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201007999
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201007999
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Last modified
1/11/2011 2:17:00 PM
Creation date
10/29/2010 8:53:42 AM
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DEEDS
Inst Number
201007999
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201007999 <br />or incansistent with the provisions of the Illinois Mortgage �'oreclosure Law (735 ILCS 5/1S <br />1101), apply to and be included in: <br />(A) detenmination of the amount of �bligations by the <br />Mortgage at any time; <br />(B) the Obligations found due and owing ta the Administrative <br />Agent in the judgment of foreclosure and any subsequent supplemental judgments, orders, <br />adjudications ar findings by the court of any additianal Obligations becoming due after such <br />entry of judgment, it being agreed th.at in any foreclosure judgment, the court may reserve <br />jurisdictian for such purpose; <br />(C) if right of redemption has not been waived by the <br />Mortgagor in the Mortgage, computation of amount required to redeem, pursuant to Subsections <br />(d)(2) and (e) of Section 5/15 1b03 of the Illinais Martgage Foreclosure Law (735 TLCS 5/15 <br />1101); <br />(D) determination of amount deductible from sale proceeds <br />pursuant to Sectioan 5/1S 1512 of the Illinnis Mortgage Foreclosure Law (735 ILCS 5/1S 1101); <br />(E) application of income in the hands of any receiver or the <br />Administrative Ag�nt in passessian; and <br />(F) computatian of axay deficiency judgment pursuant to <br />Subsections (b)(2) and (e) of Sections S/1 S 1508 ar�d S�ctian 5/15 1511 of the Illinois Mortgage <br />Foreclosure Law (735 ILCS S/1S 1101). <br />ARTICLE X <br />Special Michigan Provisians <br />Section 10.1. Inconsistencies. With respect to th.e Praperty located in the state of <br />Michigan, th� provisions set forth in this Article shall apply to and be made a part af the <br />Mortgage. In the event of any inconsistencies between the terms and pravisions of this Article <br />and the other terms and provisians af this Martgage, or to the extent, and only to the extent, any <br />of the terms and provisions in this Article conflict with, or a�re ambiguous when read together <br />with, any of the other terms and provisions of this Mortgage, the provisions of this Article sha11 <br />govern. Capitalized words and phrases contained in this Article shall have the definition ascribed <br />to them in the main body of the Mortgage, unless the cantext manifestly requires otherwise. <br />Section 10.2. Statutary Waste. The failure of Mortgagor to pay taxes or assessments <br />assessed against the Properties or any installment thereof, or any premiums payable with respect <br />to any insurance policy covering the Properties, shall constitute waste as provided by Michigan <br />Compiled Laws, 1948, as amended, Section 600.2927. Mortgagar hereby consents to the <br />appointment of a receiver under said statute should Administrative Agent elect to seek such <br />reli.ef, <br />59 <br />
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