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ti'�'•• l 90- 107086 received may be used to pay for reconstruction of the destroyed improvements or, if not applied for this purpose, may, at option of the Mortgagee, be applied in payment of all or part of the unpaid indebtedness secured by this Mortgage. if Mortgagor fails to carry the insurance required by this paragraph, Mortgagee may purchase untsnadvancednforlpayment rof by this Mortgage insurance premiums with interest at the highest legal rate. Mortgagor is to furnish Mortgagee a certificate from the insurance company insuring the improvements on the real estate for evidencing Mortgagor has acquired the insurance to be carried on the improvements on the real estate, the certificate to contain a clause the insurance policy cannot be cancelled without at least thirty (30) days' prior written notice to Mortgagee. if Mortgagor defaults in making payment of any monthly installment for a period of more than sixty (60) days, or fails to perform any of the other duties and obligations of Mortgagor under this Mortgage, Mortgagee, at Mortgagee's election, may declare the entire indebtedness secured by this Mortgage immediately due and payable, and foreclose this Mortgage for the satisfaction of the total amount due. If the Mortgagee brings an action to foreclose this Mortgage, the court may appoint a receiver to take possession of the real estate, as provided by law. ' - of Any failure or delay of Mortgagee to exercise Win: Mortgagee's rights or privileges under this Mortgage shall not be construed as a waiver of such right or privilege. Any act of Mortgagee waiving any specific default of Mortgagor shall not be construed as a waiver of any future defaults. Mortgagor may in good faith contest, by proper legal proceedings, the validity or amount of any tax or assessment which Mortgagor has agreed to pay under this Mortgage, provided Mortgagor deposits with Mortgagee as security for payment of such contested item an amount equal thereto, plus interest and penalties, and further provided that Mortgagor will pay such contested item and all costs and penalties, if any, at least thirty (30) days' before the date the mortgaged property may be sold by the taxing authorities because of nonpayment of such tax or assessments. Mortgagor covenants that Mortgagor will not, directly or indirectly, mortgage, pledge or encumber the real estate or assign or attempt to assign the rents and profits from the real estate other than the lien of this Mortgage. Mortgagor agrees Mortgagor will not in any other manner impair or threaten the value of the real estate or the security of Mortgagee. ♦ice.' ��itin'_ -^ -- - -�.