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s, . l'h31 ill. 'he ~"~nl of a ou;~ being ,ill~tiIUlro to foreclc>>e thi. mortga~e, Ihe: ~,f"rtllag-,~ Ih.1I be ealitle.! 10 a I, al aO\ lim- d r
""h tllledo'ure '1,.1 10 Ihe court hanng Ju"od,c!lon Iherwf fo, tbe "'pol'alm-' fa" f II d' I h PP) " ,U 109
f II ' f' . .. 'u. 0 r<<,.lyer 0 . an Ilngu ar I e monD".-A pro""n, and
tJ 3 rcnt1. Inl't)Jn~..., pro Ita, U!un ..nd rr\'('nuC"t rhrrrof, irOll] what:;.xver lOurclt' d~riycd" and tbtteu ." "a II'"U . Y' . I
3,,,1 3;:reell thaI Ihe ....urt oh.1I forlhwilb .ppoinl lucb receiver wilh Ihe u.ual ""we... an' ~ "' t' f pon .11 I' berl~) upr",l) covtndanled
, . II '-- I h h . . .... L uU leo 0 r.cen'e... 'n I~e ca.<<. and .a' 'p-
I","'!onen! Olla "" ma. e Y I e c,'un .. a m.ller of IlnCl "iht to Ihe Mortgagee, and without refereoc' 10 Ibe ad U'C' .' d 'be
'3Iu.. of tt.e pro~rly h~'.t.b}" mort~.ge(l, or ,10 Ihe aol vt DC)' or io",ln~y of Ihe Mortg.gor or anL otber part) 'Je~nd.}ntO~olO.'uc~u.~{. IIf.;,,:
:\Iort~.ll:"r hrren, .p..-uf" alh ".IV.... !hr IIghl 10 obJt'C1 10 the 'pP()Inlm,nt of . receiver as afore:u'd a d h b I' h b
:I I':,,,iIIlll1r11t ,hall he ",3dr U an admined equily and .. a matter cJ absolute npt tt> tbe Mo~t&agff' ao; Iha~r~bY uprn.) M"nsedl1ll t II. hSUC
lIutil"r ro rh~ ~1ort"a~or. of '&me" ma.v (' on(' \nt cur
. b. T~at. if a," pr<~rrdinp ,ohoulJ be in.liluled againol .he propen)" covered by thil mortgage upon .m other lien or c1.im \~belher
...pdlOr or JunIor 10 Ihe II.n ',f thl' mor'!:a!:e, Ihr Mongag~e ma' at itl option immedialely upon inllilution of loch .uit or during t~ ~nd-
enn Ih.-rt'of dedarr Ihil mort..:a..:e and Ihe indeble,in("\< '<<ur~d h'ereby <lue and pa) ablr forlhwilh and ma,v " d
Ihi~ mortgagr .t 'lJ option pracee In fored.-e
,. To pal, all and ,in..::,Jar ,Ihe co.ts, .fe~, ~hargn a~d "n~OIe. of rver, kind, iocludioK Ihe COIl of .n abt-tract of lille to ..id laOlb
fOlllltl 10 br ("<."nn,elll or rxpt"d,rnl III connt'ClIo'l w'lh an,\ S",I lor Ibe forrcl",urr of Ihi. mortgage .nd allO including, wh Iii tb M rt
I,. oh!;gatt'd to P3\' ,amt' or not, .r~alOn..hlt' .artorot'y'. ft'f'1 ill<"urred or ".ape-oded at any .irne b;"' tbe. Murt..cec becau.. 0: t~~ i:l1ur~ ~.~
~1ortJ.::1~or t.) p<<'rfnrrn. ('C'mply ",-.~h and a~lde by ~II or an::' of tbe covenanta. condition. and .tip\Ji~fion. of ..id Proml-.olY note, or .hla
Jllnrr;,:;.l":t", ill rhr:' forc( lo'urt' of lhlt morrgagf: .n~ In COllectlDR rhe &mount ....-cur~d ~('rC'by ,..;th 0: without Ie-g.l proceedlDp' and to rclm-
hili'" Ihr MnrlgaKet' for nery payment made or Incurred for any locb purpooe "'lIh '"lerNI from dare of ""er)' soch p.yment al Ihe ratr of
ri;:ht pn cenl (~~'c) ~r annum; such \Jaymen:. .nd obligalionl. wilb inlerMI Iberwn .. alore..id, .hall be '<<ured by the lien herwf.
