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84- ~~~ Gbligation and may otherwise deal with the new owner of the Proper*_y with reference to this Mortgage and the Obligation in the same manner as with the Mortgagor, without in any way releasing the Mortgagor from liability under this Mortgage or the Obligation. 16. Time is of the essence with respect to this Mortgage, and in the event of default by the Mortgagor in the timely perfor- mance of any covenant or agreement contained in this Mortgage, American may declare, without notice, all sums secured by this Mortgage immediately due and payable and may commence foreclosure proceedings, as provided by law. 17. All notices under this Mortgage co the respective par- ties shall be in writing and shall be served by prepaid mail, or by personal delivery, addressed to the respective parties at the addresses set forth on the first page of this Mortgage, or at such other addresses as may be supplied in writing to all parties. Any such notice to American or Mortgagor shall be deemed to be given and effective five days after such notice has been deposited in the United States mail postage prepaid addressed as aforesaid, or when personally delivered to and received by the specified parties. 18. In the event foreclosure is made by American, attorneys' fees in the amount determined by the court to be reason- able shall be taxed by the court as part of the costs in such fore- closure proceedings. 19. If the Obligation secured by this Mortgage is now or hereafter further secured by chattel mortgages, deeds of trust, pledges, contracts of guarantee, or other additional securities, American may, at its option, exhaust any one or more of said securi- ties as well as the security under this Mortgage, either concurrently or independently and in such order as American may determine and may apply the proceeds received from such securities upon the Obligation without waiving or affecting the status of any breach or default or any right or power whether contained in this Mortgage or whether con- tained in any other security agreement. 2G. Mortgagor shall reimburse American for the amount of any taxes paid as a result of any law enacted or amended in the State of ter the date of this Mortgage changing in any way the laws for the taxation of the Obligation, and if Mortgagor should fail to so reim- burse American within 90 days after written demand, American may declare the Obligation due and payable and may take steps to fore- close this Mortgage, or such sums, at American's option, may be deemed advances which shall become part of the Obligation, shall bear interest at the default rate set forth in the Note, and shall be secured by this Mortgage. 21. American may inspect the Property and the books and records maintained by the Mortgagor relating to the operation of the Property at any reasonable time upon reasonable notice to the Mortgagor. 22. Mortgagor fully and absolutely waives and releases all rights and claims Mortgagor may have in or to the Property as a home- stead exemption or other exemption under and by virtue of any act of the legislature of the State now existing or which may hereafter be passed in relation to such exemption. 23. Each right, power, and remedy conferred in this Mortgage upon American is cumulative of every other right or remedy of American whether conferred in this Mortgage or by law and may be enforced concurrently; no waiver by American of the performance of any covenant or agreement contained in this Mortgage shall thereafter in any manner affect the right of American to require oc enforce performance of such covenant or agreement or any other covenant or agreement contained in this Mortgage. _7_