88104344 - Laserfiche WebLink

Browse

88- 104344 secured herebYi nor affect the priority and lien status of the Mortgage upon any property not 50 released. Any personal property owned by Mortgagor remaining upon the Mortgaged Property, after such Mortgaged Property has been possessed or occupied by Mortgagee or its agent following foreclosure of this Mortgage or under any deed in lieu of foreclosure, shall be conclusively presumed to have been abandoned by Mortgagor or any other former owner thereof; and Mortgagee shall not in any way incur any liability or obligation to said Mortgagor or former owner by reason of any action which Mortgagee in its sole discretion chooses to take with respect to said personal property; provided, however, that in no event shall Mortgagee be required to take any affirmative action in preserving.. protecting or otherwise overseeing the deployment or storage of ..aid personal property, nor shall Mortgagee incur any liability to Mortgagor or former owner of said personal property because of failure to take any such affirmative action with respect to said personal property. 3.8 Exoenses of Litigation. If Mortgagee shall, at any time, be made a party to any suit or proceeding affecting or questioning the priority of the lien of this Mortgage or title to or possession of the Mortgaged Property, Mortgagor agrees to pay all court costs and expenses, and attorney's fees reasonably incurred by Mortgagee in such proceedings, which sums shall be added to the Indebtedness secured hereby, and the lien of this mortgage shall secure payment thereof to Mortgagee. 3.9 One Parcel. Mortgagor and Mortgagee each agree that the Mortgaged Property is intended to be owned and operated as one economic unit, and shall be used, owned and developed as one tract of land by the Mortgagor, and its tenants. In view of the foregoing, Mortgagor hereby expressly and unconditionally waives any and all provisions of applicable law which would otherwise, but for this waiver, allow Mortgagor to assert and claim that the Mortgagee, upon foreclosure, be required to foreclose as to less than all of the property or to allocate all or part of the Indebtedness among the various platted lots comprising the Mortgaged Property at any Sheriff's foreclosure sale or in any way marshal the assets. This waiver shall be binding and enforceable upon the Mortgagor, its successors and assigns, and shall run with the land for the term of this Mortgage. 3.10 Counterparts. This Mortgage may be executed in any number of counterparts, each of which shall be an original but all of which shall constitute one instrument. -16- u