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<br />88- 105058 <br /> <br />ordinary wear and tear, the property shall not deteriorate. <br />shall the Mortgagors co..it waste on or to the property. ' <br /> <br />In no event <br /> <br />4. <br /> <br />OPTIONAL ADVANCES. <br /> <br />If the insurance required above is not <br /> <br />prollptly effected, or if the taxes or special assessllents levied and assessed <br /> <br /> <br />against the property shall becolle delinquent, Mortgagee lwhether. electing to <br /> <br /> <br />declare the whole mortgage due and collectible or notl lIay, but need not, <br /> <br /> <br />effect such insurance, effect such repairs, pay such taEes and special <br /> <br /> <br />assess~nts, and all such payments with interest thereon at the highest legal <br /> <br /> <br />rate applicable to a natural person, or if the Mortgagor is a corporation, or <br /> <br /> <br />partnership or other entity at the default rate provided in the Promissory <br /> <br /> <br />Note, from ti~ of payment shall be a lien against the property. <br /> <br /> <br />5. MISCELLANEOUS. If all or any part of the property or an interest <br /> <br /> <br />therein is sold or transferred by Mortgagors without Mortgagee's prior written <br /> <br /> <br />consent, eEcluding: <br /> <br /> <br />lal A transfer by devisees, descent, or by operation <br /> <br /> <br />of law upon the death of a joint tenant, or <br /> <br /> <br />lbl The grant of any leasehold interest of two years <br /> <br /> <br />or less not containing an option to purchase. <br /> <br /> <br />Mortgagee may, at Mortgagee I s option, declare all SUIIS secured by <br /> <br />this Mortgage to be immediately due and payable. <br /> <br />Mortgagee shall have waived <br /> <br />such option to accelerate if prior to the sale of transfer, the Mortgagee and <br /> <br /> <br />the person to whom the property is to be sold or transferred, reach an <br /> <br /> <br />agree.ent in writing that the credi\ of such person is satisfactory to the <br /> <br /> <br />Mortgagee and that the interest payable on the sum secured by this Mortgage <br /> <br /> <br />shall be at such rate as Mortgagee shall request. <br /> <br />3 <br />