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A 86, 106169 6. Performance by Mort a ee. Mortgagee may, but shall have no obligation to, do any act which the Mortgagor has agreed but failed to do, and Mortgagee may also do any act Mortgagee deems necessary to protect the lien hereof. Mortgagor agrees to repay, upon demand, any sums so expended by the Mortgagee for the above purposes, and any sums so expended by the Mortgagee shall be added to the indebtedness secured hereby and become subject to the lien hereof. Mortgagee shall not incur any personal lia- bility because of anything the Mortgagee may do or omit to do hereunder. 7. Default; Assignment of Rents. Time is of the essence hereof, anff upon Mortgagor's detault in any covenant or agreement of this Mortgage, including covenants to pay when due the sums secured by this Mortgage, the Mortgagee shall be entitled, at Mortgagee's sole option and without notice, to declare all sums secured by this Mortgage to be immediately due and payable and may commence foreclosure of this Mortgage by judicial proceedings; and, provided further, that upon such default the Mortgagee, or a receiver appointed by a Court, may, at his option and without regard to the adequacy of the security, enter upon and take possession of the property, collect the rents, issues and profits therefrom and apply them first to the cost of collection and operation of the property and then upon the indebtedness secured by this Mortgage; said rents, issues and profits being assigned to the Mortgagee as further security for the payment of the indebtedness secured hereby. 8. Transfer of _Pr_o_g_e_rty. If all or any part of the property is sold r trans e� rred by the Mortgagor, Mortgagee may, at his sole option, declare all sums secured by this Mortgage to be immediately due and payable. 9. Miscellaneous Provisions. A. Any forbearance in exercising any right or remedy shall not be a waiver thereof. B. All remedies provided herein are distinct and cumulative to any other right afforded by law or equity, and may be exercised, concurrently, independently or successively. C. The covenants and agreemer.ts contained herein shall bind, and the rights inure to the respective successors, heirs, and assigns of the Mortgagor and the Mortgagee. D. All covenants and agreements of the Mortgagor are joint and several. E. The headings of the paragraphs of this Mortgage are for convenience only and shall not be used to interpret or define the provisions hereof. 10. Release. Upon payment of all sums secured by this Mortgage, Mortgagee shall discharge this Mortgage and shall execute and deliver a satisfactory release therefor. IN WITNESS WHEREOF, the Mortgagor has caused the above and foregoing Mortgage to be executed by and through its President this day of October, 1986. O.V. DEVELOPMENT, INC. By R��#7 �4 &a--- its President �m 1