Laserfiche WebLink
<br /> <br />affecting the Mortgaged Property unless the same is being diligently contested by Mortgagor in <br />good faith and by proper proceedings. <br />SECTION 1.6. RIGHT OF MORTGAGEE TO ENTER. Mortgagor will permit Mortgagee <br />and its agents to enter, and to authorize others to enter, upon any or all of the Land, at any time <br />and from time to time after reasonable prior notice (except in the case of an emergency, as <br />determined by the Mortgagee in its reasonable discretion, in which case no notice shall be <br />required), during normal business hours, to inspect the Mortgaged Property, to perform or <br />observe any covenants, conditions or terms hereunder which Mortgagor shall fail to perform, <br />meet or comply with, or for any other purpose in connection with the protection or preservation <br />of Mortgagee’s security, without thereby becoming liable to Mortgagor or any person in <br />possession under the Mortgage. <br />SECTION 1.7. RIGHT OF THE MORTGAGEE TO PERFORM. If Mortgagor fails to pay <br />all and singular any taxes, assessments, levies or other similar charges or encumbrances <br />heretofore or hereafter assessed against the Mortgaged Property or fails to obtain the release of <br />any lien or encumbrance (other than a Permitted Encumbrance) of any nature heretofore or <br />hereafter arising upon the Mortgaged Property or fails to perform any other covenants and <br />agreements contained in this Mortgage or if any action or proceeding is commenced which <br />adversely affects or questions the title to or possession of the Mortgaged Property or the interest <br />of Mortgagor or Mortgagee therein, then the Mortgagee, at the Mortgagee’s option, without <br />notice to Mortgagor, may perform such covenants and agreements, investigate and defend <br />against such action or proceeding, and take such other action as the Mortgagee deems necessary <br />to protect the Mortgagee’s interest. Any amounts disbursed by the Mortgagee pursuant to this <br />Section 1.7, including without limitation court costs and expenses and reasonable attorneys’ fees, <br />with interest thereon, shall become additional indebtedness of Mortgagor, shall accrue interest at <br />8% per annum and shall be secured by this Mortgage. <br />SECTION 1.8. FURTHER ASSURANCES. At any time and from time to time, upon <br />request, Mortgagor will make, execute and deliver or cause to be made, executed and delivered, <br />any and all other further instruments, certificates and other documents as may, in the reasonable <br />opinion of Mortgagee, be necessary or desirable in order to effectuate, complete or perfect, or to <br />continue and preserve, the obligations of Mortgagor hereunder and under the Note and the <br />mortgage and security interest granted by this Mortgage. <br />SECTION 1.9. EXPENSES. Mortgagor will pay for all reasonable attorney’s fees, costs and <br />expenses incurred by Mortgagee in any legal proceeding or dispute of any kind in which <br />Mortgagee is made a part, or appears as party plaintiff or defendant, affecting the Indebtedness <br />Secured Hereby, this Mortgage, the interest created herein or the Mortgaged Property, including <br />but not limited to the exercise of the power of sale set forth in this Mortgage, any condemnation <br />action involving the Mortgaged Property or any action to protect the security. <br />SECTION 1.10. SUBORDINATION TO FUTURE INDEBTEDNESS. Mortgagee expressly <br />agrees that its rights under the Mortgage shall be subordinate to the refinancing of any loan <br />which is secured by a mortgage identified as a Permitted Encumbrance on Exhibit B attached <br />hereto; provided, however, that the foregoing shall not apply in the case of a refinance