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<br /> 78_ U01141
<br /> with companies acceptable to the Mortgagee , and with loss payable
<br /> to the Mortgagee . In case of lcss under such policies the Mortgagee
<br /> is authorized to adjust , collect and compromise , in its discretion , �
<br /> all claims thereunder at its sole option , authorized to either apply
<br /> the proceeds to the restoration of the Froperty or upon the indebted-
<br /> ness secured hereby , but payments hereunder shaZl continue until the
<br /> sums secured hereby are paid in full .
<br /> 5 . Escrow for Taxes and insvrance . Notwithstanding anything
<br /> contained in Paragraphs 3 and 4 hereof to the contrary , Mortgagor
<br /> shall pay to the Mortgagee at the time of paying the monthly install -
<br /> ments of principal and interest , one- twelfth of the yearly taxes ,
<br /> assessments , hazard insurance premiums , and ground rents ( if any )
<br /> which may attain a priority over this Mortgage , all as reasonably
<br /> estimated from time to time by the Mortgagee _ The amounts so paid
<br /> shall be held by the Mortgagee without interest and applied to the
<br /> payment o £ the items in respect to which such amounts were deposited .
<br /> Mortgagor shall pay to Mortgagee the amount of any deficiency between
<br /> the actua2 taxes , assessments , insurance premiums and ground rents
<br /> and the deposits hereunder within 10 days after demand is made upon
<br /> Mortgagor requesting payment thereof .
<br /> 6 . Repair , Maintenance and Use . 'I'o promptly repair , restore
<br /> or rebuild any buildings or improvements now or hereafter on the
<br /> Property ; to keep the Property in good condition and repair , without
<br /> waste , and free from rnechanic ' s or other liens not expressly sub-
<br /> ordinated to the lien hereof ; not to make , suffer or permit any
<br /> nuisance to exist , nor to diminisYt or impair the value of the Property
<br /> by any act or omission to act ; and to comply with all requirements of �
<br /> law with respect to the Property .
<br /> 7 . Condemnation . In the event the Property , or any part thereof ,
<br /> shall be taken by eminent domain , the Mortgagee is empowered to
<br /> collect and receive all compensation which may be paid for any property
<br /> talcen or for damages to property not taken , and Mortgagee shall apply
<br /> such compensation , at its option , either to a reduction of the indeb-
<br /> tedness secured hereby or to repair and restore the property so
<br /> damaged .
<br /> 8 . Performance by Mortgagee . Mortgagee may , but sha11 have no
<br /> obligation , to do any act which the Mortgagor has a _qreed but fails to
<br /> do , and Mortgagee may also do any act it deems necessary to protect
<br /> the lien hereof . Mortgagor agrees to repay , upon demand , any sums so
<br /> expended by the Mortgagee for the above purposes , and any sums so
<br /> expended by the Mortgagee shall be added to the indebtedness secured
<br /> hereby and become subject to the lien hereof . Mortgagee sl-iall not
<br /> incur any personal liability because of anything it may do or omit
<br /> to do hereunder .
<br /> 9 . Default ; Assignment of Rents . Time is of the essence hereof ,
<br /> and upon Mortgagor ' s default in any covenant or agreement of this
<br /> Mortgage , including covenants to pay when due the sums secured by
<br /> this Mortgage , the Mortgagee shall be entitled , at its sole option
<br /> and without notice , to declare all sums secured by this Mortgage to be
<br /> immediately due and payable and may commence foreclosure of this
<br /> Mortgage by judicial proceedings ; and , provided further , that upon
<br /> such default the Mortgagee , or a receiver appointed by a court , may at
<br /> its option and without regard to the adequacy of the security , enter
<br /> upon and take possession of the Property and collect the rents , issues
<br /> and profits therefrom and apply them f irst to the cost of collection
<br /> and operation of the Property and then upon the indebtedness secured
<br /> by this Mortgage ; said rents , issues and profits being assigned to
<br /> the Mortgagee as further security for the payment of the indebtedness t
<br /> secured hereby .
<br /> 10 . Transfer of Property . If all or any part of the Property is "'-" ` �
<br /> sold or transferred without the express written consent of the Mort- � ' `
<br /> gagee , Mortgagee may at its sole op�tion , declare all sums secured by
<br /> this Mortgage to �be immediately due and payable .
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