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HomeMy WebLinkAbout2821 i 9 Additlonal Oocuments. At a11 t~mes th~s Mortgage ~s ~n etfect. upon Mortgagee's request. Mortgagor shall make, execute and del~ver or cause to be made. executed and detrvered to Mortgagee and, where appropnate. shall Cause to be recorded or hled and ~hereafter to be re-recorded or rel~led at such t~me and ~n such p!aces as shall be deemed des+rable by Mortgagee any and alt such further mortgages. ~nstruments ot turtner assu~ance. cert~t~cates and other documents as Mortgagee may cons~der necessary or des~rable ~n order to elfectuate, complete. eniarge, perfect, or to continue and preserve the obl~gat~ons of Mortgagor under the Note and th~s Mortgage and all other instruments secur~ng the Note. and the I~en of th~s Mortgage as a f~rst and pr~or I~en up~n a!! the Mongaged Property. Upon any fa~lure by Mortgagor to do so, Mortgagee may make, execute, record, hie, re-record, or ref~le any and all such mortgages, ~nstruments, certrf~cates and documents for and ~n the name oi Mortgagor. Mortgagor hereby ~rrevocably appants Mortgagee agent and attorney-~n-fact of Mortgagor to do a1l th~ngs necessary to ettectuate or assure compl,ance wdh th~s paiagraph ~ 10 Event of Defauit. Any one ot the tollow~ng shall const~tute an event of defau{t (a) Fa~lure by Mortgagor to pay, as anc when due and payabie, any ~nstallments of pnnc~pal o? mterest due under the Note, or any deposits for taxes and assessments or insurance premwms due hereunder, or any other sums to be pa~d by Mortgagor hereunder or under any other mstrument secunng the Note. (b) Fa~ture by Mortgagor to duly keep. perform and observe any other covenant, cond~t~on or agreement ~n the Note, th~s Mortgage. any other ~nstrument secunrg the Note or any other ~nstrument collateral to the Note or executed ~n connect~on w~th the sums secured hereby for a per,od of t0 days after Mortgagee g+ves wntten nobce specdying the breach (c) If erther Mortgagor or any gu3ranror or endorser ot the Note: (i) hles a voluntary pet~t~on in bankruptcy, (n) is ad~~d~cated a bankrupt or insolvent: or (iu) fdes any pet~bon or answer seelung or acqwescing in any reorgarnzaUOn, management, compos+tron, read~ustment, I~qwdat~on, d+ssolut~on or s~m:iar rel~ef for ~tself under any law relat~ng to bankruptcy, ~nsolvency or other rel~ef for debtors, or (ivj seeks or consents ro or acqu~esces m the appo~ntment ot any trustee, receiver, master or hqu+dator of ~tselt or of alt or any substantial part of the Mortgaged Property or of any or all of the rents, revenues. ~ssues, earrnngs, profds or ~ncome thereof, or (v) makes any gene!aI ass~gnment tor the bene#it ot cred~tors, or (vi) makes arry admission in wriUng of ~ts ~nab~l~ty to pay ~ts debts generally as they become due; or (v~~) a court of competent jurisdiction enters 2n order, ~udgment or ~ecree approv~ng a pet~t~on f~led aga~nst Mortgagor or any guarantor or endorser of the Note, seek~ng any reorgan~zat~on. arrangement, compos+t~on. read~ustment, i~qwdat~on, d~ssolut~on or s~m~lar rel~et under any present or future iederal, state, or o?her statute. law or regulat~on re,at~ng to bankruptcy, ~nsolvency or other rehef for debtors, wh~ch order. ~udgment or decree rema~ns unvacated and unstayed for an aggregate of s~xty (60) days whe;her or not consecuUve from the date of entry thereof; or (v~~~) any trustee, rece+ver or hqu~dator of Mortgagor of all or any substant~at part of the Mortgaged Property or of any or ~ ail of the rents, revenues, ~ssues, earrnngs. prof~ts or ~ncome thereof, is appanted w~thout the prior wr~tten consent d Mortgagee, wh~ch a~pom,ment shali rema~n unvacated and unstayed for an aggregate of s,xty (60) days whether or not consecutive ~ ~ (d) Any breach of ar,y warranry or matenai un2ruth of any represent3Uon of Mortgagor contained ~n the No!e. th~s Mortgage I o~ any other instrument securmg the Note ~ (e) The occurrence of any default under the terms of any mortgage or other secur,ty ~nstrument wh~ch creates a i~en or other secunty ~nterest on or ~n the Mortgaged Property i t? A~cceleration. If an event of defauit shall have occurred. Mortgagee may declare the outstand~ng pnnc~pai amount ~ o! the Note and the ~nterest accrued thereon. and ali other