|
<br />I
<br />
<br />83-fW5385
<br />
<br />3.
<br />
<br />
<br />and prosecute in its own name in the action or proceedings, or to make any compromise or
<br />settlement in connection with such taking or damage. All such compensation, awards,
<br />damages. ri ghts of act Ion and proceeds are hereby ass i gned to t-1ortgagee, who may,atter
<br />deduct I ng trerefrol11 a II of I ts expenses, i nc I ud I ng attorney's fees, re I ease an<( money so
<br />rete I 'led Dy it or app I I' the same. on any i ndebtedncss secured hereDy. Mortgagor'agrElesc:to,
<br />execute such further ass i gnments of any compensat ion, awards, damages and ri ghts of'aGtion
<br />and proceeds as Mortgagee may require.
<br />10, That t~orTgagor shall comply, at all times, with all federal and state laws, ail
<br />municipal ordinances and al J rules and regulations of any governmental entity having
<br />juri sd i ct i on over the p remi ses, insofar as sa i d laws, ord I nances, ru I es and regulat ions
<br />pertain In any way to the premises and their use.
<br />II. That the Mortgagee, and any persons authorized by Mortgagee, shall have the
<br />to enter and inspect the premises at al I reasonable times.
<br />12. Mortgagor wi II not further mortgage or encumber the premises, or assign, or
<br />attempt to assign, the rents, or any part thereof, from said premises. Mortgagorvtill
<br />not, except where the lessee is in default thereunder, terminate or consent to the cancel-
<br />lation or surrender of any lease of the premises, or any part thereof, now existing or
<br />hereafter made, or mod i fy any such I ease so as to shorten the unexp i red term thereof or
<br />so as to decrease the amount of rents payab Ie thereunder, or accept payments of any
<br />installments of rent to become due under such leases for a period of more than one. month
<br />in advance. Mortgagor \~i I I not execute any iease of any portion of the premises except
<br />for actual occupancy Dy the lessee thereunder, wi I I at all times promptly and faithfully
<br />perform, or cause to be performed, all of the covenants, conditions and agreements
<br />contained in ai I leases of the premises no" or hereafter existing, on the part of the
<br />I essor thereunder to De kept and performed; a I I I eases upon the mortgaged premi ses shall
<br />be in form and substance satisfactory to ~Jortgagee and, at the option of Mortgagee, shall
<br />be assl gned to ~10rtgagee.
<br />13. in the event that Mortgagor makes an assignment for the benefit of creditors, a
<br />receiver is appointed for the Mortgagor or for all or any part of the premises, or If
<br />Mortgagor files a petition Of' Institutes proceedings In bankruptcy or is adjudicated a
<br />bankrupt under any state law for the rei ief of deDtors or under the Dankruptcy laws
<br />of the United States, or if any of the foregoing shall happen i'o any co-maker or guarantor
<br />of the promissory note secured hereDy, then, or at any time thereafter, the whole of the
<br />aforesaid indebtedness and all other sums secured Dy this mortgage and any other securing
<br />agreement given In connection with this loan shall become due and payaDle at once aY the
<br />opt I on of the t40rtgagee and ;'lortgagee sha II be ent I tied to dec I are th i s mortgage to be in
<br />defau It. The acceptance of one 0'- more payments on the indebtedness or any sums secured
<br />Dy this mortgage made by anyone other than the 1-10rtgagor prior to confirmation of fore-
<br />closure sale shall not constitute i-lortSjagee's IVaiver of its right to accelerate the
<br />maturity of the aforesaid indebtedness and all other sums secured hereby.
<br />14, [\10 remedy conferred upon or reserved to Mortgagee In this mortgage or any other
<br />secur I ng agreement is.; ntended to De exc I us i ve '1.f any other remedy or remed I es (and each
<br />and every such remedy shall be cumulative, and ,lima I I De In addition to every other remedy
<br />given hereunder, or noIY or hereafter) existing, at law, in equity or by statute. No delay
<br />or omiss'lon of Mortgagee to exercise any right or pO\~er accruing upon any default shall
<br />impair any such right or po\<er, or shall De construed '1'0 be a "alver of any such default,
<br />or an acqu I escence there In; and every power and remedy given Dy th i s mortgage to the
<br />Mortgagee may De exercised from time to time as often as may be deemed expedient to
<br />r~ortgagee .
<br />15. ~brtgagor wi I I keep adequate records and books of account in accordance with
<br />generally accepted accounting principles and wi II deliver to ~iortgagee, within 45 days
<br />after the close of each of Mortgagor's fiscal years an Itemized st.atement certified by
<br />an off I cer of Mortgagor sho..i ng a II i terns of income and expense for the mortgaged property,
<br />setting forth in each case, in comparative form, figures for the preceding yealft. Through-
<br />out the term of this mortgage, ~brtgagor. with reasonaDle promptness, wi II del rver to
<br />Mortgagee such other Information with respect to the mortgaged premises as Mortgagee may
<br />reasonab I I' request from time to time. A I I f inane i a I statements sha I I be prepared In
<br />accordance with generally accepted accounting practice and shall be del ivered in dupl icate.
<br />NoIY I f said Mortgagor shall payor cause to De paid said sums of money when due as
<br />set forth in sa I d Note. and In th is Ins trument, and any add I t I ana I advances made, with
<br />interest, as herein provided, and shall also have paid all other indeDtedness secured Dy
<br />this Mortgage and shall have faithfully and fully kept and performed each and all of the
<br />c9ve?ant15andagr.eements here i neon ta I ned or conta i ned in sa i d Note or any other notes or
<br />agi"eElmentsfor addit.lonal. advances, then this conveyance shall De null and void, otherwise
<br />Itslv:lIl remain in fuil force and effed.
<br />ILdefCiult shCillbemqde in any payment due on said Note or this instrument, or on
<br />aoy otherm;>tes or agreements for add i tional advances; or in keep i ng the i mprovemrmts on
<br />Si9Ldf1remJS1i!s insure,d' as, aforesaid, with loss, I f any, payable to said Association; or in
<br />p~Y!l1$,nt dtta?<.esor assessments of any nature upon sa i d .premi ses or tll is r-!odgage or
<br />l[l.del,'>tedne,ss se,:u{edthereby, before the same Decome de I Inquent, If prov i s ion for advance
<br />pay.ffifjrtthafi;not beenmade as descr I bed above, or in the event thai the regu I remenT for
<br />advari<ie. paYllle.n:t$ls.waived; or in the ever.t that~brtgagor fa.i Isto conform to and comply
<br />Yf:ttr-,--o.r -shqiJ__I~--bt~~,rwJ5_e br~,_ach any of the,_condi-tions, covenants or agreements contained
<br />"j 0"_ t~l!:S_ ~rtgage j or -th.e,_ NQte _w_h,i ch: it secures, or any other notes or agreements f\.)r
<br />
<br />
<br />
|