g, To hep II-., building or b~ildinlCl. no,.. or hereafter on ..id land in.ured a"ailllt 1011 or d.ma~ by fire, enrnded cover.~ .nd
othtr peril. in 3 ollm n~1 IMO tba~ ~helt full I!l.urab!e ,"alue al Ibe <'C>>t and u~n~t' of Ihe ~f.ortg.~r in a comp.:!) or comp.ni... approved b)
Ihr ~Iorl;:a;:u, Ihe pollc,' or polin... 10 he held b} Ihe MortKagee, ~nd sw:h polin or pohnM of Insurance Ihall have: affixed Iberrto . SI.n,
<lard Nrw Yor" ~Ior",aj..'tt (,Iau..~, ma!..inll all I",. or 10&lI" .unJ.. ",-,h policy o.r policies payable 10 tbe Mortgagee as its inlrrnl m.y ~p~U,
an.l t.. .IrliHr ,~i.! I"':'C) or pohnr. 10 Ibe Mortg~grr whel! !,"uro v'illh the receIpt. for the pa)'menl of Ihe premium Iberefor; and in the ,,"enl
"'" ,,"n of molln ht'\'omes pa}'ahle under .ucb pollc}' or pollnes, the MorlgalCee .ha'l have Ihe oplion to receive and 111'1'1)' Ibe sam- on acroun!
01 tilt' indehl..dll"" ,..","e<l hereb}' or 10 ~rmi: Ihr Mortgago,r tL' rt'Ceiv~ and Ule iI, 0' an}' pArt thereof, for other pu.pos", wilhoul Ihereb}
\\ "i \ in;.: nr impai rill;: any rqUlt}, lien or ~Ight und.er or b~' ~ rtue of tb,~ mortgagr; an,d Ihe Mongalt<< if il deem. nr.'eo.ar)' ma)' place and pa}'
f..r 'lI,'h in,"ra:!cr, nr an, part Ihe,,'of, wllhout loung, na"'lOg or afft'CtIDK Mortg.gee. oplion to forrcl05e fo, hreach of th:. coven aliI, or ,0\
pHI 'h'r",f. or 311' ri;:hl or option under Ihis mongage, and eHry luch pa}'merol .hall brar ir.lerNI frmn dale thereof until paid al Ihe rate of
ei;:hl pn ,'enl (i'A) pt"r annllm, and all slIch pa.'mrnt. wilh inlerest llo aforMaid .hall be .rcured b,' Ihe lirn her-,of. In tbe event an" 10,,, or
darn,,;:' is ,"t1artl ~longaJ.:or oh.,1I n?tifr Mortga;:er of .uch 101. or damagr \\ilhin fort}'-eight (41) h,)IIt. after tbe happ<'ning Ihereof; tM
f:1ilntt. In ;:i\ r ,".h noli.e ,hall l'ODOl,lule a default and the Morlgager .hall han the righl. hrrein ;:iHn for all default..
