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82000174
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Last modified
3/9/2009 6:19:15 PM
Creation date
2/27/2009 11:40:42 AM
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DEEDS
Inst Number
82000174
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.__ <br />9 <br />3 <br /> <br />liens not expressly subordinated to the lien hereof; not to <br />make, suffer or commit any nuisance to exist nor to diminish <br />or impair the value of the property by any act or omission <br />to act; and to comply with all requirements of law with. <br />respect to the property. <br />6. Performance by Mortgagee. Mortgagee may, but <br />shall have no obligation, to do any act which the mortgagor <br />has agreed but failed to da, and mortgagee may also do any <br />act. mortgagee deems necessary to protect the lien hereof. <br />Mortgagor agrees to repay, upon demand, any sums so expended. <br />by the mortgagee for the above purposes, and any sums so <br />expended by the mortgagee shall be added t~ the indebtedness <br />secured hereby and become subject to the lien hereof. <br />Mortgagee shall not incur any personal liability because <br />of anything the mortgagee may da ar omit to do hereunder. <br />?. Default; Assignment of Rents. Time is of the ess- <br />ence hereof, and upon mortgagors' default in any covenant or <br />agreement of this mortgage, including covenants to pay when <br />due the suns secured by this mortgage, the mortgagee shall <br />be entitled, at mortgagee's sole option and without notice, <br />to declare ail sums secured by this mortgage to be immediately <br />due. and payable and :nay co:rmence foreclosure of this mortgage <br />by judicial proceedings; and, provided further, that upon <br />such default the mortgagee, or at receiver appointed by a <br />Court, may at their option and without regard to the adeq- <br />uacy of the security, enter upon and take possession of the <br />property, collect tie rents, issues and profits therefrom <br />and: apply them first to the cost of collection and operation <br />of the property and then upon the .indebtedness secured by <br />this mortgate; said rents, issues and profits being assigned <br />to the mortgagee as further security for the payment of the <br />indebtedness secured hereby. <br />S. Transfer of Property. If all or any part of the <br />property is sold or transferred by the mortgagor, mortgagee, <br />may at their sole option, deciars all sums secured by this <br />mortgage to be immediately due and payable. <br />9. Miscellaneo~~s Provisions. A. Any forbearance in <br />exercising any right or remedy shall not be a waiver thereof. <br />B. All.. remedies provided herein are distinct and cumu- <br />lative. to any other .right afforded by law or equity, and may <br />be exercised, concurrently, independently or successively. <br />C. The covenants and agreements contained herein shall <br />bind, and the rights inure to: The respective successors, <br />heirs, and assigns of the mortgagor and the mortgagee, <br />SS. The headings of the paragraphs of this Mortgage are <br />:for convenience on3y and shall hat be used to interpret ar <br />define the pravasiona hereof. <br />10. Rel:eass. Upon payment of all sums secured by this <br />.mortgage., mortgagee shall discharge this Mortgage and shall <br />ex~cute,ard ueliaer a satisf~ctozy release there far.. <br />-2- <br />
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