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<br />1 , \ ~ ~ \ ~ i
<br />6. Mortgagee may, but shall, h&ve' no' obUgation, to do any act
<br />which the Mortgagor has agreed but faila to do, and Mortgagee may also
<br />do an:!" act it deema necessary to protect the Uen hereof, Mortgagor
<br />agrees to repay, upon demand, any sums so expended by the Mortgagee for
<br />the above purposes, ,and, any sumll so, expended by, the Mortgagee shall' be
<br />added to ths..indebtednellll secured hereby. and ,become sobjectita, the'Uell","'!.'"
<br />hereof. Mortgagee shall not inl:ur, any ,personakliabllity.-biecIlulIe of "":/"',:1
<br />anything it may do or omit to do hereunder.
<br />
<br />&. Time, is the essence hereof, and upon Mortgagor's 'default in ' '., ,'....' I,'l
<br />any convenant or agreement of this Mortgage, includingcovenants',ta pay
<br />when due the sums secured by this Mortgage, the Mortgageeshall',be
<br />entitled, at its sole option and without notice, to declare all sums---
<br />secured by this Mortgage to be immedistely duc and payable and may
<br />commence foreclosure of this Mortgage by judicial proceedings; and.
<br />provided further, that upon auch default the Mortgagee, or a receiver
<br />appointed by a court, may at its option and without regard \:0 the
<br />adequacy of the lII'Curity, enter upon and take ,possession of the .
<br />Property and collect the rents, issues and profita therefrom and apply
<br />them first to the cost of collection and operation of the' Property and
<br />then upon the indebtedness aecured by this Mortgage: said rents, issuea
<br />and profits being assigned to the Mortgagee as further aecurity'tor the
<br />payment of the indebtedness secured hereby.
<br />
<br />7. If all or any part of the property is sold or transferred
<br />without the, expresa written conaent of the Mortgagee, Mortgagee may at
<br />its sole option, declare all suma secured by this Mortgage to be
<br />immediately due and payable.
<br />
<br />8, Any forbearance in exercising any right or remedy ahall not be
<br />a waiver thereof,
<br />
<br />9. All remedies provided herein are distinct and cumulative to
<br />any other right afforded by law or equity, and may be exercised
<br />concurrently, independently or successively,
<br />
<br />10. The convenants and agreements contained herein shall bind, and
<br />all rights inure to, the respective successors and assigns of the
<br />Mortgagor and the Mortgsgee.
<br />
<br />11. All convenants and agreements of the Mortgagor and the
<br />Mortgagee are joint and several.
<br />
<br />12. Upon payment of all sums secured by this Mortgage, Mortgagee
<br />shall discharge this Mortgage and shall execute and deliver a
<br />satisfactory release therefor.
<br />
<br />IH WlTNBSS WBBRBOF, Mortgagor has executed this Mortgage on the 87'"$.
<br />day of <<'f'+...,...J,,,,. 1988.
<br />
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