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the time such earlier action was commenced. No remedy conferred
upon or reserved to Mortgagee herein, or in the Note secured
hereby is intended to be exclusive of any other remedy or
remedies, and each and every such remedy shall be cumulative, and
shall be in addition to every other remedy given to Mortgagee now
or hereafter existing at law or in equity or by statute. No delay
or omission of Mortgagee to exercise any right or power accruing
upon any Event of Default herein, or in the Note secured hereby,
shall impair any such .right or power, or shall be construed to be
a waiver of any such-Event of Default or an acquiescence therein;
and every power and remedy given by this Mortgage, or in the Note
secured hereby, to Mortgagee may be exercised from time to time as
often as may be deemed expedient by Mortyagee. Nothing in this
Mortgage or in the Note secured hereby shall affect the obligation
of Mortgagor to pay the principal of, and interest on, the Note
secured hereby in the manner and at the time and place herein
respectively expressed.
Article III
Miscellaneous
Section 3.01. Mortgagee may, at its option,-and without
waiving its right to accelerate the indebtedness hereby secured
and to foreclose the same, pay either before or after delinquency
any or all of those certain obligations required by the terms
hereof to be paid by Mortgagor for the protection of the~Mortgage
security or for the collection of the indebtedness hereby secured.
All sums so advanced or paid by Mortgagee shall be repaid by
Mortgagor to Mortgagee within fifteen (15) days after demand by
Mortgagee to Mortgagor for said payment, and the amount of the sum
so advanced shall bear interest at the maximum rate permitted by
law, and said sums shall be secured by the lien for this
Mortgage.
Section 3.02. Any failure by Mortgagee to insist upon _
the strict performance by Mortgagor or any of the terms and
provisions hereof shall not be deemed to be a waiver of any of the
terms and provisions hereof, and Mortgagee, notwithstanding any
such failure, shall have the right thereafter to insist upon the
strict performance by Mortgagor of any and all of the terms and
~ provisions of this Mortgage to be performed by Mortgagor. Neither
- Mortgagor nor any other person now or hereafter obligated for the
payment of the whole or any part_of the sums now or hereafter
secured by this Mortgage shall be relieved of such obligation by
reason of the failure of Mortgagee, at its sole option, to comply
with any request of Mortgagor, or of any other person so
obligated, to take action to foreclose this Mortgage or otherwise
enforce any of the provisions of this Mortgage or of any
obligations secured by this Mortgage, or by reason of the release,
regardless of consideration, of the whole or any part of the .
security held for the indebtedness secured by this Mortgage, or by.
reason of the release or by reason of any agreement or stipulation
between any subsequent owner or owners of the mortgaged properties
and Mortgagee extending the time of payment or modifying the terms
of the Note secured hereby or this Mortgage. Mortgagee may
release, .regardless of consideration, any party liable upon or
in respect of-the Note secured hereby, or any part of the security
held for the indebtedness secured by this Mortgage without, as to
any other party or as to the remainder of the security, in anywise
impairing or affecting the lien of this Mortgage or the priority
of such lien over any subordinate lien; and Mortgagee may resort
for the payment of the indebtedness secured by this Mortgage to
any other security therefor held by Mortgagee in such order and
manner as Mortgagee may elect.
_ -14- ac~x314 Pa~E2014