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~ 200902841 policies, the MORTGAGEE is authorized to adjust, collect and compromise, in the discretion of the MORTGAGEE, all claims thereunder at MORTGAGEE'S sole option and to apply the proceeds upon the indebtedness secured hereby with payments hereunder continuing until the sums secured hereby are paid in full. 5. REPAIRS. To promptly repair, restore or rebuild any buildings or improvements now or hereafter on the property; to keep the property in good condition and repair, without waste, and free from mechanic's or other liens not expressly subordinated to the lien hereof; not to make, suffer or commit any nuisance to exist nor to diminish or impair the value of the property by any act or omission to act; and to comply with all requirements of law with respect to the property. 6. PERFORMANCE BY MORTGAGEE. 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 liability because of anything the MORTGAGOR may do or omit to do hereunder. 7. DEFAULT; ASSIGNMENT OF RENTS. Time is of the essence hereof, and upon MORTGAGOR'S default 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 PROPERTY. is sold or transferred by the sole option, declare all sums immediately due and payable. If all or any part of the property MORTGAGOR, MORTGAGEE may, at his secured by this Mortgage to be 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 equi ty, and may be exercised, concurrently, independently or successively. C. The covenants bind, and the successors, heirs MORTGAqEE. and agreements contained herein shall rights inure to the respective and assigns of the MORTGAGOR and the 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 -2-