HomeMy WebLinkAbout0974 F
2.09 Suits to Protect the Mortqaqed Property. Mortgagee
shall have the power and authority to institute and maintain any
suits and proceedings as Mortgagee may deem advisable (a) to
prevent any impairment of the Mortgaged Property by any acts
which may be unlawful or any violation af this Mortgage, (b) to
preserve or protect its interest in the Mortgaged Property, and
(c) to restrain the enforcement of or compliance with any
legislation or other governmental enactment, rule or order that
may be unconstitutional or otherwise invalid, if the enforcement
of or compliance with such enactment, rule or order might impair
the security hereunder or be prejudicia~ to Mortgagee.
2.10 Delav or Omission No Waiver. No delay or omission of
Mortgagee to exercise any right, power or remedy accruing upon ~
any Event of Default shall exhaust or impair any such right, i
power or remedy or snall be construed to waive any such Event of ~
Default or to constitute acquiescence therein. Every riqht, 'I
power and remedy given to either Mortgagee may be exercised from
time to time and as often as may be deemed expedient by
Mortgagee.
2.11 No Waiver of One Default to Affect Another. No waiver
of any Event of Default hereunder shall extend to or affect any
subsequent or any other Event of Default then existing, or impair
any rights, powers or remedies consequent thereon. If Mortgagee
(a) grants forebearance or an extension of time for the payment
of any of the Secured Indebtedness; (b) takes other or additional
security for the payment thereof; (c) releases any part of the
Mortgaged Property from the lien of this instrument; (d) consents
to the filing of any map, plat or replat of the Land; (e)
consents to the granting of any easement on the Land; or (f)
makes or consents to any agreement changing the terms of this
instrument or subordinating the lien or any charge hereof, no
such act or omission shall release, discharge or modify this
Mortgage or otherwise of any party liable thereunder or hereunder
or any subsequent purchaser of the Mortgaged Property or any part
thereof or any maker, co-signer, endorser, surety or guarantor.
No such act or omission shall preclude Mortgagee from exercising
any right, power or privilege herein granted or intended to be
granted in case of any Event of Default then existing or o£ any
subsequent ~vent of Default nor, except as otherwise expressly
provided in an instrument or instruments executed by Mortgagee,
shall the lien of this Mortgage be altered thereby. In the event
of the sale or transfer by operation of law or otherwise of a1I
or any part of the Mortgaged Property, Mortgagee, without notice
to any person, firm or corporation, is hereby authorized and
empowered to deal with any such vendee or transferee with
reference to the Mortgaged Property or the Secured Indebtedness,
or with reference to any of the terms or conditions hereof, as
fully and to the same extent as it might deal with the original
parties hereto and without in any way releasing or discharqing
any of the liabilities or undertakings hereunder.
- 2 5 - 800K PA~E