HomeMy WebLinkAbout0914 this Mortgage or any other instrument securing the Note, or the
Property or any part thereof, including but not limited to the
foreclosure of this Mortgage, or any action to protect the secu-
rity hereof, including all appellate proceedings in connection
with or arising out of any oE the foregoing. All costs, charges
and expenses so incurred or .paid by Lender shall become due and
payable immediately, whether or not there be notice, demand,
attempt to collect or suit pending. The amounts so incurred or
paid by Lender, together with interest thereon at the interest
rate provided for in the Note from the date incurred until paid
by Borrower, shall be added to the indebtedness and secured by
the lien of this Mortgage.
NON-UNIFORM COVENANTS. Borrower and Lender further covenant
~ and agree as follows:
I 19. Acce~eration; Remedies. Upon eorrower's breach of any
covenant or agreement of Borrower in this Mortgage, including the
covenants to pay when due any sums secured by this Mortgage,
Lender at Lender's option may decla~re all of the sums secured by
this Mortgage to be immediately due and payable withou~ further
demand and may foreclose this Mortgage by judicial proceeding.
Lender shall be entit~ed to collect in such proceeding all ex-
penses of foreclosure, including, but not Iimited to, reasonable
attorney's Eees, costs of documentary evidence, abstracts and
title reports. .
20. Future Advances. Upon request by Borrower, Lender,.at
Lender's option within twenty years from the date of this Mort-
gage, may make Future Advances to eorrower.. Such Future Ad-
vances, with interest thereon, shall be secured by this Mortgage.
At no time shall the principal amount of the indebtedness secured
by this Mortgage, not including sums advanced in ~ccordance
herewith to protect the security of this_ Mortgage, exceed the
original amount of the No~e plus US$ 200,000.00. Borrower shall
not execute or record any instrument which limits or impairs
~ Lender's right to make future advances hereunder.
1
` 21. Attorney's Fees. As used in this Mortgage and in the
Note, "attorney's fees" shall also include attorney's fees, if
~ any, which may be awarded by an appeliate court.
22. Cross-Collateralization. In addition to the obliga-
tions described above (as evidenced by the Note or otherwise),
this Mortgage is given to secure any and all obligations of Mort-
' gagor to Mortgagee arising by virtue of any security agreement,
1 promissory note or other agreement between Mortgagor and Mortga-
gee and for all obligations of Borrower to Mortgagee, contingent
or absolute, direct or indirect, regardless of however or when-
ever created.
23. Loan Agreement. Simultaneous with the execution of
this Martgage, the parties have executed a Loan Agreement (here-
inafter referred to as "Loan Agreement"). The Loan Agreement is ~
incorporated in"this Mortgage by reference, and, in the event of
any conflict between the terms hereof and the terms of said '
Agreement, the terms of the latter shall prevail. Any default by
the Borrower of the terms of the Loan Agreement sha11 be deemed a
default under this Mortgage.
24. Mortgaq.e Lien. To protect Lender, in full, the lien of
this Mortgage shall secure the payment of all funds disbursed by
Lender in accordance with the terms of the Loan Agreement, with
interest thereon as specified in the Note, plus all other funds
disbursed by Lender, at its sole discretion, to protect the secu-
rity of the loan, whether or not such funds are in excess of the
amount stipulated in the Loan Agreement and the principal amount
of the Note.
° R 549 ~r,cE 91~ -
900K
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