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Home My WebLink About2803 ~ \ 9 Additional Documents. At ala t~mes tn,s Mortgage ~s ~n eftect, upon Mortgagee s req~est. Mortgagor shaN make, execute and del~ver o~ cause to be made, executed and dehvered to Mortgagee and, where appropnate, shali Cause to be recorded or f~led and thereafter to be re~recorded or refded at such Ume and ~n such alaces as shall be deemed des~ra~!e by Mortgagee any and all such further mortgages. ~nstruments of furtner assurance, cert~t~cates and othe? documents as Mortgagee may cons~der necessary or des~rab!e ~n order to effectuate. complete, enlarge, perfect, or to conUnue and preserve the obl~gaUons of Mortgagor under the Note and th~s Mortgage and all other ~nstruments secw~ng the Note, and the I~en of th~s Mortgage as a f~rst and pr~or I~en upon ail the Mortgaged Property. Upon any ta~iure by Mortgagor to do so. Mortgagee may make, execute, record, t~le, re-record, or refde any and ail such mortgages, mstruments, certficates and documents for and ~n the r~ame oi Mortgagor. Mortgagor hereby ~rrevocabiy appants Mortgagee agent and attorney-~n-iact o! Mortgagor to do all th~ngs necessary to etiectuate or assure compl~ance w~th th~s paragraph. 10. Evant of Default. Ar~y one of the follow~ng shatl const~tute an event of default: (a) Fadure by Mortgagor to pay, as and when due and payabie, any instaUments o( principal or ~nterest due under the Note, or any depos,ts (or taxes and assessments or +nsurance prem~ums due hereunder, or any other sums to be pa~d by MoRgagor hereunder or under any other ~nstrument secunng the Note. (b) Fadure by Mortgagor to duly keep, perform and observe arry other covenant, condit~on or agreement in the Note. this Mortgage. any other ~nstrument secunng the Note or any other ~nstrument collateral to the Note or executecf ~n con~ecUon wrth the sums secured hereby for a penod of 10 days afte? Mortgagee gives written not~ce specifying the breach. (c) If e~ther Mortgagor or any guarantor or endorser ot the Note (i) fdes a voluntary pet~t~on in bankruptcy, (u) is ad~ud~cated a bankrupt or insoiv~ent: or (m) fdes any peut~on or answer seek~ng or acquiescing in any reorgaruzation, management, compos~tion, read~ustment. I~qu~daUOn, d~ssolution or s,m~lar rel~ef for ~tselt under any law relaUng to bankruptcy, insolvency or other rel~e` for debtors, or (w) seeks or consents to or acqwesces m the appointment of any trustee, receiver, master or I~qu+dator of ~tselt or of atl or any substant~al part of the Mortgaged Property or o( any or all of the rents, revenues. ~ssues, earn~ngs, prot~ts or ~ncome thereof, or (v) makes any general ass~gnment for the benef~t of creditors, or (v~) makes any adm~ss~on ~n writing a ~ts ~nab~l~ty to pay ~ts debts generatly as they become due; or (v~~) a court oi competent jurisd~ct~on enters an order. ~udgment or decree approv~ng a pet~Uon f~ted aga~nst Mortgagor or any guaranror or endorser of the Note, seeking any reorgan~zat~on, arrangement, compos~t~on, read~ustment, hqu~daUon, dissolution or simila~ rel~ef under any Rresent or future federal, state. or other statute, law or regulat~on relaGng to bankruptcy. ~nsolvency or other rehei for debtors, wh~ch order, ~udgment or dec~ee ~ema~ns unvaca;ed and unstayed for an aggregate of s~xry (60) days whether or not consecut~ve irom the date of entry thereof; or (v~~~) any trustee, rece~ver or i~qwdator of Mortgagor oi all or any substantial part of the Mortgaged Property or of any or a~i ot the rents. revenues, ~ssues, earn~ngs, profits or ~ncome thereof, ~s appoinied without the pnor wntten consent d Mortgagee, wh;ch appo~ntment shall rema~n unvacated and unstayed for an aggregate of s~xty (60) days whether or not consecut!ve. (d! Any b~each of any warranty or matenal untruth of any representat~on of Mortgagor contained m the Nete, th~s Mortgage or any oth~r mstrument secun~g the NOte. (e} The c~ccurrence of any default under the terms of any mortgage or other secunty ~nstrument wh~ch creates a I~en or other secunty ~nterest on or m!he Mortgaged Property. ~ 11 Acceleration. If an event ot default shall have occurred, Mortgagee may declare the outstand~ng pnnc~pal amount oI the Note a~ ~d the ~nterest accrued thereon, and all