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?~-.~~63~L~: foreclosure of this mortgage ar other transfer of the title to the property in satisfaction of the indebtedness hereby secured, ail right, title arc interest of the Mortgagor in and to such insurance policy shall pass to the grantee of the property. The Mortgagee-may, at its election, require the Mortgagor to pay to the Mortgagee a monthly amount, to be placed in escrow, sufficient to pay future taxes, assessments, insurance p_=emiums and other charges, when due. Upon any default by the Mortgagor in the payment of taxes, assessments, insurance premiums or other charges, the Mortgagee may, at its election, make payment thereof and add the amount of such payment to the principal balance of either note. The mortgagor shall not commit or permit waste and shall maintain the improvements on the property in good condition and repair. The Mortgagee may inspect the property and the improvements t~r~n at ail reasQna_hle times, and upon default b_y the Mortgagor in the maintenance thereof, the Mortgagee may perform such maintenance and add the expense thereof to the principal balance of either note. Za the event of loss or damage to improvements or fixtures on the property, the Mortgagor may elect to repair or replace such improvements ar fixtures. if the Mortgagor shall elect net to perform such repair or replacement, the principal balance of either note and accrued interest shall become due and payable at once, at the election of the Mortgagee. Any insurance proceeds payable by reason of sash loss or damage shall be placed in escrow with the Mortgagee and disbursed during or upon completion of such repair or replacement or applied on the last maturing payments dire an either note, in accordance with the election of the Mortgagor. Zf all or any portion of said real estate is condemned or acquired far public use, the resulting award, proceeds oz consideration shall be assigned and paid to the Mortgagee aad applied cn the last maturing payments due on the note. in the event of an}• aefault and the c-ummencement of proceedings to foreclose this mortgage, the Mortgagee shall at once be entitled to possession of the property, the use and enjoyment thereof and the rents and profits therefrom Suring the pendency of such proceedings. Possession of the property shall be delivered to the Mortgagee, and if delivery of possession is refused by the Piortgagor, the Mortgagee shalt be entitled to the appointment of a receiver for the property by any court of competent jurisdi=tian, as a mattex of right, without regard to the solvency or insolvency of the Hc~ztgagar or the value of the property, to collect the rents and profits from the property and apply such rents and profits according to the orders of the court. when the terms sad conditions of this Mortgage have been fully perfarsued, this Mortgage shall be void and shall be released at the expanse of the Mortgagor. The terms and conditions of this Mortgage shall }~ biadiag upon the successors and assigns of the Mortgagor sad t2se Mortgagee. Dated october ~~ , 1979. -2-