170-419 - Laserfiche WebLink

Browse

0090A0 9. Upon any failure by the Mortgagor to comply with or perform any of the terms, covenants or conditions of this Mort-- gage ort gage requiring the payment of any amount of money by the Mortgagor, other than the principal amount of the loan evidenced by the Note„interest and other charges, as provided in the Note, the Mortgagee may at its option make such payment. Every ' payment so made, by the Mortgagee (including seasonable attorney's fees incurred thereby), with interest thereon from the -date of such', payment,.at the rate of .six percent (6%a) per annum, except any payment for which a different rate- of interest is specified hereiti, shall be payable by the Mortgagor to the Mortgagee on demand ' and shall be secured by this Mortgage. This Mortgage with iespect' to any such amount and the interest thereon, shall constitute. a lien on the. mortgaged property prior to any other lien' attaching or accruing subsequent• to the lien of this Mortgage. 10: -The bfortgagee, by, any of its agents or ,representatives, shall have the right to inspect the mortgaged property.from time to time''at'any reasonable hour of the day. Should the mortgaged property, or any part thereof, at any time require inspection, repair, care or attention of any kind or nature not provided by this Mortgage: as determined by the Mortgagee in its sole. dis- cretion, the Mortgagee may, after notice to the Mortgagor, enter or cause entry fo be ;made upon, the mortgaged property, and inspect, repair, protect, care for or maintain such property, as the Mortgagee may in its sole discretion deem necessary, and may pay all amounts of money therefor, as the Mortgagee may in its sole discretion deem necessary. 11. The principal amount owing on the Note together with interest thereon and all 'other charges, as therein provided, and all other amounts of money owing by the Mortgagor to the Mortgagee pursuant -to and secured or intended` to be secuied by this Mortgage, •shall immediately become due and payable without notice or demand upon the appointment of a receiver or liquidator, whether voluntary .or involuntary, for the Mortgagor or any of the property of the Mortgagor, or upon the filing of a petition by or against the Mortgagor under the provisions of any State insolvency law, 'or under the provisions of the Bank- ruptcy•Act of 1898, as amended, or upon the making by the Mortgagor of an assignment for the benefit of the Mortgagor's creditors. The Mortgagee is authorized to declare, at its option, all or any part of such indebtedness immediately due and payable upon the happening of any of the following events: (a) Failure to pay the amount of any installment of principal and interest, or other charges payable on the Note, which shall have become due, prior to the due date of the next such installment; ; (b) Nonperformance by the Mortgagor of any covenant, agreement, term or condition of this Mortgage, or, of the Note (except as otherwise provided in subdivision (a) hereof) or of any other agreement heretofore, herewith or hereafter made” by the Mortgagor with the Mortgagee in, connection with such indebtedness; (e). Failure of the Mortgagor to perform any covenant, agreement, term or condition in any instrument creating a lien upon the mortgaged property, or any part thereof, which shall have priority over the lien of this Mortgage; ; (d) The bfortgagee's discovery of the Mortgagor's failure in any application of the Mortgagor to the Mortgagee to disclose any fact deemed by the Mortgagee to be material, or of the making therein or in any of, the agreements• entered into by the Mortgagor with the Mortgagee (including, but not limited to, the Note and this Mortgage) of any misrepresen- tation 'by, on behalf of, or for the benefit of, the Mortgagor; (e) The sale,• lease or other transfer of any kind or nature -of the mortgaged property, or any part thereof, without the prior written consent of the Mortgagee; (f)" ,The ,enactment.' after the date of this Mortgage of any law of the State of Nebraska deducting from the :value of 'the mottgaged;•property (or any part thereof), for the purpose of taxation, any lien thereon, or changing in any way its laws. for the taxation of mortgages or debts secured by- mortgage for state or local purposes,.or the manner of collet- ;? ; tion of any, such tax, so as to affect this Mortgage, and if after such enactment or change the holder of the Note and this 0 :Mortgage -gives written notice to the Mortgagor declaring the Note and all other indebtedness secured by this Mortgage 'to bc'�&Vand payable, because of any such enactment or change, :immediately upon the expiration of thirty (30) days after such notice: The Mortgagee s' failure` to;`exercise any of its rights hereunder shall not constitute a waiver thereof. All the events in this Para- graph enumerated upon' tli,e happening of any of .which the Note shall . become, or may be declared to be, immediately due and payable, are in this' 'o'n' called "events of default". 