6.3. EDSR 09-04-2018 - Laserfiche WebLink

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ARTICLE THREE ACCELERATION AND FORECLOSURE; OTHER REMEDIES Upon any Event of Default, Mortgagee may, at its option, exercise one Or more of the following rights and remedies (and any other rights and remedies available to it): 3.1. Acceleration. Mortgagee may declare immediately due an4 payable all unmatured Obligations secured by this Mortgage, and the same shall thereupon b� immediately due and payable, without notice or demand. 3.2. UCC Remedies. Mortgagee shall have and may exercise with respect to all fixtures and any personal property included in the Mortgaged Property, all the rights and remedies accorded upon default to a secured party under the Uniform Comm.erci4l Code, as in effect in the State of Minnesota. 3.3. Foreclosure, Action or Advertisement. Mortgagee may (and is hereby authorized and empowered to) foreclose this Mortgage by action or advertisement, pursulant to the statutes of the State of Minnesota in such case made and provided, power being expressly 0anted to sell the Mortgaged Property at public auction and convey the same to the purchaser to the full extent of Mortgagor's interest and, out of the proceeds arising from such sale, to pay all Obligations secured hereby with interest, and all legal costs and charges of such foreclosure and the maximum attorneys' fees permitted by law, which costs, charges and fees Mortg4gor agrees to pay. Any real estate or interest or estate sold hereunder may be sold in one parcel, 0 an entirety, or in such parcels and in such manner or order as Mortgagee, in its sole discretion, Imay elect. In case of any sale of the Mortgaged Property pursuant to any judgment or decree: of any court or at public auction or otherwise in connection with the enforcement of any of the terms of this Mortgage, Mortgagee, its successors and assigns, may become the purchaser, and fbr the purpose of making settlement for or payment of the purchase price, shall be entitled to de�iver over and use any sum then due under the Note and any claims for interest accrued and u*paid thereon, together with all other sums, with interest, advanced and unpaid hereunder. ana all statutory charges for such foreclosure including maximum attorney's fees allowed by lawj in order that there may be credited as paid on the purchase price the sum then due under the Not and all other sums, with interest, advanced and unpaid hereunder, and all charges and expenses of such foreclosure including maximum attorneys' fees allowed by law. 3.4. Receiver. Mortgagee shall be entitled as a matter of right withdut notice and without giving bond and without regard to the solvency or insolvency of Mortgagor, or waste of the Mortgaged Property or adequacy of the security of the Mortgaged Property, td apply for the appointment of a receiver, in accordance with the statutes and law made and provided. The receiver shall collect the rents, and all other income of any kind; manage the Mortgaged Property so to prevent waste; execute leases within or beyond the period of receivership, pa� all expenses for normal maintenance of the Mortgaged Property and perform the terms of this Mortgage and apply the rents, issues and profits as permitted by Minnesota Statutes, Section $76.25 in the following order to (i) payment of the reasonable fees of said receiver, (ii) applicaltion of tenant security deposits as required by Minnesota Statutes Section 504B.178, (iii) payme when due of 11 487519v3 EL185-45