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Home My WebLink About1005 , r • r • cons~der necessary or des~rable in order to eflectuate, complete, enlarge. perfect, or to cont~nue and preserve the obl~gat~ons d Mortgaqot u~der the Note and this Mortgage and all other ~nstruments secunng Ihe Note, and the hen d th~s Mortgage as a first and prior lien upon ail the Mortgaged PropeRy. Upo~ any la~lure by Mortgagor to do so, Mortgage~ may make, exeCUte, record, file, re-record, or relde any and ail such mortgages, ~nstruments, cert~f~cates and documents for and m the narr~e d Mortgaga. Mortgagor hereby irre~rocably appants Mortgagee agent and anorney-~n~tacl d Mortgagor to ~o a!i th~ngs necessary to effectuate or assure compl~ance w~th th~s paragraph. ~o. EwM a aa~n. Any one d the fdlowing shall const~tute an event of detault Failure by Mortgagor to pay, as and when due and payable, any ~nstailments ot pnnc~pal or ~nterest due under the Na~ pr any deppsits Ipr taxes and assessme~ts or ~nsurance prem~ums due hereunder, or any other sums to be pa~d by _ Mprtgagor hereunder or under any other instrument secunng ihe Note (b) Fa,lure by Mortgagor to duly keep, perform and observe arry other covenant, cond~t~on or agreement m the Note, th~s MoRgaget any othe? instrument secunng the Note or any other ~nstrument coitaceral to the Note or executed m connect~on with the sums secured hereby ta a penod d 10 days after Mortgagee g~ves wntten not~ce specrty~ng the breach. (c) If either Mortgagor or any guarantor or endorser d the Note: tdes a voluntary pet~UOn ~n bankruptcy, (~i) ~s ad~ud+cated a bankrupt or insoiverN: or (iu) fdes any peUtan or answer seeking or acqwesc~ng m any ?eo~ga~uzabon. managemeM. compositron, read~ustment, 1`quidation, d~ssduUOn or sim~lar rel~el tor itself under any law relat~ng to bankruptcy, insolvency or other relief for debtors, or (iv) seeks or consents to or acquiesces m the appantment ot any trustee, rece+ver, master or I~quidator oi ~tself or d all or any substant~al part d the Mortgaged Property or of any or all of the rents, revenues, issues, earnmgs, prdits or income thereof, or (v) makes any general ass~gnment tor the benet~t d c~ed~tors, or (v~) makes any adm~ss~on in wnting d ~is ~nab~l~ty to pay ds debts generalty as they become due: or (w~) a court d competent ~unsd~ct~on enters an order, ~udgmenl or decree approving a petiUon filed agarnst Mortgagor or any guarantor or endorser of the Note, seek~ng any reorganization, arrangement, composition, readjustment, liqwdation, d~ssoluUon or s~m~lar re~~ef under any present or future federal, state, w other statute, law or regulaLOn relahng to bankruptcy. ~nsolvency or other ret~ef tor debtors. wh~ch order, ~udgment or decree remauns unvacated and unstayed tor an aggregate d s~xty (60) days whethe~ or not consecut+ve from the date oi entry thered: or (vui) any trustee, receiver or liqwdator d Mortgagor of atl or any substan?~al part of the Mortgaged Propeciy o~ ol airy or all d the rents, rev~enues, issues, earn~ngs, prdits or ~ncome thereol. ~s appanted wdhout the pr~or wrmen consent ~ Mortsagee. wh~ch appointment shall rema~n unvacated and unstayed for an agyreyate ot s,xty (60) days whether or ~~t c~nsecu:~ve (d) Any breach d any warranty or matenal untru~h of any representat~on of Mortgagor conta~ned ~n the V~:is, th~s Mor;gaGa or arry other mstrument secunng the Note. (e) The occurrence d any delault under the terms of any moRgage or other secNnty ~nstrument wh~c:~ creates a I~en or other security interest on or in the Mortgaged Property. 