'I, To permil, commil or ouffrr no \\Ule: and to m.iMain the impro\ement. at all lim.... in 3 'tale of good rrpair and ,'Undilion; and
I.. .10 ..r pamil I.. h~ .I.."r 10 oaid prrmi.e< nOlhing that will altrr 0' change Ihe u.e and chu,cle, of uid pro~rt:v or in an}' way impair or
wea\-.'n Ihr ",..lItil' .of said morl;:al(r. In cU,e of the rdu..l, nel/:I<<t Or inahilil)' of the Mortgagor to rep.ir and mainlain said pro~rt}'. Ihe
Mort;:a;:... rn~\, al II' optIOn, make such repa". or cau.e tbe same to be made and a."'ance moni... in thaI hehalf which <urn. .hall be .rcured
11\ Ihe lien hn....f am! hrar inlrrrsl al Ihr rale of ei;:hl prr ceru...J 1%) prr annum.
\(', '1'.. tleli\t'r Ih.. ah!t!,arl or ah,lraCIs ef tille co\ering Ihe mortgaged pro~rty 10 P-fortgager or il. dM;lCflurd aj;enl, whirh .hall .1
all :ill"', .Il1till;: Ihe life of Ihi, mortgdl(r, rrmain in the pOIonsioOl of Ihr Mortgagee and in evenl ,'f Ihe forerlU'lurr of Ihi. mort;:agr or olher
Iran,f.r "t lille, all ri;:hl, tille a!H1 iOla.....1 of Ihe MOtlKagor in al'd I.. an," .uch alt'lran or 3~,racls nf IiI Ie .hall pa.. 10 Ihe purcha.cr no
}.:r3f1tn".
1 L Tha! ,,0 waivrr of al1\ COHn anI herrin or in Ihe obligation 'c-cured hercb) shall al an)' lilne hert.:ltrr he held 10 hr a \\ ai,'n of
3n\ of Ih, nlhrr Irrmo hrreof or of Ihr nole .rcured brrrb}'.
12, ThaI il! ""ler 10 a('(derate the malur;l\' of Ibe indehtrdne,. hneb.- sr-rurcd becaw, ,,: ::;: !;;:ure of the Mortgagor 10 p,y an)' lax
~''''"menl, liahility, obli;:alion or encumhrancr upon ..id pro~n)" as brrrin pr~\'id.d, it .hall DOt: b, n<'t'nury nor re'luioile thaI Ibe MOrlltaltfe
,hall firsl P") the .amr,
I L Thai if Ihe MOr!!(.gnr .hall fail, neal<<t or rduae for a prriod of Ihirr, (30) da)', full) and promptl) to pa)' Ibr amounl. re'
'1uir..d I.. hr paid h\ Ihe r.oIr hrrrh)' o<<ured or the inlert'lt Ibrrein I pr'ri fie.'! or .n)" ,?f the sum. of money herein rderrrd 10 or hereb>. se-
'"lIred, or otht'rwi..c' dill,', full_,- and promptly to ~rform, t'xt'Cuttl comply \'nrh and abide b~. each, rver." or any of thr covenanu" condltlon~
flf "'lipIILuiflll<.; of thi,. IJlortgag~, the pr(lmi!l~ry not~ b~r~by In'Lred .nd/~r rhe ~on5t~It("tion I?an :J.:ftemtnt, i' .n~, then. and in ~ithC'r or in
.;111\ IIf "':Kh C" ('Ilr..... \\ IfhPllt notlCt" or dt"mand, the said aggr('j.{ate !lUm m~ntlonrd In 'all! promu..'ory ni):~, le-n prrv.oul paymenr!, If any, and
an\ .11,,1 ,"I ""'" In.-nl;..,,...1 !In.-;n o>r '('norrd hereby .hall ht'Cnme dur and payablr forthwilh or ,herrafter at Ihr conlinuing oplion nf Ihr
\tllrlCJ}.:t ~ 3'" fully and cornplrtd.\' 3" if !'iaid a~(("~atr AUm" werr ori~inall~ stipulated ro he paid at such time, .nJthing in !'aid promi~)ory
