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Home My WebLink About2488 9 Additional Documents. A! ai! t~n~as tr~ s ~"o~tgage ~s ;n ettect upon Mortyagee s reques! Mortgagor shal! make execu~e and dei:ver or cause to be maae execu;ed and de~~vered ?o Mortyayee and where appropr~ate sha!I ~ause to be +ecorded or !~ied and thereatter to be re~rec orded er rehled at such t~me and ~n such places as shali be deemed des~rable by M~rtgagee any and ati such f~rther mort~ayes mstrume~ts of turtner assurance. ceruficates and otner documents as tilortgagee may cons~der necessary or des~rabte +n order to effectuate, complete, enlarge, pe~ect, or to conUnue and preserve the obl~gat~ons of Mortga~or under the Note and th~s Mortgage and all other ~nstruments secunr.g the Note. and the I~en ol th~s Mortgage .~s a f~rst and pr~or I~en upon all the Mortgaged Property Upon any fa~lure by Mortgagor to do so. Mortgagee may make, execute, record, f~ie, re-record, or ref~le any and all such mortgages, mstruments, ceRrf~cates and documents lor and m the name of Mortgagor Mortgagor hereby ~rrevocably appo~nts Mortgagee agent and attorney-~n-fact of Mortga~or to do all th~ngs necessary to effectuate or assure comphance w~th th~s paragraph 10 Event of Default. Any one of the follow~ng shall consbtute an event of default - (a) Fa~lure by Mortyagor to pay, as and when due and payable. any mstallments of pnnc~pal or ~nterest due under the : tVote or any depos~ts for taxes and assessments or ~nsurance prem~ums due hereunder, or any oiher sums ?o be pa~d by h~artgagor hereunder or under any o!her ~nst•ument secunng tne Note ~ (b) Fa~lure by Mortgagor to duty keep, per~orm and observe any other covenant, cond~Uon or agreement ~n the Note, th~s Mortgage any other ~nstrument secunng the Note or any other instrument collateral ro the Note or executed ~n connecnon w,th the sums secured hereby for a penod of 10 days atter Mortgagee g~ves wr~tten not~ce sreafy~ng the breach (c) If e~ther Mortgagor or any guarantor o~ endorser of the No;e f~les a voluntary pet~hon m bankruptcy. (u) ~s ad~ud~cated a bankrupt or msolvent: o? (u~) f~les any pet~bon or answer seek~ng or acqwesc~ng ;n any reorgan~zation, management, compos~tion readjustment, I~qwdaUOn. d~ssolut~on or s+m~lar re!~ef !or ~tseif under any IaK- relat~ng to bankruptcy, ~nsolvency or other rel~ei tor debrors, or (~v) seeks or consents to or acqwesces ~n the appo~ntment of any trustee, rece~ver master or hqwdator of rtself or of all or ary substant~al part of the Mortgaged Prcperty or ot any or aIl of the renis. revenues. ~ssues. earrnrgs, prof~ts or ~ncome thereof. or (v) makes any general ass~gnment for the benef~t oi creditors, or (w~ makes any adm~ss~on ~n wnt~ng of ` ~ts ~nab~hty to pay ~!s debts generaiiy as tr;ey become due; or (vu) a court of competen; ~unsdicUon enters an order. ;udgment or decree approv~ng a pet~t~on f,led aya~nst Mortgagor or any guarantor or er.dorser of the Note. seekmg any reorgan~zat~on. a!rangement. cornpos~UOn. read~ustment. I~quidaUon, d~ssolubon or s~milar rel~ef under any present or tuture federal. state: or o,her statute. Ia~.v or regu+aUon retat~ng to bankruptry. msolvency or other rehef ior clebtors. wh~ch order. ~udgment or decree rema~ns unvacated and u~stayed for an aggregate of s~xFy (60) days whether or not consecut~ve from the date of entry thereof: or (v~u) any t, ustee. rece~ver or I,qu~dator oi Mortgagor ot aIi or any substanbal part o` the Mortgaged Properry or of any or all of the rents. revenues. ~ssues earn~ngs. prohts or mcome thereof. ~s aqpo~nted w~thout the pnor wntten consent of Mortgagea. wh ch a~,;x~ntmen? shal! rema~n unvacated and unstayed for an aggregate et s~xty (60j days ~ti~hether or not consecu?~ve (d) Any brea:,h of any warranty or mater,ai untruth of any rep!esentat~on o? Mortgagor conta~ned ~n the Note ;h~s Mortgage or any oiher instrument secunng the Note (e) The occ~.