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the event of a default under any of the terms, covenants
and conditions in the .Note, this Mortgage or any other
instrument securing the Note to be kept, performed or
observed by Mortgagor, Mortgagee may apply to the reduction
of the sums secured hereby, in such manner as Mortgagee
shall determine, any amount under this paragraph remaining
to Mortgagor's credit and any return premium received from
cancellation of any insurance policy by Mortgagee upon
foreclosure of this Mortgage.
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1.06 Condemnation. If all or a material part (which
determination s a be made by Mortgagee in its sole and ,
absolute discretion) of the Mortgaged Property shall be i
damaged or taken through condemnation.(which term when used
herein shall include any damage or taking by any govern-
mental authority or any other authority authorized by the i
laws of the state where the Land is located or the United
States of America to so damage or take, and any transfer by
private sale in-lieu thereof), either temporarily or per-
manently, the entire indebtedness and other sums secured -
hereby shall, at the option of Mortgagee, become immediately
due and payable. Mortgagee shall be entitled to all
compensation awards, damages, claims,_-rights of action and
proceeds of, or on account of any damage or taking through
- condemnation and is hereby authorized, at its option, to
commence, appear in and prosecute, in its own or Mortgagor's
name, any action or proceeding relating to any condemnation,
and to settle or compromise any claim in connection there-
with. All such compensation awards, damages, claims, rights
of action .and proceeds, and any other payments or relief,
and the right thereto, are hereby assigned by Mortgagor to -
Mo_rtgagee, who, after deducting therefrom all its expenses-
.including attorney's fees, may release any monies so re- '
ceived by it without .affecting the lien of this Mortgage or
may apply the same, in such manner as Mortgagee shall
determine, to the reduction of the sums secured hereby and
- to any prepayment charge provided in the Note, this Mortgage
. or other instrument securing the Note. Any balance of such
monies then remaining shall be paid to Mortgagor. Mortgagor
agrees to execute such further assignments of any compensa-
I'~ tions, awards, damages, claims, rights of action and pro-
~ reeds as• Mortgagee may require. -
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f i.07 Care of Propel.
j (a) Mortgagor shall preserve and maintain -the Mort-
I gaged Property in good condition and repair. Mortgagor
shall not remove, demolish, alter or change the use of any
building, structure or other improvement presently or
hereafter on the Land without the prior written consent of
Mortgagee. Mortgagor shall not permit, commit or suffer any
waste, impairment or deterioration of the Mortgaged Property
or of any part thereof, and will not take any action which
will increase the risk of fire or other hazard to the
Mortgaged Property or to any part thereof. !
(b) Except as otherwise provided in this Mortgage, no
fixture, personal property or other part of the Mortgaged
Property shal•1 be removed, demolished or altered, without
the prior written consent of Mortgagee. Mortgagor may sell -
or otherwise dispose of, free from the lien of this Mort-
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MAHONEY HADLOW 6 AOAM5,1401 AMERIFIRST BUtt.DtNG•. MIAM1, FI.ORtDA 33131 TEt..(305) 358-5550 y