HomeMy WebLinkAbout1088 ,
;
. 1
I
Fourth: To the Fayment of accrued and unpaid interest
hereunder or under the Note .
Fifth: To the payment of the entire outstanding principal
sum of the Note.
Sixth: To the payment of any other sums required to be
paid by Mortgagor pursuant to any provision of this Mortgage or of
the Note.
Seventh: The payment of the surplus, if any, to
whomsoever may be lawfully entitled to receive the same. Mortgagee
and any receiver of the Premises, or any part thereof, shall be
! liable to account for only those Profits and proceeds actually
I
i received by them.
~
~
! 8. That Mortgagor hereby assigns to Mortgagee the Leases and
~
~
~
~ the rents, issues and profits of the Premises as further security
f
for the payment of the Zndebtedness, and, Mortgagor grants to
i
Mortgagee the right to enter upon and take possession of the
~
~ Premises for the purpose of collecting the same and to let the
~ Premises or any part thereof, and to apply the rents, issues and
~ profits, after payment of all necessary charges and expenses, on
~ account of the Zndebtedness. This assignment and grant shall
continue in effect until this Mortgage is paid. Mortgagee hereby
P
waives the right to enter upon and take possession of said Premises
, for the purpose of collecting said rents, issues and profits, and
Mortgagor shall be entitled to collect and receive said rents,
` issues and profits until an Event of Default has occurred (and upon
F .
~
~ written notice thereof to Mortgagor) and agrees to use such rents,
~
~
q
~
~ 23
~
Boo~675 ~~E1088
~ - - - ~
~ - ..t~.~~.~
~ ~,~:a:.
L-~~
~,..~~~Na.r~°~.~_