~rrence of any defaulr ~nder the terms oi any mortgage or other secur~!y ~nstrument vrh~ch c~eates a I;en or other sec~rty int?rest on or ~n the Mortgaged Property 11 Acceleration. If an event of de!auit shall have occurred. Mortgagee may declare the ou?stand~ng pnnc~pai amount of t~e Note ar.d the ~nterest accrued thereon. and ali other sums secured hereby, to be due and payabfe ~mmed~ately Upon , such dec!arat~on such pnnc~pal a~d Enterest ard other sums shal! ~mmed~ately be due and payable w~thout demand or not~ce. 12. Remedies after Default. Upon an evern of default. Mortgagee may proceed by sud or swts at law or ~n eqwty or ~ by any other appropnate oroceed~ng or remedy to: (a) eniorce payment of the Note or the performance of any term hereof or any other nght: (b) foreclase th~s Mortgage and to sell, as an ent~rety or ~n separate lots or parcels, the Mortgaged Property under the ~udgment or decree ot a ca.;rt or courts of competent ~unsd~ct~o~; (c) collect all rents, ~ssues, prohts, revenue, ~ncome and other benef~ts from the Mo~tgaged Property: {d) appo~nt a rece~ver to en?er upo~ and take possess~on of the Mortgaged R Property and to collect all rents ~ssues, prohts, ~evenue. mcome, and other benefits thereof and apply the same as a court may d~rect and such rece~ver shall have alI nghts and powers perm~tted unde; law: and (e) pursu~ any other remedy ava~lable ~ , 3 to ~t ~nclud~ng. but not I~m~ted to tak~ng possess~on of the Mortyaged Property w;ihout not~ce or heanng to MoRgagor. Mortgagee 4 shali take acbon e~ther by such proceed~ngs or by the exerase of ~ts power w~th rESpect to entry or takmg posses~on, or both. : z as Mcrtgagee may determ~ne . ~ 13 No Waiver. No detay or om~ss~on of Mortgagee or of any no!der of the Pdote to exerc~sa any nght. po~~er or remedy ~ accru~ng upon any event of defau{t shail exhaust or ~mpa~r any such r~gh?. power or remedy or shail be construed to wa+ve ~ any event of default or to const;tute acqu~esence therem ~ 14 Non,Exciuslve Remedies. No r,ght. p~~er or remedy conferred upon or reserved to MoRgagee by the Note, th~s ~ Mortgage or any other ~nstrument secunng the Note Es exclus~ve of any other nght, pawer or remedy. but each and every ~ such r~ght, pawer and remedy shall be cumulat~ve and concurrent and shai be ~n add~Uon to any other nght, power and remedy . g~ven hereunder or under the Note or any other ~nstrument ~ecunng the Note, now or hereafter ex~st~ng a! law, ~n 2qwty or ~ by statute t5 Successors and Assigns Bound. Whenever one of the part~es hereto ~s named er referred to herein. the he~rs. s~ccessors and ass~gns of such party shall be ~ncluded a>>d ail covena~ts and agreements conta~ned m th~s Mortgage, by ~ or on behaif of Mortgagor or MoRgagee. shali b~nd and ~nure to the benet~ts of thscr respeciive heirs, successors and ass;gns, whether or noi so expressed. ~ 16. Miscellaneous. in the event that any af the covenarts, agreements, ?erms or provisions contained ~n the Note. th~s ~ Mortgage or any other ~nstrument secunng the Note shal! be ~nvahd. ~Ilegal o~ unenforceable ~n any respect, the vahd~ty of = the remaining covenants, ag!eements, terms or prav~s~ons contained here~n and in the Note and any other instrument secunng the Note shall be m no vvay aftected. prejud~ced or d~sturbed thereby. ~ 17 Attomey's Fe~as. The term "attorney's tc:es" as used ~n this Mortgage ~nciudes any and all legai fees of whatever nature including, but not I~m~ted to, fees resuiUng from any appeal of any ~~terlocutory order or f~na! ~udgment or any other x appeuate proceeding ans,ng out of any lit~gabon. - 18. Future Advances. Th~s Mortgage ~s g~ven to secure not only ewsUng mdebtedness. but a?so such future advances. ~ whether such advar?ces are obl~gatory or are ro be made at the opt~on of t~lortgagee, or otherwise, as are made w~th~n f~fteen ~ years from the date hereof, to the same extent as rf such future advances were made on the date of ihe execution of th~s ft Mortgage. The total amount d ~ndebtedness that may be so secured may decrease or ~ncrease from time to Ume, but the ~ total unpa~d bafance so secured at one t~me sha11 not exceed tw~ce the face amount oi the Note, plus ~nterest thereon, and ~ any d~sbursements made for the payment of laxas, Izv~es or msurance on the AAortgaged Property, w~th ~nterest on such d~sbursements at the Oefauit Rate, as hereafter def~ned. ~ ~ 19 Obll~atbn of MortQeqor. Mortgagor shail pay the cost of releas~ng or sahsfy~ng th~s Mortgage of record. ~ r • - ` ~ ~ U~5 PAGE~~00 . ; - ; dO01I - - ~ r ~ ~ :r.~~~ ~i x~ ~ .~r