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"" II' I ' I I Ih h' em!: 1"'llIule b loredoot .hlS IllOrt.."g", 11" Mortgag~ !hall he entitltd to apph al :UI\ limr durin"
1 I"or" ", ~r' "II {) fe rO~lfl a\ I/I!; Jurisdiclioll Ihr, rrol for Ih, t appoinlmrnt of a rt\:dvtr of all and singular Ihr mo'rt"a"rd' propr"'" and
II :\ f("llh, In{OIJlr~. pro lt~ I"Sut'~ 2 uJ rC\'f'O . lh f 1 h .1 . . . ... b . f
'a. ' I Ihal Ihe l'O fl h II f l 'h Uh erro. rom \\ allOner !!Oun'e urflved; and tbertupon II IS bereb)' el<pr~h cu\'enanled
.I1H ~flr' III ,,_ ,. U L .' ha ofl WII appainl ",,"'h r<<ti\'er wilh Ihe usual powen and dUlin of reni\'rr. in lil..r ca,e$' :ind ,aid an.
1~'1"1Il1l'1l1 ,IJ "" 1ll3ue 0\ I e CUUlt as a malter 01 .lr"1 ' hI t Ib 'I d . b I ....
I t hI' h b d II ng 0 t" ,)rtKagee, an WII oul re eHner 10 Ihe ade'luaC\' or inldt<luac)' of Ihe
~il Ur 0 I "h iHOrr ~ ,~te ~'I rnorr~3Ke , or ~o Ibt &.lIHnc~' or inoolvency of Ihe Morlgagor or an' olber parl\' ddenda'Il1 ro such "il The
,,,rl..:~,:or ~re ,\ '1"'-' Ifa , "'I."n .Ihe ngh~ 10 ohjel'l 10 Ihe appointmenl of a reeriv:r a. afor'e,aid and h;reh\' ex re.." romenl~ ;h~1 ,uch
"1'~>OllIlIlIfI,1 ,hall he Inade a. all ad'OIlted equllv ..nd as a malter of absclult rioht 10 th M I' "h h' p , L ~ ' h
Ilutit."\~ to tht" .\1l)rt~.J~ur. - t\ e J. or g3.~(,,~ anu t ;Jt t C' ,aInt Ina~ lIf' none \nt out
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I., ThaI if an,\ p",cetdin;:. .I.ould ~ in'tiluled ag"il!>1 the properl\ ~v.r.d b" thO mo I ' h I' I . h h
, ,. h\'I h' ' 'V" .. II r I;a);t upon alii or er len or , ;um " et er
~lIpcrlUr or JunlOr lu t.e l~n 0 t I'" mort~a!"t.', tht' ~tortlo:a~tC' m&\ at il~ option ilnmrdiatC'I}' upon i!"31ti!lltion of such ...uit or during Ihe pC'nd.
rnr~' th...""f dtelarr Ih,. mort;:a;:,' and the Indrhtedue.. secured htreb~ due and pa,\3blt f h
Ihi, mOrlg,l~e, orl with and ilia. al it, oPlion procttd 10 foredu.e
" r... P3\ ,all and .ingul", ,Ihe "0'1., ,fe"", ,harg"" a~d el<ptnse. of e\'rr~ kind, indudin~ the COSI of an abstracI of litle 10 said lands
founll 10 hr COll\en'elll IIr e1pnl.em In conn<<1101I Wllh fan~ !1I11 lor Ihe fOlr-do""e of Ihi. mortj;a"e, and 011'\0 illdudinj.(, whethtr :ht J-,lortga!:et
is ohlio:at<<1 10 p.l' .ame or nul. .'e;bon"hle .al<orne~"s e<> ineulred or C1pelhltJ :.1 aT;' limt b~' the Mortgao:ee bccau,<, of the failure of Iht
:\lort;:aC:"',lo pHlorm, n.mpl~ ",~h and ah.de b~' ~II or 111\ of Ihe co\ tnanls. rund'lion, and 'Iipulalloll< of said romiswf\ nOlr, or ,hi.
1Il''',I;:a.:r, III Ihe for... In-ure of Ih" morl;:a!:e and 10 COIl<<llDg tht am,.>unt stCuled h..-reh\' wilh or \ 'th I I P d' . d .
