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201404434
<br /> MORTGAGE
<br /> Loan No:177949-1 (Continued) Page 5
<br /> Collect Rents. Lender shall have the right,without notice to Grantor,to take possession of the Property and
<br /> collect the Rents,including amounts past due and unpaid,and apply the net proceed&over and above Lenders
<br /> costs,against the indebtedness. In furtherance of this right,Lender may require any tenant or other user of the
<br /> Property to make payments of rent or use fees directly to Lender. If the Rents are collected by Lender,then
<br /> Grantor Irrevocably designates Lender as Grantor's attorney-in-fact to endorse instruments received in payment
<br /> thereof in the name of Grantor and to negotiate the same and collect the proceeds. Payments by tenants or other
<br /> users to Lender in response to Lender's demand shall satisfy the obligations for which the payments are made.
<br /> whether or not any proper grounds for the demand existed. Lender may exercise its rights under this subparagraph
<br /> either in person,by agent,or through a receiver.
<br /> Appoint Resolver. Lender shalt have the right to have a receiver appointed to take possession of at or any part of •
<br /> the Property,with the power to protect and preserve the Property,to operate the Property preceding foreclosure or
<br /> sale, and to collect the Rents from the Property and apply the proceeds, over and above the cost of the •
<br /> receivership,against the Indebtedness. The receiver may serve without bond if permitted by law. Lender's right
<br /> to the appointment of a receiver shell exist whether or not the apparent value of the Property exceeds the
<br /> indebtedness by a substantial mount. Employment by Lender shall not disquagy a person from serving as a
<br /> receiver.
<br /> Judicial Forsetosws. Lender may obtain a judicial decree foreclosing Grantor's interest In all or any part of the
<br /> Property.
<br /> Nonjadiclal Sae. If permitted by appecabie tea,Lender nary foreclose Grantors interest in all or in any part of the
<br /> Personal Property or the Red Property by non-judicial sets.
<br /> Oefloteney Judgment.the Lender a in hdebtedne de to application of all t modvad from e of provided
<br /> this section. •
<br /> Tenancy at Sufferance. N tutor smelts it pcesessiot of the Property after the Property is asd as provided
<br /> above or Lender otherwise becomes entitled to photon of the Property upon default of Grantor,Grantor shat
<br /> become a tenant at sufferance of Lender or the purdtaser of the Property and shat,at Lender's option.either (1)
<br /> pay a reasonable rental for the use of the Property,or (2) vacate the Property incnediately upon the dared of
<br /> Lender.
<br /> Other Remedies. Lender shall have all other rights and remedies provided in this Mortgage or the Note or avertable
<br /> at law or in/quay. •
<br /> Sale of the Property. To the extent permkted by appiicable law,Grantor hereby waives any and all right to have
<br /> the Property marshalled. M exercising its rights and remedies,Lender shall be free to sell err or any part of the •
<br /> Property together or separately,in one sale or by separate sales. Lender shag be entitled to bid at any pubic sale
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<br /> on all or any portion of the Party.
<br /> Notes of Sate, Lender will give Grantor reasonable notice of the time and place of any public sae of the Personal
<br /> Properly or of the time after which any prtvate sale or other intended deposition of the Personal Propeny is to be
<br /> made. Reasonable notice shell mean notice given at least ten(10)days before the time of the sale or disposition.
<br /> Any sale of the Personal Property may be made in conjunction with any sale of the Real Property. •
<br /> Election of Remedies. All of Lender's tights and remedies will be cumulative and may be atomised alone or
<br /> together. An election by Lander to choose any ors remedy will not bar Lender from wing arty other remedy. If
<br /> Leder decides to spend money or to perform any of Grantors obligations under this Mortgage,after Grantor's
<br /> falure to do so,that decision by Lander will not affect Larders right to declare Grantor in default and to exercise
<br /> Lender's remakes.
<br /> Attorneys'Fees;Expenses. If Lender I sti:tee ay suit a'action to enforce any of the terms of this Mortgage,
<br /> Larder shat be entitled to recover such am as the court may acetal0e reeanrnable as attorneys'fees at trial and •
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<br /> upon are appeal. Wetter or not any carat action is involved, and to the extort not prohibited by taw. all
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<br /> reasonable e,,ermea Lender irons that in Lender's opirron are nsoamay at any time for the protection of Its
<br /> interest or the enforcement of its rights sat become a pert of the Indebtedness payable on demand and shall beer •
<br /> interest at the Note rate horn the date of the egxandare broil taped Eyries covered by this p t include, •
<br /> without limitation,however subject to any emits under applaele law,Lenders attorneys'teas and tender's legal
<br /> amerces,whether or not there is a lawsuit,including attorneys'fees and menses for bankruptcy proceedings •
<br /> enduterp efforts to modify or vaced collection services,the searching records,obtaining title reports g foreclosure repots),surveyors'
<br /> reports,and appraisal fees and title ins ranee,to the extent penrstted by appicable law. Grantor also will pay any
<br /> court coats,in addition to all other sans provided by law. •
<br /> NOTICES. Any notice required to be given under this Mortgage,including without limitation any notice of default and
<br /> any notice of sale shy be given in wrong.and sell be effective when actually delivered,when actually received by
<br /> telefecsirrde(unless otherwise required by law),when deposited with a nationally recognized overnight comer,or,if
<br /> meted,when did in the United States mail,as fist class,certified or registered mil postage prepaid,directed to •
<br /> the addresses shown near the beginning of this Mortgage. Al copies of notices of foreclosure from the holder of any
<br /> len which has priority over this Mortgage shall be sir to Lender's address,as shown rear the begini g of this •
<br /> Mortgage. Any person may charge his or her address for notices under this Mortgage by giving formal written notice
<br /> to the other person or persons,specifying that the purpose of the notice is to change the person's address. For notice
<br /> purposes,Grantor agrees to keep Lender infonned at all tines of Grantor's current address. Unless otherwise provided
<br /> or required by few,if there is more than one Grantor,any notice given by Lander to any Grantor is deemed to be notice
<br /> given to at Grantors. It MN be Grator's responsibility to tee the others of the notice from Lander.
<br /> MISCELLANEOUS PROtlISION& The following miscellaneous provisions area part of this Mortgage: •
<br /> Amendments What is written in this Mortgage and in the Related Ooc marts is Grantors entire agreement with
<br /> Lady concerning the matters covered by this Mortgage. To be effective,any change or a end rent to this
<br /> Mortgage must be in writing and must be signed by whoever will be bound or obligated by the change or
<br /> amendment.
<br /> Caption Headings. Caption headings in this Mortgage are for convenience purposes only and are not to be used to •
<br /> interpret or delne the provisions of this Mortgage. •
<br /> Joint and Several Llsbtty. All obligations of Grader under this Mortgage shall be joint and several,and all
<br /> references to Grantor shag mean each and every Grantor. This means that each Grantor signing below is
<br /> responsible for al obligations in this Mortgage.
<br /> No Waiver by Lender. Grantor understands Lender will not give up any of Lender's rights under this Mortgage
<br /> unless Lender does so it writing. The fact that Lender delays or ands to exercise any right well not mean that
<br /> Lender has given up that right. If Lender does agree in writing to give up one of Lenders rights,that does not
<br /> mean Grantor will not have to comply with the other provisions of this Mortgage. Grantor also understands that if
<br /> Lender does consent to a request,that does not mean that Grantor will not have to get Lenders consent again if
<br /> the situation happens again. Grantor further understands that just because Lender consents to one or more of •
<br /> Grantor's requests,that does not mean Lender will be required to consent to any of Grantor's future requests.
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