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such lien by, or defend enforcement of such lien in legal proceedings which operate to prevent the enforcement of the lien or
<br />forfeiture of the Property or any part thereof. `
<br />3. Hazard Insurance. Mortgagor shall keep the improvements now existing or hereafter erected on the Property in-
<br />sured against loss by fire, hazards included within-ttie terrii "extended coverage" -and such other"hazards as Mortgagee may
<br />require and in such amounts and for such periods as -Mortgagee may require; -provided, that Mortgagee shall not require..,
<br />that the amount of such coverage exceed that amount of coverage required to pay the sums secured by this Mortgage.
<br />The insurance carrier providing the insurance shall bee chosen by Alortgagor sub1ect to approval by Mortgagee; provided,
<br />that such approval shall nol• be unreasonably withheld, All premiums on insurance policies shall be paid by Mortgagor making
<br />payment, when due, directly to the insurance carrier.
<br />All insurance policies and renewals thereof shall be in form acceptable to Mortgagee and shall include a standard mortgagee
<br />clause in favor of and in form acceptable to Mortgagee. Mortgagee shall have the right to hold the policies and renewals thereof,
<br />and Mortgagor shall promptly furnish to Mortgagee all •renewal notices, the policies and any renewals thereof and all receipts of
<br />paid premiums. In the event of loss, Mortgagor shall give prompt notice to the insurance carrier and_Mortgagee, and Mortgagee
<br />may.make proof of loss if not made promptly by Mortgagor.
<br />In the event of a loss, the amounts collected shall be payable to the Mortgagee and at the option of the Mortgagee may be
<br />used in any one -or more of the following ways: (1) applied upon the Indebtedness secured hereby whether such Indebtedness'
<br />be matured or unmatured; (2) used to fulfill any of the covenants contained herein as the Mortgagee may determine; (3) used to
<br />replace or restore the Property to a condition satisfactory to Mortgagee; or (4) ' release the same to the Mortgagor. Such. applica-
<br />tion of proceeds to the lndebtedness•sF all not extend or` postpone the due date of the monthly installments referred to in Para-
<br />graph 1 hereof or change the amount of such installments. if under Paragraph 15 hereof, the Property is acquired by Mortgagee,
<br />all right, title, and interest of Mortgagor in and to any insurance policies and in and to.the proceeds thereof resulting from damage
<br />to the Property prior to the sale or acquisition shall pass to Mortgagee to the extent of the sum secured by this Mortgage immedi- .
<br />ately prior -to such sale or -acquisition.
<br />4. Preservation and Maintenance of Property. Mortgagor shall keep the Property in good repair and shall not permit or
<br />commit waste, impairment, or deterioration of the Property and shall comply with any restrictions affecting the Property.
<br />5. _ Protection of Mortgagee's Security. If Mortgagor fails to perform the covenants and agreements contained in this Mortgage, =
<br />or if any action or proceeding is commenced which materially affects Mortgagee's interest in the Property, including but not
<br />limited to, eminent domain, insolvency, code enforcement, or arrangements or proceedings involving a bankrupt or decedent,
<br />then Mortgagee at Mortgagee's option upon notice to Mortgagor, may make such appearances, disburse such sums and take such
<br />action as is necessary to protect Mortgagee's interest, .including, but not limited to, disbursement of reasonable attorney's fees
<br />and entry upon the Property to make repairs. Any amounts disbursed by Mortgagee pursuant to this Paragraph 5 with interest
<br />thereon shall become additional Indebtedness of Mortgagor secured by this Mortgage to the extent permitted by applicable law.
<br />Unless Mortgagor and Mortgagee agree to other terms of payment, such amounts shall be payable upon notice from Mortgagee to
<br />Mortgagor requesting payment thereof, and shall bear interest from the date of disbursement at the rate of 10% unless payment of
<br />interest at such rate would be contrary to applicable law, in which event, such amounts shall bear interest at the highest rate
<br />permissible by applicable law. Nothing contained in this Paragraph 5 shall require Mortgagee to incur any expense or do any act
<br />hereunder.
<br />6. Inspection. Mortgagee may make or cause to be made reasonable entries upon and inspections of the Property.
