|
<br />83- Ur,~Q2r16
<br />16. In the event that Mortgagor makes an assignment for the bene-
<br />fit of creditors, a receiver is appointed for the Mortgagor or for any part of
<br />the premises, or if Mortgagor files a petition or institutes proceedings in
<br />bankruptcy or is adjudicated a bankrupt under any state law for the relief of
<br />debtors or under the bankruptcy laws of the United States, Mortgagee shall
<br />have the right, at its option, to declare any indebtedness or obligations secured
<br />hereby, irrespective of the maturity date specified in the Note evidencing the
<br />same, immediately due and payable, and Mortgagor shall immediately pay such
<br />sum.
<br />17. That Mortgagor will not sell, assign, convey, transfer or other-
<br />wise dispose of (or permit the sale, assignment, conveyance or transfer} of its
<br />interest in the property above described without the prior written consent of
<br />Mortgagee. Mortgagor further covenants and agrees that'it will not, without
<br />the prior written consent of Mortgagee, mortgage or encumber the property,
<br />or assign or attempt to assign the rents, or any part thereof, from said '
<br />property. If such action is .Laken or attempted without th8 prior written
<br />consent of the Mortgagee, all of the indebtedness secured hereby shall, at the
<br />option of the Mortgagee, become immediately due and payable and this Mortgage
<br />shat) be deemed to be in default. Consent to any one such transaction shall
<br />not be deemed to be a consent to or a waiver of the right to require such
<br />consent for succeeding transactions.
<br />1&. In the event of default in the performance of any of the terms,
<br />conditions or provisions of the Note secured hereby ar of this Mortgage or
<br />any other securing agreement now or hereafter given in connection with the
<br />loan secured hereby, Mortgages shall be entitled to the immediate possession
<br />of the mortgaged premises; together with all rents, issues and profits to be
<br />derived therefrom until the indebtedness secured hereby is fully paid; but
<br />Mortgagee shall, in no event, be liable for the failure to procure tenants, to
<br />collect rents ar to prosecute actions to recover possession of said premises.
<br />In addition to the foregoing remedy, after the happening of any default-under
<br />any of the foregoing and during the continuance of any such default, Mortgagee,
<br />in any suit to foreclose this Mortgage, shall be entitled to the appointment of a
<br />receiver of the rents, issues and profits of the mortgaged premises as a matter
<br />or right and without notice, with power to collect the rents, issues and profits
<br />of said mortgaged premises due and becoming due during the pendency of such
<br />foreclosure suit and until the confirmation of sale made under a judgment of
<br />such foreclosure, such rents and profits being hereby expressly assigned and
<br />pledged as additional security for the payment of the indebtedness secured by
<br />this Mortgage without regard to the value of the mortgaged premises or the
<br />solvency of any person or persons liable for the payment of the mortgage
<br />indebtedness, and regardless of whether Mortgagee has an adequate remedy
<br />at law. The Mortgagor, for itself and any subsequent owner, hereby waives
<br />any and all defenses to the application for a receiver as above and hereby
<br />specifically cansent5 to such appointment without notice, but nothing herein
<br />contained is to be construed to deprive the holder of the Mortgage of any
<br />other right, remedy or privilege it may now have under the law to have a
<br />receiver appointed. The rights and remedies herein provided for shall be
<br />deemed to be cumulative and in addition to, and not in limitation of, those
<br />prayir~aeyl by law. f=rom any said re^ts, i5SL1e.~. and pr^,flts ^tleCted br the
<br />receiver prior to a foreclosure sale shat) be deducted the cost of collection
<br />thereof, including, but not limited to, real estate commissions, receiver's ar.d
<br />attorneys' fens and court costs, and the remainder shall be applied against
<br />the indebtedness hereby secured.
<br />19. That in case of foreclosure of this Mortgage in any court of law
<br />or equity, whether or not any order or decree shall have been entered therein,
<br />and to the extent permitted by law, a reasonable sum shall be allowed for
<br />attorneys' fees of the plaintiff in suds proceeding for stenographers' fees and
<br />far all moneys extended for documentary evidence and the cast of a complete
<br />aiasir~t of title and tltie report for the purpose of such foreclosure, such
<br />sums to be secured by the lien hereunder; and, to the extent permitted by law,
<br />there Shall be included in any judgment ar decree foreclosing this M1iortgage and
<br />
|