HomeMy WebLinkAbout2811 9 Additiottai DoCUments. At ali umes th+s Mortgage ~s ~n efiecl. upon Mortgagee s request. Mortgagor snali make, execute
and del~ver or cause [o be made. executed and del~vered to Mortgagee and, where appropr~ate, shall Cause to be recorded
or f~led and thereatter to be re-recorded or rehled at such Dme and ~n such places as shaU be deemeti des~rable by Mortgagee
any and all such further mortgages, ~nst~uments of furtner assurance. ce~t~ifcates and other documents as Mortgagee may
cons~der necessary or des~rable ~n order to effectuate, complete, enlarge, perfect, or to contmue and preserve the obl~gat~ons
of Mortgagor under the No;e and th~s Mortgage and atl other ~nstr~,ments secur~ng the Note, and the I~en ot this Mortgage
as a f~rst and pr~or i~en upon ail the Mortgaged Property. Upon any ta~lure by Mortgagor to do so, Mortgagee may make,
execute, record, f~le, re-record. or ref~le any and alt such mortgages, ~nstruments, cert+f~cates and documents for and ~n the
name of Mortgagoc Mortgagor hereby ~rrevocably appants Mortgagee agent and attorney-~n-fact of Mortgagor to do all th~ngs
necessary to eftectuate or assure compl~ance w~th th~s paragraph.
t0. Event of DeMult. Any one of the tollow~ng shall const~tute an event ot defauit:
(a) Failure by Mongagor to pay, as and when due and payable, any ~nstaliments o( pr~nc~pal or mterest due under the
Note, or any depos~ts for taxes and assessments or ~nsurance p?em~ums due hereunder, or any other sums to be pa~d by
Mortgagor hereunder or under any other ~nstrument secunng the Note.
(b) Fa~lure by Mortgagor to duly keep, perform and observe any other covenant, condit~on or agreement m the Noie, th~s
Mortgage. any other instrument secw~ng the Note or any other ~nstrument collaterai to the Note or executed m connect~on
w~th the sums secured hereby for a penod of t0 days atter Mortgagee g~ves wrRten noUce specify~ng the breach.
(c) If e~ther Utortgagor or any guarantor or endorser of the Note: f~les a voluntary peUt~on in bankruptcy. (n) is ad~ud~cated
a bankrupi o~ msolvent; a(~~~) hles any pet~t~on or answer see{ung or acqwescing in any reorgan~zation, management, compc~s,t~on.
read~ustment. I~qwdation, d~ssoluc~on c~r s~m~iar rei~ef tor ~tself under any Iaw relatmg to bankruptcy, insolvency or other rehef
for debtors, or (~v) seeks or consents to or acqwesces ~n the appomtment of any trustee, receiver, master or IEquidator of ~tself
or of all or any substant~al part oi the Mortgaged Property or of any or all of the rents, revenues, ~ssues, earn~ngs, prof~ts or
~ncome thereof. or (v) makes any general ass~gnment (or the benef~t of cred~tors, or (v~) maices any admission ~n wni~ng of
~ts ~nab~l~ty to pay ~ts debts generauy as they become due; or (v~~) a court of competent ~urisd~ction enters an order, judgment
or decree approv~ng a pet~t~on f~led aga~nst MoRgagor or any guarantor or en~orser of the Note, seeking arry reorgarnzat~on,
arrangement. composition. read~ustment, I~quidation. dissolution or s~m~lar rel~ef under any present or future federal, state, or
other statute, law or regulat~on retat~ng to bankruptcy, ~nsolvency or other rel~ef for debtors, which order, judgment or decree
remasns unvacated and unslayed for an aggregate ot s~xEy (60) days whether or not consecutive from the date of entry thereof;
or (w~~} any trustee, rece~ver or I~qwdator d Mortgagor of all or arry substantial part of the Mortgaged Property or of arry or
atl of ihe rents. revenues, ~ssues, eam~ngs, prof~ts or income thereof. ~s appointed without the pr~or written 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 breach ot any warranty or matenal untruth of any representat~on of Mortgagor conta~ned ~n the Note, th~s Mortgage
or any other ~nsirument seCUnng th2 Note
(e~ Tne occurrence of any defauit under the terms ot any mcrtgage or other secunty ~nstrument wh~ch creates a I,en or
other securrty ~nterest on or ~n the Mortgaged Property ,
1? Acceleration. If an event of defautt shal have occurred, Mortgagee may declare the outstandmc~ pnnc~pal amount I
of the Note and the mterest accrued thereon, and ail other sums secured hereby. to be due and payable immed~ately. Upon
