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80004011
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Last modified
1/13/2010 8:28:53 PM
Creation date
1/13/2010 8:28:44 PM
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DEEDS
Inst Number
80004011
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That should the premises or any part thereof be taken ~a riamaged by reiss<m of any pubhr ,mproveme.^.t ar w ~Fmrai:on <br />proceeding. ar undec the right of eminent domain, or in any other manner. the vlurtgagee shall F entitlw3 fo all rum{ _rsatiu s, <br />awards. and any other payment az relief therefor, and shat[ be en8tled, at its nptian. to rnmmence. appear in and prosecute m iL <br />own name any action or Proceeding. or t, make any compromise or settlement in cnnnertinn with sv h taking or damage. ell such <br />compensation. awards, damages, right of action and proceeds are lwreby assigned in Lhe Mortgages. who may, after deducting <br />therefrom all its ezpenses, release any moneys so re...eived by it or apply the same an any indebtedness secured hereby. The hfort- <br />gagor agrees to ezecvte such further assignments of any compensation. awards, damages, and riRnL of action and pra eds as the <br />Mortgagee may require. <br />That in case of failure io per6rm any of the revenants herein- the ;vtortgagee may do on the Mortgagor's behat( everything <br />so covenanted: that the ivfurtgagee may also do any act it may deem necessary t<> protect the lien thereof; that the Mortgagor will <br />repay upon demand any moneys paid or disbursed by the Aortgagee far any of the alwve purposes. and such moneys fogetlier with <br />interest thereon a[ the rate provided in said note shall become so much additional indebtedness hereby secured and may he in- <br />cluded in any decree foreclosing this mortgage and 6e paid out of the rents or proceeds of sale of said premises it not otherwise <br />paid; that it shall not he obligatory upon the Mortgagee to inquire into the validity of any lien. encumbrances, or claim in ad- <br />vandng moneys as ab<we authorized, buz nothing herein contained shall be construert as requiring the Mortgagee-to advance- any <br />mortays for any such purpose nor to do.any act hereunder, and that Mortgagee shall not incur any personal liability because of any- <br />thing it may do or omit to do hereunder. <br />In the even[ of the de(autt by Mortgagor in the payment n( any installment, as required by [he Note secured hereby. or <br />in the performance of the obligation in this mortgage or in fhe note secured thereby. the Mortgagee sha)1 be entitled '!n declare the <br />debt secured hereby due and payable without notice, and the- Mortgagee shall he entitled at its option, without notice, either by itse}( <br />or by a receiver to be appointed by the court thereof, and without regard to the adequacy of any security fur the indebtedness se- <br />cured hereby, to enter upon and take pos§ession of the-mortgaged premises, and to tollec[ and receive-the rents,-issues and profits <br />thereof, and apply the same, less costs of operation and collection. upon the indebtedness secured hy. this mortgage; -said rents, <br />issues and profits being hereby assigned to the Mortgagee as further security for the payment of all indebtedness secured hereby. <br />The Mortgagee shall have the power to appoint any agent or agents it may desire for the purpose of repairing said prem- <br />ises; renting the same; collecting the rents, revenues and income, and it may pay nut of said income all ezpenaes incured in rert- <br />ing and managing the same and of collecting the rentals therefrom. The balance remaining, if any. shall he applied toward the <br />dixharge of the mortgage indebtedness. This assignment is to terminate and become null and void upon release of this mortgage. <br />- e _- zco c~ ~ rn <br />--_.~ - f 3 <br />f m' <br />' ~ !"'` to <br />cn Y <br />to <br />O <br />L~ <br /> <br /> <br />
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