Power In case of defaults by Mortgagor. That in the event of any damage happening to the mortgaged premises or any part thereof hereby granted or expressed so to be by fire, tempest. earthquake, lightening, rain, riot or otherwise howsoever at any time or times after the execution hereof or if any event shall happen so as In the opinion of the Mortgagees to materially impair the security hereby created or if the Mortgagor is adjudged insolvent or if interest on the present security amounting atleast to Rs. 500/- shall be in arrears and remains unpaid for three months after becoming due or if any default shall be committed by the Mortgagor in the performance of any of the covenants herein contained and on the part of the Mortgagor to be observed and performed and not remedied by the Mortgagor within a reasonable time from the receipt of a written notice from the Mortgagees or if execution is levied upon the said premises or any part thereof and not raised within twenty one days or a Receiver be appointed thereof and is not discharged within twenty one days, then and in any of the aforesaid cases. notwithstanding anything herein contained to the contrary the whole of the Mortgage debt shall at the option of the Mortgagees become immediately payable as if the due date had been elapsed and the security hereby constituted shall at the option of the Mortgagees become immediately enforceable AND in such case all such rights and remedies shall be available to the Mortgagees as would be available to them under the terms of these presents or by law upon default being made In payment of the principal money and Interest hereby secured.