Irur.t the MorlKa!:et for t\'en pa\'mtlll made or incurrtd for an" lucb p'lr"""r "ith int'r~ I fr m I I" lout e;:a PhfOcet III g., an h!O relmf,
'h (8") .. h J' r" I -..~ 0 (at:' (I ("'tn" !tue p3\"mC'nt at I C' cart' 0
<II.: I per crnl 1< per annllm; !lIe POl) menu and ohlio:ations, wilb inler....t therw.. '" afore,aid. ,hall be 'teured hY'lhe lien htrrof,
~', '1.'0 i..ttp Ihe buildinj;t or h~ildin~. now or btrtafler on laid bnd insured against Iou or damage h\' fire, exlended rO\'eralo:C and
olher pcnls III a sum n~ I"", Ihl',' ~h<lr full lIl.urable \'alue ar Ihe C'mt ':lod txpen!e of the Mortgagor in a rompan\' or rompanies appro"ed h\
Ihe ~!(:rl;:a;:ee, Ihe pohc) or ,pohcl"" 10, ht beld hy Ibe Morl"aKu, and .lIch policy or policiM of imurance sball ha"e affiud I"erelo aSIa";.
dard ~e", \ or~ ~lorli:,alCee (Ia~..,:. maJ;.lIlg all 10.. or I...es ,undtr sU,ch polic~' or policies pa~able 10 tbe Mortlla~ee a. iI' inl"'''''' mas' appear,
ami I.. ,Irlo, a sa,,1 polK\' or polin.,. 10 ,he MOrlj;t~~u whe~ !"ued wllh the rn'e; pI! for li.e pa)'m.nl of Ibr premium Iherefor; and in'lhe .-\'em
al\\ "If!' "f mone\ b<<om~ pa)"~hIe undu suc~ pohc\' or pohcI"". the ~on~al.:ee !h~lI ha\'e the oplion 10 rccei\'e Ind appl)' Ihe .am< on a('('ounl
of ,Ih,< 'mh'h,reJn~,~ >n lIred he:,h~ ,or 10 p~rmll Ibe MonKlgo! 10 recelv: allll ,"e II, or any part Iher...f. for olher purposr..., witholll Iht'feI)\
"a"lIl!:; ~H Impal~ln!: :my tq\llt)', hen or!l!:ht und.u,or h~' ~'Irtue of Ibl: 100rll(al:e; an,d Ihe.~lorrKal.:ee if it deem. nc<.'....<ary ma)' place ali<I pa,;'
tor "K'h In'!lr.!"", or .an) part I~ereof, wllho.ut Ioslllg. \\'al\'lIlj;t or affecllllJ/: 1\10rtl:ag.e. opllOn tu forrc!()!te for hrea,'h of Ihi. ro\'ellam, or 010\
p,art thrrmf, or an' n"ht ur opllOn undt< IhlS morlKage. a!ld ~,.tr:-' such pa\'lne~t ,hall bear imerrsl from dale thenof lI11til p:\id al the ralt of
eIght pc~ .'rlll (8%) ptr annum. alld a~I, "K'h pa~mem> wllh III Ie rest a, afort'!lalll shall be s<<ured h\ Ihe lien hereof. III Ih... e"elll am I",. or
i1a,mage I' '~Ifftrrd Mo~j;taJo:nr .hall "?"l)' Mortli:aJo:er- of such 10<5 or damaKe "ilhin fort\'-tighl (48) hon" after Ihe happ('ni"JI: Ihe;rof; Ihe
farlllre 10 g"" '1I1'h n~'IU ,hall <'Un.lItllle a defaull and Ihe Mortgal/:ee ,hall h3'e Ihe riJl:hn hertin ).";\'rn for all <iefault>,
,/, To, pcrmil, ~ornmil ur, .uffcr .no "''''I~ and III m~iulain tht impro\'emenls at all tim"" in a ,Iale of ~ repair 01",1 c"n,liliuu; aud
10 do or prrIDII I? be (.o",e Iu .a,,1 prem..e. nOlhln!: thaI \'1'111 aher or change the u.t and charaClrr of said propert)' or in an\' \\'01" impair or
