202106436 - Laserfiche WebLink

Browse

202106436 fees and other items of expense, together with interest on each advancement at the highest lawful rate of interest per year allowed by the law of State of Kansas. All such sums and interest shall be secured by this mortgage. SECTION ELEVEN. VALUATION OR APPRAISEMENT LAWS INAPPLICABLE TO SECURITY All sums of money secured by this mortgage shall be payable without any relief from any valuation or appraisement laws. SECTION TWELVE. DEFAULT; ACCELERATION If default is made in payment of any installment of principal or interest of the note or any part of it when due, or in payment, when due, or any other sum secured by this mortgage, or in performance of any of mortgagor's obligations, covenants or agreements under this mortgage, all of the indebtedness secured by it shall become and be immediately due and payable at the option of mortgagee, without notice or demand, which are waived. In this event, mortgagee may avail itself of all right and remedies, at law or in equity, and this mortgage may be foreclosed with all rights and remedies afforded by the laws of the State of Kansas and mortgagor shall pay all costs, charges and expenses, including a reasonable attorney's fee, including all costs, expenses and attorney's fees for any retrial, rehearing or appeals. The indebtedness secured by this mortgage shall bear interest at the highest lawful rate of interest per year allowed by the laws of State of Kansas from and after the date of any default of mortgagor. If the note provides for installment payments, mortgagee may, at its option, collect a late charge as may be provided for in the note, to reimburse mortgagee for expenses in collecting and servicing the installment payments. SECTION THIRTEEN. REMEDIES ON DEFAULT If default is made in payment, when due, of any indebtedness secured by this mortgage, or in performance of any of mortgagor's obligations, covenants or agreements contained in this mortgage: A. Mortgagee is authorized at any time, without notice, in its sole discretion to enter on and take possession of the mortgaged property or any part of it, to perform any acts mortgagee deems necessary or proper to conserve the security and to collect and receive all rents, issues and profits of it, including those past due and those accruing later; and B. Mortgagee shall be entitled, as a matter of strict right, without notice and ex parte, and without regard to the value or occupancy of the security, or the solvency of mortgagor, or the adequacy of the mortgaged property as security for the note, to have a receiver appointed to enter on and take possession of the mortgaged property, collect the rents and profits from it and apply them as the court may direct, the receiver to have all the rights and powers permitted under the laws of the State of Kansas. In either case, mortgagee or the receiver may also take possession of, and for these purposes use, any and all personal property which is a part of the mortgaged property and used by mortgagor in the rental or leasing of the mortgaged property or any part of it. The expense (including receiver's fees, 5