12. The Mortgagee may from time to time cure each default under any covenant or agreement' in any instrument creating a lien upon ,the mortgaged property, or any part thereof, which shall have priority over the lien of; this Mortgage, to such extent as'the Mortgagee may exclusively determine, and each amount paid (if any) by the Mortgagee to cureany such default shall be paid by the Mortgagor to the Mortgagee; and the Mortgagee shall also become subrogated to whatever rights the holder of the prior lien might have under such instrument. 13. (a) After the happening of any default hereunder, the Mortgagor shall upon demand of the Mortgagee surrender posses - cion of the mortgaged property to the'Mortgagee, and the Mortgagee may enter such property, and let the same and collect all the rents therefrom which are due or to become due, and apply the same, after payment of all charges and expenses, on account -of the indebtedness hereby secured, and all such rents and all leases existing at the time , of such default are hereby assigned to the Mortgagee as further security for the payment of the indebtedness secured hereby; and the Mortgagee may also dispossess, by the usual summary proceedings; any tenant defaulting in the payment of any rent .to the Mortgagee. (b) In the event that the Mortgagor occupies the mortgaged property or'any part thereof, the Mortgagor agrees to surrender possession of such property to the Mortgagee immediately after any such default hereunder,. and if the Mortgagor remains in pos- session after such default, such possession shall be as a tenant of the Mortgagee, and the Mortgagor shall pay in advance, upon demand by the Mortgagee, as a reasonable monthly rental for the premises occupied by the Mortgagor, an amount at least equivalent to one -twelfth of the aggregate of the twelve.monthly installments payable in the current calendar year, plus the actual amount of the annual ground rent, if any, taxes, assessments, water rates, other governmental charges and insurance premiums. payable in connection with the mortgaged property during such year, and upon the failure of the Mortgagor to pay such monthly rental, the Mortgagor may also be dispossessed by the usual summary proceedings applicable to tenants.: This covenant shall become effective immediately upon the happening of any such default, as determined in the sole discretion of the Mortgagee, who shall give notice of such determination to the bortgagor; and in the case of foreclosure and the appointment of a receiver of the rents, the within covenant shall inure to the benefit of such, receiver. 14. The Mortgagee in any action to foreclose this Mortgage shall be entitled to'•ttie appointment of a receiver without notice, as a matter of right and without regard to the value of the mortgaged property, or the solvency or, insolvency of the, Mortgagor or other party liable for the payment of the Note and other indebtedness secured by this Mortgage. 15. The Mortgagor, ivithin ten (10) days upon request in person or within twenty (20) days upon request by mail, will furnish promptly. a, written statement in form satisfactory to, the Mortgagee, signed by the Mortgagor and duly acknowledged, of the amount -then. owing on the Note and other "indebtedness secured by this Mortgage; and whether any offsets •or defenses exist against such. indebtedness or any part thereof. 16. The Mortgagor will give immediate notice, by registered or certified mail to 'the Mortgagee of any, fire, damage or other casualty affecting the mortgaged property, or of any conveyance, transfer or change in ,ownership of , such property, or any part thereof. 17. Notice and demand or request may be made 'in writing and may be servedin person or by mail. 18. In case of a ,foreclosure. sale .of the mortgaged property it may be sold . in . one parcel., 19. The Mortgagor will not assign the rents, if :any, in whole' or in part, from -the. mortgaged property, or any part thereof, without the prior written consent of the Mortgagee.