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~' ~ ---~ i1 t1 E~ ~. 51
<br />with, mnpanies acceptable to the Mortgagee, and with loss payable to
<br />the Mortgagee. In C~IHe of loss under such policies the Mortgagee is
<br />authorized to aci`jttet, collect and cr~nise, in its discretion, all
<br />claiaat tbex~nder at its sole option, authorized to either apply the
<br />pry to t&e restoration of t~ Property or upon the indebtedness
<br />secau^®d hereby, but-payments hereunder shall alntimie until the s~
<br />tub hem are pair3 in full.
<br />5. Tserflav for 'i~axe3s and Insurance. Z3otwithsttuYding anything
<br />c~taiaed im ~ 3 aad 4 hereof to the contrary, Fiortgagvr-shall
<br />ply tv the Mortgagee at the time of paying the monthly installments of
<br />principal aixi interest, one ta~lfth of the yearly taxes, assessments,
<br />hazard. i*y~+~+*+~n preatita~, and grc~nd rents (if any) which tray attain a
<br />priority aver this Mcartg~age, all as reasonably estimated fn7m time to
<br />time by the Mortgagee. The aanunts so paid shall be held by the Mortgagee
<br />without icrterest and applied to the pa}mfeict of the itecs in respect to
<br />which such aazatcnts were deposited. Mortgagor sha11 pay to Mortgagee the
<br />amafimt oP any deficiency between the actual taxes, assessaents, insurance
<br />prencitms and ground rents and the deposits hereunder within 10 days after
<br />denand is ra<rtie upon Mortgagor re4~st~K payment thereof.
<br />6. FSepair, Maintenance and fJse. To prcngatly repair, restate
<br />or rebuild any buildings or imprdv~nts nav or hereafter on the Property;
<br />to keep the Property i.n good condition and repair, without waste, and free
<br />-from tccechanic's ar other liens trot r.xpressly subordinated to the lien
<br />hereof; Est to make, suffer or permit any nuisance to exist, nor to
<br />diminish or impair the value cif the Property by ann act or emission to
<br />ate; and to r~iaply with ail retluire;nents of Iaw i~3th respect to the
<br />Property.
<br />r . ~_xande[ztrat itsn . In the event the Property , or any part thereof ,
<br />shall be taken by aninent daoain, the 'Adrtgagee is c~oetered to collect and
<br />receive a1I cac~ensation which may be paid Pot ~mr- property taken or for
<br />damages to property not taken, and tidrtgagee r~tall apply snctc compensation,
<br />,, at its option, either to a ration of the indebtedness secured hereby or
<br />to re~ir anti .restore tht p~,perty ~ ~.
<br />B. l~rformence ~ 'fie. '.4lnrtgaa~e tray, tit shall ha~~ t;.~
<br />obligation, to ~ am act which the sfartgagdrhasagrE~eci but fails to ~,
<br />and Mortgagee racy also cad any act it decree nec~assary to ptvtect the i ien
<br />herersf. Mortgagor agrees to rc~ay, upon dettrand, any sacs so expended he
<br />the A~drtgag+ee for the above purpo<sea;, and any sums ~ expended by the
<br />39ortgag+?e si~ail be added to the indebtedness seccu~ed hereby and beoaae
<br />subject to t3te lien icereof. Mortgagee shall not. incur any personal
<br />liability bPrs+ctx caf anything it ttmy do or cxnit to dca hereunder.
<br />9. default; ignment of It~tts. Ticae is of the ess~tca hereof,
<br />and upon i3ortgagvr's default in any covenant or agreement of this Mdrt-
<br />'e, iccclt~iniS cxaveicac»ts to pay when due the erns secured by this !lortgage.
<br />tt:e art ~,,~ I1 be entitled, at its ale option and without entice,
<br />to dns,:lare a13 seas seo<,,yred by this }frtgage to be irmtediately due asxi
<br />payable anti trey c~mnence foreclosure of this Aiortgage by judicial pro-
<br />cesciirq~; affil, pt~vided further, that upon srx:h default the 4iartgaKee,
<br />or a receiver appointed by a court, rosy at its opticm and without regard
<br />to the ad~eracy of the security, enter upcan attd take posse ion of tl~
<br />Ptvpexty atxi collect the rents, issues and profits therefx~m sari apply
<br />ttaet$ first tt> the ccxst of cxallection argi cataertttitm ref the Pmpec'ty Wuxi
<br />then upon. the indebtedness sec;cred t;r this Nortgsige; said rents, isa-uer~
<br />and profits being assigned to the Mortgagee as further purity for the
<br />pmt of the indebtedness seetxred hereby.
<br />lU. 't'ransfer of property. If all or any part of the Property
<br />is sold or tra~ferreai without the ~ written cxxrsertt of tics A$art-
<br />te, Mortgage t~.y at its scale option, declare all s~uas secured. by
<br />ti7is to be im'aediar~ly ciz?e a_~ pa;~lsle.
<br />b..~.. f
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