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<br />4. Insurance. To keep the improvements now orhereatt~r
<br />located on the real estate described herein, insured againstdcima<;fe.i'
<br />by fire and other hazards in a minimum amounttoinsurefull,pa~~!1:t,
<br />of the principal and interest of the first mortg<Olge,tpgethe:r~ttj;,l'1'"
<br />the principal and interest of this Mortgage, with a losspay,?-bl,i>
<br />clause to the Mortgagees herein. In case of loss under stich" '
<br />cies, the Mortgagor is authorized to adjust, collectandcompr ~ei
<br />in the discretion of the v.1ortgagor, all claims thereunCie'r::,~-a't:,_,_,:- '_' _--~,:_,_-(;.-~-_-.-~
<br />Mortgagor's sole option and to apply the proceeds upon the i:ry:l.el:lti""
<br />edness secured hereby with payments hereunder continuing until the
<br />sums secured hereby are paid in full.
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<br />5. Repair, Haintenance and Use. To promptly repair,re~tO're'
<br />or rebuild any buildings or improvements now existing on the<pro"-
<br />perty; to keep the propert.y in good condition and repair.,withO,ut
<br />waste, and free from mechanic' s or other liens not expressly,,'su.b"-
<br />ordinated to the lien hereof; not to make, suffer or com:rnitany
<br />nuisance to exist nor to diminish or impair the value of the
<br />property by any act or omission to act; and to comply with all
<br />requirements of law with respect to the property.
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<br />6. Performance bv Hortqagee. t.10rt l.gee may, but shall have
<br />no obligation, to do any act which th ~o ,ctgagor has agreed but
<br />failed to do, and Mortgagee may als0 ,.u any act Mortgagee deemS
<br />necessary to protect the lien hereof. Hortgagor agrees to repay,
<br />upon demand, any sums so expended by the Mortgagee for the above
<br />purposes, and any sums so expended by the Mortgagee shall be added
<br />to the indebtedness secured hereby and become subject to the lien
<br />hereof. Mortgagee shall not incur any personal liability because
<br />of anything the Mortgagee may do or omit to do hereunder.
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<br />i_ Default; Assigwuent of Rents. Time is of the essence
<br />hereof, and upon Mortgagor's default in any covenant or agreement
<br />of this Mortgage, including covenant to pay when due the sums
<br />secured by this Mortgage for a period of sixty (60) days, the
<br />Mortgagee shall be entitled at Mortgagee's sole option and without
<br />further notlce~ to declare all sums secured by this Mortgage to
<br />be immediately due and payable and may commence foreclosure of
<br />this HortqatJt~ by Judicial proceedinqsi dnd, provided further,
<br />that upon such default the Mortgagee, or a receiver appointed by
<br />a Court, ma)' ~t their option and without regard to the adequacy
<br />of the securIty, enter upon and take possession of the property,
<br />co 1 lee-t.. the !~ents, issues and profits therefrom and apply them
<br />first" ~o the cost of collection and operation of the property and
<br />then upon the indebtedness secured by this Mortgage; said rents,
<br />issues ,-~nd t"~rof.i ts bClnq assiqned t.Q the Mortgagee as further
<br />secu:r i ty for the p.J.ymt.nt 0 t the .indebtedness secured hereby.
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<br />8. "::.~_,'.l,.~",~~l::._l~~,__l2'_t.'Ps:.'E_!..'.::.' IE all or any part of the property
<br />1S SOlG or transferred by the Hortgaqol', Hortqaqee may. at their
<br />sole option, declare ~lll ~urns securt2u by this tviortyaye to be inune-
<br />diately due and payable.
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