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<br />84..- 003862
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<br />Idsspaya.ble clause, approved by and in favor of Mortgagee,
<br />and dep6sited with the Mortgagee and with any loss thereunder
<br />toPe payable to Mortgagee. ..At the option of the Mortgagee,
<br />sums so receiv<:ld by Mortgage<:lor Mortgaqor may be used to
<br />pay fo.r reconstruction of . the destroyed Premises ; or, if not
<br />so applied, may, at the option of the Mortgagee; be applied
<br />in payment of any Obligations, matured or unmatured, secured
<br />by this Mortgage.
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<br />3. To keep all buildings occupied and in good repair
<br />and to refrain from the cOlMllission of any acts of removal,
<br />demolitj,on, or impairment of the Premises; and not to commit
<br />or permit any waste or impairment of the value of the Premises.
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<br />4. All money and awards payable as damages or compensation
<br />for the taking of title to or possession of, or for damage
<br />to any portion of the Premises by reason of any condemnation,
<br />eminent domain, change of grade, or other proceeding shall,
<br />at the option of the Mortgagee, be paid to the Mortgagee,
<br />and such moneys and awards are hereby assigned to Mortgagee,
<br />and judgment therefor shall be entered in favor of Mortgagee,
<br />and when paid shall be used, at its c ion, toward the
<br />payment of the Obligations ,...'cured hereby in such order or
<br />manner as Mortgagee may desl~e or determine, or shall be
<br />used at its option, for pal~ent of taxes, assessments,
<br />repairs or o~~er items for the paj~ent of which this Mortgage
<br />is given as security, whether the same be then due or not,
<br />and in such order or manner as Mortgagee may determine, and
<br />any ~~unt net so used shall L~ released by the Mortgagee to
<br />the Mortgagor. Such application or release shall not cure
<br />or waive any default or foreclosure proceedings. In the
<br />event Mortgagee deems it necessary to appear or answer in
<br />COndefftfiation action; hearin.g or proceeding * Mortgagor shall
<br />pay all legal expenses in connection therewith, includin.,
<br />but not limited to attorneys' fees and court costs, and
<br />until so paid, such expenses, with interest at the rate of
<br />eighteen percent (lS%), shall be added to the Obligations
<br />secured hereby in such manner or order as Mor.tgaqee may
<br />desire or determine, having the benefit of the lien created
<br />hereby as a part hereof and of its priority.
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<br />5. In the event Mortgagor fails to pay when dUe any
<br />taj{es, rental charges upon any leases assigned as additional
<br />security for this Mortgage, liens, judgments, or assessments
<br />lawfully assessed against the Premises, or fails to maintain
<br />insurance as hereinbefore provided, Mortgagee may make such
<br />payment or provide such insurance, and the amount(s) paid
<br />therefor shall become a part of the Obligations secured
<br />hereby, due and payable immediately, and shall bear interest
<br />at the rate of eighteen percent (18%) per annum frOID.and at
<br />the time ~iortgagee makes such payment.
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<br />6. In the event Mortgagor detault$ in the payment of
<br />any of the Obligations or of any interest thereon, at the
<br />time when the same. shall be due, or with respect to any
<br />covenant or condition hereof, then, at the option of Mortgagee,
<br />the entire Obligations secured hereby shall forthwith become
<br />due and payable, and the Mortgagee may immediately. fore.closEl
<br />this Mortgage or pursue any other available lega.1 relnedY,
<br />In the event of any action. by Mortgagee to enfor96 collection
<br />of any of the Obligationasecured hereby ,the Mortga.gor
<br />agrees that any expense including without limitation a~tcr~y='
<br />fees and costs i~urred in connection therewith or inc~~q
<br />to procure or extend an abstract of title sball,Whenin~x;red
<br />or.pa;i.d ~ Mortgagee, beCOl\le a part of t1;.e Obligaticms
<br />sec\P;"ed hereby and shall be paid by Mortgago.r together 'OI.i.t.h
<br />all the taxable costs of aucha.cUon.
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