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<br />subsequent owner to permit the Mortgagee or its representative to inspect the
<br />premises or the said books and records on request, Mortgagee may consider
<br />such acts of the Mortgagor as a default hereunder and proceed in accordance
<br />with the rights and remedies afforded it at law and under the provisions of
<br />this Mortgage.
<br />12. If default be made (a) in the payment of any installment of
<br />principal and interest or any other sum payable pursuant to the terms of the
<br />Note secured hereby or pursuant to the within Mortgage, when due, and such
<br />default continues for a period of ten (10) days after Mortgagee shall have
<br />given written notice of such default to Mortgagor or (b) in the performance
<br />of any of the other terms of said Promissory Nate, this Mortgage, the
<br />Asaignmaat of Reats or aay other fnstrumeat Hoot cr hereafter
<br />securing the indebtedness secured by this Mortgage, and such default
<br />continues for thirty (30) days after the Mortgagee shall have given written
<br />notice thereof to the IVlortgagor (other than a default described in (a) of this
<br />paragraph), all as more particularly set forth in the Promissory Note secured
<br />hereby, the emirs principal balance secured hereby and accrued interest
<br />shall became due and payable without notice of the exercise of such option
<br />and without demand or presentment, and this Mortgage may thereupon be
<br />foreclosed for the whole amount of said money, interest and costs, and for all
<br />sums paid out under any of the provisions hereof, with interest thereon at
<br />the penalty rate set forth in said Promissory Note, which election may be
<br />exercised immediately or at any time thereafter and this Mortgage reinstated
<br />either at, before or after foreclosure proceedings have been commenced.
<br />Such option may be exercised or re-exercised without in any way impairing
<br />the rights of the Mortgagee for the full exercise of such elections and
<br />options, and nothing shall be construed to be a waiver of such right, except
<br />an express agreement to that effect in writing, duty executed by the holder
<br />of this Mortgage:
<br />orrower or
<br />13. That upon default by rtgagor in the performance of any of
<br />the terms, covenants or conditions herein or in said Note contained, Mortgagee
<br />may, at its option and whether electing to declare the whole indebtedness due
<br />and payable or not, perform the same without waiver of any other remedy, and
<br />any amount paid or advanced by Mortgagee in canneciian therewith, or any
<br />other costs, charges or expenses incurred in the protection of said premises
<br />and- the maintenance of this lien with interest thereon at the penalty rate set
<br />forth in the Promissory Note secured hereby shall be repayable by the Mortgagor
<br />without demand, shah! be a lien upon the mortgaged premises prior to any
<br />right or title to, interest in or claim thereon or accruing subsequent to the
<br />lien of this Mortgage and shall be deemed to be included in and secured by
<br />this Mortgage.
<br />14. That Mortgagee, in making any payment herein in the place and
<br />stead of Mortgagor relating to taxes, assessments, sewer rentals and other
<br />governmental or municipal charges, fines, impositions or liens asserted against
<br />the prdnises may do so according to any bill, statement or estimate procured
<br />from the appropriate public office without inquiry into the accuracy of the bill,
<br />statement or estimate or into the validity of any tax, assessment, sale, forfeiture,
<br />tax lien or title or claim thereof, or relating to any apparent or threatened
<br />adverse title, lien, statement of lien, encumbrance, claim or charge shall be the
<br />sale fudge of the legality or validity of same; or otherwise relating to any other
<br />purpose herein and "Hereby authorized, but not enumerated in this paragraph,
<br />may da so whenever, in its judgment and discretion, such .advance or advances
<br />shall seem necessary or desirable to protect the full security intended to be
<br />created by this instrument; and, provided further, that in connection with any
<br />such advance, Mortgagee, at its option, may, and is hereby authorized to,
<br />obtain a continuation report of title prepared by a title insurance company, the
<br />costs and expenses of which shall be repayable by the Mortgagor without
<br />demand and shall be secured hereby.
<br />1S. In the event of any foreclosure sale hereunder, Mortgagee, ar
<br />its successors or assigns, may become Che purchaser of the mortgaged premises,
<br />or any part thereof . '
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