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<br />84 - 005382
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<br />cash value of such improvements, exclusive of foundations,b.tit>i~
<br />no event for an amount less, than the amount 6ft:,eunpaM
<br />principal balance of the Note. Such insurance, policiesshatl
<br />contain as standard mortgage clause in favor of,theMbrt;g;;r~lli;g~4'~ ,
<br />shall not be cancellable, terminable, or mOdiflable""i5 ,"
<br />(10) days' written notice to the Mortgagee. ,Intl,le<.e'
<br />fire loss, Mortgagor shall promptly repair ,maintain~?Il
<br />the improvements or any part hereof so that, except' for'
<br />wear and tear, the property shall not deteriorate.
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<br />4. DEFAULT. If there be any failure to, def~tilJ;J.
<br />performance of any of the terms and conditionsofthi,!;'~ri
<br />or any other agreement securing the Note, or if ,th~Nbt~~p'
<br />installment or other charge thereof is not paid wheridtie'~:p:V
<br />the Mortgagor shall become insolvent or be thesubje,ct.":o;:r':~ti!\~:' ',"
<br />bankruptcy or insolvency, or if the mortgaged proPert:')7,slf
<br />come into the possession or control of any Courtpr:tor,'l=:Q?, ,,'
<br />full payment of the debt secured hereby, then aU of ther~llllil-i~F>'
<br />ing debts secured hereby, accrued interest, and all otherc,ha#Jg~,
<br />shall become due and payable without further notice at ,t~~\i'
<br />election of the Mortgagee and this Mortgage maythereuporrbe'
<br />foreclosed immediately.
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<br />.J . CONDITION OF MORTGACP. PROPERTY ~ Mort~aan_r -_wil1-,----ke~t)"~-~
<br />the mortgaged propert:y and aLL bU1,ldings and o'th~r~ improV'c"",nt:G'
<br />thereon in good condition and repair; will comply with all laws, "
<br />ordinances, and regulations of all public authorities relating to
<br />the mortgaged property or the use thereof; will not suffer ,any
<br />waste to be committed thereon; and will not remove, demolish, Ot:'
<br />al ter any buildings, improvements, or fixtures thereon without
<br />the prior written consent of the Mortgagee.
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<br />6. RIGHT TO CURE. Mortgagee shall have the power, but
<br />shall not be obllgated, to cure any of the Mortgagor's defaults
<br />herein and any amount paid hereunder by the Mortgagee shall be
<br />considered additional debt owed by the Mortgagor and secured by
<br />this Mortgage and shall be payable on demand, with interest at
<br />the rate provided by the Note; Mortgagee is hereby expressly
<br />subrogated to all the rights of the person or entity receiving
<br />such property.
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<br />7. RECEIVERSHIP. Mortgagee, in any action to foreclose
<br />this Mortgage, shall be entitled, without notice to anyone and
<br />without regard to the adequacy of the security for the debt
<br />secured by thi s Mortgage or to the solvency or insolvency of
<br />anyone responsible for the payment of such debt, to the appoint-
<br />ment of a receiver of the mortgaged property, notwithstanding
<br />that the mortgaged property or any part thereof may then be
<br />occupied by the Mortgagor or any successor in ownership.
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