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sions hereof shall not be deemed to be a waiver of any of the
terms and provisions hereof, and Nbrtgagee, 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 M~rtgage to be performed by Mortgagor. Neither
Mortgagor nor any other preson now or hereafter obligated for the
payment of the whole or any part of the sums now ar }lereafter se-
cured by this Nbrtgage shall be relieved of such obligation by
reason of the failure of Mortgagee, at its sole option, to comply
with any request of hbrtgagor, or of any other person so obli-
gated, to take action to foreclose tl~is Mortgage or otherwise en-
force any of the provisions of this Mortgage or of any obligations
secured by this Nlortgage, 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 hbrtgage, 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 Mortga-
gee extending the time of pa yment or modifying the terms of the
Note secured hereby or this Mortgage. Mortgagee may release, re-
gardless of consideration, any party liable upan or in respect of
the Note secured hereby, or any part of the security held for the
indebtedness secured by this [~brtgage without, as to any other
party or as to the reinainder of the security, in anywise irnpairing
or affecting the lien of this ~fortgage 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 hSortgagee in such order anci manner as
hbrtgagee may elect. -
Section 3.03. To the extent of the indebte~ness of
~brtgagor to hbrtgagee described herein or secured hereby, t~lort-
gagee is hereby subrogated to the lien or liens and to the rights
of the owners and holders thereof of each and every mortgage, Iien
or otY~er encumbrance now~or hereafter on the lands described here-
in in Exhibit "B", attached hereto and macie a part hereof, which
is paid and/or satisfied in whole or in part, out of the pro~eeds
of the loan described herein or secured hereby, and the respective
liens of said mortgayes, liens or other encurnbrances, shall be and
the sane and each of them hereby is preserveci and shall pass to
and be held by ylortgagee herein as security for the indehtec~ness
to Mortgagee herein described or hereby secured, to the same ex-
tent that it woul~ have been preserved an~.l would have been passed
to and been held by ~iortgagee by separate cieed of assignment, not-
withstanding the fact that the ~ame ::~ay ~e satisfied and cancelled
of record, it being the intention of *he parties hereto that the
same will be satisfied and cancelled of record by t'r-e holders
thereof at or about the tirae of the recordiny of this Mortgage.
.. Section 3.04. In the event any one ar more of the prov-
isi~ns contained in this i~brtgage or in the Note secured hereby
shall for any reason be held to be it~applicable, invalid, illegal
or unenforceable in any respect, such inapplicability, invalidity,
illegality or unenforceability shall not affect any other provi-
sion of this Mortgage, but this Mortgage shal~_ be construed as if
such inapplicable, invalid, illegal or unenforceable provision had
never been contained herein or therein.
Section 3.05. ho transier, assignment or hypothecation
of all or any part of the security for this trbrtgage shall be made
by Mortgagor or a pledgor without first haviny obt3ined the prior
written consent of [brtgagee. Mortgagor shall not, without the
consent in w~ritin~ of Nlortgagee, encumber by mortgage or otherwise
any portion of the Premises encumbered hereby. Violation of the
provisions of this paragraph shal.t be deer.-ed an Event of Uefault
and all rights and remedies of tiSortgagee provided for in this
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