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or policies said Mortgagee shall have the option to receive and ;
apply the same on account of the indebtedness secured hereby or t
to permit said`Mortgagor to receive and use it or any part
thereof for other purposes without thereby waiving or impairing
any equity, lien or right under or by virtue of this mortgage;
and in the event said Mortgagor shall for any reason fail to keep
the said premises so insured, or fail tQ deliver promptly any of
said policies of insurance to said Mortgagee, or fail promptly to
pay fully any premium therefor, or in any respect fail to perform,
discharge, execure, effect, complete, comply with and abide by
this~covenant, or any part hereof. said Mortgagee may place and ~
pay for such insurance or any part thereof without waiving or ~
. affecting any option, lien, equity or right under or by virtue ~
of this mortgage, and the full amount of each and every such
payment shall be immediately due and payable and shall bear
interest from the date thereaf until paid at the rate of ten per
. centum per annum and together with such interest shall be secured
by the lien of this mortgage.
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4. To permit, commit or suffer no waste, impairment ~
or deterioration of said property or.any part thereof.
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- 5. To pay all and singular the costs, charges and
expenses, including reasonable lawyer's fees and cost of abstracts
- of title, incurred or paid at any time by said Mortgagee because
and/or in the event of the failure on the part of the said .
Mortgagor to duly, promptly and fully perform, discharge, execute,
effect,_ complete~ comply with and abide by each and every the stip-
ulations, agreements, conditions and covenants of said promissory
note, and this mortgage, any or either, and said costs, charges
and expenses, each and every, shall be icnmediately due and payable,
whether or not there be nokice, demand, attempt to collect or suit
' pending; and the full amount of each and every such payment shall
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~ bear interest from the date thereof until paid at the rate of ten
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~ per centum`per annum; and all said costs, charges and expenses so
~ incurred or paid, together with such interest, shall be secured
; by the lien of this mortgage.
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~ 6: That (a) if Mortgagor shall (i) voluntarily be
adjudicated a bankrupt or insolvent, (ii) seek or consent to the
appointment of a receiver or trustee for itself or for all or
any part of its property~ (iii) file a petition seeking relief
• under the bankruptcy or other similar laws of the United States
or any state or any other competent jurisdiction, (iv) make a
~ general assignment for the benefit of creditors, or (v) admit
in writing its inability to pay its debts as they mature; or
(b) If a court of competent jurisdiction shall enter
an order, judgment or decree appointing, without the consent of
Mortgagor, a receiver or trustee for the Mortgagor or for all or
~ any part of the property of the Mortgagor or approving a petition
~ filed against"the Mortgagor seeking relief under the bankruptcy ~
# oz other similar laws of the United States or any state or other '
~ c~ompetent jurisdiction, and such order, judgment or decree shall
r'emain in force undischarged or unstayed for a period of sixty
~ (60j days; or -
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