hle, re-record, or rehle any and all such m~rtgages. ~r,str~,ments, cert~f~cates anci c1o^uments br ~i~c+.
~n the name of Mortgagoc Mortgagor hereby ~rrevocab?y appoints Mortyagee agent and atrorney ~n tact of h4orti~ac~or to do
a!! th~r,ys necessary to etfectuate or assure compf~ance tiv~th th~s paragraph.
10 Event of Defautt. Any one oi the follo:v~ng shall const~tute an event ot defau;t
Fa~lure by titortgagor to pay, as and wt~en dur~ any payab!e, any ;nsta~iments o! ,~r~nc~pa! or ~nteres? c;ue under tt~e
flgreement, or any depos~ts tor taxes and assessments or ~nsurance prem~ums due hereunder. or any other s~:~rs t~ 1;~; ~,a d
by Mortgagor hereunder or ~nder any other ~nsirument secunng the ~.yreement
(b) Fa~~ure by Martgagor to dufy keep, perform and observe any othe~ covenant. cond~±~on or agre~ment ~n the flyreemen!.
th~s Mortgage any o?her ~nstrument seciinng !he Agreement or any other ~nstrument co,~ateral to tt~e Ayr~~men? or executed
~n conr~ect~o~ ~ti;ih the sums secured hereby for a penod of 10 days after Mortyagee gives wntten not~ce speafy~ng ihe breach
(c) If either Mortgago! o~ any r,uarantor or endorser of !he Agreement f~les a vo!untary pe±ihen in bankruptcy. ~s
ad;ud~cated a hankrt~pt or !nsolvent: or files any G~eUt+on or ansv~~er seek~ng or acqwesc~ng ~n any reorgan~zafon, managemen?.
compos~t~o~. read~ustmer;. I~qu~dation, d~ssolution cr s~rn~lar rel~ef (or ~tse{f under any law relat~ng to hankrup',cy. ~nsclvency
or oiher rel~et for debtors. or (~v) seeks or consents to or acquiesces +n the appo~n?ment ot any trustee, rece,ver. master er
I qu~dator ot ,tself or o! all or any substant~al part of the Mortgaged Property or of any or all of rt~e rents. reven~es, issues.
earrnngs. proi~!s or income thereot, or (v) makes any general ~ss!gnment for the be. ;ef~t of cred~tors or (vi) makes any adm.ss~on
~n vrrrtmg of ~ts ~nat~:hty to pay ~ts debts genera!ly as they become due; or {v~~) a court ot ccmpetent jur,sd~chon enters an order
fudgment or decree approv~ng a pet~tron hled against Mortgagor or any guarantor or erdorser of the Ayreement. seek~rg
any reorgan~zat~on, arrangemcnt. composition, read~ustmen?, !iquidai~on. d+sso!ubor: or s!m~lar rel~ef under ary present o! futu~e
~ederai. state. or other statute, la:+ or reguiat~on re"at~ng to bankruptc~, ~nsolvency or other rel~et for debto{s. wh ch order. ~udgment
or decree remams unvacated ard unsiayed for an aggregate of s~xty (60} days +~~hethe~ or not consecut~ve from the date at
entry thereof; or (v~+~) any trustee. rece~ver o~ Lqu~dator of Mortgagor of ail or any substant~al part of the Mortyaged Property
o~ o` any or aft of the rents. reverues. ~ssues, eam+ny;. pro!~is or ,ncome thereof. ~s appo n;ed ~v~tho~,? !he pror .vr~t?en co~~sen`,
o` Mortyagee. v:h~ch~ ap„omtmer~: shail rema~n unvar.ated and unstayed ior an agy~egate of s~x~y (60) days v:hether o~
consecu'~ve
(dl Any Dreach of ~ny :varr~nty or ma?enai unhu?t~ pf 3ny representa'.~on pf Mor•.g~qor con?~~ned ~n t!~e A.greernen' ?h~-s
P,"o~tgaye or any o?her ~nstrurnen; secur~ng the Agreerr.en?
