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81004934
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Last modified
1/14/2010 8:45:53 PM
Creation date
1/14/2010 8:45:40 PM
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DEEDS
Inst Number
81004934
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<br />_ ~_ <br /> <br />purposes, and any sums so expended by the mortgagee shall be added <br />to the. indebtedness secured hereby and become subject to the lien <br />hereof. Mrtgagee shall not incur any personal liability because <br />of anything the mortgagee may do or omit to do hereunder. <br />7. Default; Assignment of Rents. Time is of the essence <br />hereof, and upon mortgagors` default in any covenant or agreement <br />of this mortgage, including covenants to pay when due the sums <br />secured by this mortgage, the mortgagee shall be entitled, at <br />mortgagee's sale option and without notice, to declare all sums <br />secured by this mortgage to be immediately due and payable and <br />may commence foreclosure of this mortgage by judicial proceedings; <br />and, provided further, that upon such default the mortgagee, or a <br />receiver appointed by a Court, may at their option and without regard <br />to the adequacy of the security, enter. upon and take possession of <br />the property, collect the rents, issues and profits therefrom and <br />apply them first to the cost of coliectian and operation of the <br />propert}• and then upon the indebtedness secured by this mortgage; <br />said rents, issues and profits being assigned to the mortgagee as <br />further security for the irayrtt~:rt of the indebtedness scoured hereby. <br />ii. 'srarrsf:sr of property. if ail. ar any mart of thc~ property <br />is acrid ar transferred by the mortvavor, mortaauee, may at their <br />svlc~ aption, declare all Burns secut-«cl tag this t~tortgay« to b« <br />immediately due and payable. <br />9. Miscellaneous provisians. A. Any forbearance in exercising <br />any right ar remedy shall not be a waiver thereof. <br />~j, All renlt?di,€~6 prcrvlded t1Sr'gin are dlStinr~t dnd GlrmRlati~« <br />to any other riyt'rt afforded by law or equity, and may be exercised, <br />concurrerst.ly, independently or successively. <br />C. `I'he covenants and agreements contained herein shall bind, <br />and the rights anur to: The respective successors, heirs, and <br />assigns of the mortgagor and th€~ mortgagee.. <br />
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