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<br />r~ {h) to recover judgment on the Obligation either
<br />before, during, or after any proceedings for the enforcement of this
<br />E4ortgaae; or
<br />(i) to pursue such other remedies as the iAortgagee
<br />may have under applicable law.
<br />The proceeds of any .foreclosure sale shall first be applied
<br />to reimburse American for (1) the costs and expenses of foreclosure
<br />and (21 such additional fees as may be directed by an appropriate
<br />court. Thy balance of the proceeds shall be paid first to American
<br />to pay the Obligation, and the surplus, if any, shall be paid to the.
<br />owner of the Property on the date of the foreclosure sale. In the
<br />event of foreclosure and during the redemption period, interest at
<br />the default rate set forth in the Note shall be payable on all sums
<br />due under the fcreclosure proceeding,
<br />If th iS Mortg agc is foreClGSEd ti,rouy'h file COilr tom, e'uTierCan-
<br />may add to the Obligation outstanding at the time of such foreclosure
<br />an amount equal to the prepayment premium, if any, that would be pay-
<br />able if the Obligation were prepaid at the time of the foreclosure
<br />sale.
<br />14. As further and additional, security for the payment of
<br />the Obligation. secured by this Mortgage, the Mortgagor assigns,
<br />trarsf ers, and sets over unto American the rents, profits, and income
<br />derived Erom the Property and the buildings and improvements on the
<br />Property with the same force and effect as if this assignment were
<br />made in a separate instrument. This assignment is absolute. and
<br />unconditional except that so long as no default shall exist under the
<br />Obligation or this Mortgage, Mortgagor shall have the right to col-
<br />lect, receive, and retain (upon accrual) all such rents, profits, and
<br />income. Upon any default under the Obligation or tills Mortgage,
<br />American shall have full and complete authority and right to demand,
<br />collect, receive, and receipt for such rents, income, and profits, to
<br />take possession of the Property without having a receiver appointed
<br />for such purpose, to rent and manage the same from tiit~ tc time, and
<br />apply the ret proceeds of such rents, income, and profits aeon the
<br />Gcligation until al ~ delinquencies, adva:^.ces, a.'ld v..~ Obiicatien are
<br />paid in full- or until title to the Property is obtained by American
<br />through foreclosure or otherwise. On refusal of the Alortgagar to
<br />deliver possession, such right to delivery and use, enjoyment, rents,
<br />issues, and prof its may be enforced by American or the holder of the
<br />certificate of purchase by any appropriate civil suit or proceeding,
<br />and American or the holder of such certificate of purchase shall be
<br />entitled as a matter of right to a receiver for the "roperty, without
<br />regard to the solvency or insolvency of the Mortgagor or of the then
<br />owner of the Property and without regard to the value of the
<br />Property, and such receiver may be appointed by any court of compe-
<br />tent jurisdiction upon ex parte application and without notice,
<br />notice being expressly waived, and all rents, issues, profits,
<br />income, and revenue therefrom shall be applied by sac:-. receiver
<br />according to law and the orders and directions of the court. The
<br />receiver so appointed by a court of competent jurisdiction shall be
<br />empowered to issue receiver's certificates for funds advanced by
<br />American for the purpose of operating the Property. The amounts evi-
<br />denced by receiver's certificates shall bear interest at the default
<br />rate set forth in the Note and may be added to the cost of redemption
<br />in the event the owners of the Property, the Mortgagor, or some
<br />junior lien holder redeems the foreclosure sale.
<br />15. Mortgagor will not alienate or encumber any part of or
<br />interest in the Property without prior written consent of American.
<br />L In the event of change of ownership of the Property, the new owner
<br />shall assume the Obligation secured by this tortgage; however, in no
<br />event. shall Mortgagor be released from liability under this Mortgage
<br />or the Obligation. American may, without notice to the Piortgaaor,
<br />extend the time of payment of the Obligation or of any part of the
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