\Hal.en Ih... ',"'lint)' .of "U~ mongaKr. In c&.\,e of the rriu..l. ntj;tICCI or inahilit)' of Ihe Mort"al/:or 10 repair and mainlain~id property. Ihe
~lortKall:t... lila', 011 It< UPIlO~. mah such rcpalu or cau't Ihe ,ame to be made an<i ad\'anre moni.,. in Ihal hrhalt which ""11< .hall h.. 'N:llfed
h\ lh.. lirn ht'rl'l,f an<i brar IIItrre,t 011 Ihe rale of eilthl per cent (8%) prr annum,
. It', 1:0 delin~ Ihr ah~lraCl or ah'lfart, .of .Iille cOHrin~ tht morlJl:al1;ed prop"n)' lu Mon;:a;:ee or ils desij.;nated 011:<111, "hich ,hall al
311 11lIH:.... ~tU:lU~ the ~,ft:' of .thl' InOf!g:agr-, remain In the ~~~~lon of thr !\.to(~~agee and in f'\"tnt of (h~ f'.)red~ur:' of :hi-, i1i..n;.;:;;.::t. or other
transfer ..t lllle, all lI)::hl, III Ie and "'lerrsl of tht !l10rr"aKor m and 10 an)' luch ab.llart or ~h'lra("" of lit Ie ,"all I'"" 10 ,he pnrrh",.'r or
j;tf3nree,
11. That no \Sai\'er of an.. covenant herrin or in Ihe ubligalion '("(,'lfed hlceh\' sball at an)' limt hereafter h.. heltl I.. he a \Sai\'er <>1
:u" of Ih~ othtr terms hereof or of Ihe nolt s<<urt<! hereb~', '
12, ThaI in order 10 afcrlerate Ibe malurily of the indebtedne" hereb, st'Cured becaule of tht faile.!re of the MortgaKor to pay an)" tn:
a..""o;menl. liabililY, obliKation or e('("umhrance upon said property as berein pr;'vided. it !hall not be l!e.:""5a~' nor reqni,itr Ihat lht Mort~aj;tet
.hall firsl pa)' Iht samt.
, 13, Tha,l if Ihe MOrl~a"ur -hall fail, ntglecl ~r rrluse for ,a prri~d. of Ihirt~ (30) da)'s full)' and promptl) to pa)' tht amounl. cr.
qUlfed 10 be paid b\' Ihr nole htreb)' securtd or tht mlerest therem Iprnfled or an)' of Iht .ums of money hrrein referred 10 or hertb\' ,e.
cllle,l, or olher",i,e dill)', fu\l, lInd promptl)' to perform. tIrCule, compl,\' ,,'ith and abide h)' each. e\'er)' or any of I"r co\'<'nan's. condilions
n; 'Iipulalion, of Ihis mon..:a~e. Ihe promiswr)' 110Ie hereby sreurt<! and/or tbt COn51111clion IQan a!:rament if an\' lben and in eilher or in
any of !'lh~h t"\"t"nl"', n:t~o\lt notil'l. .or drm3nd, the- said a~rC'~at~ ~utn m~lItion('d in !laid promis~r)" nor". 1t'~5 prr\:1~us p~ym('nt~, if any, :1nd
an" "nd all ,"11i< menllOnnl hernn "', seCl~red hereby ,hall ht~ome ~u~ an,1 p:,}'able fortbwilh or Iht'f,'afltr al Ihe cominuinJl: option oi Ihe
MUrl!:ag,(' as fnll, and cOlliplete'" as Jf saIl' aJl:gre~ate ,um< \\ere Oll~\I1~lIy 'I.pulaled to be paid 011 .urn lime. an~ Ihing in said promi".."
n"le (lr ht'frin In the fontran "IoI"ilh,landinJ/:, and the 'Ilorl;:aj.;re .hall he elllillrd therellpon or Ihereafter \'oithoul nolirr or drlnand 10 in'.
