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Home My WebLink About1186 9 Addltlonal Oocuments. At au t~mes tr,;s R1or,gage ~s ~n effect. upon Martgagee s request Mortga~or shau make. exe~~te and del~ver or cause to be made, executed and dei~vered to Mortgagee and. whe~e approp!~ate. shail cause to be recorded or hled and thereatr.e? to be re-recorded or ret~led at such hme and m s~ch places as shaU be deemed des~rable by R4ortgagee any and all such further mortgages. ~nstruments ot furtner assurance. cerUf~cates and other documents as Mortgagee may cons~der necessary or des~rable in order to effectuate, complete, enlarge. perfect, c~r to cont~nue and preserve the obl~gat~ons of Mortgagor under the Note and th~s Mortgage and all other ~nstruments secur~ng the Note, and the I~en of th~s Mortgage ~s a i~rst and pr~or I~en upon all the Mortgaged Property. Upon any fa~lure by Mo?tgagor to do so, Mortgagee may make, execute, record, f~le, re-record, or ref~le any and all such mortgages, instruments, cert~ficates and documents for and ~n the name of Mortgagoc Mortgagor hereby irrevocably appo~nts Nlortgagee agent and attorney-~n~fact ot Mortgagor to do all ~h;ngs nece~~.ry to eftecruare er assure comp!~a!?ce w~th th~s ~aragra~h. 10. Event oi Default. Any one d th~ follow~ng shall consUtute an event of default (a) Fa~lure by Mortgagor to pay, as and when due and payable, any ~nstallments of pr~nc~pal or ~nterest due under the Note, or any depos~ts for taxes and assessments or insurance prem~ums due hereunder, or any other sums to be pa!d by Martgagor hereunder or under any other instrument secunng the Note. (b) Fa~iure by Mortgagor to duly keep, pe~form and observe any other covenant, cond~t~on or agreement ~n the Note, th~s Mortgage, any other instrument secunng the Note or any other mstrument collateral to the Note or executed m connect~on w~th the sums secured hereby for a penod of 10 days after Mortgagee g~ves wntten notice spec~fy~ng the breach. (c) If either Mortgagor or any guarantor or endorser ot the Note: O f~les a voluntary petrt~on m bankruptcy. (u) ~s adjud~cated a bankrupt or msolvent; or (iu) f~les any peUtion or anstiver seeking or acqwescmg ~n any reorganizat~on, management, compos,t~on. readjustment, liqwdation, disso!ution or sim~lar relief for ~tseN un~er any law relahng to bankruptcy, insolvency or ather rehef for debtors, or (iv) seeks or consents to or acquiesces in the appointment of any trustee, receiver, master or liquidator of itself or of all or any substan6al part of the Mortgaged Property or of arry or all of the rents, revenues. ~ssues, earnings, prof~ts or income thereot, or (v) makes arry general assignment for the benefit of creditors, or (vi) makes a~y adm~ss~on in wnUng o( its inabifity ,o Ray its debts generally as they become due: or (w) a court ot competent jur~sd~ct~on enters an order, ~~dgment or decree approv~ng a pet~tion filed agamst Mortgagor or any guaranior or endorser of the Note, seekmg any reorgarnzation, arrangement, composition, readjustment, liqwdat~on, d~ssoluUon or sim~lar re6ef under any present or tuture federal, state, or other statute, IaH or regulat~on relatmg to bankruptcy, insolvency or other relie! for debtors, which order, judgment or decree remains unvacated and unstayeti for an aggregate of `sixty (60) days whether or not consecut~ve from the date of entry thereof; or (~nii) any trustee, rece~ver or 6quidator o! Mortgagor oi all or any substanUal part of the Mortgaged Property or of any or ail o( the rents, revenues, ~ssues, earnings, profds or income thereof, is appointed w~thout the orior wntten consent of MortgaCee, wh~ch appointment shall rema~n unvacated and unstayed for an aggregate of s~xty (60) days whether or not consecut~ve ' (d) Any breach of any warranty or materiai untruth of any representaUOn of Mortgagor conta~ned ~n the Note. !h~s Mortg3ge ; or any other mstrument securing the Note. i, (e) The occurrence of any default under the terms of any mortgage or other secur~ty ~nstrument wh~ch creat~s a+~en or ~ other secunty ~nterest on or m the Mortgaged Property. 