<br />7. Condemnation. Mortgagor agrees that all awards heretofore or hereafter made by a public or quasi -public authority to
<br />the present and all subsequent owners of the Property covered by this Mortgage by virtue of an exercise of the right of eminent
<br />domain by such authority, including any award for a taking of title, possession, or right of access to r a public way, or foany
<br />change or grade of streets affecting said Property, are hereby assigned to the Mortgagee; and the Mortgagee, at its option, is here-
<br />by authorized, directed and empowered to collect and.receive the proceeds of any such awards from the authorities making the
<br />same and to give proper receipts and acquittances therefor, and may, at the Mortgagee's election, use such proceeds in any one
<br />or more of the following ways: (1) apply the same or any part thereof upon the Indebtedness secured hereby, whether such
<br />Indebtedness then be matured or unmatured; (2) use the same or any part thereof to fulfill any of the covenants contained herein
<br />as the Mortgagee may determine; (3) use the same or any part thereof to replace or restore the Property to a condition satis-
<br />factory to the Mortgagee; or (4) release the same to the Mortgagor; and the Mortgagor hereby covenants and agrees to and with
<br />the Mortgagee, upon request by the Mortgagee, to make, execute and deliver any and all assignments and other instruments
<br />sufficient for the purpose of assigning all such awards to the Mortgagee free, clear and discharged of any and all encumbrances
<br />of any kind or nature whatsoever. The application of such proceeds to the Indebtedness shall not extend or postpone the due
<br />date of the monthly installments referred to in.Paragraph 1 hereof or change the amount of such installments.
<br />8. Mortgagor Not Released. Extension of the time for payment or modification or amortization of the sums secured by this
<br />Mortgage by Mortgagee to Mortgagor or to any successor in interest of Mortgagor shall not operate to release in any manner the
<br />liability of the original Mortgagor and Mortgagor's successors in interest nor shall such adversely affect the lien of this Mortgage.
<br />Mortgagee shall not be required to commence proceedings against such successor, to refuse to or to extend time for payment or
<br />otherwise to modify amortization of the sums secured by this Mortgage by reason of any demand made by the original Mortgagor or
<br />Mortgagor's successors in interest.
<br />9. Forbearance by Mortgagee Not a Waiver. Any forbearance by Mortgagee in exercising any right or remedy hereunder,
<br />or otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any right or remedy hereunder. The
<br />procurement of insurance or the payment of taxes or other liens or charges by Mortgagee shall not be a waiver of Mortgagee's
<br />right to accelerate the maturity of the Indebtedness secured by this Mortgage.
<br />10. Remedies Cumulative. All remedies provided in this Mortgage are distinct and cumulative to any other right or remedy
<br />under this Mortgage or afforded by law or equity, and may be exercised concurrently, independently or successively.
<br />11. Successors and Assigns Bound; Joint and Several Liability; Captions. The covenants and agreements herein contained
<br />shall bind, and the rights hereunder shall inure to the respective successors and assigns of Mortgagee and Mortgagor. All
<br />covenants and agreements of Mortgagor shall be joint and several. The captions and headings of the paragraphs of this Mortgage
<br />are for convenience only and are not to be used to interpret or define the provisions hereof. In the event the ownership of the
<br />Property.or any part thereof becomes vested in a person other than the Mortgagor, the Mortgagee may deal with such successor
<br />or successors in interest with reference to this Mortgage and the Indebtedness hereby secured in the same manner as with the
<br />Mortgagor without in any manner vitiating or discharging the Mortgagor's liability hereunder or upon the Indebtedness hereby
<br />secured; and in the alternative, at the option of the Mortgagee, the Mortgagee may declare that the unpaid balance of the Indebted-
<br />ness is immediatelydue and payable.
<br />12. Notice. Any notice from Mortgagee to Mortgagor provided for in this Mortgage shall be mailed by certified mail to Mortgagor
<br />at the Property Address stated below or at such address as Mortgagor may designate to Mortgagee by certified mail, to Mortgagee's
<br />address, except for any.notice given to Mortgagor.in the manner prescribed by applicable law as provided in Paragraph 15 of
<br />this Mortgage.
<br />13. Uniform Mortgage Governing Law; Severability. This form of Mortgage combines uniform covenants for national use
<br />and non-uniform covenants with limited variations by.turisdiction to constitute a uniform security instrument covering -real property.
<br />This Mortgage shall be governed by the law of the jurisdiction in which the Property is located. In the event that any provision
<br />or clause of this Mortgage or the Note conflicts with applicable law, such conflict shall not affect other provisions of this Mortgage
<br />or the Note which can be given effect without the conflicting provision, and to this end the provisions of this Mortgage and the
<br />Note are declared to be severable.
<br />14. Mortgago'r's Copy. Mortgagor shall be furnished a conformed copy of this Mortgage at the time of execution or after
<br />recordation hereof...
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