Agenda - Council - 07/12/2022 - Laserfiche WebLink

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ARTICLE V MISCELLANEOUS Section 5.1 Miscellaneous. (a) No delay or omission of the Mortgagee or of any holder of the Bonds to exercise any right, power or remedy accruing upon any Event of Default shall exhaust or impair any such right, power or remedy or shall be construed to waive any such Event of Default or to constitute acquiescence therein. Every right, power and remedy given to the Mortgagee may be exercised from time to time and as often as may be deemed expedient by the Mortgagee. (b) If the Mortgagee has proceeded to enforce any right or remedy under this Mortgage by foreclosure, entry or otherwise, and such proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Mortgagee, then, at the option of the Mortgagee, the Mortgagor and the Mortgagee shall be restored to their former positions and rights hereunder, and all rights, powers and remedies of the Mortgagee shall continue as if no such proceeding had occurred or had been taken. (c) No right,power or remedy conferred upon or reserved to the Mortgagee by the Indenture, the Loan Agreement, this Mortgage, the Assignment of Lease or any other Security Agreement is exclusive of any other right, power or remedy, but each and every such right, power and remedy shall be cumulative and concurrent and shall be in addition to any other right, power and remedy given hereunder or under the Indenture, the Loan Agreement, this Mortgage, The Assignment of Lease or any other Security Agreement, or now or hereafter existing at law, in equity or by statute and may be exercised as often as occasion therefor shall arise, all to the maximum extent permitted by law. The Mortgagee's pursuit of any remedy shall not preclude pursuit of any other remedy until the Mortgagee shall have recovered all sums due the Mortgagee, together with interest thereon at the Late Payment Rate and all costs of collection, including reasonable attorneys'fees and appellate attorneys' fees, with interest thereon at the Late Payment Rate. (d) In the event that any of the covenants, agreements, terms or provisions contained in this Mortgage shall be invalid, illegal or unenforceable in any respect, the validity of the remaining covenants, agreements,terms or provisions contained herein shall be in no way affected, prejudiced or disturbed thereby and the provision deemed invalid, illegal or unenforceable shall be severed herefrom. (e) The acceptance by the Mortgagee of any payment which is less than full payment of all amounts due and payable at the time of such payment, even if made by one other than the Mortgagor, shall not constitute a waiver of the Mortgagee's right to exercise its option to declare all amounts payable under the Indenture, Bonds, or Loan Agreement, then remaining unpaid, together with all accrued interest thereon, immediately due and payable without notice or to exercise any other rights of the Mortgagee except and as to the extent otherwise provided by law or this Mortgage. 20 73092175v4