11. Acceleration. If an event of deiault shall have occurred. Mortgagee may declare the outstanding pnnc~pal amount ~ of the Note and the ~nterest accrued thereon, and all other sums secured herEby, to be due and payable immed~ately. Upon such declaration such pnncipal and interest and other sums s.hall immediately be due and payable v+nthout demand or notice. 12. Remedles after Default. Upon an event of default, Mortgagee may proceed by suit or suits at law or in equity or , by arry other appropriate proceeding or remedy to: (a) enforce payment of the Note or the performance of arry term hereof ~ or ar~y other right: (b) foreclose this Mortgage and to sell, as an entirety or in separate lots or parcels, the Mortgaged Property under the judgment or decree of a court or courts of competent junsdiction; (c) collect all rents. ~ssues, protits, revenue, income ~ and other benef~ts from the Mortgaged Property; (d) appoint a receiver to enter upon and take possession of the Mortga~ed Property and to collecr all rents, issues, profits, revenue, income, and other benefits thereof and apply the same as a court may direct and such receiver sha~l have all rights and powers permitted under law; and (e) pursue any other remedy available ` to ~t ~nciuding, but not fimited to takmg possession d the Mortgaged Property without notice or hearing to Mortgagor. Mortgagee ~ ~ shall take action either by such proceedings or by the exercise of its power with respect to entry or taking possesion, or both, ~ as Mortgagee may determme. 13. No Walver. No detay or emiss~on of Mortgagee or of any holder of the Note to exerc~se any nght, power or remedy . accruing upon any event of default shall exhaust or ~mpa~r any such nght, power or remedy or shall be construed to waive ; any event of default or to constitute acquiesence there~n. ~ 14. Non-Exclusive Remediss. No ri ht, r or remed conferred u g powe y pon or reserved to Mortgagee by the Note, th~s Mortgage or any ather inslrument securing the Note is exclus~ve of arry other right, power or remedy, but each and every ~ such right, parver and remedy sl~ali be cum~lative and concurrent and sha11 be in addition to arry other right, power and remedy ~ giv2n hereunder or under the Note or ar~y other instrument securing the Note, row or hereafter existing at law, in equ~ry or ~ tr~ statute. ~ 15 Successors and Asslgns Bound. Whenever one of ihe parties hereto is named or referred !o herein, the heirs, ~ successors and assigns of such party shat~ be included and all covenants and agreements contained in this Martgage, by ~ or on behalf d Mortgagor or Mortgagee, shall b+nd and inure to the benefds of their respecUve heirs. successors and ass~gns, whether or not so expressed. ~ 16. ~Alscellaneous. In the e~~ent that any of the covenants, agreements, terms or provisions conta;ned ~n the Note, th~s Mortgage or any other instrument securing the Note shall be invalid. ~Ilegal or unenforceable +n any respect, the valid~ty of ~ the remaining covenants, agreements, terms or provisiors contained herein and in the Note and any other mstrument secunng the Note shall be in no way affected, prejudiced or d~sturbed thereby. 17. Attamey's Fees. The term "attorney's fees" as used in this Mortgage inc!udes any and aA legal fees whatever nature including, but not limited to, fees resulting from any appeal d any ~nterlocutory order or f~nal judgment or any other appellate proceeding aris~ng out of any litigation. 18. Futurs Advances. This Mortgage is gi;~en to secure not only ex~sting indebtedness, but also such future advances, whether such acivances are obligatory or are to be made at the option of Mortgagee, or otherwise. as are made w~thin f~tteen E years from the date hereof, to the same extent as if such future advances were made on the date af the execution of this ; Mortgage. The total amount of indebtedness that may be so secured may decrease or mcrease irom t~me to t~me, b~~t the ~ tota~ unpaid balance so secured at one time shall not exceed twice the face amount of the Note, plus ~~terest thereon, and ~ any d~sbursements made for the payment of taxes, levies or insurance ~n the Mortgaged Property, with mterest on such ~ d~sbursements at the Detault Rate, as hereafter defined. ~ 19. Obiiyatlon of Mortgagor. Mortgagor shall pay the cost of releas~ng or saUsfy~ng th~s Mortgage of record. k ~ BoRK 6 ~5 PAGE1186 . . - ~ . ` . ~ , , _ ~ - _ _ _ - ,~~~~.~~a:~.~ ~