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~g..m i~ C, 4 2 6 8 3. Taxes, Assessments and Insurance. To pay when due all taxes, special assessments and all other charges against the Property and to keep the improvements now ar hereafter located on the real estate described herein insured against damage by fire and such other hazards as Mortgagee may require, in amounts and with companies acceptable to the Mortgagee, and with loss payable to the Mortgagee. In case of lass under such policies the Mortgagee is authorized to adjust, collect and compromise, in its discretion, a17 claims thereunder at its sole option, authorized to either apply the proceeds to the restoration of the Property or upon the indebtedness secured hereby but payments hereunder shall continue until the sums secured hereby are paid in full. It is further agreed that if the Mortgagor shall fail to pay such taxes or procure such insurance, the Mortgagee may pay such taxes and procure such insurance, and the sum so advanced, with interest at eleven per cent per annum shall be paid by Mortgagor to Mortgagee upon demand, and this Mortgage shall stand as security for the same. 4. Repair, Maintenance and Use. To promptly repair, restore or rebuild any buildings or improvements now or hereafter on the Property; to keep the Property ir. joo4 condition and repair, without waste, and free from mechanic's or other liens not expressly subordina*_ed to the lien hereof; net to make, suffer or permit 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. 5. Condemnation. In the event the Property, or any part thereof, shall be taken by eminent domain, the Mortgagee is empowered to collect and receive all compensation which may be paid far any property taken or for damages to property not taken, and Mortgagee shall apply srch compensation, at its option, either to a reduction of the indebtedness secured hereby or to repair and restore the property so damaged. 6_ Performance by Mortgagee. Mortgagee may, but shall have no obligation, to do any act which the Mortgagor has agreed but fails to do, and Mortgagee may also do any act it deems necessary to protect the lien hereof. Mortgagor agrees to repay, upon demand, any sums so expended by the Mcrtgagee for the above purposes, and any sums so expended by the Mortgagee shall become subject to the lien hereof. Mortgagee shall not incur any personal liability because of anything it may do or omit to do hereunder. 1. Default; Assignment of Rents. Time is of the essence hereof, and upon Mortgagor's default in any covenant or agreement of this Mart gage, including covenants to pay when due the sums secured by this Mortgage, the Mortgagee shall be entitled, at its 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 its option and without regasd to the adequacy of the security, enter upon and take possession of the Property and 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. -2-