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HomeMy WebLinkAbout0974 ~ . ~ # ~ ~ this Mortgage or the Notes or on account of any attempt. ~ without litigation, to enforce the terma of this Mortgage or said Notes. In case the Mortgaged Property or any part ~ thereof aha11 be advertised for Poreclosure sale and not sold, Mortgagor ehall pay all costs in coanection therewith. In the event that the Mortgagee ie cailed upon to pay any sums of money to protect this Mortgage and the Notee secured hereby as aforesa3.d, all monies advanced or due hereunder shali become immediately due and payable, together with interest at a rate of interest which is four percentage points above th~ rate of the Notes secured hereunder, computed from the date of such advance to the date of the actual receipt of payment thereof by the Mortgagee. 1.14 Attorneys' Fees. In the event this Mortgage is placed in the hands of an attorney for the collection of any ~ sum payable hereunder, the Mortgagor agrees to pay all costs of collection, including reasonable attorneys' fees, incurred by the Mortgagee, either with or without the institution of any action or proceeding, and in addition to a11 costs, disbur$ements and allowances provided by law. The Mortgagor further agrees to pay all attorneys' fees and costs incurred by Mortgagee as a result of being a party to any Iitigation because of Mortgagee's status ag a mortgagee whether such litigation is meritorious or not. All such costs so incurred ahall be deemed to be secured by this Mortgage. 1.15 Survival of Warranties. To fully and faithfully - satisfy and perform the obligations of Mortgagor contained in any Buy and Sell Agreement, the Mortgagor's loan application and Mortgagee's loan commitment, and any such application ~nd commitment between Mortgagor and any asaignee of Mortgagee, E~ and each agreement of Mortgagor incorporated by reference ~ therein or herein, and any modification or amendment thereof. All Yepresentations, warranties and covenants of Mortgagor containEd therein or incorporated by reference shail survive the close of escro~ and funding of ~he loan evidenced by the Notes and ahall remain continuing obligations, warranties and representations of Mortgagor durin~ any time when any portion of th~ obligations secured by this Mortgage remain outstanding. 1.16 Cross-Default. In the event Mortgagee at any time holds additional security for any of the obligations secured hereby, it may declare a default and sell the other security at its option, either before or concurrently herewith or after a sale is made hereunder. 2.17 .Inepections. Mortgagee, or its agents, representatlves or workmen, are authorized to enter at any reasonable`=.time upon or in any part of the Premises for the purpose 'of inspecting the sa.me and for the purpose of performing any of the acts it is author ;zed to perform under the terms of this Mortgage. 1.18 Liens. Mortgagor shall pay and promptly discharge, ~ at Mortgagor~s cost and espense, all liens, encumbrances and ; charges upon the Mortgaged Property or any part thereof or ~ interest therein. Mortgagor shall have the right to contest ~ in good faith the validity of any such lien, encumbrance or I charge, provided Mortgagor shall first deposit with Mortgagee ! a bond or other security satisfactory to Mortgagee in such - amounts as Mortgagee shall rea$onabiy require, but not more than one and one-half times <150X) of the amount of the clai.m. Any further encumbrance of the Mortgaged Property shall be subject to the prior written consent of the Mortgagee. . - 9 - aooK 541 ~~E 97~ ~ - .