110ft' Ilr tuft.in to tht" ulIltrar.\ nor\\irh!'itandin~. and rh(' r..1orlJ{agu' shall Or t:ntitlrd th('rrupofl or thrrt3ftrr \\irhout noticr or drmand to in-
,Ii"!,, ",il :0' 1.1" or in r'lllil\ 10 enfon'e I"e righl< nf the MOrll/:ljr;fe htr..und" or IInder ,aid promio""r)' nole. In tbr e\'eO! of an~' ddu,!r
.., h"',,,-I, 011 Ihr part of the: MortICagor he~eullder or under uid ,promi~,()rv nOlr, the :,I."rt~agee .hall. have Ibe conlinuing option 10 enfo,rcr
.~~l\ InI"llr flf all ',lIn.. ~tnlrtd h~rt'h.\' b~ af't:on at 13\\' or b~' ~lIIt III tqulh- tn forcdU1t' rbls rnortY:3~tt t'ltbtf Or both, concurrently or oc:htn'\"JI~,
~nll "'u' 3ctio1l fir ~lJit ,hall nllt at-tatt' or h(" a hat to or "'ai,.rr of the ~tnrt;:aJt(''"'~ rit.:ht to insritt!ft or m3intain thr othrr. providrd !laid "'{ort-
:":~l~'T ..hall h;I\(" ol1h nU(' p:J\m('nt an,1 lI,ari"f;1crion of !l::Jili indthttrlnt"'-,
14 '1'1131 in Ihe r'~rn! !hal Morl;:3l:or .hall (I) COMeO! to tbe appoinlment of a rrcei,'cr, .ru.tre or li'!lIidalOr of all or a ,"I>"alllial
p.ur of ~1Ilrt~.:l~nr'.. 3"tr" or (2) he adjlldif~trd .3 bankrupt or inlOlv("nt. or filr: a volunt.ry ~tirion in hankruptcy, or admit in \'\'ritinJ,: it~
ill ",ili! ,.. I'a', ,,, d, ht. ,. lbn' ht"t olll< olue, or (3) mah a Keneral a"ignrnnol for. thr hrnefil of creditor" .or (,H file a prlil,i",-, or an"Hr
,."d"ill~ fl'lJq::.,II11/.1t11l1l fir arrallgclnrnt ,\ith crr:ditor,", or roo ralri.t' 3d,aor3J\e of an\' In~lv~O('.\' la~,", or (S) flit' au" an~'''t'r adJnlttl"l~ thr ma.
'("Ii.\! alh~.llio:\.. f.f a Pditinn filrd 3g:ain:-.t rhe' ~fnrt~a~or In an~ h.lnl:uptcy, r~or~anI7atal)n or. 11l....h.rnc.\. prO('e("dln~. or (t.) actIOn !lh3il hr
tall'lI in It'll' \~Hrt~.J~(Jr h,r the- p\lrP'O'r' of rffrctillg an." of tht' ,for"tJ.:~Hl.~, or (7) .an_'" orc.lr~" JlIdl>:"m~nt fir (I~('rt't' ~h3.11 bl' rnr.tOrrd upon an
"'pplil'~lti('1: ,d ;1 c'rtditllr or \1IlrtJ..:3J.,:or I" J: nUlrt of fomilt'trnr JlJfI~~lrtaon apprOVI:ltrt a prfltlt,n .~rcllll~ appc:Hntmr~t o~ . rrlt"IVrr or t.fulI,tee
lit ,lit flf a ..ql1"Cltlli;11 P,lfl nf the 'lort~;lgur\ a"...('t"l and luch c d~r, JudJ..'111rnr or d('('rrr ~hall ('Onllnllr: IIn!u.~"rd and In rtf<<t fnf" a~)' yrnod of
,Inrl\ (30) ''''''''''<lli\o .Ia\" II-:r Mt>rlj;,ger ma) dedare Ibe nole hrreln- oecurrd fOrlh~v,th due and payable, ~,hrrr<lp"n Ihe. pronnpal of and
1111 inlrrr'l ...n"r,1 on Ihr notr a",t all olh~r .um. hereb,' ll<<ured .h.1I becomc fnrlhw,th dur .nd pa~ .ble as ,f all of Ihe .a"l .umo of mon.y
"rfl' nri;..:inalh IlitipuLunt tn hI' paid on ~lleh day; 3tHI th~rt:upor~ th~ !\~url~ai(rt wirbour norirt or drmand m.~.. rrotN"Urf' 3 'llit .. I.,,' 2nd/or
ill rqllit\ :l'\ jf ali moni,.... ...rnlrt'rl hrft"tn had matur("tI praor to Irs Institution.
