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gagee. \lortgagor ~eill cause each insurance golic} issued in connection
with this paragraph =~.5 to pro~zdc ( and thc insurer issuing such policy to
certify to ?1lortgagee) that ( i) loss paym~nts ~vill be payaUle to Mortgagee
alonc, su:h payiTi;;nts to lx~ spplied, at die option of \Iortgagee, to the
restoration. repair or replacement of the ~tor:gaoed Propert~~, or to the
pa}~ment of the In:leUtedness. ~vhether or noi due; ( ii ) die iuterest of
illortgagee shall t~ insured r~ gardiess of any breach or ~•iolation by Ntort-
t;agor of any ~~•~irrznties, decl:~rations or condit;ons in sueh policy; (iii) if
~ an~• s.~~l1 iI]Sil!'~illi;i' policti~ b<: subjc.t to ~•anc~~lstion or be endorsed or
so;~t;ht to bc~ endorse~ to effect : hang~~ in :•o~~crag~ for any reason ~~~hat-
s~;;vcr, su, i~ irs~irer ~~~i11 promptly notil~~• .~Iortgagec <~.~d such cancellation
or cl~~;n`~e shail not be effectir-e as to 11lortgabee f'or ihirty (30) da~s after
mceipt by ~tortg~~gee oi' such notic~: ; rtd ( itij) Alortgagec may, but shall
not bc obligated to, makc premiwn pa}-ments to pret~ent lapse or cancel-
lation bz reason of non-pay~j~cnt oF premi~~m, and tilat such payments
shall be accepted by the insurer. \iortgagor shail furnish to A~iortgagee
t~ie original eopy of eacli sucli policy at the tiine of execution hereof, and
the original copy of eacli rene~val policy not less than thirty ( 30 ) days
grior to the expiration of tl~e original policy ur the preceding reneival
policy ( as the case may be togethzr ~vith receipts or other e<<idence that
the premiums ihereon have be~n paid. A~Iortgagor shall furnish to :~iort-
ga~ce on or l~f~orc I2Q d,~:s aftcr the :lose of each fis_~1 }^ar of ~Iortgagor
a st~:te:2i_nt c~~rtc:i~d b~~ a clul~• authorized officer of \I~rtgagor of t~~e
amounts of insurance maintained in compliance with this subparagraph,
of the risks covered b} such insurance and of the insurance company or
companies ~chi~h carr~~ such insuranr_•e. In the e~-ent of enforcement of tl~is
14lortgage by ~tortg:igee or transfer of title to the \iortgaged Property in
extinguishment of the Indebtedness, all right, title and interest of ~~Iort-
gagor in and to any insuranre policies then in force ~cith respect to the :
:~Iartgaged Prop~rt~ shall pass to the purchaser or grantee. ~Iortgagor shail -
not take ot~t se;~:3r~itc ins~rance crn~cvrrer:t in form or contr~buting in the '
r~~eilt of los, ~c:tl~ th.tt tv be requircd under this se:~tion -~.5. ur.less ~iort- ~
«agee is inclu:-ied thc:eon ~is a named insured ti~~ith loss pa~ablc to 1lort-
gagee. The Zio: tga~or shal~ immediatel.~ notify the 1blort~ :g~e ~~•henc+•cr
an} such sep;irate insurance is taken out and shall prom»th• de'i~~er to
1Tvr~~;a±;~e thc• ~.:~ii: or poii~ i:~s of su:I: in.urar;c-e to~ethet- «-ith thc
- ccrtificatc of the insurer as pr~~~~~dcd in t.~is p.~;-a~~raph -~.5_
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