,lilUle ,.,il al 1.1\\ or in eqllit, to enforre tht right< of Ihe 1\I0rtKa~tt hereunder or IIl1der >aid promi.""r)' nole. In Ihe e\'elll of an.' drlaull
or bread, on Iht part of Ihe Mo..tjtall;or b'~reunder or under said promi!",,,' nOle, Iht 1\lorlll;agee sha\l ha"e Iht continlling op.ion 10 enfo,,',
pa)melll "I all ",,'" ,ecure,1 hereh)' by a"lion 011 law or b~ ,nil in e'luily t" foreclo.e Ihi! morlKage. eilher or bolh. concurrrlllly or olher"i<,',
and onr aclinn lor SlIil ,hall "..I ahatt or O~ a h::;r 10 or "aiver of the 1\!Orl>:ajl;ee', ri;:hl to irnlilllle or maintain the olher, pr......i,'ed ,~id Morl'
gag.'(' _hall han' onh ont paunnll ~n<i .ati,fanion of said illd,oled""".,
H, That in tht t"enl thaI ~lorlJl:a;:or -hall (I) (onsent to tbe appointment of a rreeinr. Irustee nr li'llIidator 01 ,,\I ur a "''''',lnlia\
parI of MIorll:.I;:or's a".elS, or (Z) bt adjudir:lled a blnlrllpt or inlOh'ent. or file a voluntary petilion in hanJ;.rup!C\'. or "dmit in writill!: ils
inabilil.' 10 pay i" ,Irhl< as lbe" breome <iue. or (3) mal..e a >:enaal a"ig'l<nenl for the brndil of credilor<. or (ol) Iii.. a p..-tili"" or an,wer
,tTling rt"1lr~ani'<ioll or arrallg:t:mtnt nith crrdilor~, or t.o t2~e ath'a(lta~e of 3n~ iU"oh'ulc~. law. or (5) fil~ an .Ul!'o\'"rr aJrnittill~ th(" m:J~
rerial alle;nlion, of a pelilion filed aK"i'''1 Ihe l\lorq.:agor in all\ banlr II ph'",. nOIKani/alion or in,oln'nn' proceeuinl::, or {I,l anion ,hall hr
13l.en h\' Iht ~1"rl~a;:lIr lor Ihe purl""''' of dfening an... 01 Ih~ fore~oi"g, or (7) any ordtr, jlld;':lIIellt IIr decere ,hall I.e e"treed upon an
appiicarioll l;[ ~ Cli.,litor or ~tolt~agor ~\ .1 (OUU of lOr.lp!'rfot juri!ldirtion approvir.~ a ~tition ..t"('~in~ :lppoillrmrnr of a rtC"l.ivtr or trn:o-ttt
of ,,!I or a ,"Ir.tanlial part of Ihc ~Inrtl.:a,:or'< a"els 011"\ such ordtr, judl,,'rnelll or Q<<rrt shaH cominlle III1,ta""d and in ..ff<<l for all\' perilld of
lhirty (30) con"'ClltiH da)", Ihe MortRa;:ce ilia)" declare the nott htreln ,ccured forthwilh dlle and pa\'ll-,lr, "htrrllpon Ihr prilllipal of and
Ihe inlerr'l accrued on Ih.. nole and all olhtr sum. hertb\' secllrtd shall become forlhwilh cue and pa,'ablt a. if all of Ihr ,aid '"I1l< 01 mont\'
werc originalh Slipulaled 10 ht paid on surh day; and thereupon Ihe Morl"aK..e nitholll notire or demand mas prOle"lIlr ~ 'lIil at law and/or
in equil\' a. i1 all mnnirs <,,'ured harh\ had malured prior 10 il. inllilution.
l~, ThaI Ihe :\lonltaKee or an\ ptrson aUlhoriud by Iht Mortj.;~"ee .hall han the ri:tltt to enler upon and imprrt Ihe mOfl;:a;:ed
premi,.,. al all reasonablt limn.
If.. That all\ ,urn nr sum, which mOl" be loantd or ad\'aoctd by tht Morlg&lI;ee to tht Mortgajl;or al any lime afttr Ihe r<<ording
olf Ihi< iocrntul<'. logrlbtr "ith inlere.l Iherwn ~I Iht rale agrted upon at Ihe time of such loan or adv:.nce. shill bt equally s<<ured wilh
a!ld ha', (' till' .alPt' priorit)' as Ihe ori;.:inal indthlednes< and he .uhjret 10 all Ihe term! an<i provi,iuns of this mortgage; pro\'idd, Ihat tbt
aK;:rcKale amollnl of principal out,ta..dinK at an)' time ,hall not exceed ~n amounl equal to one hundred and fifry p<r ctnt (!\o%) of the
prinl"ipal arnU\llIt ori}..~nal1y ~C('Ur<'tl h~rr-h-,.
