HomeMy WebLinkAbout0972 (h) That if any of said sums of money herein referred
to be not promptly a~d fully paid within fifteen (15) days next
after the same severally become due and payable, or if each and
every stipulations, agreements, conditions and covenants of said
Promissory Note or Notes and this beed, or either, are not fully
performed, complied with, and abided by, or if all or any part of
the proper~y or an interest therein is sold or transterred without
Mortgagee's prior written consent, the said aggregate sum secured ~ "
by this Mortgage shall become due and payable forthwith or j
thereafter at the option of the Mortgagee as fully and completely ~
as if the said aggregate sum was originally stipulated to be paid ~
on such day, anything in s~id Promissory Note or Notes or herein
to the contrary notwithstanding.
(i) That in order to accelerate the maturity of the
indebtedness hereby secured, because of the failure of the ~
Mortgagor to pay any tax, assessment, liability, obligation or ~
encumbrance upon said property, as herein provided, it shall not ;
be necessary nor requisite that the Mortgagee shall first pay the ;
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same. ~
2. The lien hereof shall extend to and include the use, ~
rents and profits of said mortgaged property, but the Mortgagor '
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shall have the right to remain in possession, enjoy the use, and
receive the rents and profits thereof, without accounting to the ;
Mor.tgagee there£or, so long as there shall be no default ;
hereunder, provided that in the event of any such default i
hereunder for a period of fifteen (15) days, the Mo.rtgagee shall ~
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be entitled to the possession and use of said mortgaged property, ~
and to receive and apply the net rents and profits thereof, upon
and toward the payment of the indebtedness hereby secured.
3. In the event there shall be filed a complaint to
foreclose this Deed, the plaintiff shall immediately and without
notice be entitled to the appointment of a receiver for the
mortgaged property and the rents, earnings, issues, income and
profits thereof, with the usual power of receivers in such cases,
and such receiver may be continued in possession of said property ~
and of said rents, earnings, issues, income and profits or said
property during the pendency of such foreclosure suit, and the ;
Mortagor hereby specifically waives the right to object to such ;
appointment and consents that such appointment shall be made as an ±
admitted equity and as a matter of absolute right to the
Mortgagee, and without reference to the adequacy or adequacy of
the value of the mortgaged property or to the so2vency or
insolvency of the Mortgagor or any other party defendant to such
suit.
4. No sale of the property hereby mortgaged and no
~ forbearance on the part of the Mortgagee, and no extension of the
' time for the payment di the debt hereby secured given by the
Mortgagee shall operate to release, discharge, modify, change or
~ affect the original liability of the Mortgagor herein either in
~ whole or in part, and shall not be a waiver of Mortgagee's right
' to accelerate the aggregate sum secured by this Mortgage.
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5. The lien of this Deed secures and shall continue to
secure payment of said indebtedness or indebteelnesses, however
evidenced, whether by said Promissory Note or Notes or any renewal
or extension thereof or substitute therefor, or otherwise, until
all sucn indebtedness shall have been fully paid.
6. The Mortgagee shall have the right to enforce the lien
of this Mortgage against all of the mortgaged property and to
cause all of said mortgaged property to be sold for payment and
satisfaction of any decree of foreclosure without any right of
Mortgagor or those claiming under Mortgagor to any marshalling of
liens, exonerations of security or other similar rights or
I remedies.
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