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Home My WebLink About2427 £or the highest insurable value so that Mortgagee's in- terest as mortgagee is not subject to coinsuzance, and the policy or policies shall be held by and be payable to Mortgagee, as mortgagee, and Mortgagee shall have the option to receive and apply any and all amounts so pay- able on account of the indebtedness to Mortgagee out- standing pursuant hereto, or permit Mortgagor to receive or use it, or any part thereof, for any purposes without thereby waiving or impairing the equity, lien or right 4 ~ under and by virtue o€ this nortgage instrument, but if V . i riortgagor defaults in maintaining such insurance, Mort- ~ ~ gagee may place and pay for~such insurance or any part i ~ ~ thereof without waiving or affecting its other remedies ~ ~ ~ for such default, and each such premium payment shall ~ ~ - > bear interest from date paid at the maximum legal rate. ~ - < ~ 4. Mortgagor shall pay and discharge, at least ~ thirty (30) days prior to the accrual of any penalties ~ ~ thereon, all taxes, assessments and other governmental ~ ~ charges upon or against it or any of its assets or trans- ~ actions which if unpaid nay become or be made liens • = against such property, except to the extent and so long ~ as the charges are being contested in good £aith and by - proper proceedings in such manner as not to cause any - materially adverse effect upon its financial condition ~ or loss of any righ't of redemption from any sale there- under, and, to the extent it shall have set aside on its ~4,, _ ~ - S - F~~222 ~Z~26 _ti ~ ' ~ • ` ~ .