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Financial- Stoel Rives LLP
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Last modified
9/19/2012 3:42:32 PM
Creation date
9/8/2011 4:52:50 PM
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Building
RecordID
10235
Title
Financial- Stoel Rives LLP
Company
Marion County
BLDG Date
2/16/1998
Building
Courthouse Square
BLDG Document Type
Finance
Project ID
CS9801 Courthouse Square Construction
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6.2 Proceedines. If any proceedings in condemnation are filed, Mortgagor shall <br />promptly take such steps as may be necessary to defend the action and obtain the award. <br />7. TRANSFER BY MORTGAGOR <br />7.1 Prohibition of Transfer Without Consent. Mortgagor shall not sell, agree to <br />sell, assign, convey, subcontract or otherwise transfer any part or all of the Property or any interest <br />in the Property; provided that the foregoing is not intended, nor shall it be construed, from <br />preventing the Mortgagor from creating condominium interests in the Improvements pursuant to the <br />Condominium Declaration for Courthouse Square Condominium to be entered into by the Mortgagor <br />and the Transit District. <br />9. RELEASE ON FULL PERFORMANCE <br />If Mortgagor pays all of the Indebtedness when due and otherwise performs all the <br />obligations imposed upon Mortgagor under this Mortgage and the Agreement, Mortgagee shall, if <br />requested, execute and deliver to Mortgagor a suitable satisfaction of this Mortgage and suitable <br />statements of termination of any financing statement an file. <br />10. EVENTS OF DEFAULT AND NONAPPROPRIATION EVENTS <br />The occurrence of any Event of Default under and as defined in the Agreement shall <br />~ constitute an Event of Default under this Mortgage. Reference is also made to Section 202(C) of <br />the Agreement which provides for certain consequences upon the occurrence of a Nonappropriation <br />Event. <br />11. RIGHTS AND REMEDIES ON EVENT OF DEFAULT OR <br />NONAPPROPRIATION EVENT <br />11.1 Remedies. In accordance with ORS 271.390, upon the occurrence of an Event <br />of Default or a Nonappropriation Event, the lien of this Mortgage may be forectosed by the <br />Mortgagee by means of a proceeding brought in the circuit court for Marion County, Oregon, and <br />the Mortgagee's interest in the Property may be sold upon the order of the court. <br />11.2 Attomevs' Fees• Ex nses. In the event suit or action is instituted to foreclose <br />the lien of this Mortgage, the Mortgagee shall be entitled to recover its reasonable attorneys' fees <br />at trial, on any appeal and on any petition for review, in addition to all other sums provided by law. <br />11.3 Apnlication of Proceeds from Property. In accordance with the requirements <br />of ORS 271.390, all proceeds realized from the exercise of Mortgagee's rights and remedies shall <br />be applied as follows: <br />~~. <br />MORTGAGE PAGE 5 <br />
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