Agenda - Council - 09/26/2017 - Laserfiche WebLink

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Section 4.05. Estonnel Certificate. Mortgagor agrees at any time and from time to time, upon not less than fifteen (15) days' prior notice by Mortgagee, to execute, acknowledge, and deliver, without charge, to Mortgagee or to any person designated by Mortgagee, a statement in writing certifying that this Mortgage is unmodified (or if there have been modifications, identifying the same by the date thereof and specifying the nature thereof), the principal amount then secured hereby and the unpaid balance of the Loan, that Mortgagor has not received any notice of default or notice of acceleration or foreclosure of this Mortgage (or if Mortgagor has received such a notice, that it has been revoked, if such be the case), that no Event of Default or state of facts, which with the giving of notice or passage of time, or both, will constitute an Event of Default, exists hereunder (or if any such Event of Default does exist, specifying the same and stating that the same has been cured, if such be the case), that Mortgagor to its knowledge has no claims or offsets against Mortgagee (or if Mortgagor has any such claims, specifying the same), and the dates to which the interest and the other sums and charges payable by Mortgagor pursuant to the Loan have been paid. Section 4.06. Forbearance Not a Waiver; Rights and Remedies Cumulative. No delay by the Mortgagee in exercising any right or remedy provided herein or otherwise afforded by law or equity shall be deemed a waiver of or preclude the exercise of such right or remedy, and no waiver by the Mortgagee of any particular provision of this Mortgage shall be deemed effective unless in writing signed by the Mortgagee. Any failure by Mortgagee to insist, or any election by the Mortgagee not to insist, upon the Mortgagor's strict performance of any of the terms, provisions, or conditions of this Mortgage shall not be deemed to be a waiver of same or of any other term, provision, or condition hereof and Mortgagee shall have the right at any time thereafter to insist upon strict performance by the Mortgagor of any and all of same. All such rights and remedies provided for herein or which the Mortgagee may have otherwise, at law or in equity, shall be distinct, separate, and cumulative and may be exercised concurrently, independently, or successively in any order whatsoever, and as often as the occasion therefor arises. The Mortgagee's taking action pursuant to Section 3.03 or receiving proceeds, awards, or damages pursuant to Sections 2.01 to 2.07 or 3.04 shall not impair any right or remedy available to the Mortgagee under Section 4.02 hereof. Section 4.07. Marshaling of Assets. Mortgagor, on its own behalf and on behalf of its successors and assigns, hereby expressly waives all rights to require a marshaling of assets by Mortgagee or to require Mortgagee, upon a foreclosure, to first resort to the sale of any portion of the Mortgaged Property which might have been retained by Mortgagor before foreclosing upon and selling any other portion as may be conveyed by Mortgagor, subject to this Mortgage. Section 4.08. Mortgagee's Right to Cure. Upon the occurrence of one of the Events of Default as defined in Section 4.01(e) hereof, Mortgagor shall give written notice to Mortgagee specifying: (i) the Event of Default; and (ii) the action required to cure the event. ARTICLE FIVE MISCELLANEOUS Section 5.01. Successors and Assigns Bound; Number; Gender; Agents; Cantions. The covenants and agreements herein contained shall bind, and the rights hereunder shall inure US.113578590.01 B-2-17