1~, ThaI Ihe MortKage:e or 311.\ p..r\On ."Ihorizrd by Ihe A-fort~ag..e .hall have Ihe righl to enler upon a..d ;"'p<<t Ihe mortgaged
premi...t, 2t all r~a!lonabl~ rimt'!'.
It.. Th"l all.\ 'um ..r ""m. which may be loaned or advanced h) the ~ortga6ee 10 Ibe Mortgagor at an,. lime after Ihe nco:di.nc
..I !hi. indelllure, lo;:tlher ",ilb int"..... Iherron al Ihe ratr .grud ~pon al Ihr t,me 01 loch loan. ,?r advanc~. Iball ~ equally. e...,urN ..,,10
antI h:\vr: tht, ~alur pflOrih" ;u rhe ori~inal irHlr:htf'dnf',\' .n~ hf' luhJcct to .11 rhe term!l and prOVUlon" nf rble ~orlg&..a'e: provldc~ that the
f . 'pal I land;n" " an\' limr .h3l' !'vI "xceed 3r. .moun! "'(\itl to onr hundred ant! flf,,' ~r crnl (150'7(') of tbe
a~~fq;'~'3tr arnfPu:f 0 pnnn Uti " ... . . .
rrilu'ip:tl amoullt flrigilla:l.\' ,"C",:urtd hen'h,\"
I; ThaI, if re'lnir(,! b,' Morl~agee, Ihr said ~Iorlg.gor \\ill pa) unto Ibe Morll.:agrr, 011 tbe fi.1S1 cla) ut. eac" ant! nu) co.nsr-ruli~'e
rr.ltlllh a 'urn ("/Ilia I tn onr-t\\rlfth of thr: annual amount 0(,,(""13r._ to pa~ all taIr:, and "as~r,,'mtnt' 3.~aln~r. rhr 531d morlg:a~rd pr~mnM, ~al.d
n;'llllhi\ ,;,m In 'hr ,...Iimaled a",1 calculaled on Ihe amOu?1 of .!lxeo assr..ed a~aimt u,d .mortKag~d premu("\ ~or thr prev,ou. YU', and If
f I "h 'I nIp." '11 inouranu prrm,um. 10 mannu and form a< prov,ded herem for the payment of tax" and ..saaments.
un lrr rt"qllH(,(' ~ no 0 J.:aKr~ 0 .... .
I ~ '1'1 I' Ihe rHnl Ihr loan which this mortgage il ltiHn to .Kure i. made for the purpo>e of fi~ancinjr;. eithrr the con.truction
"I "n\ t",il"ir:~' ::~ Ihe ('onolruclion of improvrmenl. and/or additiono to existin" buildin~., the Morlga!,:or, If requllrt! by thr Mortgagre,
I I 'I 'Ih Ih" 'I rt 'acr",. or ilo deoi"nalrd acrent an amounl of mone.' r'lual 10 Ihe difference het",ern the net proceed.