(e) Tt;e o~ cur~ence of any defau~? under the ter~is o' any rnortyaye or e~her secur:ty ~r~~strumen! :•r~~~~r creates a 1~en ~~r
o~r-~er secur~ty ~nteres<, on or ~n ~he Mortgayed Property
11 AcCeleration. ff an even? of de~a~it s+ia?I have accurred Mortgagee may oec!are t'~e outstand~r~g par.c,pa' amount
o' ?he Ayreement ard the ~nterest acaued thereon and a~i other s,~ms secured hereUy to be d~:e anci payab!e .n~med~a?e~y
U~on such declaat~on such ~nnc~pai and ~nteresi and other sums s~iai~ ~rn,ned,a?ely be due and payab?e tv~iho.i? demard
o~ no~~ce
t2 Remedies after Default. Upon an event of cf?fauit. Morigagee mv, proce~d by su~~ or su cs a~ !a:r or -n equ~ty o~
hy any aiher appropnat~ proceed~ng or remeCy !o (a) entorce paymen? of ±he Agreement or the performa~ce ot any term
1;ereot or any other r~ght: (b) ?oreclose this Mortgage and to sell. as an enhreey or separate lo,s or parceis the Martgaged
Propert~ under ihe ~udgment or decree o' a court or ccurts of corrpetent Junsd ct,on: (c) co!fect a,l re~ts, ;ssues prot~ts, reverue
:~come and othe! E~enef~ts irom the Mor.gaged Prop~rty; (d) appo,nt a rece~:~er !o entcr upon anu take possess on of the
tfortgaged Pro~erry and to co~iect a!I rerts. ~ssues. pro'~is. revenue. ~ncome and other benef~ts thereoi and apply the same
as a court may d~rec! and such rece~ver shall have a~~ r+ghts ~nd pov;ers permdted under ~a~v: and (e) ~ursue any other remedy
ava.~ab!e to ~t ~~clud~ng. but not I~m+ted to iakmg Cossession ot the hlortgaged Properiy w~thout no'~ce cr heanng to D~tortgag~r
h^ortgagee sha!! take ac?!on e!ther by sucf~ p~oceed,nqs or by the exerc~se o! ;;s car:er v:!th resoc-ct :e entry or tak~ng p;~sses on
or i~o!h as Mortgagee may determ~ne
i3 No Waiver. No delay or om;ss~on o` Mortgagee or of any hoide! of the Agreement to exerc~se ary r~~ht par,er or
~emedy accru~ng upon any e~~e~' o` defauit st~a}I exhaust or ~mpe;r any such r~ght. po:~rer o~ remedy or shal; be cons?~ued
?o Na~ve any event of default o~ to constitute acqu~esence there+n
14 Non-Exctusive Remedies. No r~ght, po•;rer or remedy con`erred upon or reserved to P~lortgagee by the Agre~ment
,h~s Mortyage or any other ~ns?r~ment securng thg Agr~~ment is exclus~ve of any o!hnr r~ght po:+er er remedy, but each
and every such r~ght. po~.ve~ and remeoy sha!1 be cumu!ai~ve and concurrent and shail be m add:t~or~ ro any o?her nght. po::~r
a^d rer,edy g~ven hereunder or under tt~e q~reement or a~y other ~nstrumeni secunng the Agreement. ncr.: or herP~!ter er~s!~ng
a' ia:c ~n eqwty or by statute
Successors and Assigns Bound. Whenever one of cr~e part~es f,ere,o ~s ramed c~ r~
`e~red ±o nere~n. !he h~; r;
s~:ccessors and ass~gns of such party s~a!I be +~cluded and ai! co~:~enan?s anct ag~eerner,r.s con+a ned th,s h1ortqnge
o~ on behal( o! Mortgagor or Mortc;agee. shalt h~.nd and ~nure to ihe t~e^e`~ts of ihe~r respecUve he.~s succes~o~s and ~ss_~ns.
;;h~tt~er or not so expressed
'6 Miscellar~eous. In ihe even; tha? any of tf~e covenants agreements. ?e!ms or pro~~,s~ons conta~ned m the Agreement.
'.t~ s MortGage ur any o!her !ns?rumert securing the Agreement sha~l be irna~ d. ~~legal or uner!orceable ~n ~n, r2spec' ',he
~~!~d~ty o` the rema;nmg co~~~enants a~~eements, terms or pro•ns~ons cen~a~ned here,n and ~n the A~reen;en; and ar•~ o"~er
nsrrument secur+ng the Arreement st~a'~ he ~n r,o ::ay aftected. pre~u~:ced or d sturbeci thereby
17 Attomey's Fees. The terrn "attorney's fees'~ as ~sed m th~s Nlortgage ~nctuaes any and a'~ lega' !ees o' :vha!e~e~
nar~t!r= ,nCl;rd~ny, bui nOt !~m~ted t0 `ees resulting frGm any ~~pe8! of any in'erl~CUtO!y o~der Or hn~; :~,~dqm~r~t o~ eny O?he~
~~;Jp~'•'3'E? ~)toC@~d~~!lr~ ;~r,S~RCJ r?';1 Of d'~~ !ing~G~n
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