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<br />*without the prior. written consent of the Mortgagee, which consent shall nat be unreasonably with-
<br />held, and provided further that the now owner does reexecute the Escrow Agreement referred to
<br />in Paragraph 13 hereof and does deliver to Nort/gaggaefully executed Deed in Lieu of Foreclosure
<br />in its name as Grantor in the form referred to in said Escrow Agreement
<br />i1»el it is further agreed that should thirty (34) days' default be made in the payment of
<br />any such tae, assessment; water rents or governmental charge, or in the payment of a premium
<br />for such insurance or shoztld any default be made in the obligation fo keep the, mortgayed property
<br />iii satiafdctory repair and condition, then the Mortgagee may pay any such tar, assessment, water
<br />rents, governmental charge, insurance premium or the cost of placing the mortgaged property in
<br />~ satiafaetary repair and condition, and the amount so pawl shall be added to the monez,/s oaring on
<br />~ said note-and shall be secured hereby and shall be due and payable on demand with interest at the
<br />°~i rate of * per cent per annum; *in the Nate
<br />~'~ AlI~! it is further agreed that the Mortgagor shall deliver to the Mortgagee receipts
<br />~ evidencing payments of Lazes, assessments, water rents and other governmental charges utithtin
<br />ten days after payment thereof. If such receipts are not so delivered within tent days after such
<br />lance and other charges shalt become duce and payable, then the Mortgagee shall have the right
<br />~ to procure an official tar search, the cost of zvh:ch shall be added to the moneys owing on such
<br />note-and shall be due and payable upon demand;
<br />~r1ltD it is further agreed that the Mortgagee shall have the authority to demand and
<br />reeeiue all moneys payable under any of saint policies of insurance, and to settle or eampmmise
<br />all claims thereunder, and all moneys so received may be apl•'ied on aacoetnt of the indebtedness:
<br />secured hereby or used to repair or replace the buildings on the mar•tg¢,ged prroperty, as the
<br />lVimtgagee shall elect;
<br />2'~ttd it is further agreed that, if at any time all ar anti portion of the tcithin described
<br />premises shall be taken err damaged Iry coouiemnation proceedings under the power of eminent
<br />domain, all somperzsatitm arranged therefor shat 6e paid directly to the :Slortgagee and applied
<br />on the indebtedness hereby secured;
<br />1~tt~ it is further agreed that, if there shall be nny cJtange iu the ownership of the,
<br />mortgaged property,#hen and fn such Brent, tie atnresaid principal -~•znn taith arcrucd interest
<br />skatl, a~t the option of the .Mortgagee, become due and payable immediately, altkough th.e pentad
<br />above limited for the payment thereof may not have expired, nnything herezn contained to the
<br />contrary notwithstanding:
<br />~xh it is further- agreed that the Mortgagee may collect a fate rharrze not to ea•ceed 1:ne
<br />texts for each doUttr zrf crash payment morc than fiifeerz days iu arrears, to cover b`ae rrtra
<br />expense involved in handling del4zzgz<ent payrnez+ts.
<br />~t[l it is' fzsrther agreed that, skoald riefnult he merle in anpz ni the ternzs Pzvreof or of
<br />any obligation secured hereby, then:
<br />(a) The Mortgagee may enter upon and take possexsiora rat the mortgaged property
<br />a>zt1 rent the same, either in its name or in the rza»ze of the au•ner of ..•ueh property, arzd
<br />recei2>e the rents. issues and profits thereof, and apply the same, after the payrneret of the
<br />rteeessary charges and expenses, i:xcludiny managenzext cornmi<ysivns, on czecount of the
<br />moneys hereby secured, being accotantable andy for such. renter and profits as are collected
<br />by it while in pvessession;
<br />!b) The rents, issues anti profits of the mortgaged property, including those which
<br />shall hove aecmed prior to any default rand those which n>r~y thereafter accrue, a-rs hereL•y
<br />assigned to tke Mcrtgayet<;
<br />(e) Upon alto filing of u corrtpl¢int in foreclosure of this rnortgaye, the .Siortgayee shall
<br />be entitled to the appairzfiment of a receiver of the rents of the nzortgtu,/ed property without
<br />the necessity aj p-roving either intutequuty of the security or irtsole~eney of the rtifortgayor err
<br />any person usho znay be legally err equitably liable to pay arzoneys secured hereby, aatd the
<br />Mortgagor and each such person uwive such proof and consent to the appointment of such
<br />receiver.
<br />~- attached Adde7uta, eonsist~zvg of 3 sheets are hereby made a part of thin Irtstrunae9,t-
<br />~4iY marfyage skatl be binding upon the partial herety and their execcttors, admiruslru-
<br />tors, ieeirs, successors and assigns. ?`he word "4lortgayor" shall inctazde the plural thereof if
<br />there be nwre than one.
<br />~# ~ttltly~ ~klftU#, the Mortgagor has set its hand and send err has
<br />txttzs~dtkis Mortgage to be signed by its proper corporate officers arzd its corporato seal hereunto
<br />aired anti attesttrl, the day and year Ernst strove u~a•itten,
<br />----
<br />GRA~ S D TD. f '
<br />5i~ra $rtaled aqb Celia:rrtl ~' ~'
<br />-''' , r y ~ ~ (:
<br />in the }tresentr of BY.:.....-t:. _- .>'.~'-- -<..... t.~ zery .
<br />eter M._r>, Genera Partner
<br />~,..- -
<br />.,~....v.,-,...._..---._._-.,_ __ ..
<br />or -~z,~+--~ , Gerie~ Partner
<br />WAS: ~ By:
<br />~'-_ _...
<br />--.__.._. -•---.......----- •----._-. • e led er, President
<br />Eric W. hnson ~
<br />(reatj
<br />
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