"'pre'~ \ 3,rrn" 10 l t"'["M''''' "01 .. ;\0 Cl g ",," - ,..,.. .". J "h h 1
..i the 1..,,,,- ""1\ Ih,' t"lal 31rO'"II, a. delermi",",l b\' Ihe ~fortgap:ee, r<tl"ired to full)' complele, ..a.d comtruCl,on 11\ accor ance w" I e l' alii
,,,,d , "ific.tio", h,'rrlofnrt' .uhmillul h,' Ihe Morl~agor and approved hy Ibe Mort!:agee. S31d amount of mnn..y shall be placed b~ the
\1 p , ,,' 'n" Proc-- '\""0"""" ,'" 'h- name of Ihr Mortga~nr, and Ihe .amr oball br u.rd b,' the Mortg.gee to pay Ihe CO!II,
, ":""l~'C ,"., AO.. S III ",., . - .' . f h' I r' f h d h . Ih t
l.h.lq..':~.... .....lItl t1 '('O---t., irU-qrrCil in rhnnrnioli \\ith ~a.id construction pnor to dl~bunln~ 0 I IS oan" t u u-: ~r agrrr t at In r rv('n
'I " ,I',' f II' I I ~ n or b-fore thr dale IIlIed in Ihe ComtruClion Loan Agreemenl or III Ihe evenl Ihai th~ ","Olio. on
'I.' ."'><lrIlCllOn .. nol II · comp e ~u n , . '00 f () d 'f b 'I .
,:,i.l '''"'lrIlCl;on .hall cr"oe'h:fore filII, omplelion and such C""a1;011 .hall conllll",e for a pen 0 ten. 1.0 ayo, ,!r I. .u "ant'.a con~llluo~s
'r,,"re" .h311 "01 h, n.ade in ollrh ~on'lrllclion, Ihe" and in an)' SIKh event the Uld. aggreg&tr .um, pnoclpal ~nd Hltr, ~t, menl,oned, m ..~d
I ~, I II n n'("\ reI red hnrbs" .hall hecome due and ~'able forthWIth or th~.edle', at the oplton or ..,d Mortgaere. and 10
1'I,,,:n,' ..." 'f'''I', ha'H a . .0 'f' · " a'" ~on'!ructi.,n for.. "'riod of len (IG) da.... or if .nh'lanrial continuous progrr"" .hall nol be
r:t. t"Tn~ fI "Ill C t'~,.ltlnn 0 \\.,r" upon ~ If ... . . Y-. . ~. h 'f d . d I 'd '
I'. . f'd th^ Morta.,yee may at II. o"tlon en!u Inlo and upon t e '" (;rt~al:e p,emlSeo an comp ete"l c,')n
lIJ:lt (' In ..llnl rOlhulIetlon, :u a o fe'!'a I " ........ i' 'd \f b h .. d "
";lillion io o",'h mannrr .u il deem. advi.ahle wilbOut an)' in!"rference from Ih".1>\orljr;agor; th~ "I. . ortKagor !re}" gtvln~ an grantm\(
L .. I . f II \'"r .n~ aUlhor"I" to make .uch entry into .nd upon ..Id mortga~rd premlSM. 10 entt, 1010 .uch conlncts or ar-
t'! ter _"\-_or ~"l~t(" u po.. u -; _ ' ".."d "1.0 . P A t" d
r Inh~'~nt'nl' ;j' nI3__' hr ncc~!o~ar.,' to complrtr .aid con.tr'lf1ion, and to tx~nd .n~ monlt't rt'rnau~lng In taJ ani In roc~~ . croun ..n
i;, "ddilin~ an\' "nn. 01 monro"~ nttM"rv to complrle .aid con.tru~lion; .nd any ..d .11 m,?llIb"' lIe'S~n~rt dby Ib~ M~~IC.!t.ee .mlc~nbrcl'o~
"ilh "och corn 'Ir;ion or (On'lru~'li!ln in e~c". of the mon,e, i:o uld ''LGan. in PrtY:u, Acco'm! .. "" a e to t e sal pnnc,p' e t an
,hall draw inl~rnl al ;"e rale Plovided in said promiuory note, and .hall be IKured by Ihi, mortsare. .nd .ball be p.j~t.le b)" the MorlKagor
"0 .Irmand