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86-.• 101708 16. Time Is of the essence with respect to this Mortgage, and in the event of default by the Mortgagor in the timely performance of any covenant or agreement contained in this Mortgage, Bank may declare, without notice, all sums secured by this Mortgage immediately due and payable and may commence foreclosure proceedings, as provided by law. 17. All notices under this Mortgage to the respective parties shall be in writing and shall be served by prepaid mail, or by personal delivery, addressed to the respective parties at the addresses set forth on the first page of this Mortgage, or at such other addresses as may be supplied in writing to all par- ties. any such notice to Bank or Mortgagor ahall be deemed to be given and effective five days after such notice has been depo- sited in the United States mail postage prepaid addressed as aforesaid, or when personally delivered to and received by the specified parties. 18. In the event foreclosure is made by Bank, attor- neys' fees in the amount determined by the court to be reasonable shall be taxed by the court as parts of the costs in such foreclosure proceedings. 19. If the Obligation secured by this Mortgage is now or hereafter further secured by chattel mortgages, security agreements, deeds of trust, pledges, contracts of guarantee, or other additional securities, Bank may, at its option, exhaust any one or more of said securities as well as the security under this Mortgage, either concurrently or independently and in such order as Bank may determine and may apply the proceeds received from such securities upon the Obligation without waiving or affecting the status of any breach or default or any right or power whether containing in this Mortgage or whether contained in any other security agreement. 20. Mortgagor shall reimburse Bank for the amount of any taxes paid as a result of any law enacted or amended in the State after the date of this Mortgage changing in any way the laws for the taxation of the Obligation, and if Mortgagor should fail to so reimburse Bank within 90 days after written demand, Bank may declare this Mortgage, or such sums, at Bank's option, may be deemed advances which shall become part of the Obligation, shall bear interest at the default rate set forth in the Note, and shall be secured by this Mortgage. 21. Bank may inspect the Property and the books and records maintained by the Mortgagor relating to the operation of the Property at any reasonable time upon reasonable notice to the Mortgagor. 22. Mortgagor fully and absolutely waives and releases all rights and claims Mortgagor may have in or to the Property as a homestead exemption or other exemption under and by virtue of any act of the legislature of the State now existing or which may hereafter be passed in relation to such exemption. 23. Each right, power, and remedy conferred in this Mortgage upon Bank is cumulative of every other right or remedy of Bank whether conferred in this Mortgage or by law and may be enforced concurrently; no waiver by Bank of the performance of any covenant or agreement contained in this Mortgage shall thereafter in any manner affect the right of Bank to require or enforce performance of such covenant or agreement or any other covenant or agreement contained in this Mortgage. 24. Each covenant, agreement, and provision contained in this Mortgage shall apply to, inure to the benefit of, and be binding upon the Mortgagor, Bank, their respective heirs, per- sonal representatives, successors, and assigns. If Mortgagor is more than one person or entity, the Obligation shall be the joint