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L <br />b. Time is the essence hereon, and upon Mortgagcx-'s <br />default to any covenant or agreement of this Mortgage, <br />including covenants to pay when due the sues secured by this <br />Mortgage, the Mortgagee shall be entitled, at its sole option <br />and "ithout notice, to declare all sums secured by this <br />Mortgage to be immediately due and payable and may commence <br />foreclosure of this Mortgage by judicial proceedings; and, <br />provided further, that upon such default the Mortgagee, or a <br />receiver appointed by a court, may at its option and stithout <br />regard to the adequacy of the se-curity, enter upon and take <br />possession of the Property and collect the rents, issues and <br />profits therefrom and apply thew first to the cost of <br />collection and operation of the Property and then upon the <br />indebtedness secured by this Mortgage; said rents, issues and <br />profits being assigned to the Mortgagee as further security <br />for the payment of the indebtedness secured hereby. <br />7. If all or any part of the property is sold or <br />transferred without the express written consent of the <br />Mortgagee. Mortgagee may at its sole option, declare all sums <br />secured by this Mortgage to be immediately due and payable. <br />S. Any forebearance in exercising any right or remedy <br />shall not be a waiver thereof. <br />9. All remedies provided herein are distinct and <br />cumulative to any other right afforded by law or equity, and <br />may be exercised concurrent) -i, independently or successively. <br />10. The covenants and agreements contained herein shall <br />bind, and all rights inure to, the respective successors and <br />assigns of the Mortgagor and the Mortgagee. <br />11. All covenants and agreements of the Mortgagor and <br />the Mortgagee are joint and several. <br />12. Upon payment o4 all sums secured by this Mortgage, <br />Mortgagee shall discharge this Mortgage .arid shall execute and <br />deliver a satisfactory release therefor. <br />IN WITNESS WHEREOF, Mortgagor ha <,, executed this Mortgage <br />on the - -- — --- = = " - -- — .. • 19 � <br />1, <br />IEiIINYSst1e M Yrait <br />i°�' s'ff� - %' � ''' <br />�,a . •..z � r -�_ <br />IIOINWrC UIRSOM <br />v..: a <br />■j Aewa 6� Nnei t � <br />aQ <br />z <br />,j <br />1, <br />