-. : . t: ` �
<br /> ; '
<br /> � .
<br /> � . . . �0�3.01569 - .
<br /> 9��9� �
<br /> r --_ -- -- . �
<br /> 3.2.5 upon or at any time after the filinq of any ,
<br /> � com�+laint to foreclose the �fen of thi.s Mortqage, the court may, �
<br /> � ujpon appli�ation, appoint a receiper of the Mortgaqed Property.
<br /> Such appointment may be made either before or after forec3osure =
<br /> • sale, with notice to Mortqaqor; without regard to the solvency or
<br /> ' insolpenc�� at the time of app�ication for such rece�ver,_ of the
<br /> person or persons, if any, liable for the payment of the
<br /> � Indeb�edness; without regara to the value of the Mortqaqed Propertg
<br /> at such time and whether or not the same is then occupied as a
<br /> homestead; and without bond beinq required of the applicant and �
<br /> Mortgagor shall not oppase any such appointment. Mortgagee or any
<br /> employee or aqent thereof may be appointed as such recei.ver. Such ,
<br /> rec��ver shall have the power to take possessioa.Q ,�1�t�cL, a�ad care �;:.•:,::.;.-
<br /> . . of �e Mortgaqed P�erty, and to �llect al2 r�� �h���`�::d��q �`: �:;;:� :,"�;
<br /> �.•:�:�.,..,.,
<br /> . the pendea�p- c�f s�c� :fa���sure s�it a��i� i.n �e e�'era�.���°a'��L-e • - �, --
<br /> „� .:: . ` and a de€��s�n�.� ���e�e i�toi tqag�r�`'�a�� ar�� c,�ai�esl its��`�.att��+i�,r : � ,
<br /> '' rights cfr .� irede���i�d�, . durinq �:i� fu�3: s#a�c�.�orp �S�ricd� `�.c�r� �
<br /> rede�tion, a�s ��1�� as during any fnrther times c�n Mortgagor mr
<br />' .. ::� . . its deviseesr �.�ega.�ess, heirs, exeautors, a����trators, legal _
<br /> .
<br /> . regresentatives, � ;�s��cessors, cr assigns, except �or t�e
<br /> � sntea�rention of su�h receiver, would be entitled to collect s�ch
<br /> rents and shall ha�re all � other powers that may be necessary or
<br /> useful in such cases for the protection, poasession, control,
<br /> manaqement, and �operation of the Mortqaged Property durinq the •
<br /> whole of any such period. Ta the extent permitted by law, such
<br /> receiver may be authorized by the cour� with such rigrits and powers
<br /> as are provided herein, it .beinq understood and agreed that any
<br /> �such Leases, and the options or other such provisions to be : �
<br /> � contained therein, shall be bindinq upon Mortgaqor and all persons .
<br /> whose interests in the Mortgaqed Property are subject to the Lien
<br /> hereof. and upon iche purahas�r or purchasers at any such • - .
<br /> foreclosure sale, not�rithstandinq any redemption from sale, :�.
<br /> dfsaharge of indebtedness, satisfaction of foreclosure decree, or :
<br /> issuance of certificate of sale or deed to any purchaser. �'
<br /> Y
<br /> . v�
<br /> i
<br /> SECTION 3.3 ����,�of _Mortgaaed Prouertv if Event of
<br /> Default OCCUrs; Proaeeds of Sale.
<br /> 3.3.1 On the completion of any sale or sales by ' '
<br /> , Mortgaqee made under or by virtue of this Artacle 3, Mortgaqee, or ,��
<br /> an officer of any court empowered to do so, shall execute and ,
<br /> deliver to the a�cepted purchaser or purchasers a qocd and �� .
<br /> sufficient fnstrunent or instruments conveyinq, assigning and ;` ��
<br /> transPerrfng all �tate, right, title and interest in and to the
<br /> property and rig�t�s sold. Mortgagee is hereby irrevocably `
<br /> appofnted the true and lawful agent and attorney oP Mortqagor, in
<br /> its name and stead, to make all necessary conveyances, assignments,
<br /> transfers and deliverfes of the Mortgaged Property and riqhts so
<br /> - � � - sold, � -and-�for� that--�-purpose _Mortqaqee. may... execute all .. necessary .
<br /> -- - �----�-�--- ... ..
<br /> � instru�aents oP conveyance, assignment an8 transfer, and may
<br /> subatitute one or more persons with like power, and Mortgagor
<br /> hereby ratifie� and confirms all that Mortgagee, aCtfng as its
<br /> -Z2-
<br /> . . . . , �;..
<br /> . . _.. _. _ ..... : .. . _ . _ . . . . . .. . _/. ��. _
<br />: � • � . � � .�
<br /> a
<br /> rr.
<br />: ��.
<br /> r'
<br />. . e - �
<br />
|