HomeMy WebLinkAbout0967 TOGETSER with all fiztures, machinery, equipment and
articles of psrsonal property now or hereatter af~ixed to,
placed upon or used in connection with the operation og any
of said properties (eometimes hereinafter referred to as the
"Peraonal Property"). Wheaever requeated by Mortgagee,
Mortgagor will egecute and record at Mortgagor~s eicpense such
financing statements and other inatruments as Mortgagee may
reasonably require in order to ineure that all personal
property now or hereagter owned by Mortgagor and used in
connection with the operation of the Premises covered hereby
shali be sub~ect to the lien created by thia Mortgage and
sha11 be security for the payment of the Notes as herein
provided. Mortgagor shall have the right hereunder and under
said financing gtatements or other chattel instrumente to
replace fiutures or appliances from time to time.with similar
iteme of equal value provided the replacementa are free of
any outstanding ownership interest, Pinancing statements or
encumbrances of any kind in favor of anyone other than
Mortgagee. In the event Mortgagor sha21 fail to execute and
recard chattel instruments as required herein within ten (10)
days after written request by Mortgagee, then Mortgagor
h~reby irrevocably appoints Mortgagee its attorney-in-fact to
execute and deliver~such financing statements or other
instruments in the name of, and on behalf of, Mortgagor;
TOGETSER"with all awards and proceeds of condemnation for
the Premisea or any part thereof to which Mortgagor is
entitled for any taking of aIl or any part of the Premises by
condemnation or egercise of the right of eminent domain. A11
such awards and condemnation proceeds are hereby assigned to
Mortgagee and the Mortgagee is hereby authorized. subject to
the provisiona contained in this Mortgage, to apply such
awards and condemnation proceeds or any part thereof, after
deducting therefrom any expenses incurred by the Mortgagee in
the collection or handling thereof, toward the payment, in
full or in part, of the Notes secured by this Mortgage,
notwithstanding the fact that the amount owing thereon may
not then be due and payable;
TOGETHER with a1Z rents, issues and profita of the
Premises and ali the estate, right, title and interest of
every nature whatsoever of the Mortgagor in a~nd to the same.
Mortgagor wili execute evidences of such assignment and such
further evidences of such assignment as MoPtgagee may from
time to time reasonably request, whict~ evidences shall
include, but not be limited to, such assignments of rents,
issues and profits, in reasonabie form, as Mortgagee may from
time to time request. Mortgagor sha11 pay th~ cost of
recording any such assignment~.
All of the foregoing property, rights, privileges and
f ranchises are collectively referred to as the "Mortgaged
Property."
TO BAVE AND TO HOLD all and singular Premises hereby
conveyed, the tenements, heredita~ments and appurtenances
thereunto belonging or in anywise appertaining and the
reversion and reversion$, remainder and remaindera, rents,
issues and profits thereof and also all the estate, righti
title, interest, property, possesaion, claim and demand
whatsoever ae welZ in law as in equity of the said Mortgagor
in and to the same and every part and parcel thereof unto the
said Mortgagee in fee simple.
PROVIDED ALWAYS that if the Mortgagor 8ha11 pay unto the
Mortgagee any and all indebtedness due by Mortgagor to
Mortgagee including the indebtedness evidenced by the Notes
includin~ any and all renewala of the same and shall perform,
comply with and abide by each and every $tipulation,
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aooK 541 ~~E ~67 ;
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