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Home My WebLink About1536 9. Additbnal Doeuments. At ail t~mes th,s Mongage ~s ~n eftect. upon Mortgagee's request. Mortgagor shaft make. execute and del~ve~ a cause to be macie, executed and del~vs~ed to Mo?tgagee and, where appropnate. shau cause to be recorded or t~led and thereafter to be re-recaded or ret~ied at such t~me and ~n such places as shali be deemed des~rable by Mortgagee any and ail such further mortgages, ~nstruments of further assurance. cert~f~cates and other documents as Mortgagee may cons~der necessary or des~rable ~n order to etfectuate, complete, enlarge, perfect, or to continue ar.d preserve the obl~gat~ons of Mortgagor under the Note and th~s Mortgage and all other instruments secunng the Note, and the I~en d this M~rtgage as a f~rst and pr~or I~en upon all ~he Mortgaged Property. Upon any tailure by Mortgagor to do so, Mortgagee may make, execute, record, hle, re-record, or re(de any and all such mortgages, ~nstrume~ts, cert~f~tes and documents for and m the name ot Mortgagoc Mortgagor hereby ~rrevocably appoints Mortgagee agent and attorney-~n•fact ot Mortgagor to do ail th~ngs necessary to effectuate or assure compl~ance with th~s paragraph. 10. Event of Oehutt. Any one of the fdlowmg shall constitute an event of detault: (a) Fa~lure by Mortgagor to pay, as and when due and payade, any instatlments of pnnc~pai or ~nterest due under the Note, or any depos,ts for taxes and assessments or insurance premiums due hereunder, or arry other sums to be pa~d by Mortgagor hereunder or under arry other ~nstrument secunng the Note. (b) Fadure by Mortgagor to duly keep, periorm and observe any other covenant, condiUOn or agreement in the Note, th~s Mortgage, any other instrument securing the Note or any other ~nstrument collateral to the Note or executed ~n connect~on w~th the sums secured hereby for a penod d 10 days after Mortgagee g~ves wntten notice specrfying the breach. (c) If e~ther Mortgagor or any guaranror or endorser of the Note: (i) t~les a voluntary peUtion m bankruptcy. ~s adjudicated a bankrupt or ~nsolvent; or (i~) files any pet~t~on or anstier seewng or acqwesc~ng in any reorganizaUon, management, compos~tion, readjustment, liquidation, dissolut~on or s~m~lar rel~et for ~tself under any law relating to bankruptcy, insolvency or other rel~el tor debtors, or (~v) seeks or consents to or acqwesces m the appointment d any trustee, rece~ver, master or liqwdator of itself or d alI or arry substaniial part of the Mortgaged Property or of any or all of the rents, revenues, is~ues, earrnngs, prot~ts or ~ncome thereof, or (v) makes any genera~ ass~gnment for the benef~t of creditors, or (vi) makes any admission in writing ot ~ts ~nab~l~ty to pay ~ts debts generally as they become due: or (vn) a court of competent jurisdiction enters an order, judgment or decree app~owng a pet~t~on f~led aga~nst Mortgagor or any guarantor or endorser of the Note, seek~ng arry reorganization, arrangement, composiUon, readjustment, IiqwdaUon, d~ssolution or simdar rel~ef under any present or future federal, state, or other statute, law or regulation relat~ng to bankruptcy, insolvency or other rel~et tor debtors, which order, judgment or decree rema~ns unvacated and unstayed for an aggregate of s~xt~r (60) days whether or not consecu6ve frorn the date d entry thereoi; or (~n~i) arry trustee, receiver or hquidator of Mortgagor of all or any substantial part of the Mortgaged Property or ot any or all d the rents, revertues, issues, earnmgs, prof~ts or income thereot, ~s appointed without the prior wntten consent d Mortgagee, whsch appo~ntment shall remain unvacated and unstayed for an aggregate ot s~xty (60) days whether or not consecutive. (d) Any breach ot any warranty or mater~al untruth of arry represe~tat~on of Mortgagor conta~ned m the Note, this Mortgage or arry other msarument secunng the Note (e) The occurrer?ce of any default under the terms of any mortgage or other security ~nstrument wh~ch creates a 6en or other secunty interest on or in the Mortgaged Property. . ~ . 