17, ThaI. il required h)' ~!oct;:aKe., Ihe uid Morlga);Or will pal unlo lbe Morlga/l:ee. "n Ihe fi!.t day of r3ch allll ('\'r" COlll<cul;\e
mouth. a SUlll equal to onc-H\flfth of tht annual amoul1t nt"ct""~ary to P3.\" 3.11 tax~!'i and .3~~Mlntnts agaln~r. rhr 'elid nlHrtg3~t"d pr~rT)is". ,ai.d
monlhl, Slim 10 he estimaled and ca1<-..lattd on Ihe amounl of laIr!! as,esstd a;::alll'l ,a.d morl>:a;::td preml,n for Ihe prt"'ou. }<ar. and If
fllflher r"'I"ir<<1 h)' Mortgagee tn pay all in'ufaoct prtmium, in manner an<i form a< provided hertin for tbt pa)'mmt of tau, and a 51ftlmtnlS ,
IR, ThaI in tht tHnl Ihe loan which Ihi. murlgalte i. j;tiv~n tu steure i. ma<it for tbe purpost ot fin~ncill;:: eilher the construClion
of nel' I>"ildin;.:, or Iht cons,,,...uon of impro"emen" and/or addilion, to exi,rin;::, building,. Ihe Mort!;a~or, if required hy Ihe Morlgager,
e,p""'''' a~ll'e- to deposit "ilh the M"rl;::a;::et or il! dt-i;::naled agtnl an ~rnollnt ot money equal. to Ihe dlff,eftn~r bel\"",'n the ,1I('t pw,eed,
of Ihe I'd(, all" Ihe 1',111 al."".nl. a< delcrminr;! h)' I"e MortJl:a~ee. re'llllred 10 full\' comp!ttt !aHI ronstructlOn III arcordan(e '\'Ith Ihe plan>
and ,n('citiCJliur" heretofore "Ihmille" h,' Ihe ~lortg,3;::or and appro\'ed oy Ihe Mortgagu, Said amounl of money ,hall be plactd b~' lb.
~lc.ctJag<e in ;J "I,Il,ln< in Process Accoui'I" in Ihe name 01 Iht :lortg~.:or. an~ thr, ,ame .h~lI be used ~" 1M Mortga;.:~ 10 ,,~y Ihe cools,
char;.:e. and e"peo',' incurr"t in . ...nnrrtion wilh <aid constrnctlon pr!"r 10 d"bu"lll~ cf Ihl' loan, It l! fU~lher agretd that III Ihe evtnt
<aid .."",lrIlClion is nol fulls' compleled on or hdore the date $Iatt<! In Ihe Conslructlon l.oan A>:reemtnl or .n Ihe tvenl Ihal !he \'mrk on
'3id con'tr'.!eli"n .hall rea,.'hdore lull cnmpll'tion and su,'h cts,ation !hall conli'llle for a period of Itn (10) days. fit if sub!tantial conlinuou,
pro,:r..., Sh311 nul be made in such construction. Ihtn and in 3ny 8uch tUn! the said, aggrtgHe ,urn. principal ,,:nd inttr,:,t. menlinntd in u~d
pro;ni"or) nolt', and all moniN M'Cured hneoy, shall become dut and ,p3~'ablt forthwllh or Ihtrt,.1frer, at I~t Opl'O~ of !al<i Mortgll1;te; and III
rhe l'\'elll of '"fn c"",lion uf wor:" upon uid cor"lruClion for a penod of len (IO) days, or If sub!tanllal contlnuou, progrtss 'hall nol be
made in "Icb con!lfuClion ~. afol~aid Ibe Mortgaget may al its option enler inlo and upon Ihe Mortga;.:ed premise, an<i complelt said con.
'Irunion in 'lich mu,ner 'a< il drems ;dlisahlt wilhout an)' interftrtnce from tht Mortl:agor; tht said MorlgagM hereb)' gilin" and ;:lanlin!:
In Iht ~1(,'I.:al:et full I",wtr and authorilY 10 malt such enlr)' into and upon said mortg~;::ed premi,es, 10 ~nler into ,"ch conlracts or ar-
ran;::ene'1b a. mas' ht n<<tssaf\' 10 complele laid conslruction, and to upend any monies remaining in said "Loans in Proc""s Arcoum" and
i" a....lition 010\' ;"ms of mOIlC\' nt'Ct">sal\' I" compltlt said conslruclion; and any and all moni~ Hpended b,' Iht MortKa,'ee in connection
rt;i:l ~Il':. .:ui"~:~l;"'" .~.~ ~.:.:...:;~;'.:::.:;:: :~ :~~~~ ~~ !~~ ,,!".~n:,.. in ..id "I..o.Jn' in Proc~s! Account" shall b~ 3dd~d to rbt ,aid principal d~bt and
,hall draw inln",,1 al Ibe r:llt oro\'ided in uid promiuory nolt. and Ihall be sKured by tbis mortgagt. and ~blll b~ payablt by tbt MOrlJl:all;Or
nn .Icmand,