3. HRSR 05-16-2005 - Laserfiche WebLink

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12. PROTECTION OF MORTGAGEE'S SECURITY. If Mortgagor fails to perform any of the covenants and agreements contained in this Mortgage, or if any action or proceeding is commenced that does or may adversely affect the Mortgaged Property or the interest of Mortgagor or Mortgagee therein, or the title of Mortgagor thereto, then Mortgagee, at its option, and without waiving other remedies, may perform such covenants and agreements, defend against and/or investigate such action or proceeding, and take such other action as it deems necessary to protect its interest. Mortgagor irrevocably authorizes and empowers Mortgagee to enter upon the Mortgaged Property as its agent, and in its name or otherwise, to perform any and all covenants and agreements to be performed by it as herein provided. The Mortgagee shall, at its option, be subrogated to any encumbrance, lien, claim, or demand, and to all the rights and securities for the payment thereof, paid or discharged with the principal sum secured hereby, or by it under the provisions hereof, and any such subrogation rights shall be additional and cumulative security for this Mortgage. Nothing contained in this Section 12 shall require Mortgagee to incur any expense or do any act hereunder, and Mortgagee shall not be liable to Mortgagor for any damages or claims arising out of action taken by it pursuant to this Section 12. Any amounts disbursed or incurred by Mortgagee pursuant to this Section 12, including but not limited to reasonable attorney's fees, with interest thereon at the rate provided in the Note, shall become additional Indebtedness of Mortgagor, payable upon demand, and shall be secured by this Mortgage. 13. CONDEMNATION. Mortgagor hereby irrevocably assigns to Mortgagee any award or payment that becomes payable by reason of any taking of the Mortgaged Property, or any part thereof, either temporarily or permanently, in or by condemnation or other eminent domain proceedings, or by reason of sale under threat thereof, or in anticipation of the exercise of the right of condemnation or other eminent domain proceedings. Mortgagor will file and prosecute in good faith and with due diligence what would otherwise be its claim in any such award or payment, and will cause the same to be collected and paid over to Mortgagee, and Mortgagor irrevocably authorizes and empowers Mortgagee (which power is coupled with an interest and is irrevocable), in the name of Mortgagor or otherwise, to file, prosecute, settle, or compromise any such claim, and to collect receipt for and retain the same. The proceeds of the award of payment may, subject to the provisions contained in Section 6 hereof, after deducting all reasonable costs and expenses which may have been incurred by Mortgagee in the collection thereof, at the sole discretion of Mortgagee, be released to Mortgagor, applied to restoration of the Mortgaged Property, or applied in reduction of the Indebtedness secured hereby. 14. REAMORTIZATION. At the option of Mortgagor, the Indebtedness may be reamortized on terms acceptable to Mortgagee i£ (i) a partial prepayment results from an award