11. Acceleration. if an event of detault shall have occur~ed, Mortgagee may declare the outstanding princ~pal amount of the ~~ote and the ~nterest accrued thereon, and all oiher sums secured hereby, to be due and payable immed~ately. Upon such declarat~on such pnncipal and interest and oiher sums shall ~mmediate~y be due and payable without demand or not~ce. ~ 12. Remedies aiter Defautt. Upon an event d defauit, Mortgagee may proceed by suit or suits at law or in equity or by any other appropriate proceedmg or remedy to: (a) enforce payment d the Note or the performance of arry term hereof or any other right (b) foreclose this Mortgage and to sell, as an enUrety or in separate lots or parcels, the Mortgaged Property ' under the judgment or decree of a court or courts ot competent jurisdiction; (c) collect all rents, issues, profits, revenue, income I ~ and other benef~ts from the Mortgaged Property; appant a receiver to enter upon and take possessian d the Mortgaged ~ Property and to collect all rents, issues, prof~ts, revenu~, income, and other benef~ts thereof and apply the same as a court ~ may d~rect and such receiver shall have ali nghts and powers permitted under law: and (e) pursue any other remedy available , ro d including, but not lim~ted to taking possess~on d the Mortgaged Property without notice or hearing to Mortgagor. Mortgagee E shall take action either by such proceed~ngs or by the exercise of ~ts pow~er with respect to entry or taking posses~on, or both, ~ as Mortgagee may determ~ne. 13. No Waiver. No deiay or om~ss~on of Mortgagee or of any holder of the Note to exercise a:~y right, pow~er or remedy 6 accru~ng upon arry eveni d default sh31t exhaust or impair any such right, power or remedy or shall be construed to waive ~ arry event of default or to const~tute acqu~esence therein. ~ t4. Non-Exclusive Remedles. No nght, power or remedy conferred upon or reserved to MoRgagee by tne Note, this Mortgage or arry other mstrument securing the Note ~s exclus~ve of any .other right, povver or remedy, but each and every ~ such r~ght, pa~rer and remedy shall be cumulative and concurrent and shall be in addition to any other right, power and remedy ~ g~ven hereundsr or under the Note or any other ~nstrument secunng the Note, now or hereafter exisUng at law, in equity or ~ by statute. ~ 15. Successors and Assl~ns Bound. Whenever one of the paRies hereto ~s named or referred to here~n, the he~rs, ~ successors and ass~gns d such party shall be ~ncluded and all covenants and agreements caniained in this Mortgage, by ~ or on behalf of Mortgagor or lNortgagee, shall bind and inure to the benef~ts of their respective heirs, successors and ass+gns. wnether or not so expresseti. ~ 16. Mlscallan~ous. In the event that any d the covenanls, agreements, terms or provisions contained ~n the Note, this Mortgage or arry other instrument securing the Note shall be invalid, illegal or unerTforceable in any respect, the valid~ty d ~ the rema~ning covenants, agreements, terms or prrnns~ons contained herein and in the Note and arry other instrument secunng tne Note shall be ~n no way aKected. pre~udiced or d~sturbed thereby. 17. Attornr~?'s Fees. The term "attorney's fees" as used m ih~s Mortgage mcludes any and all fegal fees of whatever nature includmg, but not hmited to, fees resul!ing fr~m arry appeal of any interlocutory order or final judgment or any other appellate proceed~ng ansing out of ary GUgation. a 18 Futuro AdvanCes. Th~s Mortgage is given to secure not only existing indebtedness, but also such future advar.ces, ; whether such advances are obl~gatory or are to be made at the opt~on of f~Aortgagee, or otherw~se, as are made w~th~n fifteen ~ years irom the date hereof, to the same extent as rf such future advances were made on the date of lhe execution ot this Mo~;gage. The total amount d mdebtedness that may tse so secured may decrease or mcrease from time to t~me, but the ~ totai unpa~d balance so secured at one Ume shall not exceed twice the face amount d the Note, plus interest thereon, and any d~sbursements made (or the payment ot taxes, levies or insurance on the Mortgaged Property, with ~nteresi on such d~sbursements at the Delault Rate, as hereafter def~ned. 19. Obllgatlon of Mortsagor. Mortgagor shall pay the cost of releas,ng or saUSfy~ng th~s Mortgage of record. ~ f F , . ' , ' , • . BooK674 Pacf1536 i _ - ~3.~~~~w~~~.. v;~.~~