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<br />:) <br /> <br />(iii) should the Premises be subject to actual or <br />threatened waste, or any part thereof, be removed, demolished <br />or materially altered so that the value of the Premises be <br />diminished; <br /> <br />(i v) <br />of record <br />by payment <br />recording; <br /> <br />should claim of lien for labor or material be filed <br />against Mortgagor or the Premises and not be removed <br />or bond within thirty (30) days from date of <br /> <br />(v) should any claim of priority to this mortgage by <br />title, lien or otherwise be asserted in any legal, <br />administrative or equitable proceeding; <br /> <br />(vi) ~hould Mortgagor make any assignment for the <br />benefit of creditors, or should a receiver, liquidator or <br />trustee of Mortgagor or of any of Mortgagor's property be <br />appointed, or should any petition for the bankruptcy, <br />reorginization or arrangement of Mortgagor, pursuant to the <br />Federal Bankruptcy Act or any similar statute, be filed, or <br />should Mortgagor be adjudicated a bankrupt or insolvent, or <br />should Mortgagor if a corporation. be liquidated or dissolved <br />or its charter expire or be revoked. or. if a partnership or <br />business association. be dissolved or partitioned, or. if a <br />trust. be terminated or expire; <br /> <br />(vii) should Mortgagor fail to keep, observe, perform. <br />carry out and execute in every particular the covenants, <br />agreements, obligations and conditions set out in this <br />mortgage, or in the note. or in any of the following <br />instruments given wi.th respect t.c>-the Secured-Ind€btedness: <br />construction commitment of Mortgage, Construction Loan <br />Agreement between Mortgagor and Mortgagee, Assignment of Rents <br />and Leases by Mortgagor; or any other instrument securing this <br />loan or related thereto; <br /> <br />Then and thereupon Mortgagee may immediately do anyone or <br />more of the following, time expressly being made of the <br />essence herein: <br /> <br />(i) enter upon and take possession of the Premises <br />without the appointment of a receiver, or an application <br />therefor, employ a managing agent of the Premises and let the <br />same, either in its own name, or in the name of Mortgagor. and <br />receive the rents, incomes, issues and profits of the Premises <br />and apply the same, after payment of all necessary charges and <br />expenses, on account of the Secured Indebtedness, but only <br />with the consent of Mortgagor, which consent shall be <br />conclusively presumed from Mortgagor's interests in any lease <br />now or hereafter affecting the whole or any part of the <br />Premises; <br /> <br />-7- <br />