HomeMy WebLinkAbout0977 (d) 8zcept as herein~ePore permitted, the actual or F
threatened alteration, demolition or removal of any
building on the.Premises without the written consent of
the Mortgagee.
(e) IP the Improvemen~s on said Premises are not
maintained in reasonably good repair.
(f) Failure to comply with any requirements or
order or notice of violation of law or ordinance iseued
by any governmental department claiming 3urisdiction over
the Mortgaged Property within three (3) months from the ~
issuarice thereof. •
In the event of the passage og any law
deducting from the value of land ~or the purpose of
taaation any Iien thereon, or changing in any way the
tasation of mortgages or debts secured thereby for state
or iocal purposes. -
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~ (h) Failure of Mortgagor to comply with or perforo
any other warranty, covenant or agreement contained ~
herein, the Notes and the Term Loan Agreement.
(i) The transfer, sale, conveyance, mortgage,
leasing, renting, licensing or further encumbrancing of
the Mortgaged Property without the prior written consent
of the Mortgagee.
(j) Any default in the terms and provisions of the
Term Loan Agreement or any other document referred to in
the Term Loan Agreement.
4.Q2 Acceleration IIpon Default, Additional Remedies. In
the event that one or more defaults as above provided shall
occur, the remedies available to Mortgagee sha11 inc2ude, but
not necessarily be 2imited to, any one or more of the
following:
(a) Mortgagee may declare the entire unpaid balance
of the Notes immediately due and payable without notice.
(b) Mortgagee may take immediate possession of the
Mortgaged Property or any part thereof ~which Mortgagor
agrees to surrender to Mortgagee) and manage, control or
lease the same to sueh person or persons and at such
rental aa it may deem proper and collect all the rents,
issues and profits therefrom.
(c) Mortgagee may apply to any court of competent
jurisdiction for the appointment of a receiver or similar
official to a~anage and operate the Mortgaged Property, or
any part thereof, and to apply the net rents and profits
theref rom to the payment of the interest and/or principai
of said Notes and/or any other obligations of Mortgagor
to Mortgagee hereunder. In event of $uch application,
Mort~agor agrees to consent to the appointment of ~uch
receiver or similar officiai and agrees that such
receiver or similar official may be appointed without ;
notice to Mortgagor, without regard to the adequacy of .
any security for the debt and without regard to the
solvency of Mortgagor or any other.persan, firm or
corporation ~ho or which may be liable for the payment of
the Notes or any other obligation of Mortgagor
hereunder.
(d) Mortgagee shall have the right to forecloae
thi$ Mortgage and in case of sale in an action or
proceeding ta foreclose this Mortgage, the Mortgagee
shall have the right to sell the Iiortgaged Property
covered hereby in parts or as an eatirety. It is
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BOOK PACE 9~
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