06-10-2026 Council Packet - Laserfiche WebLink

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(f) If received prior to any foreclosure sale of the Premises, to Mortgagee for payment of the indebtedness secured by this Mortgage, but no such payment made after acceleration of the indebtedness shall affect such acceleration; and (g) If received during, or with respect to, the period of redemption after a foreclosure sale of the Premises: (1) If the purchaser at the foreclosure sale is not Mortgagee, first to Mortgagee to the extent of any deficiency of the sale proceeds to repay the indebtedness secured by this Mortgage, second to the purchaser as a credit to the redemption price, but if the Premises is not redeemed, then to the purchaser of the Premises; and (2) If the purchaser at the foreclosure sale is Mortgagee, to Mortgagee to the extent of any deficiency of the sale proceeds to repay the indebtedness secured by this Mortgage, and the balance to be retained by Mortgagee as a credit to the redemption price, but if the Premises is not redeemed, then to Mortgagee whether or not any such deficiency exists. Section 2.6 SURVIVAL OF RIGHTS AND OBLIGATIONS. The entering upon and taking possession of the Premises, the collection of such rents and profits, and the application thereof as aforesaid shall not cure or waive any default under this Mortgage nor in any way operate to prevent Mortgagee from pursuing any other remedy which it may now or hereafter have under the terms of this Mortgage, nor shall it in any way be deemed to constitute the Mortgagee a mortgagee-in-possession. The rights and powers of Mortgagee hereunder shall remain in full force and effect, both prior to and after any foreclosure of this Mortgage and any sale pursuant thereto, and until expiration of the period of redemption from said sale, regardless of whether a deficiency remains from said sale. The rights contained herein are in addition to and shall be cumulative with the rights given in this Mortgage and in any separate instrument, if any, assigning any leases, rents, and profits of the Premises and shall not amend or modify the rights in any such separate agreement. Section 2.7 NO LIABILITY FOR MORTGAGEE. Mortgagee shall not be obligated to perform or discharge, nor does it hereby undertake to perform or discharge, any obligation, duty, or liability of Mortgagor under the leases. This Mortgage shall not operate to place upon Mortgagee responsibility for the control, care, management, or repair of the Premises, or for the carrying out of any of the terms and conditions of the leases. Mortgagee shall not be responsible or liable for any waste committed on the Premises, for any dangerous or defective condition of the Premises, for any gross negligence in the management, upkeep, repair, or control of the Premises, or for failure to collect the rents. Section 2.8 MORTGAGOR’S INDEMNIFICATION. Mortgagor shall and does hereby agree to indemnify and to hold Mortgagee harmless of and from any and all claims, demands, liability, loss, or damage (including all costs, expenses, and reasonable attorney's fees in the defense thereof) asserted against, imposed on, or incurred by Mortgagee in connection with or as a result of this Mortgage, or the exercise of any rights or remedies under this Mortgage or under the leases, or by reason of any alleged obligations or undertakings of Mortgagee to