other sums secured hereby, to be due and payable immedfately. Upon ~ sucn declaratio~~ s~ch pr~nc~pal and ~nterest and other sums shall ~mmediately be due and payable w~thout demand or notice. ~ 12. Remedies after Oefault. Upon an event of defau!t, Mortgagee may proceed by suit or suits at law or in equity or by any other appropriate proceed~ng or remedy to: (a) enforce payment o~ the Note or the performance of any term hereof or arry other right; (b) toreclose this Martgage and to sell, as an ent~rety or in separate lots or parcels, the Mortgaged Property under the ~udgment or decree of a court or courts of competent jurisdiction: (c) collect all rents, issues, prof~ts, revenue, mcome ; and other benef~ts from the Mortgaged Property; (d) appoint a receiver to snter upon and take possession of the Mortgaged ~ Property and to collect all rents. issues, prof~ts, revenue, income, and other benefRs thereof and apply the same as a court ~ ~ may d~rect a~d such rece~ver shall have alt nghts and powers permitted under law; and (e) pursue any other remedy available ~ ; to ~t ~nclud~ng, but not I~m~ted to tak~ng possession of the Mortgaged Praperty without notice or hearing to MoRg2gor. Mortgagee ~ s shall take acUon either by such proceed~ngs o~ by the exerc~se d its power w~th respect to entry or taking possesion, or both, ~ as Mortgagee may determ~ne. ~ P 13. No Walver. No delay or om~ss~on of Mortgagee or of any holder of the Note to exerc~se any right, power or remedy , accrwng upon any event of detault shall exhaust or impair any such nght, power or remedy or shall be construed to waive ~ F any event of default or to conststute acquiesence therein. ~ ~ 14. Non-Excluslve Remedles. No nght, power or remedy conferred upon or reserved to Mortgagee by the Note, th~s ~ Mortgage or arn other instrument securing the Note ~s exclusi~~e of any other nght, power or remedy, but each and every ~ ~ such right, power and remedy shall be cumulative and concurrent and shall be m add~t~on to any other righi, power and remedy ~ ~ g~~en hereunder or under the Note or any oiher ~nstrument securing the Note. n4w or hereafter exisiing ai law, in eqwty or cy statute. ~ ~ 15. Successors and Ass(gns Bound. Whenever one of the paRies hereto ~s named or referred to here~n, the heirs, ~ successors and ass~gns of such party shall be ~ncluded and all covenants and agreements conta~ned in th~s Mortgage, by or on behatf of Mortgagor or Mortgagee, shall b+nd and inure to th2 benef~ts of th~ir respect~ve heirs, successors and assigns. whether or not so expressed. ~ ~ 16. Mlscellaneous. In the event that any of the covenants, agreements, terms or provisions conta~ned ~n the Note. this ~ ~ Mortgage or any other instrument securing the Noie shall be invalid, illegal or unentorceable in any ~espect, the validity of ~ the remaining covenants. a~reements, terms or provisions contained herein and in the Note and any other ~nstrument secunng ` the Note shall be in no way affected. ~re~ud~ced or d~sturbed ;hereby. ~ 17 Attomey's Fees. The terrr~ "attorney's fees" as used in th~s Mortgage ~ncludes any and all legal fees of whatever nature including. but not lim~ted to. fees resulUng trom any appeat of any interlocutory order or t~ral j~~dgmeni or any other appetlate proceed~ng ansing out of any Iit~gaUon. ~ 18. Future Advances. Th~s Mortgage ~s g~ven to secure not only ex~sUng ~ndebtedness, but also such future advances. ; ~vhether such advances are obligatory or are to be made at the option of t~Aortgagee, or otherw~se, as are made w~th~n f~fteen e y~ears from the date hereof, to the same extent as if such future advances were made on the date ot ehe execution o! th~s ~ Morgage The ~etal amount of indebtedness that may be so secured may decrease or ~ncrease irom time to tfine, but the ~ total unpa~d balance so secured at one t+me shaH not exceed tw~ce the face amount of the Note, plus ~nterest thereon, and ° any d~siwrsements made for the payment of taxes, lev~es or ~nsurance on the Mortgaged Property. w~th ~nterest on such ~ d~sbursements at the Detault Rate, as hereafter def~ned. ~ 19. ObliqaUon of Mo~tgsgor. Mortgagor shall pay the cost of releas~ng or sat~sty~ng th~s Mortgage of record. ~ s • . _ , R BOOK 6~~ P~Gf 2~0~ ~ t ~ _ _ - ~ ~ ~ ~ ~