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F- 7 <br />go- 105666 <br />option of the Mortgages, be applied in payment of all or part of <br />the unpaid indebtedness secured by this Mortgage. If Mortgagor <br />fails to carry the insurance required by this paragraph, <br />Mortgagee may purchase the insurance and is given a lien secured <br />by this Mortgage for the amounts advanced for payment of <br />insurance premiums with interest at the highest legal rate. <br />Mortgagor is to furnish Mortgagee a certificate from the <br />insurance company insuring the improvements on the real estate <br />for evidencing Mortgagor has acquired the insurance to be carried <br />on the Improvements on the real estate, the certificate to <br />contain P clause the insurance policy cannot be cancelled without <br />at least thirty (30) days' prior written notice to Mortgagee. <br />If Mortgagor defaults in making payment of any monthly <br />installment for a period of more than sixty (60) days, or fails <br />to perform any of the other duties and obligations of Mortgagor <br />under this Mortgage, Mortgagee, at Mortgagee's election, may <br />declare the entire indebtedness secured by this Mortgage <br />immediately due and payable, and foreclose this Mortgage for the <br />satisfaction of the total amount due. <br />If the Mortgagee brings an action to foreclose this <br />Mortgage, the court may ,appoint a receiver to take possession of <br />the real estate, as provided by law. <br />Any failure or delay of Mortgagee to exercise any of <br />Mortgagee's rights or privileges under this Mortgage shall not be <br />' construed as a waiver of such right or privilege. Any act of <br />Mortgagee waiving any specific default of Mortgagor shall not be <br />' <br />construed as a waiver of any future defaults. <br />r, -- <br />Mortgagor may in apood fa.th contest, by proper legal <br />proceedings, the the validity or amount of any tax or -assessment. <br />` - -- <br />which Mortgagor has agreew' to pay under this Mortgage, provided <br />Mortgagor deposits with Mortgagee as security for payment of such <br />contested item an amount equal thereto, plus interest and <br />- <br />penalties, and further provided that Mortgagor will pay such <br />contested item and all costs and penalties, if any, at least <br />- <br />' thirty (3C) days' before the date the mortgaged property may be <br />sold by the taxing authorities because of nonpayment of such tax <br />or assessments. <br />Mortgagor covenants that Mortgagor will not, directly or <br />indirectly, mortgage, pledge or encumber the real estat a or <br />assign or attempt to assign the rents and profs from the real <br />LAW, <br />estate other than the lien of this Mortgage. Mortgagor agrees <br />Mortgagor will not in any other manner impair or threaten the <br />�•; <br />value of ti %e real estate or the security of Mortgagee. <br />_ <br />�? <br />Mortgagor agrees not to cp:armit any wast,c in or about the <br />real estate and not to use the read fntate for ;-: y ournose <br />increasing the likelihooc of fire or other casualties. <br />3 <br />U <br />L <br />u� <br />l_ <br />xr <br />