11. AccN~fatlo~. If an event d detault shall have occurred, Mortgagee may declare the outstand~ng pnitic:na arr~ount d the Note and the inte~est accrued thereon, and all other sums secured hereby, to be due and payab~e ~mmed~ate~y. Upon such declarat~or. such principal and interest and other sums shall ~mmed~ately be due and payable w~thout demand or not~ce. 12. R~n»diM after ON~uR. Upon an event d default, Mortgagee may proceed by su~t or swts at law or in eqwty a y by any Wher appropriate proCeeding or remedy to~ (a) enforce payment of the Note o~ the performance of any term hereot or any other nght: (b) foreclose this Mortgage and to sell, as an ent~rety or in separate ~ots or parcels, the Mortgaged Property under the judgment or decree d a court or courts of competeM ~unsd~cUon; (c) collect all rents, ~ssues, protds. revenue, ~ncome and other benefits from the Mortgaged PropeRy: (d) appant a rece~ver to enter upon and take possess~on d the Mortgaged Property and to collect ali rents, issues, prdits, revenue, income. and other benef~ts thereof and apply the same as a court ~ ~ may direct and suCh receiver shall have ali nghts and powers perm~tted under law: and (e) pursue any other remedy ava~lable i ' ~ to it induding, but not limited to tak~ng possession d the Mortgaged Property wrthout not~ce or hearfng to MoRgagor. Mortgage~e , shall take action either by such proceed~ngs or by the exerc~se d ~ts power w~th respect to entry or tak,ng possesion, or both, ~ as Mortgagee may determine. 13. No Waiwt. No delay or omission d Mortgagee or d any hdder ot the Note to exercise any r~ght, power or remedy accruing upon any event d delauit shaN exhaust or impa~r arry such nght, pqwer or remedy or shall be construed to wa~ve f any eveM d default or to constitute acqwesence there~n. ~ 14. Non-ExClustw R~on~dl~s. No right, power or remedy conferred upon or reserved to Mortgagee by the Note, th~s ~ Mortgage or any other instrument secuiing the Note is exclus~ve d any other nght, power or remedy, but each and every ~ such right, pvwer and rernedy shall be cumulat~ve arxi concurrent and shall be ~n add~t~on to any other nght, pow~er and remedy ~ given hereunder w under the Note or any other mstrument secunng the Note, now or hereafter ewst~ng at law. ~n eqwty or € by statute. ~ ' : ` ~5. $ucc~asprs a~d Ass{~ns Bound. Whenev~er one ot the part~es hereto ~s named or referred to herem, the he~rs, ~ suc~so~5 er~d ass~gns af s~Ch party shall be included and all covenants and agreements conta~ned ~n th~s Mortgage, by or on behatt d Mortgagor or Mortgagee, shaN bind and inure to the benef~ts of the~r respect~ve heirs, successors and assigns, ~ wt~ether or not so exptessed. 16. MIiCNlar~ous. In the eye~t ihat any of the covenants, agreements, terms or prov~s~ons conta~ned ~n the Note, this F Mortgage or any othsr instrument securing the Note sh~ll be ~rnal~d. ~Iiegal or uneNorceable ~n any respect, the val+dty d the remaining Covsnants, agrcements, terms or prw~s~ons conta~ned here~n and ~n the Note and arry other mstrument secunng the Note sha~! be ~n rto way affected, pre~ud~ced or d~sturbed thereby. 17. Attorny's FNS. The term "atterney's fees" as used m th~s Mortgage ~ncludes arn and all lega! (ees d whatever nature inGuding, but not 6mifed ta fees resulUng irom arry appea~ oi any ~nterlocutory order or tmal ~udgment or arry other appeliate proceeding ansing out d any Ii~gaUon. ' 18. Fututi Advane~s. This Mortgage is given to secure not only ex~stmg ~ndebtedness, but also such tuture advances. ; whether such advances are obligatory or are ro be macie at the option d Mongagee, w othenrnse, as are made w~thm t~fteen ~ years from the date hered, to U~e sarne extent as rf such future advances were made on the date d the execut~on d th~s ~ Mortgaga The tWal amount d indebiedness that may be so secured may decrease or increase from bme to time, but the ~ total un~aid belance so secured at one time shall not e~cceed tw~ce the lace amount d the Note, plus mterest thereon, and ~ ~ any disbursements made for the payment d iaxes, lev~es or insurance on the Mortgaged PropeRy, v+nth mterest on such , d~sl~ursements at the Detautt Rate, as hereafter def~ned. ~ ~ 19. OWip~tlon of Nort~por• Mort9a9o~ shall pay the cost o! reieas~ng or saUsty~ng th~s Mortgage of record. ~ ~ € ~ Bo~K ~74 FacE10Q5 ~ ~ ~~I~;,~,~~