such declarat~on such pnnapal and ~nterest and other sums shall immed~ately be due and payable without demand or notice_ ~
t2. Remedies atter Default. Upon an event of default, Mortgagee may proceed by suit or s~,~ts at law or in equity or
by any other appropnate proceeding or remedy to: (a) enforce payment of the Note or the periormance of any term hereof '
I, or any other right: (b) foreclose this Mortgage and to sell, as an entirety or in separate lots or parcels, the Mortgaged Property
f under the ~~dgmer~t or decree of a court or courts ot competent ju~isd~ction; (c) coliect all rents, issues, profits, revenue, ~ncane
~ and other benef~ts from the Mortgaged Property; (d) appant a receiver to enter upon and take possession ot the Mortgaged
~ ProRerty and to collect all renis, issues, prof~ts, revenue, income, and other benef~ts thereo~ and apply the same as a court
may d~rect and such rece~ver shatl have ali nghts and powers perm~tted under law; and (e) pursue any other remedy available
~ to d mcludmg, but not lim~ted to taking possess,on cf the Mortgaged Property ~nnthout notice or hearing to MoRgagor Mortgagee
~ shall take act~on either by such proceed~ngs or by the exerc~se of ~ts power with respect to entry or taking possesion, or both,
, as Mortgagee may determ~ne.
~ 13. No WaFver. No delay or om~ss~on of Mortgagee or of any holder of the Note to exercise any nght, power or remedy
; accrwng upon any event of defautt shall exhaust or ~mpair any such right, power or remedy or shall be construed to wa~ve
~ anv ev~:~t of d~ault or to const~tute acqu~esence therein.
~ 14. Nor~-Excluslve Remedies. No right, power or remedy conferred upon or reserved to Mortgagee by the Note, this
~ Mortgage or ar~y other ~nstrument securing the Note ~s exclus~ve of any other right, power or remedy, but each and every
such nghr, p~r and remedy shal? be cumulative and concurrent and shali be ~n add~t~on to any other right, power and remedy
g~ver hereunder or under the Note or any other instrument secu,~ng the f~ote, now or hereafter exist~ng at law, in equity or
by statu!e.
15. Successors and Assigns Bound. Whenever one of the part+es hereto ~s named or referred to herem. ths he~rs,
~ successors and assigns of such party shall be ~ncluded and atl covenants and agreemenis con:a~ned in this Mortgage, by
o~ on behatf of Mortgagor or Mortgagee, shall b~nd and ~nure to the benef~ts of their respective he~rs, successo;s and ass,gns.
~ whether or not so expressed.
~ 16. MisCellaneous. In the event that any of the covenants, agreements. terms or prov~s~ons contained in ihe Note, this
Mortgage or any other mstrument securing the Note shall be invalid, ~Ilegal or unen(orceable in any respect, the va6d~ry ot
the remairnng covenants, agreements, terms or provisions coniained herein and in the Note and arry other inst~ument secunng
the Note shall be ~n no way affected, prejud~ced or d~sturbed thereby.
t7. Attomey'a Fees. The term "attorney's fees" as used in thfs Mortgage includes any and all legal fees of whateve~ ~
nature inciuding, but not I+m~,ed to, fees resulting from arry appeal d any interiocutory ord2r or fir.al judgment or arry other ~i
; appellate proceed~ng ar~sing out oi any iitigation. i
F 18. Futuro Advsnces. Th~s Mortgage is g~ven to secure not only existmg ~ndebtedness, but also such future advances, i
~ whether such advances are obl~gatory or are to be made at the option of t~Aortgagee, or otherw~se, as are made w~th~n f~fteen
~ years from the date hereof, to the same extent as if such future advances were made on the date ot the execution of this
~ Mortgage. The total amouns ot ~ndebtedness that may be so secured may decrease or increase from time to Ume, but the
~ total unpaid balance so secured at one time shall not exceed tw~ce the face amount ot the Note,
plus interest thereon, and
arry disbursements made tor the payment d taxes, !evies or insurance on the Mortgaged Property, with interest on such
~ d~sbursements at the Defauit Rate, as hereafter defined.
~ 19. Obll~atlon of Mo~t~ayor. Mortgagor shall pay the cost of releas~ng or sat~sfy~ng this Mortgage d record. I
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