sums secured hereby, to be due and payable ~mmediately. Upon such dec~arat+on such pr~n;,+pal and interest and other sums shail Immed~ately be due and payable without demand or not~ce. 12 Remedies after Default. Upon an event of default, Mortgagee may proceed by suit or suits at law or ~n eqwty or by any other appropnate prc~ceeding or remedy to: (a) enforce payment oi the Note or the performance of any term hereof ; or any other nght; (b) foreclcse th~s Mortgage and to selt, as an ent~rery or ~n separate lots or parcels. the Mortgaged Propeny j under the ~udgment or decree of a court or courts d competent junsdicUOn; (c) collect all rents, issues, profits, revenue, income and other benefits from the Mortgaged Property: (d) appo~nt a receiver to enter upon and take possession of ihe Mortgaged Property and to collect all rents. ~ssues, p?ot~ts, revenue, ~ncome, and other benef~ts thereof and apply the same as a court ! may d~rect and such rece~ver shall have ali nghts and powers perm~tted under law; a~d (e) pursue any other remedy avadable ' to rt ~nclud~ng, but not 6m~ted to tak~ng possess~on of the Mortgaged Property ~nntheut notice or hearing to Mortgagor. Mortgagee ~ snall take acUon e:ther by such proceed~ngs or by the exerc~se of ~ts power with respect to entry or taking possesion, ar both, F as Mortgagee may determ~ne. ~3. No Waiver. No delay or om~ssion of Mortgagee or ot any holder of the Note to exerc~se any right, power or remedy ~ accru~ng upon any event of default shall exhaust or ~rr~pair any such nght, power or remedy or shall be construed to waive F any event of default or to consUtute acqwesence therein. ~ 14 No~-Exciuaive Remedies. No nght, power or remedy conferred upon or reserved to Mortgagee by the Note, th~s ~ Mortgage or arry other ~nsirument securing the Note ~s exclus~ve of any other nght, power or remedy, but each and every € s~,ch ngh!, power and remedy shall be cumulative and concurrent and shall be m addRion to any other right, pow~er and remedy ~ g~ven h~reunder or under the Note or any cther instrument securing the Note, now or hereafter ex~sting at law, in equity or ; by s:atute. f ~ 15. SucCessors and Assigns Bound. When2ver one o( the parties hereto is named or referred to herein, the heirs. ~ ~ccessors and ass~gns d such party shall be included and aIl covenants and agreements con~amed in th~s Mortgage, by or on behalf of Mortgagor or Mortgagee, shaU b~nd and ~nure !o the benef~ts of their respective heirs, successors and assigns. ~ whether or not so expres,.~ed. 16. Mfscellaneous. In the event that any of the covenants, agreements, terms or provisions contained ~n the Note, th~s ~ Mortgage or arry other instn,~ment secunng the Note shalf be inval~d, dlegal oc ~nenforceable in any respect, the val~d~ry of - the remainmg covenants, agreements, terms or provisions contained herein and in the Note and any othsr instrument securing the Note shall be ~n no way affected, prejud~ced or d~sturbed thereby. 17 Ariorney's Fees. The term "attomey's fees" as used in this Mortgage incfudes any and all legal fees of whatever nature ~nclud~ng, but not limrted to, fees resultirg from any appeal of any ~nterlocutory arder or f~nal judgment or any other appellate prxeed~ng arsing out of any litigat~on. t8. Futuro Advances. Th~s Mortgage is given to secure not only existing indebtedness, but also such future advances, Y whether such advances a!e oblEgatory or are to be made at the option of Wlortgagse, or oiherw~se, as are made ~nnthin f~fteen ~ years from the date hereof, to the same extent as rf such future advance.5 were made on the date of the execu6on of this ~ Mortgage. The total amauM d ~ndebtedness tnat may be so secured may decrease or ~nc~ease from time to t~me, but the ~ total unpa~d balance so secured at one tirne shal not exceed tw?ce the face amount d the Note, plus ~nterest thereon, and ~ arry disbursements made (or the payment d taxes, lev~es or insurance on the Mortgaged Property, w~th interest on such disbursements at the Delault Rate, as hereafter defined. ~ 19. Obll~ttlon ot Mortqasof Mortgagor shall pay the cost o~ releas~ng or saUsfy~ng this Martgaqe d record. ~ ~ , ~ , ~ ~ . - . e~ 67~ ~ 28~1 . ~ s~ ~ , t:. ~w'~31~x~ k' ~S,~ 7~~~`~2~y~ ~".Ny ~ x.~c -....~K"~, a.:S ' . ~~~~~F . .