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such lien by, or defend enforcement of such lien .in legal proceedings wnrcn operate to prevent the emorcenwnt pg. ttIe IIUII U1.
<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 the term "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 _cove rage exceed that amount of coverage required ^to -pay ^the sums secured by this Mortgage:. _
<br />The insurance carrier_ providing the insurance shall be chosen by h"lortgagor'subject to',approval by Mortgagee;! provided,
<br />that such approval shall`not be' unreasonably withhel�J. All premiums on insurance policies shall be paid by Mortgagor making
<br />payment, when due, directly to the insurance carrier.
<br />All insurance'policies; andrenewals'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 Mortgagqr 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 atithe 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.; 'S,uch;applica-
<br />tion of proceeds to thelndebtedness shall not extend'or postpone the due date of the monthly installments referred toin 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 inland to any insurance policies and in and ao the proceeds thereof resulting from damage
<br />to the Property prior to the sale or' acquisition shell `pass to Mortgagee to the extent of the sum secured by this Mortgage`immedi-
<br />ately prior to such sale or acquisition.
<br />A. 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 />:'S. e's Security. If Mortgagor fails
<br />Protection of hiortgageto 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 toIthis Paragraph 5 at=
<br />interest.
<br />thereon shall become additional Indebtedness of Mortgagor secured -by this Mortgage do the extent permitted by applicable law...
<br />Unless Mortgagor and Mortgagee agree to other terms of payment, such amounts shall be payablejupon notice from Mortgagee to
<br />Mortgagor requesting payment thereof, and shall bear interest from the dale of disbursement`at the=rate of 100- 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. hlortgageefmay 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'anexercise of the right of eminent
<br />domain by such authority, including any award for a taking of title, possession, or right of access to a public way, or, for any
<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 ti5erefor, and may, at the.MortgageeIs 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 theMortgagee, 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 amourlt'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 tour; 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 notbe 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 hlortgage or'afforded bylaw 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 hereincontained
<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. 1rr 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 immediately due and payable.
<br />12. Notice. - Any notice from Mortgagee to Mortgagor provided for in this Mortgagetshall be mailed by certified mail to Mortgagor
<br />anile Property Address stated below or at such'address as Mortgagor may designate toWortgagee 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 jurisdiction 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 isolocated. In the event that'any provision
<br />or clause of this Mortgage or the Note conflicts with applicable law; such conflict shall not affectother 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. Mortgagor'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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