81006028 - Laserfiche WebLink

Browse

~1~ t~~602 8. Assi nq ment of Rents. To further secure the Note, Mortgagor hereby assigns to the Mortgages, all the rents, revenue, profits and income from the Mortgaged Property and the possessian thereof for the purpose of collecting and enforcing the same. Mortgagor does hereby constitute and appoint the Mortgagee its true and lawful attorney-in-i:^t for the purpose of taking possession of the Mortgaged Property and collecting all cf the rents, revenue and income thereof and to pay from the money collected from the Mortgaged Property all fees, .:ommissions, and expenses incurred in renting and managing the same and collecting the rentals therefrom, and to pay the taxes, assessments, and insurance premiums on the Mortgaged Property and the interest, charges, and principal due under the Note, this Mortgage or any agreement securing the Note. 9. Receivership. Mortgagee, in any action to foreclose this Mortgage, shall be entitled, without notice to anyone and without regard to the adequacy of of the security for the debt secured by this Mortgage or to the solvency or insolvency of anyone responsible for the payment of such debt, to the appointment of a receiver of the Mortgaged Prnperty and the rents, profits, reve~c.ue and income of the Mortgaged Property, notwithstanding that the Mortgaged Prnperty or any part thereof may be occupied then by the Mnr ty^ay^nr .,~ ~a nY our. caanr lri nwiler 8iaip. Tf any action or proceeding be commenced in which Mortgagee is made a party, or in which it becomes necessary to defend or uphold the lien of this Mortgage, all expenses paid by Mortgagee in connection with such action, proceeding or defense (including reasonable attorneys' fees to the extent permitted by law) shall be paid by Mortgagor, with interest at the highest legal rate applicable to a natural person, or if the Mortgagor is a corporation or partnership or other entity at the default rate provided in the Note and any such sums and the interest thereon shall become part of the debt secured by this Mortgage. 10. Miscellaneous. AlI of the rights and remedies res~;rved to the Mortgagee and all of the obligations herein imposed upon the Mortgagor shall be deemed to run with the land. and shall be for the benefit of the successors and assigns of the Mortgagee and shall bl.nd the heirs, rera4nal representatives, successors and assigns of the Mortgagor, and all grantees of the Mortgaged Prnperty ar any part thereof, their heirs, personal representatives, successors and assigns. In the event any of the provisions of this Mortgagor or the Note shall beheld to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provision of this Mortgage, but this Mortgage shall be construed as if such invalid, illegal or unenforceable provision had never been contained herein or in the Note. 11. Satisfaction. Upon the full payment of the debt secured hereby and the full ptarformance of all the covenants and conditions of the Note, this Mortgage or any other agreement securing the Note, at the time and in the manner specified, then this Mortgage shall be void. 12. Future Advannes. This Mortgage shall secure the Note and any and all future advances made to F3ELS by the Mortgagee with or without notice to the other mortgagors. This provision shall not constitute an obligation upon nr commitment of the Mortgagee to make additional advances or loans to the Mortgagor.